Tag: Financial Times

BusinessSoftwareTechnology

Apple Faces £1.5 Billion UK Antitrust Ruling Over App Store Pricing Practices

Apple has reportedly lost a major UK antitrust lawsuit challenging its App Store fee structure. The ruling could require the tech giant to pay approximately £1.5 billion in damages to millions of British consumers.

UK Tribunal Rules Against Apple in App Store Antitrust Case

Apple faces a potential £1.5 billion payout to UK consumers after reportedly losing a significant antitrust lawsuit targeting its App Store fees, according to Financial Times coverage of the recent legal decision. The Competition Appeal Tribunal ruled that the iPhone maker abused its dominant market position to inflate developer fees, which ultimately affected consumer pricing.

by Mason Drayton
BusinessLegal

Former Builder.ai Finance Chief Subpoenaed in US Investigation of Startup’s Collapse

The former CFO of Builder.ai has been subpoenaed to appear before a Manhattan grand jury as US prosecutors investigate the startup’s collapse. The Microsoft-backed company, once valued over $1 billion, reportedly revised revenues down to just a quarter of prior estimates after discovering potentially bogus sales.

US Authorities Intensify Builder.ai Investigation

Former Builder.ai chief financial officer Andres Elizondo has been subpoenaed by US prosecutors, according to reports from the Financial Times, as authorities deepen their investigation into the collapse of the Microsoft-backed startup. The subpoena reportedly requests Elizondo’s appearance before a grand jury in a Manhattan court for questioning this September.

by Darren Holt