Money

US Senators target Apple and Google app store monopolies with new bill

Published

5 years ago

August 12, 2021

Yesterday, the US Senate introduced a bill to equalise the power tech giants including Apple and Google have over the app store market

Under the new bipartisan Open App Markets Act, app stores will no longer be able to force developers to use their store’s payment systems.

The bill will prohibit major players in the tech field like Apple and Google from punishing developers for offering lower prices on a seperate app store. It also will ban the tech giants from preventing developers to offer their own payment systems.

The bill would also make it unlawful for the tech giants to use non-public data from their app stores to create competing products against companies who are using their service.

Senators Richard Blumenthal, Marsha Blackburn, and Amy Klobuchar introduced the bill to congress yesterday

The senators who introduced the bill said that it will give mobile users more control over their own devices.

“For years, Apple and Google have squashed competitors and kept consumers in the dark; pocketing hefty windfalls while acting as supposedly benevolent gatekeepers of this multi-billion dollar market,” Blumenthal said in a statement Wednesday.

“This bipartisan bill will help break these tech giants’ ironclad grip, open the app economy to new competitors.”
Senator Richard Blumenthal

These platforms control more commerce, information, and communication than ever before, and the power they exercise has huge economic and societal implications. We urge Congress to swiftly pass the Open App Markets Act.
— Horacio Gutierrez (@horaciog) August 11, 2021

Apple released a statement in response to the bill yesterday saying, “The App Store is the cornerstone of our work to connect developers and customers in a way that is safe and trustworthy.”

“Our focus is on maintaining an App Store where people can have confidence that every app must meet our rigorous guidelines and their privacy and security is protected.”

Apple VS. Epic Games

This comes after a long dispute between Apple and Epic Games. Epic Games, the maker of Fortnite, accused Apple of using its control over the app store market to breach free market laws. Specifically, those forbidding the misuse of market power.

The Coalition for App Fairness said, “We have worked toward creating a fairer and more competitive app marketplace for both developers and consumers”.

“The bipartisan Open App Markets Act is a step towards holding big tech companies accountable for practices that stifle competition for developers in the U.S. and around the world”.

Epic Games vs Apple: could the court case fail?

Related Topics:APPLE Featured Google Open Markets App

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Natasha Schapova

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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Money

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5 days ago

February 26, 2026

Harvey Vargas

Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.

Australia’s latest inflation report is creating waves across the market, with questions about interest rates, the strong performance of the Aussie dollar, and the uneven nature of the stock market rally. Investors are watching closely as changes in carry trade risks this month add another layer of complexity.

David Scutt from StoneX discusses what these shifts mean for trading strategies and the broader economic outlook. He provides insight into how underlying factors are shaping investor confidence and market dynamics.

On the tech side, Nvidia’s upcoming earnings are expected to influence AI development and the broader tech sector. Coupled with trends in SaaS and bitcoin price action, these movements are signalling how investor sentiment is evolving in a fast-changing landscape.

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#AustraliaEconomy #InflationReport #AussieDollar #NvidiaEarnings #AIInvesting #StockMarketNews #BitcoinTrends #SaaSInsights

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6 days ago

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U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.

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DocuSign also rose 3% following Anthropic’s confirmation that Claude Cowork can integrate with DocuSign, Google Drive, and Gmail, signalling stronger adoption of AI tools across industries.

The iShares Expanded Tech-Software Sector ETF climbed 2% despite remaining over 30% below its 52-week high, showing tech stocks are recovering but still have room to run.

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Stocks tumble amid AI concerns and Trump tariff update

Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

Published

7 days ago

February 24, 2026

Harvey Vargas

Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

Stocks plunged sharply as concerns over artificial intelligence and trade tensions rattled investors, sending the Dow down more than 800 points. Heavyweights like American Express, Goldman Sachs, and JPMorgan were key contributors to the drop.

Software companies were hit particularly hard after a report suggested AI could impact economic growth, triggering further losses across tech shares.

Trade-sensitive retailers including American Eagle Outfitters, Ralph Lauren, and Yeti Holdings also faced setbacks as market uncertainty spiked. Bonds, meanwhile, rallied as investors sought safety in a volatile market.

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