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Tech firms court battle could turn ‘epically’ rotten

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Apple takes Epic Games to court over App Store spat

It’s no secret that Fortnite is a popular video game, with over six million downloads. And there is no hiding the influence that big tech company Apple maintains.


However today, video game developer EPIC games will finally have a chance to plead their case as Apple is taken to court over alleged antitrust practices within the App store.


Seeking to shed some light on whether the “monopolistic practices” of the Apple store establish an anti-competitive environment. The studio behind Fortnite is alleging that the current policies are unfair with Apple currently taking a 30% cut of every in-app purchase made within applications available in their online Store.    


Epic games made use of an in-game currency known as V BUCKS, circumventing this 30% rule resulting in the removal of Fortnite from Apple’s online store.  


One of the arguments that differentiate Apple from other Big game companies is whether users on iPhone and Ipad devices should have alternate payment options for nondedicated gaming hardware. – a blurry line that will no doubt be questioned thoroughly over the course of this case. 

The outcome of this case is set to shake up the App store as we know it if Epic games were to win. With over six million downloads there’s no doubt that the Fortnite IP is a valuable one that would add to Apple’s online offering at the right price. 

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Money

Dow struggles, investors lose confidence amid trade fears

Dow on track for worst April since 1932 amid trade uncertainty and investor ‘no confidence’ signals, as losses deepen.

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Dow on track for worst April since 1932 amid trade uncertainty and investor ‘no confidence’ signals, as losses deepen.

In Short

The Dow Jones fell almost 1,000 points, heading for its worst April since 1932, with investors worried about trade restrictions and the future of the Federal Reserve Chairman.

Amidst declining stock confidence, traditional safe assets like bonds are under pressure, while gold prices have soared as investors seek safety.

The Dow Jones Industrial Average dropped nearly 1,000 points on Monday, heading towards its worst April since 1932. The S&P 500 has recorded its worst performance for any president at this stage since 1928.

Investors are concerned about trade restrictions and the potential removal of Federal Reserve Chairman Jerome Powell by President Trump, leading to fears of further losses. Many doubt that the administration’s trade negotiations will provide timely relief.

Traditional safe assets like government bonds and the U.S. dollar are also under pressure, limiting safe investment options during this instability. Chief investment officer Scott Ladner noted that this reflects a widespread “no confidence” sentiment among investors.

Tax cuts and deregulation

Following Trump’s election, stock indexes initially rose due to optimism around tax cuts and deregulation. However, the introduction of aggressive tariffs sparked significant market declines. Although there was some retraction of tariff plans, markets have not stabilised.

Typically, bond prices should increase during stock declines, but yields on 10-year U.S. Treasurys have risen, indicating a sell-off in government bonds.

The U.S. dollar has weakened due to economic concerns and Trump’s tensions with the Fed, hitting a three-year low. In contrast, gold prices have surged to all-time highs as investors seek safer assets.

Wall Street sentiment is declining, with bearish expectations remaining high for eight consecutive weeks, marking a record for prolonged pessimism among individual investors.

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Money

Trump warns of economic slowdown unless interest rates are slashed

Trump criticizes Fed’s Powell over interest rates, warning of economic slowdown, as markets react sharply.

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Trump criticizes Fed’s Powell over interest rates, warning of economic slowdown, as markets react sharply.


President Donald Trump has once again lashed out at Federal Reserve Chair Jerome Powell, claiming the U.S. economy could “slow down” if interest rates aren’t cut immediately.

Markets reacted sharply, with bond yields jumping and equities falling as investors brace for a possible standoff between the White House and central bank.

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Money

Dow falls nearly 1,000 points amid market turmoil

Dow Drops Nearly 1,000 Points as Market Turmoil Grows Amid Tariff Concerns and Fed Leadership Threats.

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Dow drops nearly 1,000 points as market turmoil grows amid tariff concerns and Fed leadership threats.

In Short

The stock market fell significantly on Monday, with the Dow losing nearly 1,000 points, raising concerns over President Trump’s trade policies and Federal Reserve leadership.

Additionally, the dollar plummeted to multiyear lows, while gold prices surged to a record high.

On Monday, the stock market experienced a significant decline, with the Dow industrials closing nearly 1,000 points lower. This downturn is part of a troubling trend, as April is on track to be the worst month for the market since 1932.

The value of the dollar also fell, reaching multiyear lows against major currencies like the euro.

Investor concerns are mounting over President Trump’s ongoing tariff war and his threats to remove Federal Reserve Chairman Jerome Powell. On social media, Trump called for lower interest rates, suggesting that economic slowdown is possible if action is not taken promptly.

National Economic Council Director Kevin Hassett indicated on Friday that the administration is dissatisfied with Powell’s performance and is considering his potential removal.

Export worry

Data from South Korea revealed a significant decrease in exports to the United States this month, further heightening market anxiety.

All major stock indexes reported losses, with the Nasdaq witnessing the largest decrease of around 2.5%. Key technology shares, including Tesla, Nvidia, and Apple, also fell sharply.

The ICE U.S. dollar index decreased by over 1%, marking its lowest value in three years against a basket of currencies. Treasury yields increased, the 10-year note reaching 4.39%.

Meanwhile, gold prices surged to an unprecedented $3,400 per troy ounce, and Bitcoin prices rose. Japan’s Nikkei index fell by 1.3%, while China’s CSI 300 managed a slight increase of 0.3%. Markets in Hong Kong and Europe remained closed for the Easter holiday.

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