European regulators are giving Apple six months to bring its iPad up to code.The European Commission said in a Monday (April 29) news release that it designated Apple as a “gatekeeper” with respect to its operating system for tablets under the Digital Markets Act (DMA). It gave the company the half-year deadline to bring the iPad under compliance with the law.PYMNTS has contacted Apple for comment but has not yet gotten a reply.Under the DMA, gatekeepers are companies that have a strong economic position, s ...

Google has accused the federal government of fabricating a market for its antitrust suit against the tech giant.Despite this, the Department of Justice (DOJ) has not shown that Google commands a 70% share of the online advertising market, the company said in a court filing asking a judge to summarily dismiss the suit.According to a Saturday (April 27) report by Bloomberg News, Google alleges that the department “made up markets specifically for this case” of display advertising shown on the open web. In doi ...

The former CEO of Barclays is now chairing TikTok challenger Triller.As the Financial Times (FT) reported Saturday (April 27), Bob Diamond has been chairing Triller owner AGBA since September and will serve in that capacity at the video-and-music-focused social media startup as well. According to the report, Triller claims to be worth more than $3 billion, though it has just $36 million in revenue and $1 million in cash on hand last year.AGBA, a financial services company, announced it was merging with Tril ...

Walmart has been expanding its omnichannel capabilities across its three segments: Walmart U.S., Walmart International and Sam’s Club.The company’s people and technology are dedicated to giving customers the opportunity to shop in both retail stores and through eCommerce so they can access what they need “anytime and anywhere,” the retailer said in its annual report released Thursday (April 25).“Through innovation, we strive to continuously improve a customer-centric experience that seamlessly integrates ou ...

Meta announced a $35 billion investment in artificial intelligence (AI) for this year, signaling an aggressive push in the escalating tech arms race.This colossal investment raises pivotal questions about the future of AI development and its financial viability. Industry experts are now debating the scope and impact of this funding, probing into when these investments will yield a return on investment (ROI) and how they could reshape Big Tech revenue models. With potential strategies ranging from subscripti ...

Capital One’s first quarter results showed consumers continue to spend on their cards — and management touted the benefits of the proposed $35 billion buyout of Discover Financial Services.Purchase volume on its cards was up 6% year over year to $146.6 billion, but was 7% below the fourth quarter of 2023.The company’s supplementals showed that the card segment’s net charge-off rate of 5.9% is up from 4% a year ago.Consumer banking average loans decreased $1.1 billion, or 2%, to $75.1 billion.CEO Richard Fai ...

Snapchat parent company Snap believes that augmented reality (AR) will be “one of the most meaningful advancements in computing that the world has ever seen.”Evan Spiegel, CEO of Snap, said this Thursday (April 25) during the company’s quarterly earnings call. He said that Snap considers AR to be one of the company’s three strategic priorities, alongside revenue growth and community growth.“We have never worked on anything as profound and meaningful as augmented reality,” Spiegel said during the call. “AR e ...

Digital transformation is the name of the game — and that’s great news for Microsoft.The company, which reported its Fiscal Year 2024 Q3 earnings results on Thursday (April 25), has seen ongoing enterprise digitization fuel a greater appetite across the business landscape for innovations like artificial intelligence (AI) and cloud services — innovations that Microsoft is more than happy to provide to its customers.“Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving ...

Come for the comments about AI. Stay for the earnings call. That will most likely be the pattern of big tech earnings over the next two weeks as companies prioritize technology over financial reporting. It was the case when Meta reported Wednesday (April 24). And it was the case for Alphabet when it reported its Q1 earnings on Thursday (April 25).By the numbers, the company rode its traditional revenue drivers of search, cloud and YouTube to an operating income jump of 46% year over year, to $25.47 billion. ...

Business travel is on a steady ascent, aligning with the resurgence observed in the leisure travel sector over the past three years. On Thursday (April 25), American Airlines announced a record first-quarter (Q1) revenue of approximately $12.6 billion, with business travel showing robust growth, particularly among small- to medium-sized businesses. United Airlines similarly reported a double-digit percentage increase in business demand quarter over quarter last week, underscoring strong corporate travel dem ...