Apple has been found to be in breach of sweeping new EU laws designed to allow smaller companies to compete and allow consumers to find cheaper and alternative apps in the tech business’s app store. The European Commission, which also acts as the EU antitrust and technology regulator, said it had sent its preliminary findings to Apple following an investigation launched in March.In preliminary findings, against which Apple can appeal, the European Commission said it believed its rules of engagement did not ...

Apple will delay launching three new artificial intelligence features in Europe because European Union competition rules require the company ensure that rival products and services can function with its devices. The features will launch in the fall in the US but will not arrive in Europe until 2025.The company said on Friday three features – Phone Mirroring, SharePlay Screen Sharing enhancements, and Apple Intelligence – will not be rolled out to EU users this year because of regulatory uncertainties due to ...

Nvidia became the world’s most valuable company on Tuesday, dethroning tech heavyweight Microsoft, as its chips continue to play a central role in a race to dominate the market for artificial intelligence.Shares of the chipmaker climbed 3.2% to $135.21, lifting its market capitalization to $3.326tn, just days after overtaking the iPhone maker Apple to become the second most valuable company.The stock has surged about 173% so far this year, compared with a rise of about 19% in Microsoft shares, with demand f ...

Tesla shareholders have approved a $45bn pay deal for CEO Elon Musk, following a fiercely contested referendum on his leadership.The result, announced on Thursday, comes as the billionaire tycoon fights to retain the largest-ever compensation package granted to an executive at a US-listed company.“I just want to start off by saying, hot damn, I love you guys!” a gleeful Musk said as he appeared on stage following the vote.The vote took place after a Delaware judge nullified Musk’s payment – then worth aroun ...

The US supreme court sided on Thursday with Starbucks in the coffee chain’s challenge to a judicial order to rehire seven Memphis employees fired as they sought to unionize in a ruling that could make it harder for courts to quickly halt labor practices contested as unfair under federal law.The justices threw out a lower court’s approval of an injunction sought by the US National Labor Relations Board (NLRB) ordering Starbucks to reinstate the workers while the agency’s in-house administrative case against ...

Elon Musk has claimed Tesla shareholders are voting by a wide margin to approve his $56bn (£44bn) compensation package before the electric carmaker’s crunch annual general meeting later on Thursday.The pay package, which is the highest ever awarded to the chief executive of a US company, is subject to an investor ballot after it was thrown out by a US judge earlier this year. Shareholders will also vote on Musk’s proposal to move the legal base of the electric carmaker to Texas.A number of investors includi ...

Tesla shareholders will decide late Thursday whether to award CEO Elon Musk a pay package worth about $45bn in what has become a referendum on the tech mogul’s leadership and a source of fierce legal contention at his electric car company.Musk claimed on Wednesday night in a post on X, formerly Twitter, that shareholder votes on his record-breaking payout and a plan to move the electric carmaker’s legal headquarters to Texas were “currently passing by wide margins”.However, it is unclear if a court that blo ...

Apple shares climbed more than 7% to a record high on Tuesday by market close, a day after presenting new artificial intelligence features meant to increase the appeal of its devices, including the iPhone, under the umbrella of “Apple Intelligence”.The rally comes as a breather for the stock, which has underperformed versus the benchmark S&P 500 this year, as Apple grapples with weak sales for its premium consumer gadgets. Apple stands to add the better part of $200bn to its market value if the current stoc ...

Apple’s big push into AI – which the company insists stands for “Apple Intelligence” – could spark an upgrade “supercycle”, with the intense processing requirements for the souped-up Siri limiting it to only the most powerful iPhones currently on the market.The company risks angering users who will update to iOS 18 this autumn to discover that even a brand-new iPhone 15 is unable to run features such as automatic transcription, image generation and a smarter, more conversational voice assistant.Apple’s new ...

The manager of one of the largest pension funds in the US said it will vote against Elon Musk’s “ridiculous” pay deal as Tesla campaigns for its reinstatement.Shareholders in the electric carmaker are voting on the $56bn compensation package – the largest ever granted to an executive at a US-listed company – after it was thrown out by a Delaware judge earlier this year.Ahead of Tesla’s annual shareholders meeting Thursday, Chris Ailman, chief investment officer of the California State Teachers’ Retirement ...