Core Viewpoint - The Ninth Circuit Court of Appeals upheld a lower court's injunction against Google, requiring significant reforms to its Google Play Store policies, including allowing direct downloads from third-party app stores and opening access to app directories [1][3]. Group 1: Legal and Regulatory Developments - The court's decision is seen as a "total victory" for Epic Games, which initiated the antitrust lawsuit after Google removed its game "Fortnite" from the Play Store due to a third-party payment system [3]. - The lawsuit dates back to August 2020, when Epic Games challenged Google's 30% commission on in-app purchases, leading to a jury ruling that Google's exclusive agreements with manufacturers and carriers constituted illegal monopoly practices [3]. Group 2: Industry Reactions - Epic Games announced plans to launch its Android app store on Google Play and called on developers to help create an open ecosystem, receiving support from other companies like Spotify and Deezer, which have also faced high commission fees [3]. - Google warned that opening the ecosystem could lead to increased malware risks and a decline in user experience, emphasizing that the security of the Android system relies on a unified review standard [3]. Group 3: Future Actions - Google has not yet provided a specific timeline for the required reforms but indicated plans to establish a dispute resolution mechanism within eight months, involving a technical committee selected by both Epic and Google [4].

Group 1 - Google lost an antitrust lawsuit against Epic Games, requiring changes to its app store policies to allow competitive markets and alternative billing systems [2] - The Ninth Circuit Court upheld a lower court's ruling, indicating that antitrust remedies can prohibit certain lawful behaviors to correct anti-competitive actions [2][3] - Google expressed concerns that the ruling would "seriously harm user safety" and undermine innovation on the Android platform [2] Group 2 - A jury supported Epic's claims that Alphabet engaged in anti-competitive behavior by paying manufacturers and developers to restrict their use of the Google Play Store [3] - Following the jury's decision, a federal judge ruled that Google must make further concessions to competitors [3] - The antitrust dispute occurs amid increasing scrutiny of Google's business practices by regulators worldwide, with Alphabet's stock dropping over 2% during trading [4]

Core Viewpoint - Google has failed to overturn a jury verdict and federal court order requiring it to revamp its Play Store, following accusations from Epic Games of monopolistic practices in the Android app market [1][5]. Group 1: Legal Proceedings - The 9th US Circuit Court of Appeals rejected Google's claims of legal errors made by the trial judge that allegedly favored Epic Games [1]. - Epic Games accused Google of monopolizing access to apps on Android devices and controlling transaction payments within those apps [2][4]. - A San Francisco jury found in favor of Epic Games in 2023, determining that Google had illegally stifled competition [4]. Group 2: Court Orders and Appeals - US District Judge James Donato ordered Google to allow users to download rival app stores and make its app catalog available to competitors [5]. - The court's decision is currently on hold pending Google's appeal, which can be further escalated to the full 9th Circuit and potentially to the US Supreme Court [5]. Group 3: Company Responses - Google expressed concerns that the appeals court ruling would harm user safety, limit choice, and undermine innovation within the Android ecosystem [6]. - Epic Games announced plans to launch the Epic Games Store for Android on the Google Play Store following the verdict [6]. Group 4: Industry Context - Google argued that its Play Store competes with Apple's App Store and claimed that the trial judge unfairly restricted its ability to present this argument [8]. - Microsoft, the Justice Department, and the Federal Trade Commission filed briefs supporting Epic Games in this case [10]. - Epic Games is also engaged in a separate legal battle with Apple regarding similar antitrust issues [10].

Group 1 - The Italian Competition and Market Authority (AGCM) has launched an antitrust investigation against Meta Platforms, accusing the company of abusing its market dominance by integrating its AI tool, Meta AI, into WhatsApp without explicit user consent, potentially violating EU competition rules [1][2] - AGCM claims that the integration of Meta AI into WhatsApp, which has over 2 billion users, may constitute "bundling" practices that unfairly restrict competition and lock consumers into Meta's ecosystem [1][2] - Meta has responded by stating that the integration of AI features adheres to user choice principles and aims to lower the barrier for AI access for the public, although AGCM has raised concerns about the transparency of user authorization mechanisms [2] Group 2 - The investigation is part of a broader trend of increased regulatory scrutiny on tech giants, with Meta facing previous antitrust challenges in Italy, including a case in April 2023 regarding music copyright negotiations [2][3] - The AGCM's actions are closely coordinated with the European Commission, indicating a potential for cross-regional enforcement actions against major tech companies [3] - This investigation occurs during a critical period of heightened digital market regulation in the EU, emphasizing the importance of maintaining competition within the AI ecosystem [2][3]

Core Viewpoint - Meituan aims to maintain a market share of 70% at all costs, but recent developments indicate a significant challenge to this goal as competitors like Alibaba and JD.com are rapidly increasing their market presence [2][11]. Market Dynamics - Alibaba's Taobao Flash Purchase and Ele.me have reported daily orders exceeding 90 million for two consecutive weekends, indicating a strong upward trend in order volume [2][8]. - The order punctuality rate for Taobao Flash Purchase remained stable at 96%, demonstrating its capability to handle a surge in demand despite adverse weather conditions [6][7]. - Meituan's effective market share may now be below 50%, as it faces stiff competition from Alibaba and JD.com, which together account for a significant portion of the market [8][11]. Competitive Landscape - The market is shifting towards a multi-platform competition model, moving away from a single dominant player, which is a more sustainable and healthy industry structure [11][12]. - Alibaba's strategy focuses on long-term sustainable growth rather than short-term gains, emphasizing effective and sustainable orders over artificial inflation of order numbers [9][15]. - Both Alibaba and Meituan have their strengths and weaknesses, with Alibaba's Taobao Flash Purchase showing rapid growth but lacking in certain operational efficiencies compared to Meituan [12][13]. Future Trends - The takeaway delivery market is undergoing significant transformation, presenting a large growth opportunity for all players involved, with the potential for a doubling of overall order volume [14][15]. - The competition is not merely a zero-sum game; rather, it is about enhancing service quality for consumers and merchants, which ultimately drives market growth [15].

市场消息：苹果(AAPL.O)第三方应用价格面临西班牙的反垄断调查。 ...

日本反垄断监管机构周二宣布了一项新法律的指导方针，旨在规范智能手机应用市场的垄断行为，主要 针对美国科技巨头苹果(AAPL.O)和谷歌(GOOG.O)。 （日本共同社） ...

Core Viewpoint - Investor sentiment towards Apple (AAPL.US) has been cooling this year, with the upcoming Q3 earnings report on July 31 expected to be a pivotal moment for the stock's performance [1] Financial Performance Expectations - Analysts expect Apple to report Q3 earnings per share (EPS) of $1.42 and revenue of $89.1 billion, reflecting a year-over-year EPS growth of 1.4% and revenue growth of 3.9% [1] - For the next fiscal quarter, EPS is projected to be $1.65, a marginal increase of $0.01 year-over-year, with revenue expected to grow by 2.9% to $97.67 billion [1] Stock Price Movement - As of the latest update, Apple's stock price has seen a year-to-date decline of 14.5%, currently trading at $214.9, with a slight increase of 0.5% in after-hours trading [1] - Analysts from Monness Crespi Hardt and Goldman Sachs maintain a "buy" rating on Apple, with target prices of $245 and $251 respectively, citing potential revenue and EPS outperformance [2] Competitive Landscape - Competitors like Samsung and Google are actively launching new products, including foldable smartphones and Pixel devices, which may impact Apple's market position [2] - Apple's service business is under pressure due to a court ruling limiting fees and potential impacts from an antitrust case involving Google, which could affect their lucrative partnership [2] Market Challenges - Apple faces several challenges, including regulatory pressures, trade policy uncertainties, and economic challenges in the Chinese market [4] - CEO Tim Cook indicated that while supply chain optimizations have mitigated some tariff impacts, future policy changes could lead to increased costs, estimating an additional $900 million in costs due to tariffs in Q3 [4] Stock Performance Outlook - Analysts suggest that Apple's stock may remain in a trading range between $195 and $215 until investors gain clarity on service growth prospects and tariff impacts [4] - The stock is currently below its 200-day moving average, indicating a negative signal, and recent product announcements have not generated significant investor excitement [5]

墨西哥反垄断监管机构指控21家银行和金融机构对信用卡延期付款收取固定费用。墨西哥联邦经济竞争 委员会（COFECE）已就调查结果通知相关银行，其中包括汇丰银行、桑坦德银行和丰业银行在墨西哥 的子公司。 ...

Core Viewpoint - The acquisition of VMware by Broadcom for $61 billion is under scrutiny by EU judges following a legal challenge from a cloud computing organization regarding the EU's approval of this major tech deal [1] Group 1: Legal Challenge - The European Cloud Infrastructure Services Providers Association (CISPE) has filed a lawsuit against the EU General Court, arguing that the European Commission did not impose any conditions on Broadcom to prevent potential abuse of market dominance [1] - CISPE claims to have previously warned the EU antitrust authorities about Broadcom's allegedly harmful behavior, but asserts that the EU has not taken substantial action to address these concerns [1] Group 2: Acquisition Details - The European Commission conditionally approved Broadcom's acquisition of VMware in July 2023, noting that Broadcom provided a "comprehensive access and interoperability commitment" to alleviate antitrust concerns [1] - The acquisition allows Broadcom to control VMware's virtualization software, which is essential for cloud service companies to run multiple systems on a single server [1] Group 3: Post-Acquisition Concerns - Following the completion of the acquisition, concerns have resurfaced regarding Broadcom's actions, particularly allegations of terminating existing contracts and introducing high-cost new licensing terms, which CISPE claims harm European cloud computing users [1][2] - CISPE has indicated that Broadcom has raised prices and implemented more restrictive licensing terms, turning a key tool into a tightly controlled bottleneck, affecting nearly all organizations using cloud technology in Europe [2]