'U.K. Authority Closes Competition Probes Into Google, Apple App Stores' - WSJ
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s antitrust authority has closed investigations into Google's Play Store and Apple's App Store. This decision comes as the authority prepares for new rules under the Digital Markets, Competition and Consumers Act, which will enhance its powers to address competition in digital markets.
August 21, 2024 | 1:40 pm
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NEUTRAL IMPACT
The closure of the U.K. antitrust probe into Apple's App Store suggests a temporary relief from regulatory scrutiny, but new rules may still impact Apple's operations in the future.
The closure of the probe indicates a pause in immediate regulatory pressure, but the upcoming rules could still affect Apple's business practices in the U.K. The impact on stock price is neutral in the short term as the market may have already priced in regulatory risks.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Google's Play Store sees a temporary halt in regulatory scrutiny in the U.K. with the closure of the antitrust probe, but future regulations could still pose challenges.
The closure of the investigation provides short-term relief from regulatory scrutiny for Google. However, the new regulatory framework could still impact Google's operations in the U.K. The short-term stock impact is neutral as the market may have anticipated regulatory developments.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80