The European Commission is reportedly likely to accept Apple’s changes to its App Store rules and fees, eliminating the threat of daily fines from the antitrust regulator. The timing of an announcement of official approval of the changes is uncertain, but could come within weeks, Reuters reported Tuesday (July 22), citing unnamed sources. Asked about…
The Massachusetts assisted-living facility where a fatal fire killed nine people was caring for dozens of aging residents reliant on wheelchairs and oxygen tanks, but it lacked the safety measures and most of the staffing requirements that are commonplace in nursing homes. As an assisted-living center, Gabriel House in Fall River, about 50 miles (80…
Apple has appealed what it calls an “unlawful” $580 million fine from the European Union. “We believe the European Commission’s decision — and their unprecedented fine — go far beyond what the law requires,” the tech giant said in a statement on Monday, per a report by Bloomberg News. “As our appeal will show, the EC is mandating…
Apple is reportedly set to propose making it easier for third-party developers to send customers outside of its App Store to make software purchases in order to avoid additional penalties being imposed by European Union regulators. The company’s proposal is due Thursday (June 26), Bloomberg reported Wednesday (June 25). EU regulators ruled in April that…
By Anirban Sen and Chris Prentice NEW YORK (Reuters) -U.S. exchange operators are in talks with the Securities and Exchanges Commission on easing regulatory burdens for public companies, as they seek to encourage more richly valued startups to list, according to four people familiar with the matter. These deliberations, the details of which are reported…
Apple is reportedly in eleventh-hour negotiations with European regulators about changes to its App Store. As the Financial Times (FT) reported Monday (June 23), the tech giant is hoping to escape a series of escalating fines from the European Union (EU) set to go into force this week. Apple has already been fined 500 million…
Fast fashion retailer Shein has reportedly chosen a new location to go public. The China-founded company is now looking to list in Hong Kong after failing to get Chinese regulators to sign off on its plans for a London initial public offering (IPO), Reuters reported Wednesday (May 28). Sources told Reuters Shein plans to file a draft prospectus with…
Hong Kong passed a stablecoin bill that will enable the region to establish a licensing regime for fiat-backed stablecoin issuers. “Hong Kong’s stablecoins are backed by fiat currency as underlying assets, and we welcome global enterprises and institutions interested in issuing stablecoins to apply in Hong Kong,” legislative council member Johnny Ng said on X…
Hong Kong’s new subsidiary legislation of its domestic security law came into force on Tuesday, just a day after the government proposed it with a spokesman saying the new measures had to be enacted as soon as possible because of “potential unforeseen circumstances amid escalating geopolitical tensions”. The legislation was gazetted and signed by Acting…
The number of elderly taxi drivers involved in accidents in Hong Kong has increased by more than 40 per cent since 2022, prompting some industry leaders to ask if tighter regulations are needed to assess the fitness of older cabbies to ensure safety. Some taxi drivers also hoped the government would subsidise the fees for…