Tag: Class action

BusinessInnovationTechnology

UK Tribunal Rules Apple Imposed Excessive App Store Fees, Orders $2 Billion Payout

Apple has been found guilty of overcharging UK App Store developers through anti-competitive fees, according to a landmark ruling. The tech giant faces approximately $2 billion in compensation payments following the Competition Appeal Tribunal’s decision that its 30% commission was excessive.

Major Legal Defeat for Apple in UK App Store Case

Apple has reportedly been found liable for overcharging App Store developers in the United Kingdom, according to a significant class-action lawsuit ruling. Sources indicate the tech company will pay approximately £1.5 billion (roughly $2 billion) in compensation to developers who were subjected to what the tribunal deemed excessive fees.

by Noah Vance
BusinessFinance

Austria’s VIG Acquires Nuernberger in $1.6 Billion Insurance Merger Deal

In a significant European insurance sector consolidation, Vienna Insurance Group has reportedly reached an agreement to acquire German insurer Nuernberger. The deal, valued at approximately $1.6 billion, marks one of the largest insurance mergers in recent European markets.

Major European Insurance Merger Announced

Austria’s Vienna Insurance Group (VIG) has reportedly agreed to acquire German rival Nuernberger for approximately $1.6 billion, according to reports from Bloomberg L.P. coverage. The deal represents one of the most significant consolidations in the European insurance sector this year, with sources indicating it could reshape competitive dynamics in Central European markets.

by Marcus Linfield