"EU Launches First Probes into Apple and Google Under New Digital Law"

Apple and Google are facing full-blown European Union investigations into their compliance with the new Digital Markets Act, which aims to rein in the power of Big Tech. The EU probes will focus on the firms' new fees, terms, and conditions for app store developers, potentially leading to hefty fines of up to 10% of their total annual worldwide revenue. The heightened EU scrutiny against Apple comes as the US Justice Department and 16 attorneys general sued the firm, accusing it of violating antitrust laws. The Digital Markets Act allows the EU to levy significant penalties and aims to wrap up final decisions within 12 months.