On today’s ExchangeWire news digest: EU Fines Apple €1.8bn; Retailers Suffer Longest Dip in Sales Since 2020; UK Gov Partners with MediaSmart for Scam Advertising Awareness Campaign
EU antitrust regulators have hit Apple with a fine of €1.8bn (£1.5bn), following their investigation into Spotify’s complaint regarding the tech giant’s App Store practices. The European Commission’s investigation concluded that Apple abused its dominant position in the market for the distribution of music streaming apps through the App Store, effectively breaking competition law.
Retailers are currently suffering the longest dip in sales since 2020, with consumers cutting back for the fifth consecutive month. Sales across fashion, homewares, and lifestyle fell 1.3% in February. Fashion was the most impacted category, with in-store sales decreasing by 8.2% last month, and overall sales falling by 4.8%. Although some positive performance was observed in online sales and the lifestyle sector, overall performance remains in a negative territory.
Meanwhile, the UK Government continues to develop its National Campaign Against Fraud (launched by the Home Office last month) through a partnership with Media Smart, an advertising literary non-profit. Media Smart will be supporting the Government’s efforts with the launch of a scam advertising awareness campaign, which aims to help teenagers identify possible scams and how to avoid them. Additionally, it will offer resources explaining how to report them on social media platforms, among others.
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