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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Technology

    Posted By Jessica Weisman-Pitts

    Posted on December 19, 2024

    Featured image for article about Technology

    By Foo Yun Chee

    BRUSSELS (Reuters) -Apple on Wednesday hit out at Meta Platforms, saying its numerous requests to access the iPhone maker’s software tools for its devices could impact users’ privacy and security, underscoring the intense rivalry between the two tech giants.

    Under the European Union’s landmark Digital Markets Act that took effect last year, Apple must allow rivals and app developers to inter-operate with its own services or risk a fine of as much as 10% of its global annual turnover.

    Meta has made 15 interoperability requests thus far, more than any other company, for potentially far-reaching access to Apple’s technology stack, the latter said in a report.

    “In many cases, Meta is seeking to alter functionality in a way that raises concerns about the privacy and security of users, and that appears to be completely unrelated to the actual use of Meta external devices, such as Meta smart glasses and Meta Quests,” Apple said.

    Meta Quest is Meta’s virtual reality headset, part of the company’s ambition to own the computational platform that powers virtual reality (VR) and mixed reality (MR) devices.

    “If Apple were to have to grant all of these requests, Facebook, Instagram, and WhatsApp could enable Meta to read on a user’s device all of their messages and emails, see every phone call they make or receive, track every app that they use, scan all of their photos, look at their files and calendar events, log all of their passwords, and more,” Apple said.

    It pointed to Meta’s privacy fines in Europe in recent years as a cause of concern.

    “What Apple is actually saying is they don’t believe in interoperability,” a Meta spokesperson said in a statement.

    “Every time Apple is called out for its anticompetitive behavior, they defend themselves on privacy grounds that have no basis in reality.”

    Separately, the European Commission – which in September said it would spell out how Apple must open up to rivals – published its preliminary findings on the issue late Wednesday evening, giving individuals, companies and organisations until Jan. 9 to provide feedback on its proposed measures for Apple.

    The measures would require Apple to provide a clear description of the different phases, deadlines and the criteria and considerations that it would apply or consider in assessing interoperability requests from apps developers.

    Apple should also provide developers regular updates and give and receive feedback regarding the effectiveness of its proposed interoperability solution while there would be a fair and impartial conciliation mechanism to address technical disagreement with Apple.

    The Commission also set out the steps for Apple to provide interoperability with all functionalities of the iOS notifications feature available to Apple Watch, Apple Vision Pro and any future Apple connected physical devices to its rivals as well.

    A decision by the EU executive, which acts as the competition watchdog in the 27-country bloc, on whether Apple complies with the DMA’s interoperability provision is expected in March next year.

    (Reporting by Foo Yun Chee; Editing by Chris Reese and Lincoln Feast)

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