Apple’s App Store rules breach EU tech rules, EU regulators say

Apple’s App Store rules breach EU tech rules because they prevent app developers from steering consumers to alternative offers, EU antitrust regulators said on Monday, a charge that could result in a hefty fine for the iPhone maker. The European Commission, which also acts as the European Union’s antitrust and technology regulator, said it had […]

Morning Bid: Fed fears overwhelm AI theme, gold recoils

A look at the day ahead in U.S. and global markets from Mike Dolan And then there was one. In an extraordinary turnabout in just five months, financial markets now fully price just one quarter-point interest rate cut from the Federal Reserve this year – compared to the six built into futures prices at the start of […]

Tesla’s Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000

SHANGHAI — Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla’s comparable Model Y. Deliveries for Onvo’s first car, the L60 SUV, are set to begin in September, the company said. Pre-sales began after Wednesday’s launch event. Nio CEO William Li said he expects […]