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Apple announced new App Store policies in Europe Thursday, aiming to avoid a 500 million euro fine under the EU’s Digital Markets Act. The changes add a “core technology commission” of 5 percent on digital purchases made outside the App Store and maintain complex fee structures, with some developers now paying up to three fees per download. Apple said it disagrees with the EU’s ruling but will comply under pressure of daily fines of up to 50 million euros. The European Commission is reviewing Apple’s changes for compliance and seeking feedback from developers, including critics such as Spotify and Epic Games, who argue that Apple’s new approach undermines the DMA’s intent. In the U.S., Apple’s steering restrictions were recently overturned, allowing developers to bypass App Store commissions.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Apple announced new App Store policies in Europe Thursday,
00:06aiming to avoid a 500 million euro fine under the EU's Digital Markets Act.
00:12The changes add a core technology commission of 5% on digital purchases
00:18made outside the App Store and maintain complex fee structures,
00:23with some developers now paying up to three fees per download.
00:27Apple said it disagrees with the EU's ruling,
00:31but will comply under pressure of daily fines up to 50 million euros.
00:37The European Commission is reviewing Apple's changes for compliance
00:40and is seeking feedback from developers,
00:44including critics like Spotify and Epic Games,
00:48who argue Apple's new approach undermines the DMA's intent.
00:52In the US, Apple's steering restrictions were recently overturned.
00:57Allowing developers to bypass App Store commissions.
01:01For all things money, visit Benzinga.com.

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