• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Money Profit News
No Result
View All Result
Home Breaking News

Apple spent more than it ever has on lobbying as antitrust threats loom

by
April 21, 2022
in Breaking News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Related Posts

Longtime Google exec Nick Fox to take interim commerce business job after Ready departs to Pinterest

Amazon wants us to believe the robots are coming — but most people won’t find them useful

Tesla workers are returning to office only to find there aren’t enough desks or parking spots for them

Sell Exxon Mobil and other energy stocks before these headwinds hit prices once again

In this article

AAPL

Tim Cook, CEO of Apple, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 10, 2019.
Brendan McDermid | REUTERS

Apple spent a record $2.5 million lobbying Congress in the first quarter of 2022, more than a 34% increase from the previous quarter, according to its disclosure made public Wednesday night.

The increased spending reflects, in part, mounting pressure on Apple in Washington and abroad as it faces the prospect of greater regulation. Two bills that have passed through the Senate Judiciary Committee this year, the Open App Markets Act and the American Innovation and Choice Online Act, would potentially require Apple to open up its closed ecosystem on the iPhone for developers and prevent it from favoring its own apps over others’ in its app store. Apple has warned of privacy concerns such rules could raise for consumers, though the bills’ authors have said such claims are overblown.

Meanwhile, Europe is readying its Digital Markets App that could have similarly profound impacts on U.S. tech businesses.

The company’s disclosure outlines some key areas of focus for Apple in Washington, including on a pending slate of tech competition bills, foreign digital regulation, semiconductor funding and patent policy. Apple said it also engaged Congress on tax issues and gave general information on its diversity, environmental and coding education programs and policies.

Apple still tends to be one of the lesser spenders among its Big Tech peers. Google spent $2.96 million in the quarter, a nearly 34% increase from last quarter, though still far below its own record quarterly spend that once approached $6 million.

Microsoft, which has managed to sidestep the harshest of criticism leveled by lawmakers at the tech firms, reported a modest increase in spending from the previous quarter, reporting $2.54 million in lobbying, up 2.8% from the prior period.

First-quarter disclosures for Amazon and Meta were not immediately available in the government’s public database.

Subscribe to CNBC on YouTube.

WATCH: Here’s how the lobbying industry works

Next Post

Why UBS thinks this restaurant stock is the 'best house' in the inflationary environment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

Longtime Google exec Nick Fox to take interim commerce business job after Ready departs to Pinterest

by
June 29, 2022
0

Nick Fox, vice president of product and design for Search and Assistant. Longtime Google exec Nick Fox take over the...

Read more

Longtime Google exec Nick Fox to take interim commerce business job after Ready departs to Pinterest

Amazon wants us to believe the robots are coming — but most people won’t find them useful

Tesla workers are returning to office only to find there aren’t enough desks or parking spots for them

Sell Exxon Mobil and other energy stocks before these headwinds hit prices once again

Longtime Google exec Nick Fox to lead commerce business following Ready’s departure to Pinterest

RH shares slide after company lowers its outlook for the year

Load More

All rights reserved by www.moneyprofitnews.com

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

moneyprofitnews