Spain's watchdog expands probe into Apple over App Store pricing
The wider probe will examine whether the tech giant set pricing schedules at its App Store, abusing its dominant position, the CNMC said in a statement.
Apple has denied the allegations since the CNMC launched its investigation a year ago.
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Online retailer Zalando raises 2025 guidance after About You acquisition
German online fashion marketplace Zalando raised its 2025 guidance on Tuesday after adjusting its projections to include newly acquired About You. The Berlin-based company said it expected gross merchandise volumes to grow by 12-15 per cent, up from a previously expected range of 4-9 per cent. Zalando is investing heavily in its European logistics network, which it has also opened up to partners as it seeks to drive growth amid faltering consumer spending and competition from fast-fashion retailers such as Chinese rival Shein. The About You acquisition was completed in early July, valuing Zalando's smaller rival at 1.13 billion euros ($1.31 billion). The company also said it achieved second-quarter gross merchandise volumes of 4.06 billion euros, up from 3.86 billion euros a year earlier. ($1 = 0.8634 euros)
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Australia regulator says YouTube, others ‘turning a blind eye' to child abuse material
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Cadillac will add value as 11th F1 team, says McLaren's Brown
LONDON :Cadillac's arrival in Formula One next year as an 11th team will bring added financial value with new partners and more fan engagement rather than diluting resources, according to McLaren's American chief executive Zak Brown. The General Motors-backed team have taken staff already from rival outfits, their European headquarters at Silverstone being close to other factories, and are also competing for sponsorship. Brown, whose team are dominating this year's championship after winning the 2024 constructors' title, saw no reason to fear a dilution of resources, however. "I think on employees they are definitely going to take a lot more than they give, which is fine," he said at last weekend's Hungarian Grand Prix. "My general view is if someone wants to go work for a rival team then shame on me. "For sponsors, I think they'll bring more new to the table than take." Brown expected Cadillac also to bring more competition eventually, although they faced a tough challenge as newcomers, and more fans to a series that now has three U.S. rounds and a growing audience in America. "Will we get a better U.S. TV deal, more American presence? I think their sponsors and Cadillac will spend money in the sport, the teams get a percentage of that so I see them as a value add to the sport," he added. "I'm not worried about maybe some of the short term-ness of they are going to take an employee here or there or poach a sponsor here or there. I think the contribution will be bigger than that." Cadillac secured approval of their bid in March, after a 764-day entry process and initial opposition from Formula One and the other 10 teams wary of a potential reduction in the share of revenues. The team are also backed by TWG Global, whose CEO Mark Walter has an estimated net worth of $12.5 billion, according to the Bloomberg Billionaires Index. The first new team since U.S.-owned Haas debuted in 2016 said in July they were already two thirds of the way towards a targeted headcount of 600 by next season and no longer even the smallest outfit.
