Latest news with #iPhone-maker
Indian Express
3 days ago
- Business
- Indian Express
Apple rejected over 1.9 million apps submitted to App Store in 2024
Apple has said it has prevented more than $2 billion in potentially fraudulent transactions on the App Store in 2024. In its fifth annual App Store fraud analysis report, the tech giant also said it has stopped a total of $9 billion fraudulent transactions via the app marketplace over the last five years. The report comes nearly a week after the return of Epic Games' Fortnite on the App Store, marking the potential end of a protracted legal battle between the iPhone-maker and the video game company. Epic Games had accused Apple of violating antitrust law by taking a 30 per cent cut of in-app payment transactions and introducing anti-steering restrictions that prohibited developers from telling users that they can pay for services outside the App Store ecosystem. Apple executives were on the verge of facing criminal contempt proceedings last month, after a US federal court said it had fallen short of complying with a previous injunction order dictating that the company must allow developers to direct users to external payment options. In this context, Apple has continued to position its App Store as the safer and more secure payment processing system to discourage developers from using third-party payment processors. 'In-app purchase on the App Store offers users a secure and trusted environment designed to protect privacy, prevent fraud, and make managing purchases simple. With built-in tools to view, modify, or cancel subscriptions; purchase history; and support for refunds, users stay in control every step of the way,' Apple said in the fraud analysis report. The company further said it blocked nearly 4.6 million attempts to 'sideload' or install apps from outside the App Store or third-party marketplaces approved by Apple. Apple said it has taken comprehensive steps to tackle App Store threats ranging from deceptive apps designed to steal personal data of users to fraudulent payment schemes. In 2024, Apple blocked nearly two million 'risky apps' submitted to the App Store, which sees an average of 813 million visitors every week. More than 146,000 App Store developer accounts were terminated last year. Additionally, Apple said it blocked over 10,000 illegitimate apps that acted as storefronts to access pornography apps, gambling apps, malware-loaded apps, and pirated versions of legitimate App Store apps. As part of its crackdown on fake reviews on the App Store, Apple said it removed more than 143 million fraudulent ratings and reviews. It also took down over 7,400 apps from App Store charts and prevented nearly 9,500 deceptive apps from appearing in App Store search results. The company further said it deactivated 129 million customer accounts that were spamming or manipulating ratings and reviews on the App Store. Out of 7.7 million apps submitted and reviewed by Apple, over 1.9 million apps were rejected for failing to meet the company's standards regarding security and other aspects. Among the submitted apps that did not make it on the App Store, 37,000 were flagged for fraudulent activity, 17,000 for bait-and-switch maneuvers, and 400,000 for privacy violations. App Store's app review process involves vetting by a human reviewer as well as usage of automated tools capable of detecting and taking action against potentially harmful apps. 'App Review rejects any potentially malicious apps it identifies during review, and the team's investigation into one fraudulent app often results in the takedown of several others linked to the same problematic developer,' the report read.
The Hindu
3 days ago
- Business
- The Hindu
Apple prevented over $2 billion in fraudulent transactions last year alone: Report
Apple prevented over $2 billion last year and over $9 billion in fraudulent transactions in the past five years, shared the iPhone-maker in its annual App Store fraud prevention analysis. The Apple App Store that sees an average of more than 813 million visitors a week has to ensure the safety of both developer and customer accounts, not to mention securing the process of vetting apps and customer reviews. Apple said that in 2024 it terminated more than 146,000 developer accounts over fraud concerns, while rejecting an additional 139,000 developer enrolments. On the customer front, the company rejected more than 711 million customer account creations and deactivated nearly 129 million customer accounts, per the annual App Store fraud prevention analysis. 'Preserving the App Store's safe and secure marketplace requires constant vigilance, as bad actors continue to evolve their tactics in an attempt to defraud users. These threats range from deceptive apps designed to steal personal information, to fraudulent payment schemes that attempt to exploit users,' stated Apple. The company also has to track down criminal activity unfolding outside of its marketplace. Last year, Apple said it detected and blocked more than 10,000 illegitimate apps that were made available through pirate storefronts. Their contents included pornography apps, gambling, and stolen versions of legitimate App Store applications. Last year saw Apple processing over 1.2 billion ratings and reviews. The company removed more than 143 million fraudulent ratings and reviews from its app marketplace, as well as more than 7,400 apps from App Store charts and around 9,500 deceptive apps from the App Store search results. 'Apple will continue to build on its commitment to provide users with the safest and most secure experience on the App Store, which includes empowering users with resources to get help and report suspected fraud,' shared Apple in its report.
West Australian
6 days ago
- Business
- West Australian
Wall St falls as Trump tariff threats spark uncertainty
US stocks have fallen, notching a weekly loss, after President Donald Trump recommended 50 per cent tariffs on European goods, reopening a new front in global trade tensions and unleashing a fresh wave of market uncertainty. All three main Wall Street indexes pared early losses but each still ended lower and shed more than 2.0 per cent for the week. Technology, communication services and consumer discretionary stocks were the biggest losers of the S&P 500's 11 sub-sectors. Utilities, consumer staples and energy stocks gained. Apple touched a two-week low and finished down 3.0 per cent after Trump warned the iPhone-maker it could face potential 25 per cent tariffs on phones sold to US customers but not manufactured in the country. Treasury yields eased from multi-month highs, falling 4.4 basis points to 4.509 per cent for the benchmark US 10-year note. "If I were to put a headline on today's story, it would be 'Here We Go Again!'," said James St Aubin, chief investment officer at Ocean Park Asset Management in Santa Monica, California. "This is Trump turning on the temperature on the tariff conversation with the EU and Apple. The markets were hoping that the worst was behind us when it comes to the tariff rhetoric. But in reality, there's still some smoldering embers when it comes to the tariff talk," St Aubin added. The Dow Jones Industrial Average fell 256.02 points, or 0.61 per cent, to 41,603.07, the S&P 500 lost 39.19 points, or 0.67 per cent, to 5,802.82 and the Nasdaq Composite lost 188.53 points, or 1.00 per cent, to 18,737.21. For the week, the Dow lost 2.47 per cent, the S&P 500 fell 2.61 per cent, and the Nasdaq shed 2.48 per cent. US Treasury Secretary Scott Bessent said Trump did not believe the EU's trade offers were of sufficient quality. He also said he hoped the threat of fresh tariffs would "light a fire under the EU" in negotiations. Most megacap and growth stocks fell including Amazon, Nvidia and Meta Platforms - which all lost more than 1.0 per cent. Tesla ended down 0.5 per cent. The CBOE Volatility Index, Wall Street's "fear gauge," hit a more than two-week high and finished up 10 per cent. Semiconductor stocks dropped 1.5 per cent. Deckers Outdoor slumped nearly 20 per cent after the maker of UGG boots forecast first-quarter net sales below estimates and said it would not provide annual targets due to tariff-led macroeconomic uncertainty. Sportswear maker Nike dropped 2.1 per cent. Volume on US exchanges was 17.67 billion shares compared with the 17.73 billion average for the full session over the last 20 trading days.
Perth Now
6 days ago
- Business
- Perth Now
Wall St falls as Trump tariff threats spark uncertainty
US stocks have fallen, notching a weekly loss, after President Donald Trump recommended 50 per cent tariffs on European goods, reopening a new front in global trade tensions and unleashing a fresh wave of market uncertainty. All three main Wall Street indexes pared early losses but each still ended lower and shed more than 2.0 per cent for the week. Technology, communication services and consumer discretionary stocks were the biggest losers of the S&P 500's 11 sub-sectors. Utilities, consumer staples and energy stocks gained. Apple touched a two-week low and finished down 3.0 per cent after Trump warned the iPhone-maker it could face potential 25 per cent tariffs on phones sold to US customers but not manufactured in the country. Treasury yields eased from multi-month highs, falling 4.4 basis points to 4.509 per cent for the benchmark US 10-year note. "If I were to put a headline on today's story, it would be 'Here We Go Again!'," said James St Aubin, chief investment officer at Ocean Park Asset Management in Santa Monica, California. "This is Trump turning on the temperature on the tariff conversation with the EU and Apple. The markets were hoping that the worst was behind us when it comes to the tariff rhetoric. But in reality, there's still some smoldering embers when it comes to the tariff talk," St Aubin added. The Dow Jones Industrial Average fell 256.02 points, or 0.61 per cent, to 41,603.07, the S&P 500 lost 39.19 points, or 0.67 per cent, to 5,802.82 and the Nasdaq Composite lost 188.53 points, or 1.00 per cent, to 18,737.21. For the week, the Dow lost 2.47 per cent, the S&P 500 fell 2.61 per cent, and the Nasdaq shed 2.48 per cent. US Treasury Secretary Scott Bessent said Trump did not believe the EU's trade offers were of sufficient quality. He also said he hoped the threat of fresh tariffs would "light a fire under the EU" in negotiations. Most megacap and growth stocks fell including Amazon, Nvidia and Meta Platforms - which all lost more than 1.0 per cent. Tesla ended down 0.5 per cent. The CBOE Volatility Index, Wall Street's "fear gauge," hit a more than two-week high and finished up 10 per cent. Semiconductor stocks dropped 1.5 per cent. Deckers Outdoor slumped nearly 20 per cent after the maker of UGG boots forecast first-quarter net sales below estimates and said it would not provide annual targets due to tariff-led macroeconomic uncertainty. Sportswear maker Nike dropped 2.1 per cent. Volume on US exchanges was 17.67 billion shares compared with the 17.73 billion average for the full session over the last 20 trading days.
Time of India
24-05-2025
- Business
- Time of India
Wall Street slides as Trump's tariff threats triggers market uncertainty
U.S. stocks fell on Friday, notching a weekly loss, after President Donald Trump recommended 50% tariffs on European goods, reopening a new front in global trade tensions and unleashing a fresh wave of market uncertainty . All three main Wall Street indexes pared early losses but each still ended lower and shed more than 2% for the week. Technology, communication services and consumer discretionary stocks were the biggest losers of the S&P 500's 11 subsectors. Utilities, consumer staples and energy stocks gained. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Oldest Stars Who Are Still Alive And Often Forgotten I Am Famous Undo Apple touched a two-week low and finished down 3% after Trump warned the iPhone-maker it could face potential 25% tariffs on phones sold to U.S. customers but not manufactured in the country. Treasury yields eased from multi-month highs, falling 4.4 basis points to 4.509% for the benchmark U.S. 10-year note. "If I were to put a headline on today's story, it would be 'Here We Go Again!'" said James St. Aubin, chief investment officer at Ocean Park Asset Management in Santa Monica, California. Live Events "This is Trump turning on the temperature on the tariff conversation with the EU and Apple. The markets were hoping that the worst was behind us when it comes to the tariff rhetoric. But in reality, there's still some smoldering embers when it comes to the tariff talk," St. Aubin added. The Dow Jones Industrial Average fell 256.02 points, or 0.61%, to 41,603.07, the S&P 500 lost 39.19 points, or 0.67%, to 5,802.82 and the Nasdaq Composite lost 188.53 points, or 1.00%, to 18,737.21. For the week, the Dow lost 2.47%, the S&P 500 fell 2.61%, and the Nasdaq shed 2.48%. U.S. Treasury Secretary Scott Bessent said Trump did not believe the EU's trade offers were of sufficient quality. He also said he hoped the threat of fresh tariffs would "light a fire under the EU" in negotiations. Most megacap and growth stocks fell, including Amazon , Nvidia and Meta Platforms - which all lost more than 1%. Tesla ended down 0.5%. The CBOE Volatility Index , Wall Street's "fear gauge," hit a more than two-week high and finished up 10%. Semiconductor stocks dropped 1.5%. Deckers Outdoor slumped nearly 20% after the maker of UGG boots forecast first-quarter net sales below estimates and said it would not provide annual targets due to tariff-led macroeconomic uncertainty. Sportswear maker Nike dropped 2.1%. Volume on U.S. exchanges was 17.67 billion shares, compared with the 17.73 billion average for the full session over the last 20 trading days.
