The UK antitrust body, the Competition and Markets Authority (CMA), will be given legal powers enabling it to fine Apple and other tech giants billions of dollars. This is an apparent second U-turn in British government plans.

The CMA’s powers will now go even further than originally announced, allowing it to fine companies 5% of their daily global turnover per day…

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In particular, Apple is able to impose whatever App Store terms and commissions the company likes, because anyone wanting to sell an iPhone app can only do so via Apple.