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The European Union fined Apple €500 million and Meta €200 million for violating the Digital Markets Act. Apple's violation involved restricting app developer communication with customers, while Meta's involved a 'consent or pay' system for ad targeting. These penalties mark the first enforcement actions under the new law aimed at curbing the market power of large tech companies, demonstrating a transatlantic consensus on this issue despite other geopolitical tensions.

Prepared by Christopher Adams and reviewed by editorial team.