Epic Games, maker of Fortnite, has filed antitrust lawsuits against Apple and Google after both tech companies removed Fortnite from their app stores.
Epic Games, maker of Fortnite, has filed antitrust lawsuits against Apple and Google after both tech companies removed Fortnite from their app stores. Apple and Google stated that the Fortnite app was removed because a new payment feature violated their in-app payment guidelines. In its lawsuit, Epic did not seek financial rewards but court injunctions that would end the companies’ practices related to their app stores. Click here to read more
An appeal court in California ruled that Amazon (NASDAQ: AMZN) can be held liable for damages caused by a defective replacement battery bought on its website, which injured a customer. Amazon has long maintained that it is only the channel between buyers and sellers on its marketplace, and as such, it is shielded from any liability. This ruling could, however, make it considerably harder for Amazon to successfully avoid responsibility for faulty, unsafe and counterfeit products sold on its platform. Click here to read more
Yesterday, AMC Entertainment (NYSE: AMC), the largest cinema chain in the U.S., confirmed that it would begin reopening its cinemas in the U.S. from August 21. Shares of AMC surged 22% on the news. Due to the Covid-19 pandemic, its cinemas have been closed since Mid-March, and the company’s stock has been down about 23% since January. About 400 of AMC’s more than 600 domestic movie theatres are expected to reopen. Click here to read more
Here are the biggest movers in pre-market trading
1. WeWork gets a new $1.1 billion commitment from SoftBank. Click here to read more
2. Apple readies subscription bundles to boost services. Click here to read more
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