KEY TAKEAWAYS The European Union fined Apple and Meta Platforms hundreds of millions of dollars for breaching its Digital Markets Act.The DMA came into place early last year with the aim of ensuring big tech players don't dominate Europe’s digital market.

Following reported delays over political concerns, the European Commission (EC) has penalized Apple and Meta over anti-competitive activities. The fines of €500 million and €200 million respectively (around $570 million and $228 million) are the first to be issued under Europe's new Digital Markets Act (DMA),