Connect with us

Business

India’s antitrust body orders probe into Apple over alleged abuse of app market

Published

 on

India‘s competition watchdog on Friday ordered an investigation into Apple Inc’s business practices in the country, saying it was of the initial view that the iPhone maker had violated certain antitrust laws.

The order from the Competition Commission of India (CCI) comes after a non-profit group alleged this year that Apple was abusing its dominant position in the apps market by forcing developers to use its proprietary in-app purchase system.

The complainant, “Together We Fight Society”, argued that Apple’s imposition of a 30% in-app fee for distribution of paid digital content and other restrictions hurts competition by raising costs for app developers and customers, while also acting as a barrier to market entry.

The CCI said Apple’s restrictions prima facie result in denial of market access for potential app developers and distributors.

“The Commission at this stage is convinced that a prima facie case is made out against Apple which merits investigation,” it said.

Apple did not respond to requests for comment.

The company denied the allegations in a filing to the CCI last month, seen by Reuters, and asked the regulator to throw out the case, stressing that its market share in India was an “insignificant” 0-5%.

CCI however said in the order that Apple’s argument on its market share was “completely misdirected” as the allegations were about anti-competitive restrictions on app developers and not end-users.

The allegations are similar to a case Apple faces in the European Union, where regulators last year started an investigation into the U.S. tech giant.

The CCI ordered its investigations unit to complete the investigation and submit a report within 60 days of the order. Typically such investigations go on for several months.

The watchdog is separately conducting an investigation into Google’s in-app payment system as part of a broader probe into the company after Indian startups last year voiced concern.

 

(Reporting by Aditya Kalra in New Delhi and Abhirup Roy in Mumbai; Editing by Jan Harvey)

Business

Gloomy Netflix forecast erases much of stock’s pandemic gains

Published

 on

Netflix Inc dashed hopes for a quick rebound after forecasting weak first-quarter subscriber growth on Thursday, sending shares sinking nearly 20% and wiping away most of its remaining pandemic-fueled gains from 2020.

The world’s largest streaming service projected it would add 2.5 million customers from January through March, less than half of the 5.9 million analysts had forecast, according to Refinitiv IBES data.

Netflix tempered its growth expectations, citing the late arrival of anticipated content, such as the second season of “Bridgerton” and the Ryan Reynolds time-travel movie “The Adam Project.”

Shares of Netflix plummeted nearly 20% to $408.13 in after-hours trading. Competitor Walt Disney Co, which has staked its future on building a strong streaming business, saw its shares sink 4%. Streaming device Roku Inc fell 5%.

Nasdaq futures dropped almost 1%, showing trad

Continue Reading

Business

Pfizer's newly approved COVID-19 antiviral pills arrive at Queensway Carleton Hospital – Ottawa Citizen

Published

 on


Pfizer’s Paxlovid treatment has been approved to treat mild to moderate COVID in adult cases where the patient has tested positive and is at high risk of getting severe COVID-19, including hospitalization or death.

Article content

The Queensway Carleton Hospital has received 700 courses of Pfizer’s Paxlovid pill, the first take-home medication for treating COVID-19.

Advertisement

Article content

Health Canada announced the prescription antiviral treatment was approved on Monday. Each course of treatment involves two antiviral drugs, nirmatrelvir and ritonavir. The treatment consists of two oral tablets of nirmatrelvir and one of ritonavir, taken together twice a day for five days.

The province says 15 hospitals will be receiving Paxlovid. For now, it’s unclear how it will be distributed, although the Public Health Agency of Canada has released preliminary guidelines for categories of patients to be prioritized.

Until now, COVID-19 medications were given intravenously or by injection in a hospital or health-care settings. Paxlovid is expected to be in high demand, but the global supply is limited.

Advertisement

Article content

The Queensway Carleton Hospital is actively working on creating a regional process with other hospitals, led by director of pharmacy Joe Dagenais, to identify which patients are eligible and the criteria they need to meet to receive this treatment, hospital spokesperson Kelly Spence said. Dagenais is also head of the regional pharmacy committee and is spearheading regional plans.

  1. Pfizer’s antiviral treatment for COVID-19 is approved for adult patients with mild or moderate symptoms at high risk of becoming more seriously ill.

    Health Canada approves Pfizer anti-viral pill for treatment of COVID-19

  2. (FILES) This file handout photo courtesy of Pfizer shows the making of its Covid-19 antiviral pills inside a laboratory in Freiburg, Germany.

    Experts stress Pfizer’s antiviral COVID-19 treatment not a replacement for vaccines

“We are waiting to receive patient eligibility guidance from the Ontario COVID-19 Science Table, hopefully coming this week,” Spence said.

Ontario expects to receive about 10,000 courses of treatment from the federal government in January, Ministry of Health spokesperson W.D. Lighthall said in a statement.

Advertisement

Article content

“Based on the limited supply we expect to receive from the federal government, we have worked with our hospital partners and are prepared for distribution of antivirals at 15 sites across the province as soon we receive them.”

Initially, the medication will be prioritized for adults with the highest risk of severe outcomes, including immunocompromised patients, Lighthall said.

We apologize, but this video has failed to load.

The Ontario Medical Association is seeking more details but understands clinical assessment centres may have key roles in prioritizing testing and eligibility and ensuring timely delivery, spokesperson Leslie Shepherd said.

Manotick physician Dr. Alykhan Abdulla, past chair of the association’s section on general and family practice, said family physicians are still learning more about these medications and support the province’s plan at this time.

Advertisement

Article content

“We want to have access to prescribing these medications in a month or so.”

Health Canada received the Paxlovid submission from Pfizer on Dec. 1 and conducted an expedited review, including information confirming its effectiveness against the Omicron variant.

Paxlovid has been approved to treat mild to moderate COVID in adult cases where the patient has tested positive and is at high risk of getting severe COVID-19, including hospitalization or death.

It’s not approved for patients who are already hospitalized or to prevent COVID. Paxlovid can’t be used more than five days in a row and has not been approved for those under 18 years old.

The Public Health Agency of Canada’s interim set of guidelines for prioritizing patients includes those who have the highest likelihood of severe illness, including patients who are immunocompromised, regardless of their vaccination status, as well as those over the age of 80 whose vaccinations are not up to date.

Advertisement

Article content

Patients over 60 who live in underserved rural or remote communities, long-term care homes, First Nations, Inuit, and Metis communities are also prioritized under the interim guidelines.

Pfizer reported in November that Paxlovid reduced the risk of hospitalization or death by 89 per cent compared with a placebo in high-risk adults who were not hospitalized.

Health Canada’s review found the benefits outweigh potential risks, but also cautioned that Paxlovid has the potential to interact with other prescription drugs.

Health officials also said public health measures and vaccinations remain key ways to prevent infection, and no drug is a substitute for vaccination.

Paxlovid could help keep thousands of people out of hospitals, Lighthall said.

“The arrival of these pills gives us increased confidence as we continue to review key indicators and data to determine when we can begin safely and gradually lifting public health measures, and we look forward to providing additional details in the near future.”

Advertisement

Comments

Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

Adblock test (Why?)



Source link

Continue Reading

Business

Amazon to open fashion store where algorithms suggest what to try on

Published

 on

Amazon.com Inc’s recipe for the department store of the future includes algorithmic recommendations and what one corporate director called “a magic closet” in the fitting room.

The online retailer is making another push to grow its fashion business, announcing on Thursday it will open its first-ever apparel store this year, with a tech twist. “We wouldn’t do anything in physical retail unless we felt we could significantly improve the customer experience,” said Simoina Vasen, a managing director.

At 30,000 square feet (2,787 sq meters), the planned “Amazon Style” shop near Los Angeles is smaller than the typical department store. Model items are on the racks, and customers scan a code using Amazon’s mobile app to select the color and size they would like. To try on the clothes, which are stored in the back, shoppers enter a virtual queue for a fitting room that they unlock with their smartphone when it is ready.

Inside, the dressing room is “a personal space for you to continue shopping without ever having to leave,” Vasen said. Each has a touchscreen letting shoppers request more items that staff deliver to a secure, two-sided closet “within minutes,” she said.

“It’s like a magic closet with seemingly endless selection,” Vasen said.

The touchscreens suggest items to shoppers too. Amazon keeps a record of every good a customer scans so its algorithms personalize clothing recommendations. Shoppers can fill out a style survey as well. By the time they arrive in a fitting room, employees have already deposited customers’ requested items and others that Amazon has picked.

Shoppers can opt out with a concierge’s help, Amazon said.

Amazon has unveiled tech to help customers choose outfits before. The company has surpassed Walmart Inc as the most-shopped clothing retailer in the United States, according to analyst research.

But it still has room to expand and compete with the likes of Macy’s Inc and Nordstrom Inc, which have opened smaller-format stores. Amazon’s lineup of physical grocery and convenience shops have yet to upend brick-and-mortar retail.

The company’s new store aims to attract a broad range of shoppers with hundreds of brands, Vasen said, declining to name examples.

It has hundreds of associates, and no cashier-less checkout like some Amazon stores, Vasen said. Still, using a biometric system known as Amazon One, customers can pay with a swipe of their palm.

 

(Reporting By Jeffrey Dastin in Palo Alto, California; Editing by Christian Schmollinger)

Continue Reading

Trending