FX.co ★ UK's CMA Considers Probing Mobile Ecosystem Activities Of Apple, Google

The independent inquiry group of the Competition and Markets Authority has advised the regulatory body to scrutinize the operations of Apple (AAPL) and Google's parent company, Alphabet, Inc. (GOOG), within the UK's mobile ecosystems.

This advice follows the group's publication of a report that highlights the substantial control the tech giants exert over mobile web browsers, operating systems, and applications, which it argues is stifling innovation within the UK market.

The regulator plans to conduct this investigation under the framework of the new Digital Markets, Competition and Consumers Act, with a view to implementing necessary regulatory measures.

As of the latest trading updates, Apple's shares are priced at $229.51, reflecting a slight increase of 0.43%, while Alphabet's shares are valued at $167.23, showing a decline of 1.25% on the Nasdaq.