The European Union is about to hit Apple Inc.
AAPL,
with a ban on App Store rules that govern music-streaming rivals like Spotify Technology
SPOT,
and a potential hefty fine in the regulatory body’s latest bid to thwart the power and reach of Big Tech. A Bloomberg report Wednesday said the EU’s imminent antitrust order would prohibit Apple’s practice of blocking music services from pushing their users away from the App Store to alternative subscription options. Regulators are also mulling a fine of up to 10% of Apple’s annual sales. Apple was not immediately available to comment on the report.
