The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
Apple announced that it will introduce several changes to comply with the European Union's (EU) Digital Markets Act (DMA), including updates to how users select browser options and the ability to delete more pre-installed apps. These changes come as the iPhone maker responds to pressure from EU regulators to enhance user choice and competition on its platform.
Key Takeaways:
Browser Selection Updates: In response to the DMA, Apple will update its "choice screen" later this year, allowing EU users to select their default browser directly from a randomly ordered list of 12 browsers per country when they first open Safari. This list will include short descriptions of each browser, and the selected browser will be automatically downloaded. The choice screen will also be available on iPads through an update.
Enhanced Default App Management: Apple will introduce a dedicated section within its devices for users to set default apps for various functions, including messaging, phone calls, spam filters, password managers, and keyboards. This move is aimed at providing more flexibility and user control over the apps they prefer to use for essential functions.
Increased App Deletion Options: Apple plans to make more of its pre-installed apps deletable, including major apps like the App Store, Messages, Camera, Photos, and Safari. Only the Settings and Phone apps will remain undeletable. This change gives users greater control over the software on their devices, aligning with the DMA's goals of fostering competition and user freedom.
Regulatory Dialogue and Compliance: Apple has been in ongoing discussions with the European Commission to ensure that its updates align with the DMA's requirements. The Commission will monitor the effectiveness of these changes and decide on any further actions needed to ensure compliance.
These updates reflect Apple's efforts to meet the EU's regulatory demands while continuing to enhance the user experience. By providing greater choice and flexibility in app management, Apple aims to address concerns about its compliance with the DMA and the broader goals of fostering competition and user autonomy in the digital marketplace.
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