4 Top Biotech Stocks to Watch as Economic Recovery Picks Up Pace

This post was originally published on this site

Reuters

Australia’s Commonwealth Bank mocks Apple’s ‘pro-competition’ claim

SYDNEY (Reuters) -Commonwealth Bank of Australia accused Apple Inc on Thursday of uncompetitive behaviour over control of payments on its phones, which have grown to about a third of all in-person payments the country’s largest lender processes. Matt Comyn, chief executive at the Sydney-based bank, urged lawmakers to boost scrutiny of technology giants, saying payments through digital wallets developed by Apple and Alphabet’s Google made up about 45% of all physical consumer payments, as distinct from other payments such as online or direct debits. “The … claim that Apple is pro-competition, I think, is a fair statement, as long as one accepts that competition is welcome as long as no one can compete with Apple,” Comyn told a regular parliamentary committee.