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STMicro Forecasts Weak Q4 Sales as Automotive Demand Falters

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European chipmaker STMicroelectronics projected fourth-quarter revenue below market expectations, citing soft demand from the automotive sector that offset gains in other markets. The company expects revenue of $3.28 billion for the quarter, compared to analyst forecasts of $3.34 billion, according to LSEG data. Shares fell nearly 8%, making STMicro the worst performer on France’s CAC 40 and Italy’s FTSE MIB indexes.

The Franco-Italian firm, which counts Tesla and Apple among its top customers, said weaker sales to a major electric vehicle client — widely believed to be Tesla — weighed on results. CFO Lorenzo Grandi confirmed that lower demand for silicon carbide chips, used in EVs, led to reduced capital spending plans for 2025. STMicro now plans to invest slightly under $2 billion, down from its previous $2–2.3 billion range.

Analysts from JPMorgan described the current semiconductor recovery as “very muted,” despite signs of improvement in imaging sensor and microcontroller sales. STMicro also reiterated that its cost-cutting program remains on track following resistance in Italy.

Apple Faces EU Antitrust Complaint Over App Store and iOS Restrictions

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Apple is facing a new antitrust complaint in the European Union, filed jointly by civil rights organizations Article 19 and Germany’s Society for Civil Rights. The complaint, submitted to the European Commission, accuses Apple of breaching the Digital Markets Act (DMA) through restrictive App Store terms and device policies that limit interoperability and competition.

The complaint argues that Apple’s conditions for developers — including a €1 million stand-by letter of credit (SBLC) — create barriers for small and medium-sized enterprises seeking to distribute or install third-party apps on iOS and iPadOS. The groups claim such practices violate the DMA’s goal of ensuring fair access and consumer choice in digital markets.

Apple rejected the allegations, stating that its rules protect users and developers by maintaining high security and quality standards. The company said it had proposed changes to its credit requirements, but that the European Commission asked it not to proceed.

The European Commission confirmed it is reviewing the complaint as part of its ongoing supervision of “gatekeeper” companies under the DMA. The law allows regulators to impose fines of up to 10% of a company’s global annual revenue for noncompliance — a significant threat for Apple, which was fined €500 million earlier this year for other App Store violations.

UK Targets Apple and Google’s Smartphone Dominance with New Competition Powers

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Britain’s competition regulator has designated Apple and Google as firms with “strategic market status” (SMS), giving it new powers to demand changes to how the two tech giants operate their smartphone ecosystems.

The Competition and Markets Authority (CMA) said on Wednesday that the move would allow it to introduce targeted interventions to promote innovation and competition in the mobile market, where the dominance of Apple’s iOS and Google’s Android platforms gives them vast control over app stores, browsers, and digital services.

The CMA said the designations were not findings of wrongdoing but would enable oversight of both firms’ practices, such as app store restrictions and payment rules that may limit competition.

The decision aligns Britain with other major economies — including the United States, European Union, and Japan — that have been tightening regulation on the two companies’ market power.

Apple warned that copying the EU’s interventionist approach could “undermine privacy and security” for users, while Google described the decision as “disappointing and unwarranted”, urging the regulator to ensure its actions remain “pro-growth and pro-innovation.”

Nearly all smartphones in the UK run on either Apple or Google systems, with both firms controlling access to their platforms through app store policies and in-house browsers.

Tom Smith, a former CMA director, said the new powers could lead to fairer conditions for app developers — including the right to inform users of cheaper deals outside official app stores, similar to measures adopted in the U.S.

However, industry trade body CCIA cautioned that the “opaque” SMS process might deter tech investment, urging regulators to balance oversight with economic growth.

The CMA emphasized that any future interventions would be “proportionate and targeted” to ensure competition flourishes without stifling innovation in the UK’s tech sector.