Italy Investigates Apple, Google, Dropbox over Cloud Storage

This photo taken on August 23, 2018 shows the Google logo on display at the Smart China Expo at Chongqing International Expo Center in southwest China's Chongqing. ((Getty Images)
This photo taken on August 23, 2018 shows the Google logo on display at the Smart China Expo at Chongqing International Expo Center in southwest China's Chongqing. ((Getty Images)
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Italy Investigates Apple, Google, Dropbox over Cloud Storage

This photo taken on August 23, 2018 shows the Google logo on display at the Smart China Expo at Chongqing International Expo Center in southwest China's Chongqing. ((Getty Images)
This photo taken on August 23, 2018 shows the Google logo on display at the Smart China Expo at Chongqing International Expo Center in southwest China's Chongqing. ((Getty Images)

Italy's competition watchdog has launched an investigation into Apple, Google and Dropbox over their cloud storage services.

The competition and market authority said Monday it has opened a total of six investigations into Apple iCloud, Google Drive and Dropbox's online storage service in response to complaints about unfair commercial practices and violations of the country’s consumer rights directive.

In one case, it's also looking into “vexatious clauses” in a contract.

The regulator said it's looking into whether the three companies either failed to, or did not adequately, indicate how users' data would be collected and used for commercial purposes.

It is also examining whether Dropbox failed to provide clear and accessible information on how users could get out of contracts or pursue out of court dispute settlements.

Apple, Google, and Dropbox did not immediately respond to requests for comment.



EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
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EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo

The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said.

The program, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies.

The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilize a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, Reuters quoted EU officials as saying.

The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said.

The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering.

The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defense technologies, robotics and advanced materials, the officials said.