Supreme Court rebuffs Apple’s appeal on app payments, threatening billions in revenue

WASHINGTON — The Supreme Court on Tuesday allowed a court order to take effect that could loosen Apple’s grip on its lucrative iPhone app store, threatening to siphon billions of dollars away from one of the world’s most profitable companies.,

The justices rejected Apple’s appeal of lower-court rulings that found some of Apple’s app store rules for apps purchased on more than 1 billion iPhones constitute unfair competition under California law.

In turning away Apple’s effort to maintain exclusive control over in-app payments, the court lifted a hold on an order to allow app developers throughout the U.S. to insert links to other payment options besides its own within iPhone apps. That change would make it easier for developers to avoid paying Apple’s commissions ranging from 15% to 30%.

Judge blocks JetBlue’s $3.8B buyout of Spirit Airlines

DALLAS — A federal judge on Tuesday sided with the Biden administration and blocked JetBlue Airways from buying Spirit Airlines, saying the $3.8 billion deal would reduce competition.

The Justice Department had sued to block the merger, saying it would drive up fares by eliminating Spirit, the nation’s biggest low-cost airline.

Bipartisan effort to enhance child tax credit, revive tax breaks for businesses

WASHINGTON — The chairmen of the top tax policy committees in Congress announced a bipartisan agreement Tuesday to enhance the child tax credit and revive a variety of tax breaks for businesses, a combination designed to attract support from lawmakers of both political parties.

The roughly $78 billion in tax cuts would be paid for by more quickly ending a tax break Congress approved during the COVID-19 pandemic that encouraged businesses to keep employees on their payroll.

The agreement was announced by Sen. Ron Wyden, the Democratic chairman of the Senate Finance Committee, and Rep. Jason Smith, the Republican chairman of the House Ways and Means Committee.