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Actionable news in QCOM: QUALCOMM Incorporated,

Qualcomm Loses Appeal Against European Union $665,000 Daily Fine

Qualcomm Inc (QCOM) lost an appeal Monday in its battle against a $665,000 daily fine from European Union antitrust regulators, Reuters reported.

The chipmaker was accused of using anticompetitive strategies to squeeze British software maker Icera out of the market. Qualcomm asked the EU's Luxembourg-based General Court to suspend the order last month.

Qualcomm said the competition authority's demands would cost no less than 3 million euros, but Court President Marc Jaeger said Qualcomm didn't "give any explanation as to why it would be impossible to seek compensation for the alleged financial costs it would suffer by answering the questions."

Qualcomm stock traded slightly down after the market's open.

What's Hot on TheStreet

Amazon wants to upend every business, or so it seems: New day, a new business Amazon (AMZN) wants to dip its toes in. The latest looks to be the meal kit space, TheStreet reports.

In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and [sic] vegetables...ready for cooking...


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