<h1>Tech Giants Slapped with EUR700M Fines for Blocking Competition and Limiting Consumer Choices Under Digital Markets Act</h1> European Union regulators fined a major technology company 500 million euros for preventing app developers from directing users to alternative purchasing options, and another technology company 200 million euros for restrictive advertising practices. The penalties were imposed under the Digital Markets Act, aiming to enhance consumer choice and prevent digital market monopolies. Both companies indicated they would appeal the decisions, challenging the regulatory approach and asserting compliance efforts.