Apple says UK App Store proposal amounts to price regulation

LONDON, July 29 : Apple said on Wednesday that proposed UK rules governing its App Store would amount to price regulation, arguing that plans to loosen its control over in-app payments could undermine innovation and investment.In a submission to Britain's Competition and Markets Authority, the iPhone maker said proposed "steering" requirements would go beyond promoting competition and give the regulator a "highly intrusive" role in managing its business.The CMA's consultation, which closed on Monday, is part of its efforts to boost competition and consumer choice. Its proposed measures would allow app developers to direct users to payment options outside Apple's App Store and Google's Play Store and require any fees charged for such steering to be fair and reasonable. Apple said the App St