Monday was supposed to be Apple’s day. In a sprawling 2½-hour launch, the iPhone maker announced a raft of software enhancements, including a new operating system (OS) for iPads, the killing off of iTunes and upgrades to the iPhone’s OS. A lot of it was hyperbole and an effort to catch up with Android or other apps.

But the big news on Monday was that the US department of justice would investigate Google and Apple, while the Federal Trade Commission (FTC) is looking into Facebook and Amazon. All four are accused of anticompetitive tactics for promoting their own services over those of rivals...

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