Mobile payments are having a heyday. Apple Pay has been splashed across the news and 20-somethings are paying for taxis with their smartphones. Yet one stalwart risks being left out of the conversation: PayPal.
Apple Inc.’s tax agreements with Ireland were criticized as unfair by European Union regulators who said the deals were improperly designed to give the iPhone maker a financial boost in exchange for jobs in the country.
Apple plunged 2.9 percent to send technology stocks in the Standard & Poor’s 500 Index to the biggest plunge since April. Biogen Idec Inc. and TripAdvisor Inc. lost at least 3.3 percent as investors sold some of the bull market’s biggest winners.