View Single Post
Old 06-27-2017, 03:24 AM  
wehateporn
Promoting Debate on GFY
 
wehateporn's Avatar
 
Industry Role:
Join Date: Apr 2007
Posts: 27,173
Google hit with record EU fine over Shopping service


Google has been fined 2.42bn euros ($2.7bn; £2.1bn) by the European Commission after it ruled the company had abused its power by promoting its own shopping comparison service at the top of search results.

The amount is the regulator's largest penalty to date against a company accused of distorting the market.

The ruling also orders Google to end its anti-competitive practices within 90 days or face a further penalty.

The US firm said it may appeal.

However, if it fails to change the way it operates the Shopping service within the three-month deadline, it could be forced to make payments of 5% of its parent company Alphabet's average daily worldwide earnings.

Based on the company's most recent financial report, that amounts to about $14m a day.

"What Google has done is illegal under EU antitrust rules," declared Margrethe Vestager, the European Union's Competition Commissioner.

Continued Google hit with record EU fine over Shopping service - BBC News
__________________
wehateporn is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote