Tuesday, June 27, 2017

EU slaps Google with record $2.7 billion fine....

European antitrust regulators slapped Google with a record €2.4 billion ($2.7 billion) fine on Tuesday for systematically favoring its own search results above those of its competitors.

The European Commission found that the U.S. tech giant used its search results to unfairly steer customers to its own shopping platform in a case that dates to 2010.

Regulators said that Google must change its behavior within 90 days or face additional penalties.

"What Google has done is illegal under EU antitrust rules," said Margrethe Vestager, the bloc's top antitrust official. "It denied other companies the chance to compete on the merits and to innovate. 

And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation."

Google (GOOGL, Tech30) has the right to appeal the decision. It did not immediately respond to a request for comment.
Intel (INTC, Tech30) has been fighting to overturn the previous record fine of €1.06 billion ($1.2 billion) since it was imposed by antitrust regulators in 2009.

This is not the only regulatory headache Google faces in Europe.
The EU has accused the Silicon Valley titan of abusing its market position by imposing restrictions on Android device manufacturers and mobile network operators.

It is also investigating the company's ad placing service, AdSense.

source: cnntech

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