Conservative Political Forum

General Category => Financial => Topic started by: walkstall on July 18, 2018, 01:10:15 PM

Title: Why the EU Just Ordered Google to Pay a $5B Fine
Post by: walkstall on July 18, 2018, 01:10:15 PM

(Newser) – "We want Google to end its illegal behavior," says EU antitrust chief Margrethe Vestager, per the Guardian, and the regulator hopes a record $5.06 billion fine will compel it to do so. Described by the Wall Street Journal as the EU's "sharpest rebuke yet" to the power wielded by the upper echelon of tech companies, the bloc on Wednesday imposed the fine and ordered Google to stop pushing its apps in a way that stymies competitors. It has 90 days to comply or parent company Alphabet could be hit with additional fines of up to 5% of its average daily turnover. Google says it will appeal. The Journal explains that all but about 20% of all smartphones run on the Android operating system, and the allegation was that Google used that dominance as leverage to push its own apps.

more @