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European Commission Fines Google €2.42 Billion for Abuse of Web Search Monopoly

The European Commission:

The European Commission has fined Google €2.42 billion for breaching EU antitrust rules. Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service.

The company must now end the conduct within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google’s parent company.

The euro and dollar remain roughly in balance — that’s about $2.7 billion today. My guess is Google just shrugs this off, pays the fine, and goes right back to promoting its own stuff in search results. (E.g. they favor their own local business listings over, say, Yelp’s.)

Tuesday, 27 June 2017