European Commission issues largest ever fine imposed on one single company

European Commission issues largest ever fine imposed on one single company

The analyst said it was "unclear" how Google would go about eliminating its anti-competitive bias in order to satisfy the EU's demand, but he did come up with a few suggestions.

"Whomever (Trump) appoints will clearly affect Google's USA antitrust exposure", Gallant said in a note to clients. "We will review the Commission's decision in detail as we consider an appeal, and we look forward to continuing to make our case", said a Google spokesperson.

Some commentators have suggested the European Union are merely trying to kerb the influence of "GAFA" - the American giants Google, Apple, Facebook and Amazon.

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The European Commission ordered the internet search company to stop the practice within 90 days or face a penalty of more than £10million per day.

Google pulls in about $US280 million per day, meaning the fine would be around the $US14 million a day mark. The commission found out that it has given prominent placement to Google Product Search in its search engine and has demoted rival comparison shopping services in its search results. ♦ Google is fighting on at least two other fronts, including for its Android mobile software and the AdSense online advertisement service.

European Union antitrust regulators on Tuesday hit Alphabet (GOOGL.O) unit Google with a record 2.42 billion Euro ($2.7 billion) fine, Reuters is reporting.

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Most importantly, she said Google's market strategy for comparison shopping has prevented consumers from access to genuine choices when they shop using its search engine. Instead, Google abused its market dominance and promoted its own services, Vestager emphasised. He estimates that Google Shopping generates revenues of between US$3.5bn and US$4bn in Europe every year.

"This decision is a game-changer". One worry is that the European Union could increase scrutiny of other USA internet giants, such as Facebook (FB) and Amazon.com. If it does, it would be arguing that a better product which serves users is more important than allowing fair competition on the platform.

Mark Patterson, a Fordham Law School Professor who specialises in antitrust law and internet law, said that the decision offers a "window" into "the dark side of Google's algorithms" but also said that it emphasises the need for more rigorous monitoring as tech companies become more dominant and powerful.

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It is up to Google to decide on the necessary changes to its shopping service, according to the EC. And if you're the king of search, as Google is, and you have aspirations of being a major player in ecommerce then you could abuse your power in search to queue jump your competitors.

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