Google Appeals Record 2.4 Billion Euro Fine

Ellington Financial book value stable in August

Google on Monday launched a legal challenge to a record 2.4-billion euro fine imposed by European anti-trust authorities for favouring its own shopping service, lodging an appeal at the EU court in Luxembourg.

The tech giant has filed the appeal with the General Court of the European Union.

"The Commission's decision stands on firm ground, both legally and factually, and we expect the Commission to win on appeal", FairSearch lawyer Thomas Vinje said.

Oil steady as United States refining demand rises but ample crude supplies weigh
Irma barreled into Caribbean islands overnight with wind speeds up to 185 miles per hour (295 kph) and was heading for Florida. Another Atlantic storm, named Jose, is following on Irma's heels and has been upgraded to hurricane strength by the U.S.

The EC has ordered Google to stop its anti-competitive behaviour by 28 September, or risk penalty payments of as much as 5 percent of Alphabet's average daily worldwide turnover.

At the time of the ruling, Europe's antitrust chief Margrethe Vestager said Google's strategy for attracting customers to its online shopping service was not just about being better than rivals.

"Instead, Google abused its market dominance as a search engine by promoting its own comparison shopping service in its search results, and demoting those of competitors".

Barnier slams UK's position on Irish border
Downing Street has approached some of Britain's biggest companies asking them to publicly support the government's approach to Brexit .

Even on a desktop, the commission said, the ten highest-ranking generic search results on the first visible page together generally receive approximately 95 per cent of all clicks on generic search result. Normal results still show up underneath Google Shopping, but it still takes up nearly half of the screen.

The EU Court of Justice told a lower tribunal last Wednesday to re-examine USA chipmaker Intel's appeal against a 1.06 billion euro fine, dealing a rare setback to the Commission.

China supports UN action on North Korea, also pushes for dialogue
North Korea appeared to carry out its sixth and most powerful test explosion of a nuclear bomb on Sunday. Any threat to the USA or its allies will be met with a massive military response, the official said.

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