Google hit with a record-breaking €2.4 billion fine by the EU

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Google has been hit with a record-breaking €2.4 billion fine by the EU over its antitrust case

  • The European Commission has hit Google with a record-breaking €2.4 billion (£2.1 billion, $2.7 billion) fine in an antitrust case.
  • Google has also been ordered to change its practices to promote the shopping services of its competitors or be fined up to 5% of worldwide daily turnover.
  • It seems likely to further erode the uneasy relationship between much of Silicon Valley and Europe.
  • Europe’s competition commissioner, Margrethe Vestager, hinted it could act as a “precedent” to guide investigations of Google’s other businesses.
  • The ruling also opens the door to further legal action being taken against Google by competitors.
  • Google said it “respectfully” disagreed and was considering whether to appeal.

Read the full story on the Business Insider website here