Google, Hit With Record $5 billion EU Antitrust fine, To Appeal

[Petar + 76]

EU antitrust regulators hit Google with a record 4.34 billion euro ($5 billion) fine on Wednesday and ordered it to stop using its Android mobile operating system to block rivals, a ruling which the U.S. tech company said it would appeal.The penalty is nearly double the previous record of 2.4 billion euros which the U.S. tech company was ordered to pay last year over its online shopping search service. It represents just over two weeks of revenue for Google parent Alphabet Inc. and would scarcely dent its cash reserves of $102.9 billion. But it could add to a brewing trade war between Brussels and Washington.

[Pavel + 384]

EU has no "excuse" when it comes to revenue grabbing. Fining US companies for antitrust? They will use any regulation and law to grab income from foreign companies.  

[franco + 96]

To be shared amongst those whose info were sold out or?

[damirUSBiH + 327]

If the EU get that $5bn, can someone tell me what they actually do with that money? Where does it go or to whom does it go? Maybe in the pockets of a Brussels administrations

[Petar + 76]

I found reaction. Google appeals EU judgment. Google does not accept a fine from EU  Competition Commissioner Margrethe Vestager, and appeals the judgment,  declares the world's largest IT giant.  - Android has created more  choices for everyone, not fewer - says spokesman Al Verney.

[rainman + 263]

Meanwhile, the UK fined FB a measly $660k last week. Clear to see where the power lies.

[Pavel + 384]

The EU know all about abusing their position. Like telling countries they can't have free trade without free movement of people *cough*...

[pinto + 293]

21 minutes ago, damirUSBiH said:

If the EU get that $5bn, can someone tell me what they actually do with that money? Where does it go or to whom does it go? Maybe in the pockets of a Brussels administrations

Probably, straight into the EU central budget. Since Google will have contributed more than 11 member countries do....

[Pumpitup + 2]

Brilliant ,Google is finally being held to account ,

and they have got plenty of money to pay even better ,

i think this is the first of quite a few $ 5 Billion fines that need to be slapped on to American firms that take advantage ,,, love it  

Edited July 18, 2018 by Pumpitup

[Guillaume Albasini + 851]

8 hours ago, damirUSBiH said:

If the EU get that $5bn, can someone tell me what they actually do with that money? Where does it go or to whom does it go? Maybe in the pockets of a Brussels administrations

"The money will go to EU member states". says the Guardian in its article.

https://www.theguardian.com/business/2018/jul/18/google-faces-record-multibillion-fine-from-eu-over-android