Google fined $2.7 billion by E.U. in anti-trust ruling
December 11, 2018 / Proforma LBP Marketing Concepts
Google has been fined a record $2.7 billion for a breach of E.U. anti-trust rules. The search giant was charged with giving “illegal advantages” to another Google product within search results in a case that started more than seven years ago. The case relates specifically to Google Shopping, Google’s increasingly profitable shopping comparison engine. This fine dwarfs the previous record fine for the abuse of a monopoly doled out to Intel in 2009. The E.U. commission arrived at the figure by taking a percentage of Google’s revenue from its Shopping product across the 13 European countries in question since 2008. Should Google fail to comply with the terms set by the E.U. within 90 days, they will be fined 5 percent of the daily turnover of the parent company, Alphabet.