|Wow! Largest fine ever for this evil, greedy company! LMAO!|
Google hit with $2.7 billion fine by EU antitrust regulators
The European Union’s antitrust regulator on Tuesday fined Alphabet Inc.’s Google a record €2.42 billion ($2.71 billion) for favoring its own comparison-shopping service in search results and ordered the search giant to apply the same methods to rivals as its own when displaying their services in search results.
The decision could force broader changes to the way Google GOOG, -2.06% designs its search results in Europe because it sets a possible precedent for other search services, such as travel and maps, which the EU is also scrutinizing.
“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,” said EU antitrust chief Margrethe Vestager. “What Google has done is illegal under EU antitrust rules.”