Google hit by record fine

Google hit by record fine

The European Commission (EC) has served Google a whopping €2.42bn (£2.15bn) fine for abusing its dominance as a search engine. Following a seven-year investigation, Margrethe Vestager, the EU's competition commissioner, has ruled that Google has given its own shopping channel "an illegal advantage" which "denied other companies the chance to compete" and left consumers without "genuine choice". The company has 90 days to make changes or parent company Alphabet (US:GOOGL) must hand over up to 5 per cent of its average daily worldwide revenue. It must also "refrain from any measure that has the same or an equivalent object or effect".

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