financetom
Business
financetom
/
Business
/
EU Court Junks $1.67 Billion Antitrust Fine on Google
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU Court Junks $1.67 Billion Antitrust Fine on Google
Sep 21, 2024 1:07 AM

06:33 AM EDT, 09/18/2024 (MT Newswires) -- The EU general court said Wednesday it annulled a fine imposed by the bloc's Commission on Alphabet (GOOG, GOOGL) unit Google ( GOOG ) of almost 1.5 billion euros ($1.67 billion), pointing out errors in the Commission's assessment.

Google ( GOOG ) had faced complaints over three clauses in the services agreement of advertising service AdSense for Search for indicating that services competing with AdSense could be foreclosed. The Commission in 2016 found that Google ( GOOG ) committed an infringement from the three clauses and imposed the fine.

While the court said it upheld most of the Commission's findings, it noted that the Commission failed to demonstrate that the clauses could in fact have a foreclosure effect, or if they could have possibly deterred innovation and harmed consumers. It was also not established whether the clauses had helped Google ( GOOG ) abuse its dominant position in the market.

"We are pleased that the court has recognized errors in the original decision and annulled the fine," a Google ( GOOG ) spokesperson told MT Newswires. "This case is about a very narrow subset of text-only search ads placed on a limited number of publishers' websites. We made changes to our contracts in 2016 to remove the relevant provisions, even before the Commission's decision."

Price: 161.45, Change: +1.17, Percent Change: +0.73

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Blueprint Medicines Expects Systemic Mastocytosis Franchise to Generate $4 Billion by 2030 -- Shares Up
Blueprint Medicines Expects Systemic Mastocytosis Franchise to Generate $4 Billion by 2030 -- Shares Up
Jan 13, 2025
12:12 PM EST, 01/13/2025 (MT Newswires) -- Blueprint Medicines ( BPMC ) said Monday it now projects the peak revenue opportunity for its systemic mastocytosis franchise at $4 billion, with Ayvakit likely to achieve annual revenue of $2 billion by 2030. The company said its BLU-808 treatment for mast cell disorders was well-tolerated at all doses tested in a phase...
--BioMarin Pharmaceutical Sues Ascendis Pharma for Patent Infringement in Germany
--BioMarin Pharmaceutical Sues Ascendis Pharma for Patent Infringement in Germany
Jan 13, 2025
12:12 PM EST, 01/13/2025 (MT Newswires) -- Price: 66.72, Change: -0.66, Percent Change: -0.98 ...
First Atlantic Nickel Acquires RPM South Claims at the Atlantic Nickel Project
First Atlantic Nickel Acquires RPM South Claims at the Atlantic Nickel Project
Jan 13, 2025
12:10 PM EST, 01/13/2025 (MT Newswires) -- First Atlantic Nickel ( FANCF ) Monday said it acquired a 100% interest in mining license 038152M, consisting of 12 mineral claims in central Newfoundland, known as the the RPM South claims. The claims are situated immediately south of the recent discovery at the RPM Zone, which is part of the 30-kilometer nickel...
Constellation Brands Shares Likely to See Limited Downside, RBC Says
Constellation Brands Shares Likely to See Limited Downside, RBC Says
Jan 13, 2025
12:10 PM EST, 01/13/2025 (MT Newswires) -- Constellation Brands ( STZ ) is likely to see limited downside on its share price as the current valuation is implying no long-term growth, RBC Capital Markets said in a note Monday. At its current Street valuation (12.1x FY26E EPS), STZ shares imply 0% topline growth long-term, which places it in line with...
Copyright 2023-2026 - www.financetom.com All Rights Reserved