financetom
Business
financetom
/
Business
/
Google loses fight against $2.7 billion EU antitrust fine
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Google loses fight against $2.7 billion EU antitrust fine
Sep 11, 2024 12:13 AM

BRUSSELS (Reuters) -Alphabet's Google on Tuesday lost its fight against a 2.42 billion euro ($2.7 billion) fine levied by EU antitrust regulators seven years ago, one of a trio of hefty fines meted out to the company for various anti-competitive practices.

The European Commission fined the world's most popular internet search engine in 2017 for using its own price comparison shopping service to gain an unfair advantage over smaller European rivals.

A lower tribunal had endorsed the EU competition enforcer's decision in 2021, prompting Google to appeal to the Luxembourg-based Court of Justice of the European Union.

CJEU judges noted that EU law does not sanction the existence of a dominant position, but its abusive exploitation.

"In particular, the conduct of undertakings in a dominant position that has the effect of hindering competition on the merits and is thus likely to cause harm to individual undertakings and consumers is prohibited," they said.

Google has racked up 8.25 billion euros in EU antitrust fines in the last decade. It has challenged two rulings involving its Android mobile operating system and AdSense advertising service, and is now waiting for the judgments.

It is also fighting EU antitrust charges issued last year that could force it to sell part of its lucrative adtech business after regulators accused it of favouring its own advertising services.

The case is C-48/22 P Google and Alphabet v Commission (Google Shopping).

($1 = 0.9060 euros)

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 >
Intuit Delivers Solid Quarter, Alongside Margin Expansion, RBC Says
Intuit Delivers Solid Quarter, Alongside Margin Expansion, RBC Says
Aug 22, 2025
10:45 AM EDT, 08/22/2025 (MT Newswires) -- Intuit (INTU) delivered another solid quarter with Q4 and 2025 revenue up 20% and 16%, respectively, alongside solid margin expansion, RBC said in a Friday research note. The software company reported better than expected fiscal Q4, and provided fiscal 2026 guidance of $22.98 to $23.18 earnings per share and $21 billion to $21.19...
Swiss bank Safra Sarasin fined 3.5 million francs in 'Car Wash' probe
Swiss bank Safra Sarasin fined 3.5 million francs in 'Car Wash' probe
Aug 22, 2025
(adds dropped part of company name in third paragraph) ZURICH (Reuters) -Switzerland's attorney general has fined Swiss private bank J. Safra Sarasin SA 3.5 million Swiss francs ($4.3 million) under a years-long corruption and money laundering case surrounding Brazilian state oil company Petrobras, it said on Friday. In a statement, the highest Swiss prosecutors' office said the bank had settled...
Amazon lobbies Indian government to exempt exports from foreign investment rules, sources say
Amazon lobbies Indian government to exempt exports from foreign investment rules, sources say
Aug 22, 2025
By Aditya Kalra and Aftab Ahmed NEW DELHI (Reuters) -Amazon is lobbying the Indian government to ease its foreign investment rules to allow the U.S. company to buy products directly from Indian sellers to sell in overseas markets, four people with direct knowledge of the matter said. India currently prohibits companies like Amazon and Walmart from stocking and selling goods...
Walmart Maintained Strong Q2 Sales Momentum Despite Liability Claims Pressure, BofA Says
Walmart Maintained Strong Q2 Sales Momentum Despite Liability Claims Pressure, BofA Says
Aug 22, 2025
10:44 AM EDT, 08/22/2025 (MT Newswires) -- Walmart's ( WMT ) sales and margin trends remained strong in Q2 despite higher-than-expected general liability claims pressure, BofA Securities said in a Thursday research report. The brokerage modeled Q3 adjusted EPS of $0.60 and maintained its fiscal 2026 adjusted EPS estimate of $2.60 to reflect its forecast for 3% US comps in...
Copyright 2023-2026 - www.financetom.com All Rights Reserved