"European Union regulators on Friday hit Google with a 2.95bn ($3.5bn) fine for breaching the bloc's competition rules by favoring its own digital advertising services, marking the fourth such antitrust penalty for the company as well as a retreat from previous threats to break up the tech giant. The European Commission, the 27-nation bloc's executive branch and top antitrust enforcer, also ordered the US company to end its self-preferencing practices and take steps to stop conflicts of interest along the advertising technology supply chain."
"The decision arrived more than two years after the European Commission announced antitrust charges against Google. The commission had said at the time that the only way to satisfy antitrust concerns about Google's lucrative digital ad business was to sell off parts of its business. However, this decision marks a retreat from that earlier position and comes amid renewed tensions between Brussels and the Trump administration over trade, tariffs and technology regulation."
EU regulators penalized Google €2.95bn for favoring its own digital advertising services and ordered the company to stop self-preferencing and address conflicts of interest in the ad-tech supply chain. The European Commission concluded Google abused dominant positions in online display advertising technology, harming rival publishers, advertisers and ad-tech providers. Google said it would appeal, called the fine unjustified and warned the remedies would hurt thousands of European businesses' ability to make money. The case followed a formal investigation opened in June 2021 and reflects a retreat from earlier talk of forced divestitures amid broader geopolitical tensions.
Read at www.theguardian.com
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