"European Union regulators on Friday hit Google with a 2.95 billion euro ($3.5 billion) fine for breaching the bloc's competition rules by favoring its own digital advertising services, but the bloc's latest move to crack down on Big Tech companies drew outrage from President Donald Trump. The European Commission, the 27-nation bloc's executive branch and top antitrust enforcer, also ordered the U.S. tech giant to end its "self-preferencing practices" and stop "conflicts of interest" along the advertising technology supply chain."
"Trump, whose administration has lashed out at the bloc over digital regulations and taxes imposed on U.S. tech companies, said the EU fine was "effectively taking money that would otherwise go to American Investments and Jobs." "Very unfair, and the American Taxpayer will not stand for it!" he said in a post on Truth Social. "As I have said before, my Administration will NOT allow these discriminatory actions to stand.""
"The Commission said its investigation found that Google "abused its power" by favoring its own online display advertising technology services to the detriment of competitors, online advertisers and publishers. The investigation focused on Google's AdX exchange and DFP ad platform, tools that bring together advertisers, who want to market their products, with online publishers, who want to sell commercial space on their websites."
European Union regulators fined Google €2.95 billion for breaching competition rules by favoring its own digital advertising services and ordered the company to end self-preferencing and stop conflicts of interest in the advertising technology supply chain. The investigation focused on Google's AdX exchange and DFP ad platform, which link advertisers and online publishers. The Commission found abuse of market power harming competitors, advertisers and publishers. Google has 60 days to propose remedies, or the Commission may impose an appropriate remedy. This marks the fourth multibillion-euro antitrust sanction against Google since 2017. President Trump criticized the fine as harmful to American investment and jobs.
Read at Africanews
Unable to calculate read time
Collection
[
|
...
]