{"id":6346,"date":"2020-09-20T12:48:37","date_gmt":"2020-09-20T12:48:37","guid":{"rendered":"https:\/\/www.sportsnewsforyou.com\/?p=6346"},"modified":"2020-09-20T12:48:37","modified_gmt":"2020-09-20T12:48:37","slug":"with-lurking-demand-google-be-broken-up-eu-hits-tech-giant-with-record-5-billion-antitrust-fine","status":"publish","type":"post","link":"https:\/\/googmn.com\/?p=6346","title":{"rendered":"With Lurking Demand Google Be Broken Up, EU Hits Tech Giant With Record $5 Billion Antitrust Fine"},"content":{"rendered":"
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The European Union (EU) on Wednesday hit Google with a record-breaking \u20ac4.34 billion ($5.06 billion) antitrust fine and ordered the tech giant to make changes that will scale back its dominance of the mobile phone market.<\/p>\n

Should Google be broken up? “The answer is yes.”<\/p>\n

Characterizing the move as “the EU’s sharpest rebuke yet to the power of a handful of tech giants,” the Wall Street Journal<\/em> reported:<\/p>\n

“These practices have denied rivals the chance to innovate and compete on the merits. They have denied European consumers the benefits of effective competition in the important mobile sphere,” declared EU competition commissioner Margrethe Vestager. “This is illegal under EU antitrust rules.”<\/p>\n

Concluding that Google has “imposed illegal restrictions on Android device manufacturers and mobile network operators” since 2011, the European Commission warned in a statement that “Google must now bring the conduct effectively to an end within 90 days or face penalty payments of up to five percent of the average daily worldwide turnover of Alphabet, Google’s parent company.”<\/p>\n

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News of the fine, which “accounts for around 40 percent of Google’s 2017 net profit of $12.62 billion,” has already had an impact\u2014the Journal <\/em>reported that following the announcement, “Shares in Alphabet, the company\u2019s parent, fell as much as 1.1 percent in premarket trading.” Google says it will appeal the decision.<\/p>\n

Noting that the penalty “dwarfs Google’s previous $2.7 billion record-breaking fine from the EU last year over manipulated search results,” The Verge <\/em>offered a comparison to those levied against other tech firms:<\/p>\n

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While the fine and mandate for changes were welcomed by tech experts, some called on Vestager to go further. Tweeting from a Wednesday morning press conference featuring Europe’s comeptition chief, Open Markets Institute fellow Matt Stoller posed that the company should be broken up.<\/p>\n

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Executive director of the European Publishers Council Angela Mills Wade, meanwhile, urged EU regulators to go after Google for its dominance in digital advertising.<\/p>\n

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Our work is licensed under a Creative Commons Attribution-Share Alike 3.0 License. Feel free to republish and share widely.<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The European Union (EU) on Wednesday hit Google with a record-breaking \u20ac4.34 billion ($5.06 billion) antitrust fine and ordered the tech giant to make changes that will scale back its dominance of the mobile phone market. Should Google be broken up? “The answer is yes.” Characterizing the move as “the EU’s sharpest rebuke yet to…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6346","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/posts\/6346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6346"}],"version-history":[{"count":0,"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/posts\/6346\/revisions"}],"wp:attachment":[{"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}