Business Google Gets $2.7Bn Record Fine In EU Antitrust Ruling

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The European Commission fined Google Inc. a record $2.7 billion on Tuesday for breaching antitrust rules in favoring its own search services over its competitors.

Google has 90 days to end the conduct or face penalties of up to 5 percent of the average daily revenue of its parent company, Alphabet Inc.

The EC ruled that Google violated Europe's competition rules by showing preference to its own online shopping service over those of rivals.

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Google denied wrongdoing, saying eBay Inc. and Amazon Inc. offer significant competition in Europe.

Prior to the fine against Google, the record fine assessed by the EC was $1.19 billion, against Intel Corp. in 2009.
 
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