The European Union has decided to slap Google with a massive €2.4 billion fine after finding out it manipulated search results, effectively violating the antitrust law. According to The Verge, after seven years of investigation, Google was found guilty of favoring its own shopping comparison service, Google Shopping, in search results.
The fine was the largest ever handed out for breaching the antitrust law, easily topping the €1 billion penalty given to Intel in 2009. Google Shopping shows price comparison to users and Google effectively deprived its competitors a fair chance to rank up high on search results.
Part of the decision includes ordering Google to change its algorithm to give competitors a fair chance. If the company does not comply, the EU is threatening more damaging penalties amounting to as much as 5% of its average daily turnover.
As Born2Invest reported earlier this month, Google is also facing various allegations, on top of its results manipulation, which could merit more fines from the EU.
If Google goes down in Europe, it would be more of their own doing. In an article published by Business Insider, it revealed that Google maintains a stronghold in Europe than on American soil, prompting critics such as Microsoft’ Steve Ballmer and Yelp to describe it as a monopoly.
When Yelp conducted its own investigation, it found out its organic results often got buried under less important results from Google’s own content. Review sites such as Tripadvisor, which gets unique reviews from travelers around the world, have lower rankings in results compared to Google’s own Google+ review boxes, which only sources reviews from a select few.
Being a monopoly in Europe is not really viewed as a taboo. However, manipulating markets is obviously considered unfair. Google, with its dominance and popularity, is expected to flex its financial muscle and technical expertise to counter the charges thrown at them.
UK consumer spending takes a hit from the heat wave
The secret to success, according to Amazon CEO Jeff Bezos
Will Lombok’s tourism recover from the recent earthquake?
Why the Greek economic crisis is not yet over
The do’s and don’ts of using video ads in 2018
‘Phenomenal’ PotNetwork a ‘Strong Speculative Buy’ according to Harbinger Research
How IoT is revolutionizing the retail sector
Best ways to measure your employee’s productivity
PepsiCo CEO Indra Nooyi to step down this October
5 social media campaign ideas for restaurants
Strengthening the cooperation among countries to generate inclusive growth
H&R Block and IBM Watson are revolutionizing tax preparation
IMF message: Interconnectedness needs to be preserved
Can we use smartphones while driving 100% safely?
Innovative electricity tech from ABB provides better life
Business4 days ago
A ‘Guardians of the Galaxy’ reboot? It’s possible
Business5 days ago
The top reason mortgage fraud is still prevalent in the industry
Business2 days ago
Cyber firm claims WhatsApp flaw lets scammers manipulate messages
Crowdfunding4 days ago
3 crucial tips for crowdfunding success
Commodities5 days ago
Gem Diamonds announces sales skyrocketed in H1 2018
Commodities4 days ago
Condor Gold receives go signal to build mine in Nicaragua
Entrepreneurship4 days ago
Manage the pace of innovation through outsourcing
Featured5 days ago
12 actionable tips on how to get rich