In brief
Google has faced a hefty fine of €2.95 billion from the EU, accused of prioritizing its own advertising products over competitors. The penalty reflects ongoing scrutiny of the tech giant's practices in the ad tech industry. Google plans to appeal the decision, arguing it harms European businesses. The EU has warned of stricter oversight unless Google alters its methods within 60 days.
Google has been fined €2.95bn (£2.5bn) by the EU for allegedly abusing its power in the ad tech sector - the technology which determines which adverts should be placed online and where.
The European Commission stated on Friday that the tech giant breached competition laws by favoring its own products for displaying online ads, thus disadvantaging rivals.
This fine comes amidst increasing regulatory scrutiny into Google's extensive online search and advertising empire. Google has criticized the Commission's decision, claiming it is 'wrong' and intends to appeal.
Lee-Anne Mulholland, Google's global head of regulatory affairs, expressed that the fine is unjustified and detrimental to thousands of European businesses.
In response to the ruling, U.S. President Donald Trump also condemned the fine as 'very unfair', voicing concerns about European regulations towards American tech companies.
The Commission's fine follows a history of Google's anti-competitive behaviors, marking this as the third time the company has been penalized.
Future compliance is essential, as the Commission mandates Google to revise its practices within 60 days or face further measures. The scrutiny around Google's dominance in digital advertising heightens the ongoing debate about big tech’s influence in the market.
