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Google Businesses EU

Google's Record Fine of $2.8 Billion Was a 'Deterrent,' EU Says (bloomberg.com) 71

The European Union was aiming for a "deterrent effect" on Google and other technology giants when it ordered the Android-maker to pay 2.4 billion euros ($2.8 billion) for breaching antitrust law over how it displays shopping ads. From a report: Regulators weighed "the need to ensure that the fine has a sufficiently deterrent effect not only on Google and Alphabet but also on undertakings of a similar size and with similar resources," the European Commission said in a 215-page document laying out details of its seven-year investigation into the company. The "particularly large" revenue of Google's parent, Alphabet, also determined the size of the fine, the EU said. The penalty, levied in June, was more than double an earlier 1 billion-euro fine on Intel and came with a threat of more daily fines for Google if it didn't comply with an order to offer equal treatment to rival shopping-comparison services. Big numbers for big technology names have been a theme for EU Competition Commissioner Margrethe Vestager, who ordered Apple Inc. to pay back some 13 billion euros in taxes last year.
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Google's Record Fine of $2.8 Billion Was a 'Deterrent,' EU Says

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  • So they noticed... (Score:5, Insightful)

    by Actually, I do RTFA ( 1058596 ) on Monday December 18, 2017 @02:23PM (#55762863)

    I'm glad someone (even if it's the EU, not the US) caught on. Fines that can be paid as a standard part of doing business are an expense, not a deterrent.

    I honestly don't know if this fine is significant enough to actually defer Google.

    • Re: (Score:2, Interesting)

      by Anonymous Coward

      A colleague of mine worked for a company here in the US that did extreme B1/B2 visa abuse. They would have people man their offices, fresh off the boat from India, and every 3-6 months, ship them all back, and bring in another boatload. The fines? Part of doing business, because it was cheaper to pay the relatively tiny fines than it is to actually play the game.

      I wish the EU would actually do some serious fines, and do it often. The GDPR may be the only thing that might companies even consider spending

    • Exactly. This shouldn't be news. If the fine weren't intended to act as a deterrent then that would raise the question of precisely what it is intended for. Deterring companies from breaking the law is the reason that we have punishments for companies breaking the law.
  • Antitrust is whenever a business performs unfair/underhanded actions that result in hurting competitors or society in a way that is outside "the norm".

    Well it could be argued then that political parties that lie in politics are doing the same thing to their competitors. Anything illegal could be lumped into this kind of strategy, no?

    I think we'd solve a LOT of problems we're facing this way. Then each party locks into their platform and whoeverso is elected must execute each promise within their term, or fa

    • by Xest ( 935314 )

      A better solution is to just get rid of parties.

      Democracies like the UK's and the US' which are representative democracies are supposed to be about having local representatives to push local issues such that respective parliaments come up with consensus that are at least palatable to a majority.

      Parties are an affront to that, because they require that representatives override the local interest with party interest where there is a clash.

      So in countries like the US or UK, we either need to ban parties or all

  • Pretty soon your talking about real money.
  • Fines are a line item on the annual report.

    Heck, they're actually in the addendum, and most investors don't even read them (but should).

  • "EU Competition Commissioner Margrethe Vestager, who ordered Apple Inc. to pay back some 13 billion euros in taxes last year"
    No, the commission ordered Ireland to revert a long-standing case of corporate welfare done in a manner that violate the Common Market rules.

  • Related TED video:

    How Amazon, Apple, Facebook and Google manipulate our emotions

    https://youtu.be/xRL2vVAa47I [youtu.be]

"Go to Heaven for the climate, Hell for the company." -- Mark Twain