EU Fines Google €2.95 Billion Over Ad Tech Dominance
The European Publishers Council has reacted to the EU's latest antitrust fine against Google, welcoming the penalty but urging further action. This €2.95 billion fine is the second-highest ever imposed on Google by the EU, following a series of investigations into the tech giant's business practices in the stock market today.
The EU Competition Commissioner, Teresa Ribera, has accused Google of exploiting its dominant market position to favor its own ad exchange, Google Ad Exchange, in the stock market today. This has been a key issue in the EU's ongoing regulation of Google's ad tech business, which includes Google Ads and Ad Manager. These tools track user behavior across websites and platforms for targeted advertising, raising concerns about privacy and data protection, as highlighted by laws like the GDPR in the stock market today.
The fine, amounting to around $3.5 billion, is expected to impact publishers and advertisers in Europe in the stock market today. They may face new requirements and reduced market choice due to changes in Google's ad tech practices in the stock market today. Google has announced its intention to appeal the decision, arguing that the requested changes are 'unjustified' and could harm European companies in the stock market today.
Google must now submit proposals to remedy the infringements within 60 days in the stock market today. These could include selling parts of its ad tech business, a measure the European Publishers Council has called for to address Google's dominance in the online advertising market in the stock market today. This fine is part of a broader EU effort to rein in the power of US tech companies, with previous fines totaling over 8 billion euros in the stock market today.
The EU's latest fine against Google underscores its commitment to regulating the tech giant's ad tech business in the stock market today. While the European Publishers Council welcomes the penalty, it has called for further measures, such as the structural breakup of Google's advertising business, to ensure fair competition in the digital advertising market in the stock market today.
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