The European Union accused Google Inc on Wednesday of cheating competitors by distorting Internet search results in favour of its Google Shopping service and also launched an antitrust probe into its Android mobile operating system.In a statement, Competition Commissioner Margrethe Vestager said the U.S. tech giant, which dominates Internet search engines globally, had been sent a Statement of Objections -- effectively a charge sheet -- to which it can respond."I am concerned that the company has given an unfair advantage to its own comparison shopping service, in breach of EU antitrust rules," she said. "If the investigation confirmed our concerns, Google would have to face the legal consequences and change the way it does business in Europe."The Commission, whose control of antitrust matters across the wealthy 28-nation bloc gives it a major say in the fate of global corporations, can fine firms up to 10 percent of their annual sales -- or a penalty of over $6 billion for Google.
Google Inc. (Google) is a global technology company. Shares of GOOG fell by 1.63% or $-8.78/share to $530.39. In the past year, the shares have traded as low as $487.56 and as high as $599.65. On average, 1885300 shares of GOOG exchange hands on a given day and today's volume is recorded at 2597617.
Google Inc. (Google) is a global technology company. Shares of GOOGL fell by 1.61% or $-8.86/share to $539.78. In the past year, the shares have traded as low as $490.91 and as high as $608.91. On average, 2118970 shares of GOOGL exchange hands on a given day and today's volume is recorded at 2361218.
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