The European Union accused Google Inc on Wednesday of cheating consumers and competitors by distorting Web search results to favour its own shopping service, after a five-year investigation that could change the rules for business online.It also launched another antitrust investigation into the Android mobile operating system, a key element in the U.S. tech giant's strategy to maintain revenues from online advertising as people switch from Web browser searches to smartphone apps.Competition Commissioner Margrethe Vestager said Google, which dominates Internet search engine markets worldwide, had been sent a Statement of Objections - effectively a charge sheet - to which it has 10 weeks to respond.Investigations into Google's business practices in other areas would continue. The shopping case, on which the EU has had the most complaints dating back the longest time, could potentially set a precedent for concerns over Google's search products for hotels, flights and other services.
Google Inc. (Google) is a global technology company. Shares of GOOG traded higher by 0.1622% or $0.8601/share to $531.25. 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 1322919.
Google Inc. (Google) is a global technology company. Shares of GOOGL fell by 0.15% or $-0.81/share to $538.97. 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 1371184.
Source
