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Google hit with record $5 billion EU antitrust fine
EU antitrust regulators hit Google (GOOGL.O) with a record 4.34 billion euro ($5 billion) fine on Wednesday for using its Android mobile operating system to squeeze out rivals. The penalty is nearly double the previous record of 2.4 billion euros which the U.S. tech company was ordered to pay last year over its online shopping search service. It represents just over two weeks of revenue for Google parent Alphabet Inc. and would scarcely dent its cash reserves of $102.9 billion. But it could add to a brewing trade war between Brussels and Washington. EU antitrust chief Margrethe Vestager said she very much liked the ... (full story)
