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Europe fines Google record $2.7 billion for abusing market dominance

Discussion in 'BlackHat Lounge' started by bartosimpsonio, Jun 27, 2017.

  1. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Not gonna say anything this time. Just....LOL

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    Investing.com – The European Commission (EC) hit Google with a record fine of €2.42 billion ($2.7 billion) Tuesday for abusing market dominance.

    “Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service,” the EC declared on Tuesday.

    The ruling for a breach of European Union (EU) antitrust rules requires to end the conduct within 90 days or or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet (NASDAQ:GOOGL), Google's parent company.

    Commissioner Margrethe Vestager who heads EU competition policy praised Google’s “many innovative products”, but said that the comparison shopping service wasn’t just about attracting customers by making its product better than rivals.

    “Instead, Google abused its market dominance as a search engine by promoting its own comparison shopping service in its search results, and demoting those of competitors,” Vestager claimed.

    “It denied other companies the chance to compete on the merits and to innovate. And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation," she concluded.

    Google argues against the ruling, naming Amazon as a competitor

    Google’s general counsel Kent Walker responded to the ruling via the company blog.

    He explained that users want to find the products they’re looking for quickly and easily.

    “We believe the European Commission’s online shopping decision underestimates the value of those kinds of fast and easy connections,” Walker argued.

    “While some comparison shopping sites naturally want Google to show them more prominently, our data show that people usually prefer links that take them directly to the products they want, not to websites where they have to repeat their searches,” he explained.

    Walker also noted that the EC should consider that many sites that have grown in this period, citing platforms like Amazon (NASDAQ:AMZN) and eBay (NASDAQ:EBAY).

    “With its comparison tools, reviews, millions of retailers, and vast range of products from sneakers to groceries, Amazon is a formidable competitor and has become the first port of call for product searches,” Walker stated.

    “We compete with Amazon and other sites for shopping-related searches by showing ever more useful product information,” he added.

    “Given the evidence, we respectfully disagree with the conclusions announced today,” Walker said.

    “We will review the Commission’s decision in detail as we consider an appeal, and we look forward to continuing to make our case,” he concluded.

    Waiting for the U.S. open, shares of Google parent Alphabet Inc C (NASDAQ:GOOG) were down 1.50% to $938.00 in pre-market trade.

    https://www.investing.com/news/stoc...7-billion-for-abusing-market-dominance-499544
     
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  2. Nut-Nights

    Nut-Nights Jr. VIP Jr. VIP

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  3. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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  4. queenjude

    queenjude Junior Member

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    I doubt googles shopping service goes away soon but if and when it does - BiG opportunity for review sites to grab that real estate space in front page.
     
  5. leena

    leena Jr. VIP Jr. VIP

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    Yeah those spots are killing sales for my and millions of other websites. Those ad spots get like 90% CTR since they have images, and rest 10% Traffic is distributed to other 10 results.
     
  6. curiouskt

    curiouskt Regular Member

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    Logged in to read what @bartosimpsonio had to say about todays ruling,
    knowing how much you love G and all that lol :D
     
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  7. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    LOL. But I love Google, it's just a rough relationship.

    I think there'll be antitrust lawsuits too and I have a large stock of popcorn ready for that.
     
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  8. Ste Fishkin

    Ste Fishkin BANNED BANNED

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    Why can't you just leave Google alone.
     
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  9. Floopa75

    Floopa75 Jr. VIP Jr. VIP

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    BUT GOOGLE IS A PRIVATE COMPANY THEY CAN DO WHATEVER THEY WANT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  10. sturose

    sturose Jr. VIP Jr. VIP

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  11. Defeatenonce

    Defeatenonce Junior Member

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    Even if you mean this sarcastic. I do agree its their platform, so I think they can do whatever the hell they want with it.
     
  12. Frederik Kim

    Frederik Kim Newbie

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    Hello from Volkswagen #dieselgate :)
     
  13. sturose

    sturose Jr. VIP Jr. VIP

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  14. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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  15. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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  16. sturose

    sturose Jr. VIP Jr. VIP

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    Hey, just kidding buddy. No competition here. ;)
     
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  17. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    No, Sir, there IS competition. Clearly you beat me to the Google bashing and your thread replies hits Google much harder than mine. You won, Sir.
     
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  18. sturose

    sturose Jr. VIP Jr. VIP

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    No people at Google, they're all robots without emotion or feeling.

    Judgement day is coming!
     
  19. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Now in darkness, world stops turning
    Ashes where their bodies burning
    No more war pigs of the power
    Hand of God has stuck the hour
    Day of judgement, God is calling
    On their knees, the war pigs crawling
    Begging mercy for their sins
    Satan, laughing, spreads his wings
    Oh, Lord, yeah!
     
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  20. umerjutt00

    umerjutt00 Jr. VIP Jr. VIP

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