EU fines Google $1.7 billion for blocking rival advertisers
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The European Union's anti-trust regulator has fined U.S.-based Google L.L.P. about €1.5 billion ($1.7 billion) for abusing its monopoly in online advertising for more than 10 years, The Guardian reported. Margrethe Vestager, the EU's competition commissioner, said that Google imposed anti-competitive contractual restrictions on third-party websites if they wanted to use its technology. The fine accounts for 1.3% of Google's turnover in 2018.
