Amazon, Apple, Google slapped with billions in fines and tough laws by EU
- Tech giants are regularly criticised over how they gather and use personal data. EU’s 2018 General Data Protection Regulation is now an international reference
- Brussels slapped about US$8 billion in fines on Google alone for abusing its dominant market position. Accuses other social platforms of not sharing revenue
The European Union is on a mission to rein in US tech giants, which have been accused of tax avoidance, stifling competition, raking in billions from news without paying for it and spreading misinformation.
In the past few years, the EU has slapped eye-watering fines on Apple and Google in tax and competition cases, and drawn up a landmark law to curb the market dominance of Big Tech. Brussels has also toughened its code of conduct on disinformation and hate speech.
A European court on Wednesday rejected Google’s appeal against a 4.3-billion-euro antitrust fine (US$5 billion at the time it was levied), as the battle between Brussels and Silicon Valley continues.
The digital giants are regularly criticised for dominating markets by elbowing out rivals.
In July, the European Parliament adopted the Digital Markets Act to curb the market dominance of Big Tech, with violations punishable with fines of up to 10 per cent of a company’s annual global sales.
Brussels has slapped over eight billion euros in fines on Google alone for abusing its dominant market position.