Ignoring Trump threats, Europe hits Google with 2.95B euro fine for adtech monopoly

The European Union (EU) has fined Google 2.95 billion euros for abusing its dominance in the online advertising market, despite threats from former US President Donald Trump. This fine is the result of a seven-year investigation into Google's AdTech business, which the EU believes has created a monopoly. The EU's antitrust chief, Margrethe Vestager, stated that Google has used its market power to favor its own advertising services, disadvantaging rivals and consumers. The investigation found that Google has unfairly restricted the ability of third-party websites to display search ads from Google's competitors. The EU has given Google two options: either comply with the ruling and change its practices, or face further fines. Additionally, the EU may consider breaking up Google's ad division if the company fails to address the concerns. This decision is part of the EU's broader efforts to rein in the power of big tech companies and promote fair competition in the digital market.