EU slaps Google with record $2.7 B fine for breaching competition rules: The European Union’s competition watchdog slapped Google with a record-breaking $2.72 billion fine on Tuesday for breaching antitrust rules with its online shopping service.

The announcement marks the latest clash between European regulators and U.S. technology companies like Google, Apple and Amazon that have been ensnared in antitrust, tax and privacy-related investigations by European officials.

Regulators said Google “abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service.”

The European Commission said the technology firm “gave prominent placement in its search results only to its own comparison shopping service, whilst demoting rival services. It stifled competition on the merits in comparison shopping markets.”

The Commission, which polices EU competition rules, gave the Mountain View, Calif., company 90 days to stop or face fines of up to 5% of the average daily worldwide turnover of parent company Alphabet.

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EU slaps Google with record $2.7 B fine for breaching competition rules: The European Union’s competition watchdog slapped Google with a record-breaking $2.72 billion fine on Tuesday for breaching antitrust rules with its online shopping service.The announcement marks the latest clash between European regulators and U.S. technology companies like Google, Apple and Amazon that have been ensnared in antitrust, tax and privacy-related investigations by European officials.Regulators said Google “abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service.”The European Commission said the technology firm “gave prominent placement in its search results only to its own comparison shopping service, whilst demoting rival services. It stifled competition on the merits in comparison shopping markets.”The Commission, which polices EU competition rules, gave the Mountain View, Calif., company 90 days to stop or face fines of up to 5% of the average daily