The European Union (EU) has imposed a record $5 billion fine on the United States (US) tech giant, Alphabet, for abusing its market dominance with its Android mobile operating system. The EU’s antitrust chief stated that Alphabet had been illegally tying its search and browser apps to the Android OS, giving it an unfair advantage over competitors. This fine surpasses the previous record antitrust fine of $2.8 billion imposed on Alphabet last year for favoring its own shopping service in search results. The EU has given Alphabet 90 days to end its anti-competitive practices or face additional penalties.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.