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Google are set for a record $5bn fine

google 5bn fine

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The European Union is set to fine Google with nearly 4.3 billion euros (US $ 5 billion) for an Android app, according to a source familiar with EU decisions.

This record fine is equivalent to the Dutch contribution to the Union budget, and will be announced in Brussels later today.

The EU's decision will make the total amount of running fines to the company of 6.7 billion for the past year, knowing that the amount will increase by the end of 2018.

The calculations show that this fine is unlikely to knock down the shares of the technology giant, as according to reported earnings for 2017, the company generates the same amount in just 16 days.

Source: Bloomberg Finance L.P.


 Trader Nikolay Georgiev

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