EU Court Ruling: Apple and Google Face Billions in Antitrust Liabilities
Tuesday, 10 September 2024, 05:00
Significant Antitrust Rulings Against Tech Giants
The recent ruling from Europe's highest court has confirmed that Apple is required to repay its €13 billion ($14.4 billion) tax break, which was categorized as illegal by the EU Commission in 2016. Concurrently, Google has suffered setbacks in an ongoing seven-year battle concerning its own antitrust practices.
Implications for Global Tech Market
- Apple faces immense financial repercussions, potentially shaking investor confidence.
- Google's prolonged litigation raises questions about regulatory scrutiny.
- The ruling imposes significant monetary implications on both companies.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.