EU's Big Win: Apple and Google Face Billions in Penalties

The European Union's highest court has delivered a major blow to Apple and Google, ruling against the tech giants in two landmark cases. The decisions, which could lead to billions of euros in penalties, are seen as a significant test of efforts to clamp down on the world's largest technology companies. Apple has been accused of striking illegal deals with the Irish government, allowing it to pay virtually nothing in taxes on its European business in some years. Google, on the other hand, was fined 2. 4 billion euros for giving preferential treatment to its own price-comparison shopping service in search results. The decisions have significant implications for the tech industry, with Apple expected to record a one-time income-tax charge of nearly $10 billion in its fourth quarter. Google has already adjusted its products to comply with the 2017 decision, but some competitors have complained that the changes haven’t gone far enough. The EU’s antitrust chief, Margrethe Vestager, hailed the decisions as a major victory, saying they marked a pivotal shift in how digital companies are regulated.