Google parent hit with record £2.1bn fine by European Commission

For 'illegal advantage'

Alphabet, the parent of popular search engine Google and owner of YouTube and Android, has been hit with a £2.1bn fine by the European Commission for abusing its dominance in web searches.

Shares in the tech giant fell almost 3% in after-hours trading as in results for the three months to the end of June, Alphabet revealed the European Commission had fined the business resulting in a 40% reduction in profits, according to the BBC. The regulator said the group had abused its power by promoting its own shopping comparison service at the top of search results. Apple shares temporarily fall 14% after trading glitch hits Nasdaq stocks It is the regulator's largest ever penalty against a company accused of distorting the market but Alphabet has already said it may challen...