Market Chatter: Alphabet's Google Expected to Face New EU Digital Markets Act Penalties

MT Newswires Live07-15 20:09

Alphabet's (GOOG, GOOGL) Google is expected to face new European Union enforcement actions, including fines and regulatory orders under the Digital Markets Act, the Financial Times reported Wednesday, citing people familiar with the matter and internal European Commission documents.

The European Commission is expected to conclude that Google favored its own specialized services in search results and require the company to give app developers greater freedom to direct users to alternative mobile app systems, according to the report.

The EU may also threaten daily penalty payments if Google fails to comply, the report said.

Google and the European Commission did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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