As a result, the Facebook-parent company could face up to R200 billion in fines.go to www.BusinessInsider.co.zaThe European Union filed a complaint against Meta for a potential breach in antitrust policies, citing the close link between the company's social network service Facebook and its online shopping platform Facebook Marketplace.
"With its Facebook social network, Meta reaches globally billions of monthly users and millions active advertisers," EU Antitrust Commissioner Margrethe Vestager said in a statement."Our preliminary concern is that Meta ties its dominant social network Facebook to its online classified ad services called Facebook Marketplace."
If Meta is found guilty, the tech giant could face a fine of up to 10% of its annual global revenue, the European Commission said. Based on its 2021 figures, that means the Facebook-parent company could pay up to $11.8 billion, the equivalent of more than R200 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business reacts positively to Ramaphosa second termBlack Business Council and Business Unity SA urge ANC leadership to reassure investors and implement policies Business can see
Source: BDliveSA - 🏆 12. / 63 Read more »
Facebook parent Meta warned by EU of breaking antitrust laws - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The European Commission on Monday said it has warned Facebook parent company Meta that it is breaching EU anti-trust laws by distorting competition in markets for online classified advertising and abusing its dominant position.
Source: SABCNews - 🏆 37. / 51 Read more »
Group life premiums are being hiked by 20% to 40% - what you need to know | BusinessIf you are an employee who enjoys group life cover, you need to be aware of what is happening to your benefits as there have recently been significant premium increases - driven by higher-than-expected pandemic deaths. | News24_Business _Business I was so brave to give a try after a Friend recommended Jerry, month ago i invested a min of $300 been a jobless hustler, but i literally can't tell of how happy i am right after a profit return of $2250 not much of it but surely it worth it, hit him up for tips JerryMelba _Business Come on, pandemic deaths? Don’t you mean vaccine deaths! _Business You mean the treatment not given to those who fell ill due to corporate media been bought by big Pharma and their advertising spend.
Source: News24 - 🏆 4. / 80 Read more »
Mantashe a no-show at ANC's Sunday business breakfastMantashe - who is contesting his position as ANC national chairperson, was presiding over the nomination process for the party’s top leadership which concluded in the early hours of Sunday morning. He busy on video calls for morning glory Too much chow yesterday?.. and don't forget the peanuts. 😂😂 He took a short left to the labor ward
Source: ewnupdates - 🏆 30. / 53 Read more »
Sam Bankman-Fried expected to reverse decision to contest extradition to US | BusinessFormer FTX CEO Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday.
Source: News24 - 🏆 4. / 80 Read more »
Q&A with Kganki Matabane, CEO of the Black Business Council, on EskomHours before Eskom CEO Andre de Ruyter resigned this week, Chris Barron asked Kganki Matabane, CEO of the Black Business Council, which had demanded that he be fired... Always blames his predecessor….kinda like always blaming apartheid for failures hahahaha Fuck this. Enough. It's time for a White Business Council. This boy is stupid and corrupt. He must just go to jail. Foreigners gave him money for position masepage
Source: SundayTimesZA - 🏆 47. / 51 Read more »