Alphabet's GOOGL.O Google was fined a total of €890 million ($1 billion) on Thursday for flouting European Union rules aimed at reining in the power of Big Tech, the European Commission said.
However, the US tech giant is likely to avoid fresh fines as EU regulators lauded good progress in its ongoing efforts to comply with the landmark legislation.
The fines underscored Europe's determination to prevent Big Tech companies from thwarting rivals, defying US criticism and retaliatory tariff threats.
On Friday, US President Donald Trump on Friday blasted the European Union over what he called its "illegal' decision to fine Google, saying Washington would launch a probe into the bloc's "robbing" of American companies.
"We will immediately initiate a 301 Investigation into the practice of “ROBBING” American Companies," Trump said in a social media post, referring to Section 301 of the Trade Act of 1974.
"The European Union will pay a very big price for this illegal and highly unethical conduct," he wrote.
Volkswagen's supervisory board has approved a transformation plan on Thursday that will include cutting another 50,000 jobs in its attempt to counter painful tariffs, overcapacity, and aggressive Chinese rivals.
The UAE Ministry of Economy and Tourism has outlined new regulations aimed at strengthening the fight against commercial fraud, protecting consumers and improving market oversight.
Apple is facing a £2 billion ($2.7 billion) London lawsuit brought on behalf of app developers over its app tracking rules, with the iPhone maker accused of abusing its power to unfairly impose greater restrictions on third parties.
Shares in online fast-fashion retailer Shein have fell 8 per cent in their first day of Hong Kong trade on Tuesday, with investors worried about the impact of setbacks that long delayed its listing and have undermined its competitive advantages.