EU fine of 798 million for Facebook’s Marketplace

Brussels (ANSA) – The European Commission has fined the parent company of Facebook for violating competition rules. The charge is twofold: according to Berlaymont Palace, the California-based group has abused its dominant position in social networks to favor Facebook Marketplace, the popular platform for buying and selling second-hand goods.

“All Facebook users automatically have access to Facebook Marketplace and are regularly exposed to it, whether they want it or not,” is the Commission’s reasoning, according to which Facebook Marketplace’s competitors risk being “excluded from the market” if they are unable to match this “significant advantage.”

According to the European Antitrust, Meta has also imposed unfair trading conditions on other providers of classified online advertising services that advertise on its platforms, particularly on Facebook and Instagram. This practice allows Meta to use data related to ads generated by other advertisers exclusively to the benefit of Marketplace.

The Vice President of the Commission, Margrethe Vestager, has thus ordered to “put an end to this conduct” deemed “illegal under EU antitrust rules.” Shortly thereafter, Meta responded, also under scrutiny by Brussels for its rules on the use of personal data for targeted advertising. “The decision ignores – according to the social giant of Mark Zuckerberg – the realities of the market and will only serve to protect historic marketplaces from competition.”

Berlaymont Palace, Meta added, has provided “no evidence of competitive harm to rivals or harm to consumers.” For this reason, while committing to work “quickly and constructively” on “a solution that addresses the raised points,” the tech giant has announced its intention to appeal against the Commission’s decision (November 14).


Comments

One response to “EU fine of 798 million for Facebook’s Marketplace”

  1. In conclusion, the substantial EU fine of 798 million levied against Facebook’s Marketplace underscores the regulatory scrutiny faced by major tech companies regarding their compliance with competition laws. This significant penalty highlights the EU’s commitment to maintaining a fair digital marketplace and protecting consumer interests. As Facebook navigates this financial setback, the ruling serves as a crucial reminder for all digital platforms to prioritize ethical practices and transparency in their operations. The outcome may not only influence Facebook’s future strategies but also set a precedent for the broader tech industry in adhering to regulatory standards across Europe.

Leave a Reply

Your email address will not be published. Required fields are marked *

Last News

Spain vs Argentina Final Overshadowed by Capdevila’s Appeal Against U.S. Entry Denial

Spain vs Argentina Final Overshadowed by Capdevila’s Appeal Against U.S. Entry Denial

Madrid, July 18 Eurotoday Newspaper — Spain vs Argentina final preparations have been overshadowed after former Spain defender and 2010 FIFA World Cup winner Joan Capdevila revealed that he was denied authorization to enter the United States. Capdevila had planned to travel to New Jersey to watch Spain compete against Argentina in the World Cup final, but his travel authorization was rejected be

Read More

Reading Psalms for Common Spiritual and Life Needs

Reading Psalms for Common Spiritual and Life Needs

The Orthodox tradition provides specific Psalms for various spiritual needs, compiled by St. Arsenius of Cappadocia and popularized by St. Paisius of Athos.
Here are some Psalms selected for common spiritual and life needs as described by the saint:

Peace of mind, sadness, and despondency: Psalm 3, Psalm 4
Enlightenment, decision-making, and success: Psalm 2, Psalm 1
Fear and protection from ene

Read More

German Conservative Parliamentary Leader Resigns Amid Surrogacy Debate

German Conservative Parliamentary Leader Resigns Amid Surrogacy Debate

“The gap between my private decision to have a child through surrogacy and the understandable expectations placed on me as chair of our parliamentary group has become greater than I anticipated,” he stated.
While surrogacy is illegal in Germany, there is no penalty for raising a child born via surrogate abroad.
Spahn, a former health minister, faced hypocrisy accusations as Germany’s Christian Dem

Read More

ICICI Bank Q1 Profit Surges 15.9%, Exceeding Expectations in Private Sector Banks India

ICICI Bank Q1 Profit Surges 15.9%, Exceeding Expectations in Private Sector Banks India

Mumbai, July 18 Eurotoday Newspaper — Private sector banks India remained in focus after ICICI Bank reported a 15.9% year-over-year increase in first-quarter net profit, beating market expectations as strong loan growth and lower provisions boosted earnings. The lender reported standalone net profit of ₹148 billion for the April-June quarter, exceeding analyst estimates of about ₹131.8 billion.

Read More

Isaac Hammouch – Irak : un État entre renaissance et rivalités géopolitiques

Isaac Hammouch – Irak : un État entre renaissance et rivalités géopolitiques

Le défi d’Ali al-Zaidi face à l’Iran, aux États-Unis et aux fragilités d’un pays en reconstruction
L’Irak est aujourd’hui l’un des pays les plus stratégiques du Moyen-Orient. Sa position géographique, ses immenses ressources pétrolières et son histoire en font un acteur central des équilibres régionaux. Depuis la chute de Saddam Hussein en 2003, le pays s’efforce de reconstruire un État capable

Read More

Spain’s Sánchez to Attend FIFA World Cup Final Alongside Trump

Spain’s Sánchez to Attend FIFA World Cup Final Alongside Trump

Sánchez’s government has refused to increase defense spending to 5 percent of GDP, a target set by other NATO allies last year at Trump’s urging. During July’s NATO summit in Ankara, the U.S. president briefly threatened to cut all trade with Spain, calling the country “a wasted cause,” but walked back the warning a day later.
A spokesperson emphasized the brief natur

Read More

Apple Intelligence Drives Apple’s Quest for World’s Highest Market Value

Apple Intelligence Drives Apple’s Quest for World’s Highest Market Value

Cupertino, California, July 17 Eurotoday Newspaper — Apple Intelligence is helping strengthen investor confidence as Apple closes the gap with Nvidia in the race to become the world’s most valuable publicly traded company. Strong gains in Apple’s stock have reduced the difference in market capitalization, highlighting growing optimism about the company’s artificial intelligence strategy and futu

Read More

Antarctic Volcano Erupts Daily with Pure Gold Crystals

Antarctic Volcano Erupts Daily with Pure Gold Crystals

Scientists have observed an extraordinary event at an Antarctic volcano, which is emitting microscopic crystals of pure gold into the air daily, according to Indian Defense Review.
The Erebus volcano, the Earth’s southernmost active volcano, is situated on Ross Island, about 1,350 kilometers from the South Pole. It features a constant lava lake. Besides lava and gases, it releases something

Read More

How Food Delivery Works in Ukraine’s ‘Killing Zone’

How Food Delivery Works in Ukraine’s ‘Killing Zone’

The expanding conflict zone is causing towns and villages to empty, with thousands fleeing every month. June marked the deadliest period for Ukrainian civilians since April 2022, according to U.N. human rights monitors, noting at least 293 deaths and 1,990 injuries. Casualties from short-range drones near the front lines reached a peak. Those escaping front-line areas told U.N. staff of “fee

Read More

EU Sanctions Hit Russia’s Defense Sector, Targeting Executive and Five Companies

EU Sanctions Hit Russia’s Defense Sector, Targeting Executive and Five Companies

Brussels, July 17 Eurotoday — Russia defense sector has come under renewed pressure after the European Union announced sanctions against one Russian executive and five companies linked to drone production. The measures are part of the EU’s latest effort to limit access to financial resources, technology, and international business networks that could support Russia’s military capabilities. The s

Read More