EU fines Meta $840m over unfair trading conditions, others

<p><&sol;p>&NewLine;<div id&equals;"the-post">&NewLine;<div class&equals;"featured-area">&NewLine;<div class&equals;"featured-area-inner">&NewLine;<figure class&equals;"single-featured-image"><img width&equals;"1200" height&equals;"600" class&equals;"attachment-jannah-image-post size-jannah-image-post wp-post-image" alt&equals;"EU fines Meta &dollar;840m over unfair trading conditions&comma; others" data-main-img&equals;"1" decoding&equals;"async" fetchpriority&equals;"high" data-lazy- src&equals;"https&colon;&sol;&sol;toptechblitz&period;com&period;ng&sol;wp-content&sol;uploads&sol;2024&sol;11&sol;compressed&lowbar;1731690934626&period;jpg&period;webp&period;webp"&sol;><img width&equals;"1200" height&equals;"600" src&equals;"https&colon;&sol;&sol;toptechblitz&period;com&period;ng&sol;wp-content&sol;uploads&sol;2024&sol;11&sol;compressed&lowbar;1731690934626&period;jpg&period;webp&period;webp" class&equals;"attachment-jannah-image-post size-jannah-image-post wp-post-image" alt&equals;"EU fines Meta &dollar;840m over unfair trading conditions&comma; others" data-main-img&equals;"1" decoding&equals;"async" fetchpriority&equals;"high" &sol;><&sol;figure>&NewLine;<&sol;div>&NewLine;<&sol;div>&NewLine;<div class&equals;"entry-content entry clearfix">&NewLine;<p>The <a target&equals;"&lowbar;blank" href&equals;"http&colon;&sol;&sol;gistreel&period;com&sol;tag&sol;eu" rel&equals;"noopener"><strong>European Union &lpar;EU&rpar;<&sol;strong> <&sol;a>has fined Meta the sum of &dollar;840 million over alleged unfair trading conditions and &OpenCurlyQuote;abusive’ Facebook ad practices&period;<&sol;p>&NewLine;<p>Giving details on the fine&comma; the EU noted that <a target&equals;"&lowbar;blank" href&equals;"http&colon;&sol;&sol;gistreel&period;com&sol;&quest;s&equals;meta" rel&equals;"noopener"><strong>Meta<&sol;strong><&sol;a> is guilty of breaching antitrust rules by giving users of its Facebook social network automatic access to Facebook Marketplace&period;<&sol;p>&NewLine;<p>The EU further noted that Meta is abusing its users by imposing unfair trading conditions on other online classified ads service providers that advertise on its platforms&period;<&sol;p>&NewLine;<p>This was contained in a statement by the EU competition chief&comma; Margrethe Vestager&comma; on Thursday&period;<&sol;p>&NewLine;<p>The statement partly reads&comma; &OpenCurlyDoubleQuote;<em>This is illegal under EU antitrust rules&period; Meta must now stop this behaviour&period; All <strong>Facebook<&sol;strong> users automatically have access and get regularly exposed to Facebook Marketplace whether they want it or not&period;<&sol;em><&sol;p>&NewLine;<p><em>&OpenCurlyDoubleQuote;Additionally Meta imposed unfair conditions on competitors in the classified ads service who advertised on Facebook and Instagram&period; This allowed it to use ads-related data generated by other advertisers for the sole benefit of Facebook Marketplace&period;”<&sol;em><&sol;p>&NewLine;<p>Reacting to the fine&comma; the tech giant dismissed the allegations by the EU&comma; explaining that Facebook users have the option to engage with the market place or not&period;<&sol;p>&NewLine;<p>The company further noted that it will appeal the EU fine&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;<em>Facebook users can choose whether or not to engage with Marketplace&comma; and many don’t&period; The reality is that people use Facebook Marketplace because they want to&comma; not because they have to&period; It is disappointing that the Commission has chosen to take regulatory action against a free and innovative service built to meet consumer demand<&sol;em>&comma;” the company said in a statement&period;<&sol;p>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<p><a href&equals;"https&colon;&sol;&sol;www&period;gistreel&period;com&sol;eu-fines-meta-840m-over-unfair-trading-conditions-others&sol;" previewlistener&equals;"true">Source link <&sol;a><&sol;p>&NewLine;