Author: News Desk

Amazon (AMZN) faces a record-breaking £637 million ($887 million) EU privacy fines even though the tech giant was based in the tax haven in Luxembourg. The ramifications of this fine have sent a reverberating shockwave in California. Tech giants have long gone un-monitored but all that has now changed, now the EU will push to enforce other anti-trust and anticompetitive laws on the big six. Amazons stock price fell by almost 8% following the announcement on Friday closing at 3,327.59 USD−272.33 (7.56%) from Thursday. These EU privacy fines were imposed after the European Union data privacy regulator said the e-commerce giant had violated…

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