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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Global Banking and Finance Review

    Posted on December 11, 2024

    Featured image for article about Finance

    By Foo Yun Chee

    BRUSSELS (Reuters) - More than 20 price comparison websites across Europe on Wednesday criticised Google's proposed changes to its search results, saying they still fail to comply with EU tech rules and urged regulators to impose charges against the Alphabet unit.

    Google has been discussing with the comparison sites, hotels, airlines, restaurants and retailers for more than a year now on how to comply with the Digital Markets Act (DMA), which prohibits it from favouring its products and services on its platform.

    Last month, it announced its latest proposal, which includes expanded and equally formatted units to allow users to choose between comparison sites and supplier websites.

    It may also bring back its old "ten blue links" format from years ago as an alternative if it can't agree with its rivals. This format is now being tested in Germany, Belgium and Estonia.

    The price comparison websites, which include Germany's Idealo and billiger.de, France's Le Guide, PriceRunner, Kelkoo and kieskeurig.nl and trovaprezzi.it, said Google has not listened to their feedback.

    "Google has simply, repeatedly, ignored this feedback, and instead continued to iterate on the same non-compliant solution for months," they said in an open letter.

    "If Google has not taken feedback into account after more than 100 events, it can only mean one thing: Google is wilfully not complying with the DMA."

    When asked for comment, Google referred to its Nov. 26 blog post where it pointed to the many changes it had made over the past year to comply with the DMA and find a solution.

    The websites called on the European Commission to act against Google.

    "The Commission has opened proceedings against Google for non-compliance. It must proceed with such proceedings, issue preliminary findings, and impose fines on Google, including periodic penalty payments, to force Google to finally listen and comply," they said.

    (Reporting by Foo Yun Chee; Editing by Aurora Ellis)

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