The European Commission has re-imposed a fine of around €376.36 million on Intel for a previously established abuse of dominant position in the market for computer chips called x86 central processing units (‘CPUs’). Intel engaged in a series of anticompetitive practices aimed at excluding competitors from the relevant market in breach of EU antitrust rules.
With today’s decision, we are re-imposing a €376.36 million fine on Intel for having abused its dominant position in the computer chips market. Intel paid its customers to limit, delay or cancel the sale of products containing computer chips of its main rival. This is illegal under our competition rules. Our decision shows the Commission’s commitment to ensure that very serious antitrust breaches do not go unsanctioned. - Commissioner Didier Reynders, in charge of competition policy
This seems pretty reasonable to me - just because someone gets a parking ticket doesn’t mean they should get their government benefits cut off
Yes, but fines for financial crimes should be greater than, or at the very least, equal to the money gained from said crimes.
I guess once you accept that legal entities are people subject to preferential treatment by the state, this logic checks out.
Money for buy backs of shares does not come from no where, taxpayers got to pitch in.