Thursday, July 19th, 2018

Google is Hit with a $5 Billion Fine
EU News Release

On Wednesday, the European Union fined Google $5 Billion for breaching antitrust rules.

It stated that Google imposed illegal restrictions on Android device manufacturers and mobile network operators since 2011 in an effort to cement its dominant position in general internet search.

The EU stated that the tech giant must end its illegal practices within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google’s parent company.

Google looks to appeal the ruling.

Costco Rolls Out Delivery in Canada
Financial Post

The Financial Post reported on Wednesday that Costco will launch grocery delivery for its customers in Southern Ontario.

The move is expected to help it compete against other rivals such as Walmart, Loblaws, and Amazon.

The company looks to expand the service to the rest of Ontario and into Quebec over the coming months. Plans for other regions in Canada have not yet been given a timeline.

Moneygram Expands its Digital Service
Company Press Release

The company stated that it’s launching its online platform in Australia, the Netherlands, Belgium, Portugal, and Austria.

Customers in those new markets will be able to send money 24 hours a day, 7 days a week, directly to more than two billion bank accounts and mobile wallets or to any MoneyGram location in more than 200 countries and territories.

Tiffany & Co. is Running a Secret Innovation Lab

According to Bloomberg, the company has launched a 17,000 square-foot space dedicated to innovative prototypes, projects, and initiatives.

The shop which is located in New York offers 3D printers and other tools such as wooden mallets for designers to create new products that would potentially make its way to the company’s retail stores.