Google owner Alphabet’s profits drop after $5bn fine but shares surge

The EU accused Google of ‘serious illegal behaviour’ to secure its dominance in mobile search, but investors shrugged off the fine

Google parent company Alphabet reported a sharp drop in profits on Monday as the company absorbed the likely $5bn cost of a record-breaking fine from European regulators.

The European Union fined Google earlier this month after accusing it of “serious illegal behaviour” to secure its dominance in mobile search. The company is appealing the decision but included the charge in its latest quarterly earnings report.

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Trump calls Washington Post ‘expensive lobbyist’, reigniting war with Bezos

President tweeted that the newspaper had ‘gone crazy’ against him and claimed it lobbies on behalf of the Bezos-owned Amazon

Donald Trump has renewed his attacks on the world’s richest man and his arch nemesis, Jeff Bezos, railing against the Bezos-owned Washington Post and Amazon, the original source of the entrepreneur’s $150bn fortune.

Related: Why does Trump hate Jeff Bezos: is it about power or money?

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