Microsoft Slammed With $731M Fine

    NEW YORK, NY - OCTOBER 25:  The Microsoft Windows 8 logo is displayed following a press conference unveiling the Microsoft Windows 8 operating system on October 25, 2012 in New York City.  Windows 8 offers a touch interface in an effort to bridge the gap between tablets and personal computers.  (Photo by Mario Tama/Getty Images)

    Mario Tama/Getty

    Microsoft did not hold up its end of a 2009 bargain with European Union regulators to give its users the option to use Web browsers other than Internet Explorer, and now it must pay. The EU fined the software company $731 million for violating the terms of its agreement. This amount hardly makes a dent in the company’s wallet—it’s only about 1 percent of Microsoft’s 2012 revenues—but it brings the amount of money owed in penalties over the last decade to a whopping €2.24 billion euros, about $2.9 billion. “I hope this decision will make companies think twice,” EU Competition Commissioner Joaquin Almunia said at a press conference Wednesday.

    Read it at Bloomberg