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Tensions rise between E.U. regulators and U.S. tech giants

Kirsty Wigglesworth / AP

European antitrust officials plan to slap a €1 billion fine on Google for abusing its search practices, the FT reports. Competition regulators say Google unfairly used its search dominance to steer customers to its own Google Shopping platform. The final decision is expected to be announced Wednesday, in what will undoubtedly strain tensions between Europe and Silicon Valley.

Why it matters: The Europeans don't share America's romantic view of Google, Facebook and other tech giants and are aggressively trying to highlight and restrain their market dominance, a move some White House officials such as Steve Bannon are watching closely as they debate future U.S. action.