Apple and Google face major setbacks in EU court ruling

Apple and Google's parent company, Alphabet, recently suffered major defeats in the European Union.

The EU's highest court decided that Apple must pay €13 billion (about $14.4 billion) in back taxes because it received special tax benefits from Ireland that were deemed unfair. Meanwhile, Google was fined €2.4 billion for misusing its market power by promoting its own products over others in search results.

EU antitrust chief Margrethe Vestager called these rulings a win for European taxpayers, highlighting the need for fair tax practices. Apple CEO Tim Cook expressed frustration over the decision, predicting a $10 billion tax charge for the next quarter. Google also criticized the ruling, even though it had previously tried to address EU concerns.

These cases show the EU's determination to hold big tech companies accountable and regulate their practices.