The European Union is working on an investigation into the way major American technological firms operate overseas, as per reports. Separate from the ongoing anti-trust investigation that has firms such as Google Inc (NASDAQ:GOOGL) under the scanner, the plan is a wide-ranging assessment that will include everything from US internet behemoths, telecoms firms and streaming services. The European Union contention is that the move is a way to protect both EU consumers and firms.
Figures out this week point to Silicon Valley search giant Google more than doubling the quantity of money it spent lobbying European Union officials last year across a gamut of issues.
However for all the money thrown and effort expended, Google’s investment is not giving the returns it expected. EU officials recently declared they were submitting formal antitrust charges against Google, and were initiating a second probe into Android’s market power.
As per Reuters, the leading lobbying spenders in Europe remain Exxon Mobil Corporation (NYSE:XOM), Royal Dutch Shell plc (ADR) (NYSE:RDS.A) and Microsoft Corporation (NASDAQ:MSFT). Each firm disclosed spending $5 million to $5.6 million this year. Microsoft’s spending is substantial subsequent to years of fighting its antitrust battles in Europe.
Google is lagging these firms but closing the gap rapidly. Last year Google revealed spending between $3.4 million and $3.9 million. However, while the leading three firms were relatively stable in their spending, Google’s spending was up significantly from the $1.4 million to $1.7 million the firm spent on lobbying in Europe in 2013.
Firms file reports regarding lobbying activities and spending in the EU’s Transparency Register. According to Google, its lobbying focused on innovation, jobs and growth, information protection and intellectual property.
On the other hand, Apple Inc. (NASDAQ:AAPL) spent less than $1 million on lobbying last year in spite of having its issues in Europe specifically related to taxes. Facebook, the subject of a wide range of data investigations spent below $600,000. Amazon.com, Inc. (NASDAQ:AMZN) spent below $800,000.
