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    AAPL   US0378331005

APPLE INC.

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Russia to go after Google this month with fine of up to 20% of annual turnover

10/19/2021 | 06:40am EST
FILE PHOTO: The logo of Russia's state communications regulator, Roskomnadzor, is reflected in a laptop screen showing Google start page in this picture illustration

MOSCOW (Reuters) - Russia said on Tuesday it would this month seek to fine U.S. tech giant Google a percentage of its annual Russian turnover for repeatedly failing to delete content deemed illegal, Moscow's strongest effort yet to rein in foreign tech firms.

Communications regulator Roskomnadzor said Google had failed to pay 32.5 million roubles ($458,100) in penalties levied so far this year and that it would now seek a fine of 5-20% of Google's Russian turnover, which could reach as much as $240 million, a significant increase.

Google did not immediately respond to a request for comment.

Russia has ramped up pressure on foreign tech companies as it seeks to assert greater control over the internet in the country, slowing down the speed of Twitter since March and routinely fining others for content violations.

Opposition activists have accused Alphabet's Google and Apple of caving to Kremlin pressure after they removed an anti-government tactical voting app from their stores.

Roskomnadzor earlier in October said it would ask a court to impose a turnover fine on social media firm Facebook, citing legislation signed by President Vladimir Putin in December 2020.

"A similar case will be put together in October against Google," Roskomnadzor said in emailed comments to Reuters on Tuesday, noting that the company also owned video-hosting site YouTube.

The SPARK business database showed that Google's turnover in Russia in 2020 was 85.5 billion roubles. A 5-20% fine would amount to between 4.3 and 17.1 billion roubles.

Google is currently fighting a court ruling demanding it unblock the YouTube account of a sanctioned Russian businessman or face a compounding fine on its overall turnover that would double every week and force Google out of business within months if paid.

($1 = 70.9450 roubles)

(Additional reporting and writing by Alexander Marrow; Editing by Kirsten Donovan)

By Gleb Stolyarov


ę Reuters 2021
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Financials (USD)
Sales 2022 379 B - -
Net income 2022 92 562 M - -
Net cash 2022 81 081 M - -
P/E ratio 2022 28,9x
Yield 2022 0,56%
Capitalization 2 703 B 2 703 B -
EV / Sales 2022 6,92x
EV / Sales 2023 6,59x
Nbr of Employees 154 000
Free-Float 99,9%
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Mean consensus BUY
Number of Analysts 44
Last Close Price 164,77 $
Average target price 167,27 $
Spread / Average Target 1,52%
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Managers and Directors
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
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