The European Union has fined Microsoft $357 million (280.5 million euro) and threatened it with more to come, saying it failed to abide by a 2004 antitrust order to share information so that rivals' software might better communicate with Windows, reports the Associated Press. Microsoft said it would appeal, claiming the file amount is unfair.
The EU imposed daily fines of 1.5 million euro ($1.91 million) from Dec. 15 to June 20 - and said it would double the fine rate to 3 million euro a day ($3.82 million), starting July 31, if Microsoft does not provide "complete and accurate" technical information to developers.
The EU said it had shown restraint, since the EU can fine a company up to 5 percent of its annual global revenue - or a fine of 4.28 million euro ($5.47 million) a day. Microsoft earned $2.98 billion in the quarter ended March 31 on revenues of $10.9 billion.