On This Day - What happened 18 July 2018 AD

On July 18, Facebook established a subsidiary named Lianshu Science & Technology in Hangzhou City, China, with $30 million of capital. All its shares are held by Facebook Hong. Approval of the registration of the subsidiary was then withdrawn, due to a disagreement between officials in Zhejiang province and the Cyberspace Administration of China.

On July 18, 2018, the European Commission fined Google €4.34 billion for breaching EU antitrust rules.