Guidelines on calibration of circuit breakers and publication of trading halts under MiFID II
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Author Archives: GovWorldMag
Daily News 27 / 06 / 2017
Antitrust: Commission fines Google €2.42 billion for abusing dominance as search engine by giving illegal advantage to own comparison shopping service The European Commission has fined Google €2.42 billion for breaching EU antitrust rules. Google has abused its market dominance … read more
Interview with Eddie McGuire and Mick Molloy, Triple M Hot Breakfast
EDDIE MCGUIRE: Malcolm Turnbull joining us in in the studio this morning, good morning Prime Minister. PRIME MINISTER: Good morning. Eddie, good to see you. EDDIE MCGUIRE: Great to have you with us. Mick Molloy is going to have the … read more
Google ruling makes this a good day for fair competition and consumers – Watson
Tom Watson MP, Labour’s Shadow Secretary of State for Culture, Media and Sport, commenting on Google’s record fine for its shopping service, said:
“This ruling has been a long time coming and is a vindication of long running concerns about Google’s anti-competitive, unfair practices.
“When a company wields such power that it is effectively the gateway to the internet, it is the duty of regulators and lawmakers to verify that power is being exercised fairly. This ruling makes clear that Google shopping has not been operating fairly and could open the door to other investigations of similar examples of market distortion by the company.
“This ruling rights an unfair wrong, making this a good day for fair competition and consumers.”
Ends
Notes
· Today the European Commission has handed Google a record fine of 2.42bn euros ($2.7bn; £2.1bn) after it ruled the company had abused its power by promoting its own shopping comparison service at the top of search results.
· Google’s unfair advantage has been a source of long running concern with Tom Watson writing about the issue in 2013 https://www.theguardian.com/commentisfree/2013/feb/14/google-competition-searching-solution
read moreMolly Scott Cato responds to European Commission ruling against Google
27 June 2017
Commenting on the fact that Google has been fined 2.42bn euros (£2.1bn) by the European Commission after it ruled the company had abused its power by promoting its own shopping comparison service at the top of search results, Molly Scott Cato MEP, Green Party economics spokesperson, said:
“Rightly, the European Commission has come down heavily on one of the world’s most powerful corporations, which has been using its size and influence to achieve unfair competition. Attempts by Google to use its domination of the Search arena to favour its shopping comparison service represents a damaging extension of its monopoly power that must be resisted. The action by Commissioner Vestager is a good example of how the EU member states can act collectively to clamp down on corporate power; action an individual country may not feel able or willing to do on its own.
“Given previous scandals involving Google avoiding taxes in the UK and the powerlessness of tax authorities to tackle this [2], we must also remain focused on the risk that post-Brexit Britain will become a tax haven for corporations like Google.”
Molly Scott Cato went on to say:
“We also need the EU to stand up for digital start-ups that challenge the might of US digital monopolies and remain vigilant to prevent them using their market power to create barriers to entry.”
Notes
[1] http://www.bbc.co.uk/news/technology-40406542
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