World Bulletin / News Desk
Google has presented detailed proposals to allay anti-competitive concerns about its business practices, the EU antitrust regulator said on Friday, in a move which brings the company a step closer to resolving a two-year investigation.
The European Commission has been investigating the world's most popular search engine following complaints from more than a dozen companies, including Microsoft, that Google has used its market power to block rivals.
Asked if he had received Google's proposal to resolve the matter, EU Competition Commissioner Joaquin Almunia told Reuters: "Yes."
He declined to provide details on the proposal, adding only: "We are analyzing it."
The Commission, which acts as competition regulator in the 27-member European Union, is now expected to seek feedback from Google rivals and other interested parties.
Almunia told Google Executive Chairman Eric Schmidt in December his company had until this month to present a comprehensive offer to allay regulatory concerns and stave off a possible fine.
Such a penalty could be as much as 10 percent of global turnover if a company is found to be in breach of EU rules. That could mean $4 billion if there is no satisfactory resolution in Google's case.
The Commission has said Google may have favored its own search services over
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Deficit decreased by 10.3 percent year-on-year to reach approximately $4.5B in March, according to TurkStat
BIST 100 index opens 0.15 percent higher, US dollar/Turkish lira rate stands at around 3.58
Net profit rose 28 percent to $4.8 billion while revenues edged up eight percent to $22.1 billion in the quarter ending March 31, Microsoft said.
The group reported a net loss of 68 million euros ($74 million) between January and March, compared with an 8-million-euro loss in the same period last year.
Exchange rate dipped to as low as 3.56 points for first time in 8 weeks
Sales progressed 7.0 percent to 13 billion euros ($14.2 billion), the aeronautics giant said. For 2017, it forecast the delivery of more than 700 commercial aircraft, up from 688 in 2016.
Late liquidity lending rate increases to 12.25 percent; overnight borrowing and lending rates unchanged
Nasdaq climbs above 6,000 points for first time in history
BIST 100 index hits new record high on Wednesday morning; US dollar/Turkish lira rate stands around 3.58
BIST 100 index starts Tuesday with a new record high; US dollar/Turkish lira rate stands at around 3.57
Borsa Istanbul's BIST 100 index exceeds 93,400 points during Monday transactions
The French vote was being closely watched as a bellwether for populist sentiment following the election of Donald Trump as US president and Britain's vote to leave the EU.
IFC CEO Philippe Le Houerou said the fund will "lower the risk for the private sector and attract new investors -- essentially creating a market where there was none."