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
Direct trading using the 2 national currencies will be launched on the interbank forex market on Dec. 12, says FX watchdog
The Bank of France revised its 2016 and 2017 growth forecast down to 1.3 percent, having previously expected growth of 1.4 percent this year and 1.5 percent next year.
Ursula von der Leyen held talks with her Saudi counterpart, Deputy Crown Prince Mohammed bin Salman, on boosting the "excellent bilateral relations" between the two countries, the mission added.
Most analysts predict president Mario Draghi will extend an 80-billion-euro ($86-billion) per month bond-buying scheme beyond the current March deadline at his press conference.
A record-setting wave of Chinese investment abroad has fuelled concern in Beijing over capital flight, reckless spending overseas, and the yuan's fall against the US dollar.
The deal is part of a broader privatisation drive and comes despite Moscow being mired in Western sanctions over the crisis in Ukraine that have played a major part in plunging the country into recession.
Germany’s ambassador to Ankara says German companies operating in Turkey should think about tomorrow
After months of disagreement, OPEC members last week hammered out a deal to cut oil output for the first time in eight years.
Ali Shareef al-Emadi predicted growth of 3.4 percent in 2017, in line with an International Monetary Fund estimate and up from a projected 3.2 percent this year.
"Many citizens in advanced economies are facing heightened uncertainty, lamenting a loss of control and losing trust in the system," Carney said in a speech at Liverpool's John Moores University.
European stock markets are also set for a weak start, with Italy underperforming as investors brace for turbulence and political crisis in the euro zone's heavily indebted third-largest economy.
The euro tumbled on Monday after Italian Prime Minister Matteo Renzi said he would resign as he conceded defeat in a referendum over his plan to reform the constitution
Rouhani's 2017-2018 budget is based on oil prices of $50 per barrel, up from $40 last year, with a focus on unemployment, water resources, railways and the environment.
Turkish parliament has already ratified the deal on construction of ‘TurkStream’ natural gas pipeline
The September rate was revised to 9.9 percent from the 10 percent first given last month.