Vestager

Europe's top trustbuster thinks it'll be impossible to break up Facebook

Margrethe Vestager (previously) is the EU Commissioner responsible for handing out billions in fines to Big Tech to punish them for monopolistic practices. Read the rest

The EU's ambitious, fearless antitrust czar is unlikely to win another term

Margrethe Vestager (previously) has been the EU antitrust commissioner for five years, and now she is getting ready to step down (her party is unlikely to prevail next year, so she will likely be replaced), having presided over an unprecedented era of antitrust enforcement that has seen billions of euros extracted in penalties from Google, Apple and Facebook, with Amazon now under her microscope. Read the rest

Sheryl Sandberg ordered Facebook staff to investigate George Soros after he gave THIS speech (READ IT)

Sheryl Sandberg asked Facebook staff to research George Soros because he gave a speech boldly critical of the social media giant as a “menace,” reports the New York Times tonight. Read the rest

EU antitrust enforcers investigate Amazon's predatory private-label products

Amazon's best selling wholesales have long accused the company of mining their sales data to discover which products are most profitable; then Amazon clones the product and offers it for sale at a lower price than the wholesales can afford (because Amazon doesn't have to worry about a wholesale-retail markup when it's both wholesaler and retailer at once) and tweaks its search and recommendation system to drive sales to its private-label versions of its partners' products. Read the rest

Europe fines four electronics companies $130,000,000 for price-fixing

Margrethe Vestager (previously), the EU's fire-breathing antitrust regulator, has hit Asus, Denon & Marantz, Philips and Pioneer with $130,000,000 (€111,000,000) in fines for fixing minimum prices at which their goods could be sold online. Read the rest

EU fines Qualcomm over $1 billion for anti-competitive iPhone deal

The US -- allegedly a bastion of the "free market" -- has one of the world's lowest levels of economic competition, thanks to the triumph of the Chicago School economists, who used shitty math to convince Ronald Reagan and his successors that the only time a monopoly is a problem is when it raises prices. Read the rest

EU fines Google €2.42B for anti-competitive behaviour

The EU had been expected to fine Google a little over €1B for its anti-competitive practice of promoting its own shopping service over competitors' in search results: today's €2.42B comes as a surprise, as does the ongoing fine if it fails to change its behavior within 90 days -- up to €10.6m a day, or 5% of parent company Alphabet's total daily earnings. Read the rest

Apple told to pay €13bn in back taxes to Ireland

Ireland offered Apple huge tax breaks, but didn't give other companies the same deal. The European Commission concluded this was illegal and the company must pay up the €13bn it would otherwise have owed in taxes.

The Commission said "selective treatment" allowed Apple to pay tax rate of 1% on European Union profits in 2003 down to 0.005% in 2014.

The findings are a result of the culmination of a three-year investigation by Competition Commissioner Margrethe Vestager into tax arrangements for Apple, dating back 25 years.

In a statement, the EC said the benefit is "illegal under EU state aid rules, because it allowed Apple to pay substantially less tax than other businesses. Ireland must now recover the illegal aid."

That's 5 cents for every thousand dollars made. Read the rest

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