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EU competition chief Vestager to announce antitrust decision on Thursday

“BRUSSELS (Reuters) – European Commissioner for Competition Margrethe Vestager will hold a news conference on Thursday to announce an antitrust decision, which is expected to be on Gazprom The European Commission said in a statement that Vestager would hold a news conference, indicating it was likely to be at around 1200 CET (1000 GMT), on an antitrust decision, without specifying the subject” writes Midwest Communications Inc for 95kqds.com. Reuters was the first to report on April 3 about the deal between the EU competition enforcer and Gazprom, which supplies about…

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U.S. Banks Urged to Make Small Loans In Competition With Payday Lenders

“The OCC believes that banks can offer these loans safely, profitably, and with reasonable pricing and repayment terms,” according to the bulletin” writes Bradley Keoun for thestreet.com. A top U.S. financial regulator urged banks to jump into the market for small, short-term loans, in a move that some consumer advocates say could shield millions of strapped borrowers from the triple-digit interest rates offered by payday lenders, pawn shops and other last-resort money sources.”This is a reasonable recognition that, with some regulatory clarity, banks can be a big part of the solution in…

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Feds open door to more bank competition with payday lenders

“A top bank regulator opened the door Wednesday to greater bank competition with payday lenders and check cashers by offering smaller loans for short periods of time” writes Ap Photo Rogelio for washingtonexaminer.com. The move is the latest shift in the landscape of federal regulation of small-dollar loans.Another agency, the Consumer Financial Protection Bureau, recently finalized a rule to regulate payday loans nationwide to prevent people from falling into “debt traps” of high cost loans.Otting suggested that banks could serve a significant portion of the market for small loans for…

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Markets News 

EU antitrust official sees more scrutiny for Facebook, others

“Valletti cited two-sided markets connecting separate user groups – which in the case of Facebook are consumers and advertisers” reports businessinsider.com. If anything I would expect more intervention in two-sided markets,” he said.Unlike internet search engine Google which has been in the EU antitrust crosshairs for close to a decade, Facebook has not drawn the attention of the Commission, the world’s most aggressive competition enforcer.FILE PHOTO: Silhouettes of mobile users are seen next to a screen projection of Facebook logo in this picture illustration Thomson Reuters By Foo Yun Chee…

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Meet Margrethe Vestager, Europe’s Competition Czar

“Under Vestager’s authority, the Commission for Competition ordered the tech company to pay a fine of 13 billion euros, plus interest” writes Nathan Reiff for investopedia.com. Margrethe Vestager, the competition commissioner for the European Union, recently made headlines for taking strong action against Alphabet Inc.’s Google (GOOGL) and other major tech companies around the world. For the time being, the company has paid the $2.7 billion fine levied in 2017, but Vestager’s work may not yet be done.More recently, Vestager has targeted Amazon.com Inc. (AMZN) with a fine of 250 million…

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Cannes Film Festival 2018 awards: ‘Shoplifters’ Wins Palme d’Or

“Kore-eda has been a regular at Cannes since 2001, when his third film Distance screened in competition” writes Film Critic for telegraph.co.uk. With a female-led jury and two highly acclaimed films by women at the forefront of the competition pack, this year’s Palme d’Or was widely anticipated to strike a blow for sisterhood, at the climax of a Cannes Film Festival that often felt like it was struggling to catch up to the #MeToo and #TimesUp moment. Source: telegraph.co.uk Share This:

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Sainsbury-Asda M&A plan may undergo U.K. scrutiny

“The U.K. competition watchdog said Friday that it is considering investigating the proposed merger between J Sainsbury PLC (SBRY.LN) and Walmart Inc’s WMT, -1.90% British arm, Asda Group Ltd” writes Maryam Cockar for marketwatch.com. The Competition & Markets Authority said it will consider whether the proposed merger will “result in a substantial lessening of competition within any market or markets” in the U.K. for goods or services. The CMA said it is issuing a preliminary invitation to comment, asking interested parties to submit views on the impact that the proposed…

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Judge Trims ‘Baby Come Back’ Royalties Lawsuit Against Vivendi

“A royalties lawsuit over Player’s 1977 hit “Baby Come Back” is one step closer to trial after a California judge on Wednesday allowed a trimmed version of the complaint to move forward” writes Ashley Cullins for billboard.com. Overrated has 20 days to amend its unfair competition claim to address Doyle’s concern that it failed to plead unlawful conduct. Source: billboard.com Share This:

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