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Trump said in a post on Twitter

“WASHINGTON (Reuters) – U.S. President Donald Trump on Thursday criticized the European Union over a record $5 billion fine EU antitrust regulators imposed on Google, saying the bloc was taking advantage of the United States” writes Min Read for reuters.com. The 4.34 billion euro ($5 billion) fine is nearly double the previous penalty that the company was ordered to pay last year, but it represents a little more than two weeks of revenue for its parent company, Alphabet Inc.EU officials on Wednesday also ordered Google to stop using its popular…

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Kimberly-Clark weighs sale of European tissues business: sources

“(Reuters) – Kimberly-Clark Corp is exploring a sale of its European tissue business, as it tries to slash costs and combat slowing sales by exiting less profitable areas, according to people familiar with the matter” reports businessinsider.com. The maker of Kleenex tissues and Huggies diapers has contacted private equity firms to gauge their interest in acquiring the business, which is likely to fetch above 1 billion euros ($1.2 billion), the sources said. Source: businessinsider.com Share This:

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Trump says EU’s $5 billion fine on Google is proof the US is being taken advantage of

“On Wednesday, Margrethe Vestager, the EU’s commissioner for competition, told CNBC’s “Squawk on the Street” that the decision would protect European consumers” writes Ariel Shapiro for cnbc.com. President Donald Trump said Thursday that the European Union’s antitrust ruling against Google is proof that it is taking “advantage of the U.S.” On Wednesday, the EU hit Google with a $5 billion fine, alleging the company had violated antitrust laws by bundling its apps like Chrome and Google Play with its Android operating system. Google’s CEO, Sundar Pichai, said in a statement…

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GBP News 

Britain seeking finest solutions to expand trade ties with Iran

“Following the U.S. withdrawal from the deal in May, Iran has said it would stop complying with the nuclear deal unless it continues to receive the economic benefits of the 2015 agreement” reports tehrantimes.com. That deal saw most international sanctions on Tehran lifted in exchange for strict but temporary restrictions on Iran’s nuclear work.The British official named banking issues as the main challenge on the way of boosting Iran-Europe trade which should be coped with as soon as possible.The move is the first concrete sign that Europe could deliver on…

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EU mulls coal, pharma, chemicals tariffs if U.S. hits cars: Wiwo

“BERLIN (Reuters) – The European Union will consider introducing tariffs on coal, pharmaceuticals and chemical products from the United States if President Donald Trump imposes restrictions on European cars, Germany’s Wirtschaftswoche magazine reported on Thursday” writes Midwest Communications Inc for 95kqds.com. Juncker is due to meet Trump on July 25 and has said he will explain that the European Commission coordinates trade policy for the 28-nation bloc.Juncker heads to Washington next week to discuss strained trade relations between the EU and U.S. after Trump imposed tariffs on EU steel and…

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Markets News 

EU’s Moscovici warns of hit to markets if trade tensions escalate

“BERLIN (Reuters) – A further escalation in trade policy tensions between the European Union and the United States would hit financial markets and hurt both sides, said European Commissioner for Economic and Financial Affairs Pierre Moscovici” writes Midwest Communications Inc for 95kqds.com. “An escalation – no matter from which side – would have serious consequences for the economy, including for the financial markets, which would hurt all sides,” Moscovici told the Augsburger Allgemeine newspaper in an interview.”That’s why we need a gateway to get out of this spiral that ultimately…

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Markets News 

JPMorgan’s Erdoes warns of market volatility underpinned by monetary policy, geopolitics

“Mary Callahan Erdoes, CEO of J.P. Morgan’s asset & wealth management unit, and one of the more prominent women on Wall Street, warned that financial advisers were standing in front of “a lot of never haves” in terms of macroeconomic conditions, citing the degree of quantitative easing and globalization, as well as the fact that there hasn’t been a trade war in a half century” writes Anneken Tappe for marketwatch.com. She also warned that a tapering or ending asset purchases by the European Central Bank could introduce a funding short-fall…

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Google slapped with $5 billion fine by EU for Android antitrust breach

“European regulators say Google has required manufacturers to pre-install the Google Search app and Chrome app as a condition for licensing Google’s Play Store” writes Stan Schroeder for mashable.com. In June 2017, European regulators fined Google $2.72 billion for promoting its shopping comparison service over others in its search engine results.European antitrust regulators have fined Google with a 4.34 billion euro ($5.04 billion) fine for abusing its position in the smartphone market to increase the dominance of its search engine, the European Commission announced in a statement Wednesday.This is illegal…

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EU and Japan reach a deal on seamless user data transfer between European Economic Area and Japan; the deal should come into effect by the end of this year

“The Commission said the decision would mean that personal data could flow from the European Economic Area to Japan, without needing any further safeguards or authorizations” writes Min Read for reuters.com. BRUSSELS (Reuters) – The European Union reached a deal on Tuesday allowing businesses to seamlessly transfer personal data between the bloc and Japan, deepening economic links as the two sides also agree a free-trade pact.However, strict EU data protection rules forbid companies from storing Europeans’ information on servers in countries deemed to have an inadequate level of privacy –…

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EU chief to visit Trump on July 25 for trade talks

“BRUSSELS (Reuters) – European Commission President Jean-Claude Juncker will visit U.S. President Donald Trump in Washington on July 25 to discuss strained trade ties” writes Midwest Communications Inc for 95kqds.com. “President Juncker and President Trump will focus on improving transatlantic trade and forging a stronger economic partnership,” the Commission said in a statement on Tuesday that announced the date.However, with Trump threatening to target the politically and economically more sensitive car industry, the Commission, which conducts trade negotiations for all 28 EU states, is hoping to at least give Trump…

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