commission are accusing four banks of colluding to manipulate the price of certain bonds while the competition commission did not name the four suspects deutsche bank and credit suisse chose to declare that they are cooperating with investigators while french bank credit agricole acknowledge receipt of a quote statement of objections from regulators investigators are looking into suspected price fixing and the market for s.s.a. bonds in the period from two thousand and nine to two thousand and fifteen the european commission is empowered to sanction offenders found guilty with fines up to ten percent of their global revenue. a legacy name and cigarettes has taken a major stake in the infamous maker of the newest nicotine delivery technology u.s. tobacco giant altria the renamed philip morris companies incorporated announced they have spent twelve point eight billion dollars to claim a thirty five percent stake in jewel the maker of nicotine vaporizers jewels patented formulation of nicotine salts is reputed among users to pack a stronger punch and has been key to jewel success u.s. public health official

it is on trade, commissions, bureau of competition and of the department of justice antitrust division and now recognize myself for an opening statement. >> welcome to the tearing of the federal trade commission bureau of competition and department of justice antitrust division and the agencies that help consumers by protecting the free market. there is a broad scope of issues to cover. in this hearing, it comes to a vital time for many issues important to the american public. americans are concerned about the high cost of prescription drugs. one way to adjust those costs is to ensure the robust competition with the pharmaceuticals market. >> will introduce legislation to do just that. the food and drug administration restricts the distribution of certain pharmaceuticals for public safety reasons. unfortunately, these restricted distribution programs, known as risk evaluations and mitigation strategies, processes can be abused. they can be used as a pretext for bended -- branded manufacturers to deny generic manufacturers access. thereby delaying generic entry into the market. >> this

if the commission went to 22% in a competitive market, the developer takes home $.70, just as it does with apples 30% and a $.99 monopoly market. a 22% commission, the developer has zero damages. the developer would have positive damages if the commission for -- were zero, because then the app developer sustained damages of $.20. the developer would make the $.90 in a competitive market instead of the 70% that apple is now passing along by virtue of the monopoly market. negative ifwould be in a competitive market the conditions -- the commission's data 30%, because they are the benefits that would be achieved by the monopoly price of $.99 gives the developer an extra eight cents per transaction. in that way, the developer has a different claim that is based on lost profits. that would be irrespective of whether the buyer of the app, the consumer, sustains damage for the nine cents. you can run these out, get your law clerks out to run the different scenarios. it always works the same way. >> unless we are prepared to overrule the case, alcoa, i think all you have to show is that they

federal trade commission, bureau of competition and the department of justice anti-trust division and i now recognize myself for an opening statement. welcome to this hearing of the federal trade commissions bureau of department of justice anti-trust division is the agency that helps consumer by protecting the free market. there is a broad scope of issues to cover and this hearing comes to a vital time for many issues important to the american public. americans are concerned about the high cost of prescription drugs. one way to address those costs is ensure the robust competition in the pharmaceutical market. introducing to do just that, food and drug administration restricts the distribution of certain pharmaceuticals for safety reasons. ... this can keep prescription drug prices artificially high. data shows generic competition to reduce the price of branded drugs by more than 85%. even if the fda does not require a process for drug, a manufactured involuntarily restrict distribution through contracts with distributors or specialized pharmacies. that creates, that would ensure gener

competition policy is kirk -- is perfect -- purposely subject to politicization. commission is a policymaking body charged with enacting an agenda. the goals of the european competition enforcers are diverse and untethered them economic thinking. under article 102, firms can be arele for practices that unfair, place trading partners at a disadvantage or impose obligations on other non-contracting parties. but only are these sometimes mutually exclusive, but many are impossible to translate into economic area. the result is that regulators can pursue cases that fit within a political agenda, rather than focusing on limited practices. endorsing a european-style approach in order to justify high profile cases against large internet platforms would priors ties political -- would prioritize political experience the -- expediency over law. will a e.u. approach enshrine mediocrity where practices can be demagogues, especially by inefficient firms looking for a leg up. i urge this committee not -- just -- to consider whether the e.u. approach allows the government to reach a pre-exi

and finally, although commission competition decisions are subject to review, the e.u. appellate process is prolonged and provides a very broad margin of discretion to the commission. i think these institutional characteristics and procedures tend to reinforce the other doctrinal circumstances, the substantive views but professor addressed that give rise to an interventionist and uncertain prohibitions on dominant firm conduct relevant to the u.s. chillingourse, the effect as mentioned, is extremely important here, because both u.s. monopolization rules and e.u. every subdominant standards are enforced with very heavy remedies. an american firm subject to a monopolization case can be simply broken up, the way that the bell system was broken up or united machinery was broken up. many of these companies set up for hundreds of dollars in damages as a result of private damage suits under our statutes. of course the e.u., as you mentioned, it imposes multibillion dollar fines, and has not hesitated to do so on a variety of companies. the huge consequences of antitrust enforce

and finally, although commission decisions, competition decisions are subject to judicial review, the eu about process is extremely prolonged and gently provides a very broad margin of discretion to the commission. and i think these institutional characteristics and procedures tend to reinforce the other doctrinal circumstance, the substantive views the professor manne addressed that give rise to a much more interventionist and him and in many respects more uncertain prohibitions on dominant from conduct relevant to the u.s. now of course the chilling effect that is been mentioned as extremely important here because both u.s. monopolization rules and the eu abuse of dominance standards are enforced with very heavy remedies. an american firm that is subject to a monopolization case can be simply broken up the way that the bell system was broken up or the way united shoe machinery corporation was broken up. many of these companies suffer hundreds of millions or even billions of dollars in damages as a result of private treble damages suits under our statutes. and, of course, the eu as y

initiative competition and small and medium small but maybe big and but very competitive businesses presidential commission thank you russian presidential commission of aristide's of speaking to me there on the fringes of this week's russian british business forum and that's after the show will be back on monday to investigate the fact the u.k. backed alleged chemical attack on syria and to speak to brave hearted successions star brian cox patron of and the russian backed russian film week until then people touched by social media will see on monday thirty four years to the day of india's bhopal disaster which killed or injured more than six hundred thousand hacktivist group the yes men would later false be claimed the dow chemical company educated responsibility on the u.k. statement dated b.b.c. . join me every thursday on the all excitement and i'll be speaking to guests of the world of politics sports business i'm show business i'll see you then. what politicians do something to. put themselves on the line to get accepted or rejected. so when you want to be president or injury. or somehow want to be ri

initiative competition and small and medium not only small but maybe big and but very competitive businesses presidential commission thank you russian presidential commission of aristide of speaking to me there on the fringes of this week's russian british business forum and that's it for the show will be back on monday to investigate a factor u.k. backed alleged chemical attack on syria and this week the brave hearted succession star brian cox patron of and the russian backed russian film week until then people judged by social media will see on monday thirty four years to the day of india's bhopal disaster which killed or injured more than six hundred thousand activist group for yes men would later falsely claim the dow chemical company edge mitchard responsibility on the u.k. statement dated b.b.c. .

initiative competition and small and medium not only small but maybe big and but very competitive businesses presidential commission thank you russian presidential commission of aristide's of speaking to me there on the fringes of this week's russian british business forum and that's it for the show will be back on monday to investigate a factor u.k. backed alleged chemical attack on syria and to speak to brave hearted succession star brian cox patron of and the russian backed russian film week until then people such as social media will see on monday thirty four years to the day of india's bhopal disaster which killed or injured more than six hundred thousand activist group the yes men would later falsely claim the dow chemical company edge meted responsibility on the u.k. state endangered b.b.c. . the bad the people who run the economy price money the commodity that runs economy they say it's more marked the signs i mean they're just making it up as they go along it means that there is no principle that they are guided by they consider themselves artists because of the self impressionist they consider themselves

initiative competition and small and medium not only small but maybe big and but very competitive businesses presidential commission thank you russian presidential commission of aristide's of speaking to me there on the fringes of this week's russian british business forum and that's it for the show will be back on monday to investigate the fact the u.k. backed alleged chemical attack on syria this week a brave hearted successions star brian cox patron of and the russian backed. russian film week until then people such as social media will see on monday thirty four years to the day of india's bhopal disaster which killed or injured more than six hundred thousand hacktivist group the yes men would later false be claimed the dow chemical company admitted responsibility on the u.k. statement dated b.b.c. . new chick with tony you know. i'm one of them but i think you might. get a one news real body. a little more of that i think or take it from me as i knew she needed that community yeah i am close to whom he could feel that he had a chicken does the main room a few need to move a little the one that i don't come befo

initiative competition and small and medium nothing small but maybe big but very competitive businesses presidential commission thank you russian presidential commission of aristide's off speaking to me there on the fringes of this week's russian british business forum and that's it for the show will be back on monday to investigate the fact the u.k. backed alleged chemical attack on syria this week the brave hearted successions star run caulks patron about the russian backed russian film week until then people judged by social media will see only thirty four years to the day of india's bhopal disaster which killed or injured more than six hundred thousand activist group yes men would later false be claimed the dow chemical company had responsibility on the u.k. state mandated b.b.c. . survival guide just a single malt and a start simply adding all these are. you sure you don't get it. back to. repatriations or get the rest in seven years. philip a separate kaiser report. us veterans who come back from war often tell the same stories. were going after the people who were killing civilians they were not interes

telecom companies to share encrypted messages with the government now the australian competition and consumer commission the nation's top and i trust and consumer protection agency authority is calling for creation of a new special entity to regulate the technology sectors biggest companies namely google and facebook. and continuing with our coverage of brecht's it for more we go to london where r t correspondent has been covering the story as a thanks for being with us we sure appreciate it it seems like sort of a hot mess over there what are people saying. yes absolutely we were expecting choose the evening for this vote to be held in the house of commons in parliament to either approve or reject the deal the reason may have negotiated with the european union we then find out this morning monday morning that actually to reason may be decided to change her mind and to lay the holding of that vote until when we don't know and that's caused outrage all across the political spectrum really because it was likely that she was going to lose the votes a number of politicians within her own policy rejecting it

we tried to do it in both competitions but the dobie commission that leak. it. well done film and still be bragging rights unstable southwest got back and still following in seconds fine and now you say well frank thirteen like c.h.f. eased off the gas pedal. in a photograph of a table shocker for both trading places father wise nothing changes last week not much left to talk about all of them this moment that meant so much to davi hero jason sanchez. so gobby i'm from england and i know what obviously we're about six through. this job so. this is it's. going to. hold me there for my family. side being my my grandmother passed away so that goes for her i'm glad to have it go and hope it seemed to get from point. the be. the best. the book. the book the. good. the book. the book. the book. the book. the be. the book the becomes. the be. the big. move more. movies the big jump aboard mining companies face come up with the team its mission movie submit artificial intelligence is playing a role in hiring the sieges. to change for the better the ball just plain frank

this spring the commission announced it would hold hearings titled competition and consumer protection in the 21st century with the goal of exploring whether evolving business practices and emerging technologies might necessitate ranges to the ftc priorities. so far the commission has held seven hearings on topics which included big data and artificial intelligence with data security and privacy hearings to be held in the next month. i would like to hear from the commissioners about the response they've gotten to the hearings, what they've learned so far and what if any policy guidance might result.i'm also interested in what the commission can share on its investigation into equifax and facebook. in september 2017 the ftc announced it would open an investigation into the data breach that affected the information of 140million americans. the breach went unnoticed by equifax for more than 70 days and once the company realized the breach, the company waited six weeks to report it. the reach could consumers at high risk of identity theft. last march , the f tc confirmed it was investigati

said, if you give us 10 specific ideas about how to approve american competitiveness, congress will do it. they formed a commission and did a report. they gave us 20 specific proposals in priority order. congress did 15 of them. called created an agency martha e. that was a very specific idea. i'm hoping that someone at brookings will say, i hear you. if you want to do something to make the health care system more of a true market, here are five specific things you can do. carl olson introducing you on his podcast said, the republican effort to overturn the affordable care act is in in the insurance program itself is in serious trouble, leaving mr. alexander to pick up the pieces. no pressure. whatst health insurance -- he's talking about is the individual market. most people have health insurance. 60% of us have it on the job. we don't give many complaints about that. most of the rest are medicare, medicaid. have individual market. half of those have subsidies. there talking about 3% of people. we had a plan to fix that. it was goodmer said enough for every single democrat to vote for. we can pass it anytime the

david: i mean, competition decisions, antitrust decisions, as they call them in the u.s., are managed by the european commission in a quasijudicial manner, so any of the cases which are being taken are not going to be discussed, i imagine, by the google chief executive tomorrow in front of the senate. these are specific cases taken on the basis of specific information that leads of the commission to have concerns about the behavior of google on specific issues. and they are pursued on their own merits. so i do not think that there is a direct connection between those cases and the testimony which we will listen to tomorrow. emily: on the digital tax, even if it is water down, are you concerned this could lead to retaliation from some u.s. based companies? david: no, i think that -- we clearly, everyone agrees there is an issue here about how to tax the digital space, where you have a disconnect between the fiscal location of the companies and their economic activity.

is ten specific ideas in priority order about how to improve american competitiveness, congress will do it. they formed a commission and ron augustine headed it and they gave us 20 specific proposals in priority order and congress did 14 or 15 of them in the american competes akts. one for example is we created agency in the department of energy called arpa-e after darpa which is in the defense department. that is a very specific idea. so what i'm hoping is that someone at aei or brooking or someone here today will say i hear you. if you want to do something to make the health care system more of a true market, here are five specific things you can do in priority order. >> carl holston introducing you on his new york times podcast said the republican effort to overturn the affordable care act is in shambles an the insurance program is in serious trouble leaving mr. alexander to try to pick up the pieces. no pressure. >> well, the truth is most health insurance -- what he's talking about is the individual market. most people have health insurance, 60% of us have it on the job. we don't hear many complaints about tha

if the commission increases beyond the competitive level,

i am looking forward to hearing more about how the sessions will inform the commission competition work. i am also here to discuss possible legislation with the commissioners as well. currently the committee in several key members are exploring privacy legislation and i'm sure that you know and it will be helpful to know from the commissioners if you all support this effort and if you think the ftc is an appropriate enforcement agency and what kind of tools will be needed to ensure compliance. let me start with you mister simon and in the past, the commission has used its authority to study particular industries or practices. for example in 2014, the commission completed a study of the data broker industry and issued a report of his findings along with recommendations. with the commission consider using their authority to study dataflow specifically sending information to people in the tech industry to find out what information they collect from consumers and how that information is used and shared? >> it is a really powerful tool and that is the top of thing that might very well make s

brought up 2018 through the defense strategy with a great power competition with china and russia the highest priority and the commission report evaluated in the report that america's military superiority the backbone had eroded to a dangerous degree. what are the specific areas that you have with military advantage where russia and china do not? . >> i have to leave the podium because i have a sheet where they are superior in the nuclear areas. i want to answer you right. let me get it. shipbuilding. i mentioned already so they are definitely ahead of us in that area. hypersonic site am inclined to think if you have asked me six months ago i would not have given the same answer but what they are doing and hypersonic's. it is the illusion like another period of time and it has a huge impact around the world i am inclined to think they are actually ahead of us and electronic warfare. yes we watched what russia did with the ukraine. they are competitive and ahead of us they are. the triad. i did not take the time to give the detail as which leg of the triad but they are in all three legs right now. they weren't until rese

today the commission has before the right dressed rate action to enable clean power s.f. to offer competitively priced product to customers enrolled and being enrolled next year. this is the final action the commission will take on this but staff will report back on the results of the action in january after the action today, they will prepare and submit it to the clerk of the board for the 30 day holding period and in february, we will commence the noticing -- noticing process for customers being enrolled in april and then finally, all residential customers will be enrolled in the program during the month of april. that concludes our presentation. i'm happy to answer any questions you may have. >> commissioners class. >> i would like to repeat that i think the communication strategy is critical as we lead up to this next enrolment phase, and that we need to be transparent to, but we also need to reassure that we are observing these costs because we believe so strongly in this program and in the environments that we want to do whatever it takes to see success here. whatever form that takes, i w

as the commission notes, maintaining or reestablishing america's competitive edge is not simply a matter of generating more resources and capabilities, it is a matter of using those resources and capabilities creatively and focusing them on the right things. the commission makes a series of recommendations. i hope our witnesses will discuss them with us this morning. in addition, one of the main lines of effort of the nds is building a more lethal force. that possesses decisive advantages for any likely conflict, while remaining proficient across the entire's -- the entire spectrum of conflict. the commission also prioritizes the readiness of our armed forces and recommends a series of actions to rebuild and sustain readiness. i am pleased with this focus. since the readiness of our armed forces is a paramount issue for this committee. another critical finding is the need for strong international alliances, and the importance of a whole-of-government approach. the national defense strategy puts a premium on bolstering alliances, while pursuing new partners. however, i am concerned that t

it's a great power competition with china and russia with the highest defense priority. and the commission report that you evaluated the new strategy said in the report that america's military superiority, the backbone of the global influence in national security have eroded to a dangerous degree. so what are the specific areas that you have with the military advantages over where russia and china have been enrolled? >> i think i would have to go up there to the podium and get it. there are seven major areas we talk about. here, let me go get it. i want to answer you right here. you know, -- okay. i would say areas such as shipbuilding and maintenance. i mentioned i spent monday in norfolk. we don't have the capacity. they are ahead of us in that area. i don't think anyone questions that. hypersonics. i'm inclined to think, and if this question were asked of me six months ago, i probably wouldn't give you the same answer. again, this is an evolution that gets us into another period of time and it can have a huge impact, for example. i'm inclined to think they're ahead of us in that electro

the european commission says it has started to implement its preparations for a no—deal brexit. the competitionse off for sticking with the same service providers. in the business news... uk inflation has fallen to its lowest rate since early 2017, according to the latest official figures. the office for national statistics says that slowing price rises could bring some relief to consumers who have recently cut down on spending. average prices rose by 2.3% over the year, the lowest since march 2017. banking giant santander has been fined nearly £33 million by the financial conduct authority for failing to process the accounts and investments of deceased customers. the uk arm of the spanish bank did not transfer £183 million to beneficiaries when it should have done. it says the failures affected over 40,000 customers. but we start with a deal announced earlier today. the drugs giants glaxosmithkline and pfizer are to join their health care divisions to create a business with combined sales of £10 billion. gsk will have a 68% stake and pfizer 32%. glaxosmithkline's chief executive emma walmsley w

you bring up the 2018 national defense strategy for great power competition with china and russia is the highest defense and the commission report that evaluated the strategy said that america's military superiority to the backbone of the global influence and national security have eroded to a dangerous degree. so, what are the specific areas you have with the military advantage over what russia and china have? >> i would have to go to the podium i have a sheet on the areas were china and russia are superior to us , there are seven major areas. areas such as shipbuilding, i mention that in nor folk so we don't have the capacity they are ahead of us in the area. hyper sonic. i'm inclined to think and the question that we asked but, now that we are seeing what we have , this is an evolution that gets us into another period of time with a huge impact on the groundwork and i'm inclined to think they are ahead of us in that electronic warfare they are competitive or ahead of us, the triad has done more in china wasn't until recently but air defense has people realizing in artillery -- this is a scary thought. >> i want to shif

competition. the next step was to ensure that lula would be put out of commission. he was far and away the most popular political fifigure in brazil, so, in order to carry off the right-wing soft coup, it is necessary to get rid of him. he was s sent to prison for 12 yrs.. virtually a lifefe sentence. solitary confinement, barred from receiving books, press, or journals, and crucially, the courts decided, not permitted to make a public statement, unlike say, a convicted murderer. so he is silenced. put away. then comes the next step, , hug, there has been a major -- in fact, i think he should be regarded as one of the most -- as probably the most important political prisoner in the world today. there had been, for years by the media oligopoly, which is quite right-wing, a demonization of his party. the workers paparty. towards the end of the campaign, there was a massive increase in the demonization and lies over social media, which is utterly scandalous. that is where most brazilians get their information. so-called. so, and it was -- i should say that -- you shoul

following this approach so just in may a european commission and gaspar abridged an agreement where it obliges gas from to provide as much gas as needed at competitive prices to europe so with this agreement reached with the european supply now cheap and secure is diversification. there is to be cation still an issue yes the office of occasionally is always an issue it's like if you are an investor you do not want to put all your money in you know on project you know even in a blue chip you must have the possibility to have a diversity or for you know the sources show us any political turmoil not to have a serious impact or you're not willing. so you know sanctions are sour sore point for us for russians. european countries are united on the question of anti russian sanctions whether they're friendly towards russia or not they're all for anti russian sections but that when it comes to the as they don't mind having a pie of gas problem does it make it a little harder to argue for sanctions when you're at the same time getting i would not agree with first of all with. saying that or europe and i don't have the same let's see started out of that. one s

only one state in the union has been able to pull of the commission and make it work so that you have reasonably competitive districts that are not gerrymandered to the advantage of one party or another. that is iowa. i'm convinced it is because they are pleasant midwesterners. they get all the bad stuff out in the caucuses so that the rest of the other three years they , can be nice, pleasant and fair. otherwise, it does not work. >> you were in a weird position before you joined bush. was the difference in those two years politically just the republican candidate? >> a lot of us that were covering that 1990 race amateurs , won the race. the states thought had in some ways -- was already pretty purple at that point and was ready for a republican to win if he had not screwed that up. >> that is exactly right. it really started earlier than george w. bush. and richards had no right winning that race on the basic demographics of where the state was at the time. as you recall, williams, before he tanked, how much was up? >> he was up double digits in september. >> he made some catastrophic errors and clawed hi

commission to set the rules for tv debates. is that the way forward? i looked at this closely. i came away pretty sceptical about it. the truth is, this is not like a competitioner and you know what the rules are. you cannot force political parties do something if they don't want to do. do you think viewers get anything out of the debates? i think viewers deserve a more extensive way of probing issues that they currently get. broadcasters have struggled to do that. they have to balance the requirements of the use with rules of impartiality. they are not under pretty clear on that. i have sympathy with both the audience and the broadcasters who are trying to find the right way of doing things for the nation at like this. president george bush senior was laid to rest on wednesday in a state ‘s middle, with most of the service being shown live on the bbc news channel. katy kay was commentating on events in washington. this is the casket of george hw bush, the 41st president of the united states. for the next hour or so, katy kay and her guests stayed quiet while the ceremony preceded. there had already been too much talking over events for this viewer. the commen

the international trade commission says an import ban would hurt america's competitive edge.at the finding that apple infringed on one of three qualcomm patents. plans for global tech domination, we will hear from the ceo of an electric vehicle startup on the trade war and the crowded chinese ev field. this is bloomberg. ♪ is 8:30 a.m. in hong kong. we are an hour away from treating there, a bleak day. asian markets looking to tentatively build on the gains from good news hot -- headlines around the trade story, china resuming purchases of u.s. soybeans for the first time since the middle of this year with the retaliatory tariffs on u.s. shipments, hearing about 1.5 million tons ordered this week. we are also hearing potentially china will push back on the tech ambitions in the china 2025 program that could help alleviate trade tensions. aross the pond we are getting sigh of relief as the u.k. prime minister theresa may survives the vote of no-confidence within her party. she is going back to the e.u. counsel to see if any improvements or sweet can be made to this deal. shery

we try to do good in both competitions but the dobie commission that leak. it. well done film and television bragging rights and stable southwest's that has still following seconds by an announcer well frank that's unlike say fifty eased off the gas pedal. in the bottom half of the table shocker for both trading places otherwise nothing changes last week not much left to talk about other than this moment that meant so much to davi hero jason sanchez. you are. so doggy i'm from england and i know what obviously about sixty to sixty. six dollars. this is a cool thing you. told me there are three for my family you see sadly my my grandmother passed away so that shows you how i am glad i'm not going to help you to get three points. memo. outlining feel. for fitness. please. please. me. they want silence in syria. and they won't be silent in exile. seven people who fly to europe from the brutal persecution in their homeland are filing criminal charges against the country's senior officials. testifying against assad seeking justice for syria. and fifteen minutes on th