the gdpr. ways is inome digital innovation. a lot of stuff going on there, but overall, most european analysts would agree with that. on the other hand, they are trying to be a leader in digital regulation. goodd we view them as a orel for our legislation should we go in a different direction? >> yeah, sure. you are right. --hink it is fair to say sorry. i think it is very fair to say that on a relative basis, the u.s. has been sort of the center of the internet innovation -- >> feel free, if you have any comments about what other panelists have said, feel free to address them directly. >> absolutely, i will. lagged theope has u.s. as far as internet innovation broadly over the last couple of decades. and, there is always this trade-off between intentions and results, right? broadly -- iwas emphasize the innovation side of the equation in my original comment but let me say i think ofthe u.s., despite a lot amazing things the internet has brought us and a lot of innovation, i think a lot of u.s. companies and the u.s. government

host: what is your general view of gdpr? commissioner slaughter: we are in an interesting time to see how it plays out in practice. the origins were a real sense from european citizenry and their politicians that the status quo is not working to adequately protects people's data, and therefore their autonomy. gdpr is their attempt to fill that gap. we are learning a lot of lessons about how it works. it is a great example of how rhetoric about the sky falling in advance of regulation passing does not always play out in practice. you hear, you cannot possibly pass this law, it will ruin all business or internet traffic. the difference between the day before gdpr went into effect and the day after was more -- companies continued to operate. can also take seriously and should look closely at the lessons from the particular provisions of gdpr and how they work and whether there are any consequences.it is a great opportunity for us to say, this works well, this doesn't work well. that is something i am watching closely. it is too

. consistent globally when it comes to this issue -- gdpr. level that it prevents innovations happening quite quickly, but another level it means across the whole european union everything is consistent and a level playing field. from a technology point of view, it adds an understanding of the relationship and in security terms and strategic terms between europe and china, it is much clearer than the relationship with the us. it took about tech and security and inventor —— innovation. the cheap in a executive of microsoft saying, depending microsoft army contract for augmented reality —— the chief executive. 4000 employees has signed a petition protesting against an arrangement. what is going on here? this is a stencil integrity and honesty and a generation of ideals coming through and thinking you can do anything with tech and it is about communicating with people and it has a socialist and economic persons against the reality of the world which is actually that technology and security and military purposes are interwoven, it links back to t

the amount isn‘t really very much for google, but gdpr canfind really very much for google, but gdprliance. investors will want to hear from alphabet about how they are addressing this ongoing issue. also on monday, the congress department is expected to report a rise of 0.2% in factory goods for the month of november. a busy week again. joining us is randeep somel, the director of global equities at the fund manager m&g. nice to see you again. last week was extremely busy. we had the said decision, trade talks in washington, so many big companies reporting earnings. —— the fed decision. this week will be a bit quieter and the big one will be google‘s parent company, alphabet. we have seen amazon disappoint and facebook be positive so far. everyone will now be looking at google, in the middle of the pack when it comes to ratings. and that update from ryanair, making a loss of 22 million. for most businesses that would be catastrophic but ryanair says it is fine, just one quarter. it is not unexpected that it has been heavily flagged and this is the wea kest been heavily flagged and t

, but should have been a gdpr issue.st: you can handle it under both offices, probably -- both oust is is -- both auspices, probably. in germany, jurisprudence says is a dominant company -- and we believe facebook is dominant, with more than 30 million monthly active users -- is setting up illegal general terms and conditions, that this is also a competition issue because the company is only able to do so because it is dominant. ourf facebook sets up, from point of view, terms and conditions with regard to gdpr,y that infringe the that can also be a competition issue. this is the way we argue, and isaac we have a good case here. vonnie: will you also go after alphabet? 80% of all page loads, while just every fourth website visited is tracked by facebook. guest: it is very hard to announce anything. for today we are very happy that filing concluded our against facebook. what we have done today is quite a fundamental decision. if we have similar companies with similar problems, of course one could look at the facebook judg

it is the european union's general data protection regulation for gdpr.pring and already having an effect. take a look. >> digital consumers here have help protecting their online privacy. gdpr ensures customers can delete any data stored by firms like google or facebook. make sure privacy rules are spelled out in clear language. if there's a data breach, firms have to come clean in three days. if they slip up, they could be fined billions. >> people need to feel empowered and have digital trust and confidence. the new rules get to do that. >> last week, french authorities say google is not transparent enough and hit it with $50 million in penalties. critics worry about overregulation which has been a free and open source of communication. some say the laws are more complicated and protectionism from europe. >> we can't just copy and paste gdpr and think this will work for the u.s. the u.s. has to find its own way. >> the new digital laws need consumers to get involved and take responsibility. some here worried about privacy, some willing to do it. >> i t

we have seen it through gdpr happening in europe and to us the big surprise is six months into it.mpact on user growth or user engagement, which goes to tell you that users don't mind necessarily what's going on but they're counting on regulators to keep everybody clean, and the advertisers continue to vote with their dollars, and based on facebook q4 results, revenues are up 30%, profits up significantly they continue to outperform expectations. >> henry, fake news was a topic of conversation in that sit down yesterday, disinformation on the web is reportedly on the agenda for the meeting with the british official today it is a facebook issue it's also an industry issue, look at pinterest, barring vaccination searches and looking at polluted content in the last couple of days, you run a media company. how do you regulate that and how do you do it without it becoming a slippery slope and censorship issue? >> good question one that facebook has been trying for years to not have anything to do with. they wanted to be the phone company, we build the platform, you do what you want with

facebook is rolling out tools that are gdpr connected beyond europe so whatever the u.s.will be going further than europe has gone. in a way, haven't some issues been mitigated, even though investors think there's overhang >> i think gdpr set the tone for what we see in the u.s. and elsewhere. areas where there isn't regulation i think they're ahead of some smaller companies. maybe smaller publishers where they have to spend incremental dollar to be sure the platforms are up to speed with regulations. i think facebook, alphabet, big guys will be the ultimate winners as regulation increases. the burden to be compliant is that much higher. >> one geeky question about the dollar, to what degree is that a liability if this continues? this increase in the dxy since the fed meeting especially you look a little -- >> i just don't think there's a lot of cross border trading happening at amazon. there's currency translation risk investors look through that. same with facebook and google on the add side i don't necessarily see it being top of mind risk. >> it doesn't impact margins

could europe's new data rules, known as gdpr, be extended, to give citizens greater control and ownershipolicy makers, for instance, think tech companies should pay us for our data. finally, free speech and libel laws. this is about the limits of liberalism. what is it permissible to publish online, and who should be responsible? in germany, they've modified existing hate—speech laws to fine tech companies for leaving harmful content online too long. any new regulation will need to be international, and armies of lobbyists are being paid to resist it. but the world has changed — today's public square is digital, and it is now a question of when and not if new rules are created to govern it. amol rajan there. if you're distressed about any of the issues raised in molly's story and would like details of organisations which offer advice and support, go online to bbc.co.uk/actionline, or you can call for free at any time to hear recorded information on 0800 066 066. president trump finally delivered his annual state of the union address last night after being delayed for a month because of th

could europe's new data rules, known as gdpr, be extended, to give citizens greater control and ownershipicy makers, for instance, think tech companies should pay us for our data. finally, free speech and libel laws. this is about the limits of liberalism. what is it permissible to publish online, and who should be responsible? in germany, they've modified existing hate—speech laws to fine tech companies for leaving harmful content online too long. any new regulation will be need to be international, and armies of lobbyists are being paid to resist it. but the world has changed — today's public square is digital, we've been joined from new york by sally hubbard, an expert on tech platforms and antitrust law. what do you make of this suggestion that some of these big media firms should be looked at more closely and stopped from growing any bigger?|j definitely stopped from growing any bigger?” definitely think they need to be looked at more closely and stopped from getting any bigger. every acquisition should be looked at, even small acquisitions. especially facebook. what would the argume

could europe s new data rules, known as gdpr, be extended, to give citizens greater control and ownershipsome policymakers, for instance, think tech companies should pay us for our data. finally, free speech and libel laws. this is about the limits of liberalism. what is it permissible to publish online ? and who should be responsible? in germany, they ve modified existing hate speech laws to fine tech companies for leaving harmful content online too long. any new regulation will be need to be international, and armies of lobbyists are being paid to resist it. but the world has changed. today s public square is digital, and it is now a question of when, not if, new rules are created to govern it. thank you, amol. if you're distressed about any of the issues raised in molly‘s story and would like details of organisations which offer advice and support, go online to bbc.co.uk/actionline or you can call for free at any time to hear recorded information on 0800 066 066. president trump was finally able to deliver his annual state of the union address last night after it was delayed because of

and they have been inspired by what we have seen in europe by the gdpr.id: up next, president trump he will consider the deal to avoid another shutdown, but says he is not happy about it. we will talk about that next. this is bloomberg. ♪ >> and drug dealers and drugs into our country. it is very simple. it is very simple. we are building a wall. i am saying we are finishing a wall. we just finished a big section on the rio grande. you probably saw it. you did not believe it. you saw trucks all over the place. he is not getting paid i never kid about -- not kidding. kid about construction. we are doing a beautiful structure that is less expensive to build and works better. it is crazy what they were putting up. the walls they were so wallsactive and ugly that got a bad name. it is all tin canned. they are wavey. steel?n't you paint the sir, we save money. it's going to rust. i've never seen steel come to me that's unpainted. this can only happen at the border. this wasn't me. this was our past geniuses. am i happy? no. i'm not. i'm not happy. am i happy w

it impacts fundamentals, we have two and a half full quarters of facebook and google results since gdprggest privacy regulation we'll see for the next several years didn't seem to have any material impact i think fundamentals intact, the order of stacks we like, we like facebook first, think there's a rerating story continue to like google, though there are issues with operating spen expenses and netflix is third amongst faangs >> if i recall, top large cap picks were facebook which is up 28% year to date, netflix up 31, google and booking given what you've seen, are things playing out as expected >> things haven't changed much for the stocks it has been a rerating issue look, the stocks sold off and sold off aggressively. facebook happened to sell off for not just one month but for six months we continue to like that name. we actually did see most material upwards estimates revisions with netflix this is an accelerating growth story. it remains that. this is like the seventh year in a row in which the number of new paid subscribers they add is higher than it is in the prior year you're

a multimillion dollar fine to google months after what's called the gdpr went into effect europe certainlyt here in the united states, interest in appetite as well remember, facebook under investigation from the federal trade commission and as i reported in recent weeks, the fine there could be a multibillion dollar fine, a record setting fine. it's too soon to count out the u.s. but europe definitely a place to watch. >> kevin, what would you say is the greatest vulnerability and what happens if it's on the news side and they're forced to behave more like a real news operation? >> yeah, i think one of the interesting points that is made in this report is that facebook should take more responsibility, should be legally responsible for illegal and harmful speech on its platform and facebook like other technology platforms argued for years and had some protections in u.s. law that the things that people post on facebook are actually not -- they're lot liable for them and what we have seen is facebook's negligence in some areas has been pretty costly for example, the clearest example is in my

expenses, contact cost, youtube, what it costs to drive traffic through them i don't think they're beyond gdpr yet >> mark, quick take on alphabet. >> love it long term there's one number that that they obviously can't publish and that comes from the advertisers and that is cost per qualified lead from the advertisers perspective and i think that cost is lowest with google because they do have the best digital advertising platform we'll have much more on alphabet earnings throughout the hour plus volatile after hours. stocks have been breaking out but is a boom about to go bust plus it is the $245 billion question what should apple buy with all that cash? the traders will play matchmaker and after a strong start to the year, a ral ne oly in one groupf stocks is about to stop dead in its tracks we're live from times uasqre in new york city. much more "fast money" right after this your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. yeah, i thought doing so

plagued the company over the last year this includes data privacy scandals, growing regulations such as gdpreurope and then just the proliferation of fake news and propaganda on its services >> so, sal, this goes back to the four priorities zuckerberg announced for 2019 the first one is to continue making progress on the major social issues facing the internet and our company so he's deploying employees and monetizing them for working on this now this -- the headlines make it sound like social issues are political or something this is more about fixing the internet and fixing facebook, right? >> yeah, i mean, basically when they told me about this news, the way they put it is it's no longer about prioritizing user growth but focusing on change and solving those issues plaguing the company over the last year. i also had a chance to talk with some former employees and get their thoughts on this change. they are skeptical they think some work remains but they do think this is a step in the right direction. >> sal, you joined us a little while ago talking about the kul cult-like workplace of fac

however, i think that's getting to be an old story now we've seen some -- we saw the eu gdpr.mething in the uk yes. could we see something here? we could that will be hard for congress to get together and do some legislation there but it could happen it absolutely could happen of the all of that, though, i think is priced in already if we knew with certainty how much they would have to pay or what regulation would cost, let's say fines instead of regulation, then i think the stock would lift a lot i think it's priced in and i think them being the poster child for bad behavior is starting to fade as a story. that's been weighing on the stock. >> are you comfortable, karen, with your sense of understanding what the costs are going to be for these guys to continue to basically make their platforms safe >> no, but i think the market is giving them an excessive penalty of what the costs could be i think it would be less i i think the stock would be much higher we've seen their costs go up and up as they add more people that hasn't mattered to the earnings, though that hasn't matter

think about gdpr. it was the privacy legislation that was enacted in europe in may.panies. so i think people are not as concerned about that kind of regulation. >> it protects them from new competitors. once that regulatory wall goes up and google among others has said european regulation is really no deal. >> no thinks facebook and google will lose half the market share among digital advertisers. they're monopolies. it's a question of can the government destroy the monopoly pricing power and revenue stream with a few rules. >> i don't look at those at permanent monopolies. when you put in heavy regulation, you look at for example, banking, how many new upstart huge global banks do you see? not many. dagen: that's different. these companies when you look at google and facebook, they have intentionally gone out and bought up every small company. they buy these companies. the government has never said no to them. they buy them, just for the talent. they shut them down and basically they have a -- those two companies alone have a stranglehold on the computer science and

. >> right they face fines if they continue comply with europe gdpr as well basically all tech companiesrges overshah -- overshadoweding. >> tom brady ron gronkowski video went viral. ♪ ♪ most kids today will have jobs that don't exist yet. the engine management systems coordinate with autonomous vehicles. financial data, so now we can predict the future. our new flexible propeller design. by collaborating with public schools on a program called p-tech, ibm is helping students build the skills they'll need for tomorrow. revolutionizing. aerospace industry. it's an entirely sustainable approach. any questions? when you rethink education, everyone can put smart to work. maria: welcome back an hour away from opening of trading this morning futures indicating searching for direction, now all major indices lower by a fraction, this after mixed move friday dow and s&p 500 notched up 6th week in a row you of gains last week joining is investments chief investment officer, good to see you thanks for joining us. >> good to be here. >> what kind of 2019 are you expecting for the stock market. >> w