after a seven—year investigation into google's business practices, commissioner margrethe vestager delivereds abused its market dominance as a search engine by giving illegal advantages to another google product, its shopping comparison service. if you search google for something that you want to buy — say, for instance, my new cricket bat — several ads appear here at the top of the screen. these are clearly marked ‘sponsored' and are part of a service called google shopping. each time i click on one of the ads, the american tech giant earns some money. but today, the european commission ruled that this prime real estate gives google an unfair advantage. kelkoo is one of the companies that brought the case. it says google needs to be reined in. it said, right, i'm going to take over this marketplace and i'm going to demote you all and put myself at the top of the listings. anti—competitive. they can't do that when they have a 90% share in general search. they use that power, and that's wrong. google said it respectfully disagreed with the decision and would take the 90 days granted by the co

joining us now, the woman behind the decision, european commissioner for competition, margrethe vestagerack, commissioner. >> it's a pleasure to be with you. thank you very much for having me. >> okay. a little bit of a delay there. first, talk us through how you got to that $2.7 billion fine. a little bit higher than most people were expecting. >> well, the fine is a reflection of the abuse and how long the abuses have taken place and, of course, the importance of the different actors in this market and we find that this abuse has been taking place since 2008, but also that it has taken place in every european country where google shopping has been rolled out. that, of course, is a very serious matter and that's reflected in the level of the fine. >> as you know, google has already responded this morning they say when you shop online, you want to find the products you're looking for quickly and easily when advertisers want to promote those same products, that's why google shows shopping ads connecting our users with thousands of advertisers, large and small. we believe the european comm

competition omission or margrethe vestager -- competition commissioner margrethe vestager.rnor of the bank of england delivering his financial stability report. a lot of headlines came out of that, but i am looking forward to the q&a session he will have with reporters there. the pound has dived against the euro. now let's get to the governor here in london. ey: we see risk-taking and the economy moving to a more normal environment, despite obvious uncertainties. and we want to move the level of capital buffers for the banks back up to the level they should so that is the countercyclical adjustment. any time you move to more benign credit environments, there has been more defaults. and we all know that this process exiting the european union has begun, and there are risks around that process. so contingency planning needs to be not just put in place but, in some cases, activated. that is all there for a reason. orthat their same consumer business person knows that this system will be there for them down the road. orthey have a good idea opportunity to move into a property d

after a seven—year investigation into google's business practices, commissioner margrethe vestager deliveredts market dominance as a search engine by giving illegal advantages to another google product, its shopping comparison service. if you search google for something that you want to buy — say, for instance, my new cricket bat — several ads appear here at the top of the screen. these are clearly marked ‘sponsored' and are part of a service called google shopping. each time i click on one of the ads, the american tech giant earns some money. but today, the european commission ruled that this prime real estate gives google an unfair advantage. kelkoo is one of the companies that brought the case. it says google needs to be reined in. it said, right, i'm going to take over this marketplace and i'm going to demote you all and put myself at the top of the listings. anti—competitive. they can't do that when they have a 90% share in general search. they use that power, and that's wrong. google said it respectfully disagreed with the decision and would take the 90 days granted by the commission t

after a seven—year investigation into google's business practices, commissioner margrethe vestager delivered its market dominance as a search engine by giving illegal advantages to another google product, its shopping comparison service. if you search google for something that you want to buy — say, for instance, my new cricket bat — several ads appear here at the top of the screen. these are clearly marked ‘sponsored' and are part of a service called google shopping. each time i click on one of the ads, the american tech giant earns some money. but today, the european commission ruled that this prime real estate gives google an unfair advantage. kelkoo is one of the companies that brought the case. it says google needs to be reined in. it said, right, i'm going to take over this marketplace and i'm going to demote you all and put myself at the top of the listings. anti—competitive. they can't do that when they have a 90% share in general search. they use that power, and that's wrong. google said it respectfully disagreed with the decision and would take the 90 days granted by the commission

conversation is the european commissioner for competition, margrethe vestager. , the framework for this fine. evidence that competition did suffer or have you found a situation where it may suffer? margrethe: yes, we have found that competition has suffered. between what we have seen and now proven is that by 2008, google changed its strategy to significantly give it better treatments to its own shopping comparison and to demote its rivals. on average, you only find them on page four when you do a search. jonathan: where's the evidence the competition suffered? if you are i look, the competition seems to be doing pretty well. you look at amazon, they are doing well, ebay likewise, where's the evidence? actually, the comparison between google shopping and amazon and ebay, that comparison is wrong because we have found that amazon and are merchant these platforms, and that is something different from the google -- that ismparison one. second, what we have found and started intensively with 5.12 terabytes of data is that there is a close relationship between , so wh