Google Denied Europeans the Benefits of Competition, Vestager Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 27 June 2017
⏱️ 49 minutes
🧾️ Download transcript
Summary
Margrethe Vestager, the European commissioner for competition, says Google demoted rivals in favor of Google Shopping. Prior to that, Neal Soss, Credit Suisse's vice chairman of global fixed income, says infrastructure is the way to get GDP higher than 2 percent. David Herro, CIO of international equity at Harris Associates, says Google is a strong, virtuous business but there's concern about privacy. Finally, David Kotok, CEO of Cumberland Advisors, says Amazon's Whole Foods purchase made sense and that more "unusual" consolidations are on the way.
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| 0:36.7 | Discover opportunities in a transforming world, B of A.M.com. slash VR. Merrill Lynch, M.L.com slash VR, Merrill Lynch, Pierce, Fenner, and Smith, Incorporated. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with David Gura. Daily we bring you insight from the best of economics. |
| 1:05.0 | Finance investment and international relations. |
| 1:08.0 | Find Bloomberg surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course on the Bloomberg. |
| 1:19.4 | Dr. Neil Sauce, the vice chairman of Global Fixed Income and Economics Research at Credit Swiss |
| 1:24.3 | who joins us now in our Bloomberg 1130 studios. |
| 1:27.2 | Let's start if we could Dr. Sauce with this news out of London this morning, if I could, |
| 1:32.0 | Dr. Sauce, looking at what they're doing with their capital buffers here. |
| 1:35.2 | What does this say about the Brexit process and the BOU's attitude toward what's happening with Brexit? |
| 1:40.1 | Well I think they would have been doing this either way. |
| 1:43.0 | I think it's a pretty sensible substitute for having volatile interest rates. |
| 1:48.0 | Instead, that is cyclically volatile interest rates, instead you have a cyclically varying capital requirement |
| 1:56.4 | so that when banks are tempted to make the bad loans in good times you hold them back. |
| 2:01.6 | Conversely when bad times arrive and everybody gets more nervous |
| 2:04.8 | than is socially useful, you relax those standards a bit. Brexit's a more, what shall I say, slow moving, ongoing process. |
| 2:15.3 | It's not cyclical per se. |
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