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Recent Editions
Risk Channel
North America
European Union regulators have hit Google with a €890m ($1bn) fine for violating the bloc’s Digital Markets Act. The European Commission said that the Alphabet-owned platform had unfairly favored its own search services and prevented app developers from steering consumers to offers outside its Play Store. The company was fined €460m for the alleged search abuses and €430m for the Play Store breaches. “Google has fallen short of effective compliance with the Digital Markets Act, and today we have taken decisive yet balanced enforcement action sanctioning these breaches,” EU competition chief Teresa Ribera said. “The best products should succeed because they’re better, not because they’re owned by the company running the search engine.”
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Risk Channel
UK/Europe
Reuters reports that Hungarian Prime Minister Peter Magyar and his Polish counterpart Donald Tusk - who have both been besmirched by nationalist rivals as soft on immigration - are opting for curbs on foreign labour. Tusk's government cut work permits for non-EU citizens by 22% last year, while Hungary's new government recently ceased issuing worker visas to employees from the Philippines, Georgia and Armenia. Economists and business groups warn such moves may hurt the two countries' growth prospects. "Fewer workers mean slower growth and less tax coming in, while an older population costs more in pensions and health," said Marcin Tomaszewski, lead economist for the EU region at the European Bank for Reconstruction and Development (EBRD). "Both [countries] are ageing before they are rich, and both only recently became places people move to rather than leave," he said. Public opinion polls show broad support for migration curbs.
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