Evening Briefing Europe: Google-EU, BNP, BoE, Denmark
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Google now knows what Microsoft and Intel felt like. After a seven-year probe, the European Union’s antitrust cops fined the search giant a record €2.4 billion for abusing its market position. Authorities found that Google skewed search results to favor its own shopping site. Here’s the Commission’s reasoning. — Andy Reinhardt
Battening down. The Bank of England wants British lenders to hold an additional £11.4 billion ($14.5 billion), an attempt to make sure banks have enough capital to weather losses and continue making loans to support the economy, while addressing risks such as Brexit. The move reduces the chance of an early rate hike by the central bank.
Human capital. Denmark may be ranked as the world’s best place to live, but its economy isn’t growing fast enough and there aren’t enough workers. Problem is, while the government says it wants to attract skilled immigrants, a major portion of voters disagree. Without recruiting foreigners, Denmark can’t kickstart its economy.
Medical breakthrough. Icelandic startup Kerecis has developed a pioneering technique that uses patches of cod skin to help heal chronic wounds. The treatment provides a cellular framework for skin to regenerate and was approved last year by the U.S. Food and Drug Administration.
Feeling discouraged. Almost half of Britain’s highly skilled workers from the European Union—and more than a quarter of less-skilled workers—are considering leaving in the next five years, according to a new study from Deloitte. The largest percentage would consider returning to their home country.
Climbing the ranks. France’s BNP Paribas is climbing into the top tier of European investment banks as struggling giants like Barclays and Deutsche Bank retreat. It ranked third among European firms in global markets revenue at the end of March, according to data compiled by Bloomberg.
Fitness gadgets come into their own. Bloomberg Technology journalist Aki Ito spent the last few months trying out 17 different wearable health gizmos, from the latest Fitbit to a “smart” sports bra. Here’s her first-person assessment of the latest offerings in the burgeoning field of personal electronics.
Compiled by Andy Reinhardt