11/9/2018, 12:24 PM (Source: TeleTrader)
more TeleTrader news

Vestager: Priority for tech titans is to serve customer

Margrethe Vestager, European Commissioner responsible for competition, rejected the notion that the European Union is particularly focused on reining in the expansion of the biggest technology companies from the United States. In an interview published on Friday by the Wall Street Journal, she said the regulatory body "never looks at the nationality" and warned corporations must be careful about their conduct and "serve the consumer" as a priority.

The official acknowledged "the huge majority" respects the rules and stressed authorities in different markets have been showing a trend of the introduction of more similar solutions for the sector. Asked about the position of companies such as Google, Apple and Facebook, Vestager said the framework may be mended to secure more transparency.

Turning to fines for data breaches, she said they need to be "big" and include "reputational damage" as a tool of deterrence. The European commissioner revealed investigative technology is being developed in order to boost the effectiveness in investigations.

Breaking the News / IT