Morning Money Memo…
YouTube is the latest internet streaming service to push back against slow download speeds by cable companies and other providers of broadband. YouTube – owned by Google (GOOG) – is rating speeds and download service in different cities across the country, releasing its Video Quality Report. Consumers can see which internet providers give the best and worst speeds for streaming video. The YouTube survey follows rankings by Netflix (NFLX), which rated internet providers in different countries. Here’s the link to the YouTube survey.
Google is starting to accept requests from Europeans who want to purge unflattering information that pops up about them in online searches. The demands can be submitted on a Web page that Google has opened. It’s in response to a landmark ruling issued two weeks ago by Europe’s highest court. The decision gives Europeans the means to polish their online reputations by petitioning Google and other search engines to remove potentially damaging links to newspaper articles and other websites with embarrassing information about their past activities. In the first few days after the ruling, about 1,000 Europeans asked Google to take down links, reports The New York Times.
Shares of the French bank BNP Paribas have fallen 5 percent in Paris on reports of possible huge fines over a U.S. investigation of alleged financial wrongdoing. Federal authorities are said to be urging BNP Paribas to pay at least $10 billion to end a criminal investigation into allegations the bank avoided U.S. sanctions. The Wall Street Journal calls the probe ” a sign of increasing pressure the government is putting on large financial firms it suspects of wrongdoing.” Last year, the bank set aside $1.1 billion after becoming the subject of the investigation, but a month ago raised the possibility that the amount of fines could be “far in excess.”
Despite trading restrictions imposed by the U.S. government decades ago, the head of the U.S. chamber of commerce is on a three day trip to Cuba. Thomas Donahue called for a new relationship between both countries and changes from Washington. In Havana, Donahue praised recent reforms under which hundreds of thousands of Cubans are now working in the private sector, but says the changes must now be consolidated and expanded.
China has fined Johnson & Johnson, Nikon Corp. and five other makers of eyeglasses and contact lenses on price-fixing charges in its latest effort to use anti-monopoly law to control consumer prices. Manufacturers were fined a total of 19 million Yuan ($3.1 million) for setting minimum prices for retailers and limiting their ability to offer discounts
Richard Davies Business Correspondent ABC News Radio abcnews.com Twitter: daviesnow