Why are the U.S. and EU targeting each other’s giants?
CBS News
FRANKFURT, Germany - The U.S. is looking for multibillion dollar penalties from Germany’s biggest bank and its biggest carmaker. The European Union is demanding similarly large sums from America’s most valuable tech company, Apple (AAPL). Both sides of the Atlantic appear to have become emboldened to crack down on big companies that are found to have misbehaved. Some analysts say it’s a sign that governments, several of which have elections looming, are feeling political pressure to act against corporate wrongdoers. But the crisscrossing crackdowns have also frayed nerves, especially in Germany, and led to dark talk about a tit-for-tat war in which the U.S. and EU target each other’s companies ...
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