Demonstrators marched again in st. Louis as protests continue over a white officers acquittal in killing a black suspect. Right police intervened late monday, using weapons and arresting more than 80 people. Prosecutors say the officer who shot and killed the man the interior secretary is recommending six of 27 National Monuments under review by the Trump Administration be reduced in size. They recommend two utah monuments be reduced. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. I am emma chandra. This is bloomberg. Emily i am emily chang and this is Bloomberg Technology. Coming up, Margrethe Vestager goes to washington. It is her job to keep big tech in check. The European Commission joins us for a wideranging interview. Slack sends a message to the competition with a funding round led by softbank. He spoke to us about a potential ipo and beefing up ammo in war for the corporate Servicing Services market. It makes one of its biggest marks to date on televisions biggest night. Why the big win is throwing hollywood into flux. European regulators are stepping up their pressure on u. S. Tech companies. The European Commissioner for competition at the helm, the e. U. Has announced massive fines against apple and google. This week, she is in the u. S. Visiting her counterparts as well as top political leaders. I want to get to David Griffin gura in washington. David, take it away. Thank you for the time this afternoon on a busy day. Let me ask you about the meetings you had today. You met with the ftc and doj. Share the substance of those conversations. What were you talking to those counterparts about today . We dont show the substance because often we have the opportunity to take stock of open cases. Since they are open, this is not something we can share with a wider audience. Given what we have read in the news about vacancies of these departments, the fact that you people in interim roles, is that a frustration or proving to be difficult as you work with counterparts across the atlantic . Is it different not having permanent appointees in place . Maybe to some degree in the beginning, i wondered, but now i have gotten to know maureen and andrew rather well. We have met a couple of times. There is such a strong culture of concrete cooperation between the teams because they share this culture of serving the consumer in the market. And therefore, it is very concrete, very direct. It is a very good cooperation. Give me some insight into that cooperation. You are doing your own investigations, working on your own cases. That is happening in the u. S. As well. What is the ideal relationship like between your office and the ftc or doj . To some degree, we have a different legal basis so it is not the same. But with the necessary waivers from businesses, we can discuss and exchange to test hypotheses about would this be a competition concern. The case team called each other. Sometimes, they come together. We have had u. S. People coming over for our hearings. We go here if something concrete is happening. It is quite intertwined. Of course, very respectful of the differences, but also very concrete on making it right and getting a high quality in the casework. A question to you as an observer of this place, you were here after the election so you have spent some time in d. C. Does the terrain look different to you . Does the rhetoric sound different coming to washington now eight months into this president s term . It is as if there is a renewed interest, more debate. I saw it already in the election campaign. I think there is more debate about how to make sure consumers are well served, how to make sure you have vibrant competition because competition is a driver not only for low prices and choice, but also for innovation to be able to in the future be able to produce affordable prices and choice. A lot is going on here. I find that very inspiring. A couple of days ago, some senators proposed a new mechanism for enforcement. Amy klobuchar among them. The point she was making as i understand it is that the rules and policies are outdated, we need to refresh them. Taking a Broad Perspective on that, when you look at enforcement policy, does it need to be updated . Do you feel policy has not kept step with where things are when it comes to technology . For obvious reasons, i have been looking at the european situation. We have been asking ourselves this in question because markets are developing fast. Things are changing. I find our basic rules are fine because some of the motives are the same. It is greed. It is fear, combined with power that can be a strong , and that can be a strong combination. We can deal with that. Our challenge is to keep our tools sharp and develop new tools because we have to be as skilled when it comes to going through massive amounts of data as anyone else. That, of course, is a challenge, but we accept it to develop with the pace of the Market Participants. We talked about cooperation. How problematic is it if you are not on the same page . Halliburton, baker hughes, for instance. In different camps, it seems like. What problems does that pose when you and the u. S. Are not on the same page . It remains to be seen because we are not done yet. It happens quite rarely. When it happens, i think very often there are very concrete reasons the market situation is not the same. The Market Participants play different roles. Very often i find you have objective reasons when we divide in how we look at a case. How do you assess the efficacy of what you are doing . I think we first spoke after you levied a tax on apple of 13 billion euros. Have you started to see changes as a result of that . Has it had an effect on the Way Companies work from a policy perspective . The way they pay their taxes or dont pay their taxes. Yes, i think that change is coming. It is slow because it takes some time. I think it will be faster when our courts have dealt with the cases. You also see Member States change their legislation. In luxembourg and cyprus, in ireland on legislation allowing for what we call the double irish, which is being held phase phased out. The legislature in the European Union has changed. There is much more vigor. Member states are much more ready to say we want a level Playing Field and we want our tax authorities to Work Together to get it right because we see so many businesses that pay their taxes as one would expect. That should not just be for the many. It should be for everyone. There was news today of Northrop Grumman want to buy atk, and you are seeing a lot of consolidation of very Big Companies reducing the size of the Playing Field in a number of sectors. Is that inherently a problematic thing . Does it raise concerns to see Big Companies merging, acquiring, and the field of players becoming smaller . It always depends because sometimes we see it may be possible for a merger to enable lower prices to consumers. Efficiencies can be passed on to consumers. We never have an opinion beforehand. We go into the analysis with an open mind to make sure postmerger consumers will be well served. Give us some insight into how you decide which cases to take up, what the process is like that leads to the opening of a case. Mergers they just knock on our door. Those we do head on. In the antitrust cases, we would start looking into under the radar to see if there is something here. Then we may do unannounced inspections to see if there is evidence to support our hypothesis. And then eventually, if we find we have a strong case. It is for any company troublesome to be in the searchlight of an antitrust investigation so we are very careful to make sure we find we have a strong case. That does not mean we have anything but a preliminary look at a case when we start it. Of course, it has to be something serious. Otherwise, we should not do it. There is a perception that you are targeting American Companies. I look back at the google fine of recent weeks, 2 billion euros. It seems to give grist to those who think you are going after American Companies. I imagine a lot of what you are doing here is explaining yourself in the process and what companies you are looking at. What do you say to somebody who feels as though you are in unfairly seeking out American Companies for action . First of all, i take this very seriously. Bias has no home in european antitrust. It would be delegitimizing what we are doing. The point is you have a Single Market that is open for business, but it is not open for bending rules. We also do have statistics on our side. When you look at mergers or antitrust enforcement, you do not find any kind of u. S. Bias. That of course is very important because it is not the flag or ownership of the company. It is the behavior in the markets we are concerned about. Lets come back and talk a bit about google. We have more with the commissioner coming up on Bloomberg Technology. This is bloomberg. Emily welcome back to Bloomberg Technology. Im emily chang. Lets get back to washington with david gura standing by with the European Commissioner for competition. David, take it away. David thank you very much. Again, lets get into google. I think a lot of people are eager to hear about that issue in particular. Google has 10 days to comply with the ruling you issued a few weeks back. What are you hoping to see by then . Have you seen a draft at this point . Do you have any sense of what google will try to do . Yes. Soon to be 90 days ago, we took the decision we found google is dominant in the European Market of general search, and that google has been misusing this strong and dominant position to promote itself with the google shopping product and to demote competitors. On average, you would find competitors on page four in your search results. Viewers can ask themselves, well, how often do i go there . Youre always finding google shopping in the top left corner in the best placement. The decision says you have to apply a principle of equal treatment between google shopping and competitors because you are dominant. Now it is up to google to figure out how to do this because this is the only way to make a remedy futureproof. Everything will change. But we still need these to be adhered to. It remains to be seen how google will live up to this. David bloomberg is reporting today google is proposing an auction system. It would sell space to rival companies. That was proposed in 2013 with another issue. Can you confirm that is the case and they have floated that as an idea . Yes, we got a first draft of what they were thinking about two weeks ago, so we got a broad outline about what they are thinking. It is not for us to approve. It is for google to find a way to live up to the decision. This is very important because if google does not live up to the decision, we will start investigating. Well, what is the situation . Is competition still harmed . So consumers have less choice. David if you are not satisfied, when does finding start . When do you begin to calculate fines against google if they had not met the burden you would like them to meet . We can backdate the fine so will start from the first day we find there has been noncompliance with the decision. Obviously, if we find market competitors that complain, consumers complain to say this is not what it was supposed to be, if we find reason, we will start investigating, then we can predate the fines if we find there is a breach of following up on the decision. David can you give us a sense of the timetable with the other google cases . How close are you to resolution of those . They are very different, the two cases, because one case concerns the placement of ads on thirdparty sites and whether or not that market was foreclosed. The android case is how android is used to stay dominant when we all go mobile so the experience from when you open the box of your new phone is a google experience. We treat those cases of highpriority cases, but it is very difficult to say when we will be able to take a final decision. David can you say which is farther along than the other . Are they both proceeding in tandem . They are different. We have two case teams. I dont know if they are competing as well, but we really put a lot of effort into this because it is important for all Market Participants to know what will be the final decision. David a couple of months ago, darare speaking with khosrowshahi, the head of expedia and expressing concern about google with regard to travel services. Are there other parts of the deb business that concern you or might lead to investigations . We have a lot of complaints on other verticals. The thing is that with the google shopping decision, having established google is dominant in general search, when a company is dominant, competition is already weakened a little if you hold 90 of the market. This is where the special responsibility comes from, that you should not misuse your powers in your own market or neighboring markets, so this gives us a starting point looking at travel or locals. In that respect, yes, we will still take a strong interest in google behavior in other markets. David in the context of google, you have levied this 2 billion euro fine. Have you seen the company begin to change its ways, to work with your office to forestall further fining . Is there a dialogue between you and the company . Yes, there is a dialogue. I find them to be very personal. We dont agree on these issues , but i think it is important no matter your disagreement. And here we are talking about a decision by the commission, but it is still important to have a professional relationship because we want a change in market behavior to enable competition so the markets serve the consumer. On that, hopefully we can find a way. David thank you for your time. We appreciate it. Back to you, emily, in San Francisco. Emily thank you so much. Coming up, the European Commissioner for justice will be joining Bloomberg Technology this thursday to discuss the latest on the euu. S. Privacy shield. Former cisco c. E. O. John chambers is stepping down from the board after 24 years. Chuck robbins, who has been ceos since 2015, will take on the role of executive chairman. The change gives robin more complete control to steer cisco away from its reliance on highpriced hardware which provides most of its revenue. Coming up, the competition for workplace messaging apps is heating up. Slack is looking to solidify its standing with a boost from softbank. That is next. This is bloomberg. Emily the workplace messaging service slack has secured 250 million in its latest round of funding. More than half came from softbanks vision fund. Earlier this month, slack, which has more than 6 million daily users, announced its service will expand to germany. Today, the c. E. O. Spoke with bloomberg surveillance about the companys violation and potential for ipo. We are still relatively early , although we have grown fairly large. We are still growing as quickly as we can. We just had our first user conference in San Francisco last week. We announced a number of big partnerships, but significantly, we have the launch of slack in german, french, and spanish, and thats why we are here in london. With projects like that, we have very little ability to predict how fast it will be growing. Predictability is one thing we are missing as a Public Market company. I expect tshirts to be put out with the concert venues. Are from vancouver, so maybe it will be like heart from long ago and far away. Here is the issue. Guys in dark suits and bow ties look at an extrapolation of funds raised to 5 billion plus and go, what kind of dumb accounting is this . How do you as c. E. O. Respond when the fancy guys in suits and ties tell you you are worth 5 billion . I dont buy it for a minute. I love the question. We a little under four years in the market. We crossed 200 million in annual recurring revenue. We are still growing at 100 a year. 42 of the fortune 100. Up to this point, we have been english language only. So we expect strong growth in europe and asia. Within this is your ability to raise revenue. You have in your notes on your European Tour that you are building revenue. What is the quality of that revenue stream . Is it amazon quality, ebay quality, or is it a pieinthesky . I am not sure exactly how to take the comparison there, but of the great things is the one revenue is recurring. Over the three and a half years, we have had about 15 cumulative churn per month. I am not going to say it is the best in the industry, but it has got to be close. We are building on that at a rapid pace. Emily the slack c. E. O. Speaking with tom keene earlier today. Streaming platform roku is aiming to raise as much as 219 million in its initial public offering. The company and selling shareholders are marketing 15. 7 million shares for 12 to 14 apiece. 9 million will be sold by roku according to a filing with the fcc. Roku has yet to turn a profit since its inception in 2002 and faces increasing competition from apple, google, and amazon in the crowded market of home streaming devices. Coming up, how has the mega breach at equifax impacted the demand for Cyber Insurance . We will talk to the lloyds of london c. E. O. Inga beale. This is bloomberg. I am Stephen Engle with the latest first word headlines are President Trump spoke with sheesh and paying, aiming to step up pressure on north korea. The two leaders agreed to enforce United Nations sanctions to persuade kim jongun give up his nuclear prog