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The regulator has also written to 100 businesses raising concerns over how they charge additional fees and the sales tactics they use.
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The announcement is the latest step in the drive to cut back regulation and boost economic growth.
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Latest Dear CEO letter addresses themes of innovation, competition and security.
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The company failed to provide information on user data storage, protection and transfers outside the EU.
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The payment giant is also looking to raise $2bn from investors.
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Federal Cartel Office suspects breaches of German and EU competition law.
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