Danish EU commissioner pulls out of the race for the top job at the European Investment Bank

The European Union’s powerful antitrust chief has withdrawn as a candidate for the presidency of the European Investment Bank. The Danish government says Margrethe Vestager plans to return to her role at the EU’s executive commission for a few months. It announced Vestager's withdrawal on Friday after EU finance ministers agreed to back Spanish Economy Minister Nadia Calviño in becoming the next bank’s next president on Jan. 1. The European Investment Bank is the development bank of the 27-nation EU. As the bloc's commissioner for competition, Vestager has slapped Google with multibillion-dollar antitrust penalties, ordered Apple and Amazon to pay back taxes and fined Facebook over its WhatsApp acquisition.