Facebook warned of threats to innovation and freedom of expression on Monday, ahead of the release of a raft of rules by the European Union this week and in the coming months to rein in U.S. and Chinese tech companies.
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The European Union will decide by the end of the year whether to impose rules reining in the market power of U.S. tech giants, the bloc"s industry chief said on Monday as he criticised Facebook"s proposals as insufficient to address EU concerns.
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General Motors Co said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest restructuring of its global business, costing the U.S. auto maker $1.1 billion.
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Dubai is to take full control of port operator DP World in a deal with a $13.9 billion valuation that will help the company at the center of the emirate"s 2009 debt crisis to repay some of its borrowings.
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Global shares were buoyant on Monday as the promise of further policy stimulus from China to counteract the economic hit from a coronavirus outbreak calmed nervous investors.
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France"s Alstom is in talks to buy the train business of Canada"s Bombardier in a potential $7 billion deal that marks the latest attempt by Western rail companies to bulk up in the face of Chinese competition.
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Oil prices were little changed on Monday as concerns over the economic fallout from the coronavirus outbreak in China were offset by hopes that potential output cuts from major producers could tighten crude supply.
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Growth of global trade in goods is likely to remain weak in early 2020, the World Trade Organization (WTO) said on Monday, adding that the below-trend performance could become even worse due to the new coronavirus.
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Alibaba Group Holdings said on Monday its affiliate Ant Financial"s MYBank unit would offer 20 billion yuan ($2.86 billion) in loans to companies in China in light of the coronavirus outbreak, with preferential terms for Hubei firms.
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