The European Union has unveiled a new antitrust probe and accompanying charges against Amazon over alleged the “use of non-public business data from independent sellers on its marketplace that could benefit the company’s own retail arm” – Bloomberg and NYTimes and WSJ
The EU also announced that it will begin today “imposing tariffs on around $4 billion worth of American aircraft, food, drinks and other products” in moves cleared by the WTO last month after finding Europe “could retaliate against the United States for years of illegal subsidies given to Boeing” – NYTimes and WSJ
Early on Monday, Apple revealed that it had suspended future business with iPhone assembler Pegatron over the Taiwanese company’s concealment of “violations of labor rules for students employed at its factories in China” – NYTimes and WSJ
Markets managed to sustain their pre-opening-bell excitement yesterday, with the Dow and S&P both closing up. Big Tech-driven losses helped bring the Nasdaq down late in the day, though, and ensured that Wall Street wouldn’t set any new records – NYTimes and WSJ
The strong showing helped drive U.S. junk bond yields to record lows, as “investors buoyed by a Joe Biden presidential victory and progress toward a Covid-19 vaccine poured into the debt of riskier companies” – Bloomberg
American businesses—“thrust into the culture wars like never before” since 2016—are largely welcoming the prospect of a Biden presidency that “could offer the change to engage with the White House on a range of issues” without nearly as much high-stakes, high publicity wrangling – NYTimes
Wirecard’s man of mystery, Jan Marsalek? Yep, still gone – Bloomberg
Following an apparently successful test-run collaboration in Canada with the Beyond Meat folks, McDonald’s will begin rolling out more broadly a new McPlant line that “could include imitation burgers, chicken and breakfast foods” – WSJ and Bloomberg and Mashable
Japanese tech giant SoftBank has announced that three of its top execs are stepping down from its Board as the company “tries to quell investor unease over the way it is run.” All three will remain in their executive positions at Masa Son’s outfit – NYTimes
A new settlement between the FTC and Zoom means that the videoconferencing platform will “have to review its product for any security and obtain a third-party assessment of its progress every other year” after the Commission accused it of promising “users a level of data encryption it didn’t provide” – WSJ and Law360 and Mashable
Hard to imagine, but with the craziness of the past month, Thanksgiving’s just weeks away. While it may not be the expansive affair as in years past, there’s certainly no reason to skimp on the dessert. In fact, pretty sure we’ve all earned a few extra helpings – NYTimes
Stay safe,
MDR
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