1. Britain must be free to protect its leading position in the services sector, including finance, after it leaves the European Union, Prime Minister Theresa May said.Foreign Secretary Boris Johnson quit on Monday over May’s plan for Brexit, which includes a free-trade area for goods but little detail on the approach to services.
2. Four senior US Republicans sent letters to the chief executives of Apple and Alphabet asking questions about location data and mobile phone privacy practices and the handling of customer data. They wrote to the companies “to probe the companies’ representation of third-party access to consumer data.”
3. Twenty-First Century Fox is preparing a new bid for Sky that values it at about £25 billion ($US33.14 billion) to top the offer it has received from Comcast. Fox’s offer is expected to be at a premium to Comcast’s most recent bid of £12.50 per share, the Financial Times reported.
4. BMW plans to source €4 billion ($US4.7 billion) worth of battery cells from Chinese battery maker Contemporary Amperex Technology. The long-term contract sees €1.5 billion euros’ worth of battery cells coming from a new CATL plant in Erfurt, in the eastern German state of Thuringia.
5. BlackRock has increased its staff in Paris and is seeking to set up an alternative investment management business there. It’s another sign of the French capital’s increasing post-Brexit appeal.
6. Tesla has raised prices on its Model X and S cars by over $US20,000 in China.China slapped retaliatory tariffs on US car imports in response to President Donald Trump’s move to impose tariffs on $US34 billion worth of Chinese goods.
7. A former chauffeur to President Donald Trump sued Monday for thousands of hours’ worth of unpaid overtime that the driver says he’s owed.Noel Cintron sued the tycoon-turned-president’s business, the Trump Organisation, in a New York state court. While the suit doesn’t name Trump personally as a defendant, it accuses him of “callousness and cupidity.”
8. Americans increased their borrowing in May at the fastest pace in a year and a half, boosted by a big increase in credit card borrowing. The Federal Reserve says consumer debt rose $US24.5 billion in May after an increase of $US10 billion in April. It was the biggest monthly increase since a rise of $US24.8 billion in November 2016.
9. A US appeals court has approved a $US10 billion settlement between Volkswagen and car owners caught up in the company’s emissions cheating scandal. A three-judge panel of the 9th U.S. Circuit Court of Appeals ruled unanimously Monday that a federal judge had done more than enough to ensure the deal was fair.
10. Chinese inflationary pressures picked up in June.According to China’s National Bureau of Statistics (NBS), consumer price inflation (CPI) rose by 1.9% in the year to June, up from 1.8% in May.
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