Good morning! Here’s what you need to know.
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 ($33.14 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 ($4.7 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 $20,000 in China. China slapped retaliatory tariffs on US car imports in response to President Donald Trump’s move to impose tariffs on $34 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 …read more
Source:: Business Insider