Microsoft faces EU fine over Teams app antitrust issues
Microsoft could face a significant EU fine for bundling its Teams app with Office 365, which regulators say stifles competition. The EU claims this practice gives Teams an unfair advantage and limits interoperability with other software. Despite previous efforts to address these concerns, Microsoft plans to work on further solutions. The investigation follows a 2019 complaint by Slack, now owned by Salesforce. Microsoft has a history of antitrust issues but hasn't faced major EU scrutiny for a decade. The popularity of Teams surged during the pandemic, boosting its user base significantly.
Post-Brexit Britain sees fewer European job seekers
Since Brexit, fewer Europeans are looking for jobs in the UK, with Irish workers dropping out of the top ten nationalities seeking employment. Job seekers now come more from countries like India, Pakistan, and Nigeria. This shift is partly due to new immigration rules making it harder for EU workers to enter the UK. The right-wing Reform UK party is gaining support by promising to reduce immigration. Meanwhile, the UK job market is seeing increased interest from the "Anglosphere" and former Commonwealth countries.
European stocks rise on hopes of ECB rate cuts
European stocks climbed after hints of potential interest rate cuts by the European Central Bank. The Stoxx Europe 600 index gained 0.4%, with tech shares leading the way. US equity futures also edged higher, buoyed by Nvidia's recent surge. The dollar and Treasury yields remained steady, while the yen hovered near intervention levels. Japanese and Hong Kong stocks rose, but Australian markets dipped due to inflation concerns. In commodities, oil prices increased ahead of US inventory reports, while copper hit a two-month low and gold stayed stable.
Join the Investors' Club
Get access to professional investing tools for free and start building your wealth today!
Capital at risk
