Brussels has failed to tame Big Tech because it has moved too slowly and lacked the legal muscle to restrain the likes of Google and Facebook from crushing their rivals, a new report from the EU’s external auditor has said. Antitrust probes are often too long and enforcement only occurs after

The world’s richest countries are edging towards a consensus on unlocking additional IMF funds for poorer nations whose economies have been battered by the coronavirus crisis, according to a leading G20 official. Mohammed al-Jadaan, the finance minister of Saudi Arabia, which holds the G20 presidency this year, told the Financial Times

Positive news of a coronavirus vaccine and the conclusion of the US election have emboldened global dealmakers to revisit proposed mergers and acquisitions and strike large-ticket transactions, according to bankers and legal advisers. Companies across the globe announced nearly $40bn worth of deals on Monday alone in a clear sign that

The US economy is facing an accelerating surge in coronavirus cases and harsh new restrictions on business activity without the cushion of meaningful fiscal support, raising fears of a blow to the recovery. Even though equity markets have rallied strongly on advances in the development of a vaccine, the deteriorating

Blackstone founder Stephen Schwarzman defended Donald Trump’s response to this year’s US poll results during an emergency meeting of senior business leaders alarmed by the president’s claims that the election is being stolen, according to several participants. About 30 chief executives — of companies as large as Goldman Sachs, Johnson &

The US has tallied more than 1m new coronavirus cases since the start of November as the pandemic accelerates in nearly all regions of the country, prompting officials to warn of a fresh strain on the healthcare system and weigh new restrictions to contain the spread of the disease.  President Donald

A small but influential group of Republicans has begun urging President Donald Trump to concede last week’s election, with a growing number using the term “president-elect” to refer to Joe Biden. Mr Trump has refused to accept his loss and continues to make baseless claims of voter fraud, while Republican

Anthony Fauci, the leading infectious disease expert in the US, predicted positive data from a second Covid-19 vaccine could come quickly on the heels of this week's strong trial results from Pfizer and BioNTech. US biotech company Moderna will begin assessing data from its Phase 3 vaccine trials “within a week”,

Joe Biden said it was an “embarrassment” that Donald Trump had not conceded defeat after losing last Tuesday’s election, although the president-elect insisted the refusal to acknowledge his victory would not hold up his transition plans. Speaking at his first press conference since he was declared the winner of last

A global equities rally extended into Asia on Tuesday as promising results from a Covid-19 vaccine trial boosted confidence in an economic recovery from the pandemic, though Chinese shares were damped by inflation data that suggested weakening consumer demand. The announcement by US drugmaker Pfizer and Germany’s BioNTech that their vaccine