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Google must break up digital ad business over competition concerns, European regulators say

European Union antitrust regulators took aim at Google's lucrative digital advertising business in an unprecedented decision, saying Wednesday that the tech giant must sell off some of its ad business to address competition concerns.

The European Commission, the bloc's executive branch and top antitrust enforcer, said its preliminary view after an investigation is that "only the mandatory divestment by Google of part of its services" would satisfy the concerns.

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Toyota shareholders reject proposal demanding better performance on climate change

Toyota executives fielded challenges and reaped praise from investors at an annual general meeting Wednesday where shareholders ultimately rejected demands the automaker do better on fighting climate change.

The investor proposal was initiated by AkademikerPension, a $20 billion Danish investment fund. It accused Toyota Motor Corp. of lobbying to weaken efforts by governments around the world to phase out the internal combustion engine.

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Vodafone, Three to merge UK mobile phone operations to capitalize on 5G rollout

Two of the U.K.'s biggest mobile phone operators agreed Wednesday to merge their businesses to capitalize on the rollout of next-generation 5G wireless technology in the country.

The tie-up of Vodafone U.K. and Three, which is owned by Hong Kong's CK Hutchison, will create Britain's biggest mobile phone player, with a market value of around 15 billion pounds ($18.75 billion). Vodafone will account for 51% of the merged firm, with CK Hutchison owning the rest.

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USAID provides over $17.4M in additional humanitarian aid for vulnerable Lebanese

To help vulnerable Lebanese "continue to put food on the table and access medical care," the United States, through the U.S. Agency for International Development (USAID), is providing more than $17.4 million in additional humanitarian assistance to the people of Lebanon via the U.N. World Food Program (WFP) and two non-governmental organizations (NGOs), the U.S. Embassy said.

"As staple food and fuel prices rise and livelihoods erode, Lebanon’s deepening economic crisis continues to generate humanitarian needs by decreasing vulnerable populations’ purchasing power, and restricting access to healthcare," the Embassy said in a statement.

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UK business lobby 'confident' of recovery from scandal

Britain's main business lobby, the CBI, is "confident" of recovery after allegations of sexual misconduct threw it into crisis, the group's boss told MPs Tuesday.

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Global markets higher ahead of US inflation, Fed rates decision

Global stock markets and Wall Street futures rose Tuesday ahead of a U.S. inflation update and a Federal Reserve decision on another possible interest rate hike.

London and Paris opened higher. Shanghai, Tokyo and Hong Kong advanced. Oil prices rebounded from Monday's plunge.

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Once a reliable cash cow, Amazon's cloud business slows as companies pull back on service

When the pandemic hit three years ago, Amazon was one of the few businesses that thrived.

Customers flocked to the online commerce site amid global lockdowns. But even when those lockdowns eventually lifted and Amazon's sales slowed as people returned to stores, the company could still count on its massive cash cow: Amazon Web Services.

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Americans warned not to mail checks as check fraud cases escalate dramatically

Check fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether.

Banks issued roughly 680,000 reports of check fraud to the Financial Crimes Enforcement Network, also known as FinCEN, last year. That's up from 350,000 reports in 2021. Meanwhile the U.S. Postal Inspection Service reported roughly 300,000 complaints of mail theft in 2021, more than double the prior year's total.

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China struggles with weak post-COVID economic recovery

Sales of Yizhuan Automobile Co.'s trash trucks picked up after China ended anti-virus controls in December, but their growth is in low gear as managers struggle to rebuild business lost during the pandemic.

China's economy rebounded at the start of 2023, but after a good first quarter, factory output and consumer spending are weakening. An official survey in April found a record 1 in 5 young workers in cities were unemployed.

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World shares mostly higher as investors await Fed policy decision, price data

Shares opened higher Monday in Europe after a mixed session in Asia as investors await an interest rate decision by the Federal Reserve.

Shares rose in most markets apart from Shanghai and Seoul and U.S. futures also advanced. Oil prices fell sharply.

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