MarketsFeaturedFear & Greed IndexLatestBy and , CNN BusinessLink Copied!Ad Feedback — China has ordered to pay a record fine of 18.2 billion yuan ($2.8 billion) after concluded that the online shopping giant had been behaving like a monopoly.Chinese state media reported Saturday that the State Administration for Market Regulation had imposed the penalty following an antitrust investigation into Alibaba’s“exclusive dealing agreements” that prevented merchants from selling products on rival e-commerce platforms — a practice known as “choosing one from two.”The fine is equivalent...…MarketsFeaturedFear & Greed IndexLatestBy and , CNN BusinessLink Copied!Ad Feedback — China has ordered to pay a record fine of 18.2 billion yuan ($2.8 billion) after concluded that the online shopping giant had been behaving like a monopoly.Chinese state media reported Saturday that the State Administration for Market Regulation had imposed the penalty following an antitrust investigation into Alibaba’s“exclusive dealing agreements” that prevented merchants from selling products on rival e-commerce platforms — a practice known as “choosing one from two.”The fine is equivalent...WW…

London (CNN Business)France has links with Britain after a new Covid-19 variant emerged in southern England, adding to and giving the country a taste of the potential disruption to food and other vital supplies that could accompany a in just 10 days' time.Dozens of countries in Europe and around the world have halted flights from the United Kingdom, and the French government announced a 48-hour ban on truckers using ferry and rail routes from England to France after a potentially highly-infectious coronavirus mutation was blamed for a Christmas lockdown in London and the surrounding...…London (CNN Business)France has links with Britain after a new Covid-19 variant emerged in southern England, adding to and giving the country a taste of the potential disruption to food and other vital supplies that could accompany a in just 10 days' time.Dozens of countries in Europe and around the world have halted flights from the United Kingdom, and the French government announced a 48-hour ban on truckers using ferry and rail routes from England to France after a potentially highly-infectious coronavirus mutation was blamed for a Christmas lockdown in London and the surrounding...WW…

MarketsFeaturedFear & Greed IndexLatestBy , CNN BusinessLink Copied!Ad Feedback — The is pumping another £150 billion ($195 billion) into the UK economy after warning of a double-dip recession because of the coronavirus pandemic and an uncertain outlook because of .The UK central bank said on Thursday that it would keep interest rates unchanged at a record low of 0.1% but would increase its purchases of UK government bonds to £875 billion ($1.1 trillion).Restrictions introduced to tackle a rapid rise in Covid-19 cases would weigh on consumer spending to a greater extent than...…MarketsFeaturedFear & Greed IndexLatestBy , CNN BusinessLink Copied!Ad Feedback — The is pumping another £150 billion ($195 billion) into the UK economy after warning of a double-dip recession because of the coronavirus pandemic and an uncertain outlook because of .The UK central bank said on Thursday that it would keep interest rates unchanged at a record low of 0.1% but would increase its purchases of UK government bonds to £875 billion ($1.1 trillion).Restrictions introduced to tackle a rapid rise in Covid-19 cases would weigh on consumer spending to a greater extent than...WW…

London (CNN Business) output shrank by 20.4% in the second quarter of 2020, the worst quarterly slump on record, pushing the country into the of any major global economy. This crash in GDP in the April-June period, compared with the first quarter, is the worst since quarterly records began in 1955. Industries most exposed to government lockdown measures to — services, production and construction — saw record drops. "Today's figures confirm that hard times are here," UK finance minister Rishi Sunak said in a statement. "Hundreds of thousands of people have already lost their jobs, and sadly...…London (CNN Business) output shrank by 20.4% in the second quarter of 2020, the worst quarterly slump on record, pushing the country into the of any major global economy. This crash in GDP in the April-June period, compared with the first quarter, is the worst since quarterly records began in 1955. Industries most exposed to government lockdown measures to — services, production and construction — saw record drops. "Today's figures confirm that hard times are here," UK finance minister Rishi Sunak said in a statement. "Hundreds of thousands of people have already lost their jobs, and sadly...WW…

Vienna (CNN Business)Oil prices crashed more than 9% to their lowest level in nearly three years on Friday as major producing nations failed to agree on supply cuts aimed at addressing the caused by the .The OPEC cartel led by on Thursday had to its key ally Russia: extend existing production cuts of 2.1 million barrels through to the end of 2020; and make further cuts of 1.5 million barrels per day.But Russia refused to back the plan at a meeting with OPEC in Vienna on Friday, leaving the future of its three-year alliance with the cartel in doubt and raising the prospect of a huge supply...…Vienna (CNN Business)Oil prices crashed more than 9% to their lowest level in nearly three years on Friday as major producing nations failed to agree on supply cuts aimed at addressing the caused by the .The OPEC cartel led by on Thursday had to its key ally Russia: extend existing production cuts of 2.1 million barrels through to the end of 2020; and make further cuts of 1.5 million barrels per day.But Russia refused to back the plan at a meeting with OPEC in Vienna on Friday, leaving the future of its three-year alliance with the cartel in doubt and raising the prospect of a huge supply...WW…

MarketsFeaturedFear & Greed IndexLatestBy , CNN BusinessLink Copied!Ad Feedback — Oil prices are falling again Wednesday after Saudi Arabia doubled-down on its threat to flood the world with millions more barrels of crude despite the coronavirus .Just a day after confirming that it would jack up production by about 2.5 million barrels per day starting April 1 in a battle for market share with Russia and US producers, state oil company said it would increase its “maximum sustainable” capacity by 1 million barrels to 13 million per day. In other words, the Saudis are digging in...…MarketsFeaturedFear & Greed IndexLatestBy , CNN BusinessLink Copied!Ad Feedback — Oil prices are falling again Wednesday after Saudi Arabia doubled-down on its threat to flood the world with millions more barrels of crude despite the coronavirus .Just a day after confirming that it would jack up production by about 2.5 million barrels per day starting April 1 in a battle for market share with Russia and US producers, state oil company said it would increase its “maximum sustainable” capacity by 1 million barrels to 13 million per day. In other words, the Saudis are digging in...WW…