Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[Trade] The U.K. has secured a free trade agreement with Singapore post-Brexit. The deal mostly follows the existing EU-Singapore FTA and covers more than £17 billion (~$22.5 billion) in goods.
[Media] Sony has agreed to purchase AT&T’s Crunchyroll Service for More Than $1 Billion. This will increase Sony’s library of animated movies and TV shows.
[Legal] General Electric Co. has agreed to pay a $200 million penalty to the Securities and Exchange Commission after a multi-year probe found the company misrepresented how its power business was making money, among other things.
[Antitrust] The Federal Trade Commission and 46 states sued Facebook Inc. on Wednesday, accusing the social-media giant of buying and freezing out small startups to choke competition.
[Economy] The European Central Bank (ECB) has decided to increase its bond-buying program by €500 billion (~$606 billion). Simultaneously, the ECB has decided to hold its deposit rates at -0.5% and expects inflation to be close to its 2% target. The decision comes as a resurgence of Covid-19 cases across Europe has led to new sets of lockdowns.