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.
[Regulations] The EU is accusing Amazon of an antitrust violation of marketplace misuse. The complaint alleges that the company misused data it collects from third-party sellers to compete with sellers in France and Germany unfairly. If Amazon is found guilty, it would need to pay 10% of global revenues of $28 billion when considering earnings from 2019.
[Energy] BP PLC, the number five ranked oil company (by revenue), is advancing its green pledge with a partnership with renewable energy giant Ørsted A/S to produce hydrogen from wind power. This deal follows a new shift amongst oil companies towards greener energy production. Other giants such as Royal Dutch Shell PLC and Repsol SA have announced similar plans to increase hydrogen production.
[M&A] Spotify increases its portfolio of podcast companies with its latest acquisition of podcast advertising and publishing firm Megaphone for $235 million.
[M&A] Simon Property Group, America’s most prominent mall owner, and Brookfield Asset Management have been given the green light to buy US department store chain JCPenney out of bankruptcy for $1.75bn, in a deal expected to save about 60,000 jobs.