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.
[International Trade] The World Trade Organization ruled that tariffs imposed by Donald Trump on Chinese imports violated international trade law, particularly rules dictating that equal tariff rates are applied to member trading partners. Over60: CNN Business
[Tourism] Travel operator Thomas Cook, under new Chinese ownership, relaunches as a digital booking platform, one year after a spectacular collapse.
Over60: CNN Business
[IPO] Snowflake raises the largest initial public offering ever for a U.S. software company. In the latest sign of Wall Street’s massive demand for cloud computing service businesses, Snowflake sold 28 million shares valued at $120 each. Over60: F.T., CNBC
[Economy] Retail spending in America has dropped from 0.9% in July to 0.6% in August as some unemployment benefits ran out.
[Regulation] The U.S. Federal Trade Commission (FTC) is preparing to file a possible antitrust lawsuit against Facebook later this year because the company uses its powerful market position to stifle competition.
Over60: WSJ (Exclusive)