Articles by Foo Yun Chee

Aon’s Concessions to EU May Not Be Enough to Close $30B Willis Deal: Sources

BRUSSELS – Insurance broker Aon’s offer to sell assets in five EU countries and takeover target Willis Towers Watson’s reinsurance arm may not be enough to address EU competition concerns, people familiar with the matter said on Tuesday. Aon is …

Update: Aon Offers to Sell Assets to Gain EU Antitrust Approval for $30B Willis Bid

BRUSSELS – Insurance broker Aon has offered to sell assets in several EU countries and the reinsurance unit of takeover target Willis Towers Watson to gain EU antitrust approval for its $30 billion acquisition bid, a person familiar with the …

Update – Aon’s $30B Bid for Willis Towers Watson Faces EU Antitrust Warning: Reuters

BRUSSELS – Aon will face a list of objections by the EU’s antitrust watchdog which it must overcome with concessions to proceed with its $30 billion bid for Willis Towers Watson, two people familiar with the matter said. The negotiations …

Uber Urges EU to Recognize Gig Business Model as UK Court Is Set to Rule

Uber on Monday called on EU regulators to recognize the value of independent contracts in job creation as they consider new rules to protect gig economy workers. The company has been criticized for classifying its drivers as independent contractors rather …

EU Experts Hit Roadblock in Trying to Resolve Tech, Carmakers’ Patent Dispute

European Union efforts to resolve a patent dispute between tech companies and carmakers have hit a roadblock after experts enlisted for advice failed to agree on the level of royalties or who should pay them. Tech firm Nokia and automaker …

Aon’s $30B Bid for Willis Towers Watson Faces EU Probe: Reuters

BRUSSELS – Aon’s $30 billion bid for Willis Towers to create the world’s largest insurance broker faces a full-scale investigation because of its complexity, two people familiar with the matter said. The companies, which are the second and third-largest brokers …

EU Privacy Agency Does Not Expect New EU-US Data Privacy Accord Any Time Soon

Companies hoping the EU and the new U.S. administration will soon strike a new transatlantic data transfer pact to replace one struck down by a court will probably have to wait months for any result, the head of the EU …

EU Wants Better Self-Regulation by Facebook, Google, Twitter; Plans Liability Changes

Two years after agreeing to a self-regulatory code of practice to tackle disinformation, Facebook, Alphabet’s Google, Twitter and other tech rivals must try harder to be more effective, the European Commission said on Thursday. Fake news related to COVID-19 has …

Firms Need Immediate Rethink on U.S. Data Transfers, Says EU Privacy Watchdog

Companies seeking to transfer data to the United States must revert to new arrangements with immediate effect after the Privacy Shield transatlantic pact was declared invalid last week, a European Union watchdog said on Friday. The privacy watchdog said the …

European Union Court Invalidates Special Data Privacy Shield Granted U.S. Firms

LUXEMBOURG – Europe’s highest court ruled on Thursday that a transatlantic data transfer deal is invalid because of concerns about U.S. surveillance in a decision that could disrupt thousands of companies that rely on the agreement. The ruling, which cannot …