Bloomberg The world’s biggest technology companies could face billions of dollars in fines for breaches of new European Union legislation after lawmakers reached an agreement on its scope. The landmark Digital Services Act (DSA) is the EU’s answer to what it sees as a failure by tech giants to combat illegal content on their platforms. Noncompliance could cost companies as …

Bloomberg For years, Volkswagen’s poor performance in the US fuelled debate among the company’s managers about whether Europe’s biggest carmaker should simply pack up and leave. According to Chief Executive Officer Herbert Diess, that’s no longer remotely an option. “We are going nowhere,” Diess said in a recent interview with CBS’s 60 Minutes. “No, we have to come back in …

  Bloomberg Shares in Ferrari NV tumbled the most in more than two weeks after the luxury sports carmaker issued a recall for 2,222 of its vehicles in China, telling owners there may be some problem with the brakes. According to Bloomberg Intelligence data, that’s the equivalent volume of almost every car Ferrari has sold in the country since 2018 …