Bloomberg Chinese regulators are set to order Tencent Holdings Ltd. to give up exclusive rights to music labels, Reuters reported. The company will also receive a 500,000 yuan ($77,227) fine for misreporting the acquisition of two apps, according to the report. The penalties are the result of an investigation by the State Administration of Market Regulation into affiliate Tencent Music …

Bloomberg Dubai’s Al Khaleej Sugar Co, owner of the world’s largest port-based sugar refinery, received the green light to build a factory in Spain, extending its reach beyond the Middle East and North Africa. The company plans to start construction of the plant in Merida next year, said Managing Director Jamal Al Ghurair. The agreement between its subsidiary Iberica Sugar …

Bloomberg The European Union’s climate plan might be the most ambitious attempt yet to force a major economy to abandon fossil fuels, and by some measures it still won’t be enough to keep global temperatures from rising. But that’s no reason to despair. The Fit for 55 package — named for its goal of cutting emissions at least 55% from …