LESS THAN €500 MONTHLY FOR LYNK

Lynk & Co., the Chinese-Swedish car sharing platform owned by the same company that owns Volvo, Lotus, and Polestar, has finally lifted the lid on how much its service will cost to use, what its car will be, and how it will all work. e online launch event today, company CEO Alain Visser, who was a former division head at Volvo, said that owning a Lynk & Co. car will never cost more than €500 per month. That goes for those that “buy” a Lynk & Co. vehicle but never lend it out. SOURCE: thenextweb.com

NEW MOVE TO HELP START-UPS

In the quest to alleviate some of the issues young companies face, the European Union Intellectual Property Office (EUIPO) and the European Crowdfunding Network (ECN), have signed a collaboration agreement to help and support small and medium-sized enterprises, saying the collaboration is a good opportunity to promote crowdfunding as a viable means to boost entrepreneurship, social innovation and job creation. The EUIPO intends to maximise the outreach of the ECN´s network to transmit the importance of IP rights (trademarks, patents, design, etc.) and to empower SMEs through knowledge about intellectual property protection. SOURCE: europa.eu

FROM PROFIT TO LOSS FOR CAIRN

888, the online gambling company, has signalled its interest in buying William Hill’s European business should it be sold as part of the bookmaker’s proposed £2.9bn acquisition by Caesars. Itai Pazner, chief executive of 888, said the group was “in a good position to make acquisitions”.  SOURCE: Financial Times

SUEZ TRIES TO HEAD OFF VEOLIA

French utility Suez on Thursday floated a last-minute alternative to a takeover by rival Veolia involving private equity group Ardian, but its manoeuvre looked unlikely to succeed and arrived too late for selling shareholder Engie. Veolia closed in on an agreement to buy power group Engie’s 29.9% stake in Suez on Wednesday night, in a prelude to a full takeover bid and marking a breakthrough after weeks of hostilities between the parties. SOURCE: Reuters

EU STARTS LEGAL PROCESS AGAINST UK

The European Commission will on Thursday send a “letter of formal notice” to the U.K. for breaching the terms of the Withdrawal Agreement, a person familiar with the matter said. The letter is the first step in a a legal process that could result in a lawsuit at the European Court of Justice. European Commission president Ursula von der Layen will announce the plan at 11 a.m. in Brussels. The pound dropped by 0.5% against the dollar on the news. For now, the move signals tensions are high as Brexit trade negotiations enter a critical phase. SOURCE: Bloomberg


ILLUSTRATION: Lynk’s SUV