EU TO PROBE INSURANCE MERGER

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 globally after leader Marsh & McLennan Companies Inc, are looking to the deal to boost their pricing power. Analysts said this will likely trigger deep regulatory scrutiny. The insurance industry is facing a host of issues, with rising claims and new threats from the global outbreak of coronavirus and climate change. SOURCE: Reuters

EU TECH CURBS TAKE SHAPE

Tech giants deemed to be gatekeepers could face fines as high as 10% of annual revenue if they don’t comply with new EU rules on data usage to be unveiled Tuesday, according to a draft of the regulation seen by Bloomberg News. Companies that could include Google, Amazon and Apple will be banned from using any data from business users to compete with them or from treating their own services more favourably in rankings, among other obligations. SOURCE: Bloomberg

DAXX SOLD TO US FIRM

Grid Dynamics Holdings has acquired Daxx, a Netherlands-based software development and technology consulting company. Headquartered in Amsterdam with engineering centers situated in major tech hubs across Ukraine, Daxx brings more than 20 years experience in delivering highly differentiated software services to clients across a wide range of industry verticals. In addition to high-end software development, the company provides consulting services spanning agile process reengineering, lean development, and DevOps. Daxx serves customers in the Netherlands, Germany, U.K., and U.S., enjoying long-term relationships with high-growth start-ups and established software companies operating in the fields of digital media, healthcare, education, and high tech. SOURCE: Press Release

SINGAPORE CONSTRUCTS ‘DAVOS’ TRAVEL BUBBLE

Singapore is to allow a limited number of business, official and other “high economic value” travellers from around the world under a “bubble” arrangement that offers a glimpse into what visitors for this year’s relocated Davos summit might expect. The annual World Economic Forum (WEF) will make its debut in Asia in May after being moved from its usual home in the Swiss ski resort of Davos over coronavirus safety concerns. SOURCE: Reuters