WASHINGTON-The Justice Department Monday endorsed legislation forbidding large digital platforms such as Amazon and Google from favoring their own products and services over competitors', marking the Biden administration's first full-throated support of the antitrust measure.
"The Department views the rise of dominant platforms as presenting a threat to open markets and competition, with risks for consumers, businesses, innovation, resiliency, global competitiveness, and our democracy," says a letter to bipartisan leaders of the Senate Judiciary Committee, signed by Peter Hyun, the Justice Department's acting assistant attorney general for legislative affairs.
Sunac China Shares Slide on Results Delay, Imminent Trading Halt
Sunac China Holdings Ltd. shares slid after the Chinese property company said it would delay the release of its financial results amid uncertainties concerning credit downgrades and efforts to extend payment deadlines for onshore bonds.
Shares fell as much as 22% to 3.85 Hong Kong dollars (49 U.S. cents) in early Tuesday trading, taking its year-to-date losses to more than 60% and putting it on track for its second-biggest one-day loss since it listed in 2010. Sunac Services Holdings Ltd. shares slid as much as 9.9%.
Tesla to Request Shareholder Approval for Stock Split
Tesla Inc. said it would request shareholder approval at its annual meeting for an increase in the number of shares of the electric-car maker to enable a stock split, though the company didn't specify when such a split would take place or what the ratio of shares would be.
Tesla shares closed Monday at $1,091.84, up 8%. The auto maker typically holds its shareholder meeting in the fall.
Write to paul.larkins@dowjones.com
Expected Major Events for Tuesday
06:00/GER: Apr GfK consumer climate survey
06:00/SWE: Feb Retail sales
06:00/GER: Feb Foreign trade price indices
06:45/FRA: Feb Housing starts
06:45/FRA: Mar Consumer confidence survey
07:00/SPN: Feb Retail Sales
08:00/ICE: Feb PPI
08:00/ICE: Mar CPI
08:00/AUT: Mar Austria Manufacturing PMI
08:30/UK: Feb Monetary & Financial Statistics
08:30/UK: Feb Bank of England effective interest rates
08:30/UK: Feb Money and Credit - Lending to Individuals, Lending to Businesses, Broad Money and Credit
09:00/MLT: Feb PPI
11:00/UK: 1Q Bank of England Quarterly Bulletin
23:01/UK: Mar Shop Price Index
All times in GMT. Powered by Kantar Media and Dow Jones.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
03-29-22 0030ET
