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GLOBAL BUSINESS

EU warns U.S. against exposing EU firms in Cuba -Reuters
“The EU reiterates a strong opposition to the extraterritorial application of unilateral restrictive measures which is considers contrary to international law,” a spokesman for the EU executive told a briefing in Brussels.

French lawmakers back tax on tech giants French lawmakers on Monday approved a new tax on digital giants such as Facebook and Apple that has angered the United States, with Finance Minister Bruno Le Maire boasting that France was proud to be in the vanguard of such a move. -France24

Italy competition watchdog opens probe into Amazon, adding to EU list Italy's competition authority announced Tuesday that it had opened a formal probe into Amazon’s business practices, adding to a list of European antitrust probes into the company. -Politico.eu

Big carmakers are placing vast bets on battery power From GM and Geely to Mitsubishi and Mercedes, giants of the industry are revving up their electric plans -The Economist

U.S. Justice Department tells T-Mobile, Sprint it has concerns about merger deal: sources The U.S. Justice Department has told T-Mobile US Inc and Sprint Corp it has concerns about their proposed $26 billion merger in its current structure, sources familiar with the matter said on Tuesday, although no final decision has been made. -Reuters

Russia's parliament votes to unplug internet from world The Russian Duma has given its final approval to a bill creating a domestic internet. Lawmakers say it aims to protect Russia from cyber threats — but the law has sparked protest: Critics worry it will allow censorship. -DW

PBS interview with Oleg Deripaska -PBS

“Ordinary people feel a lot of pressure. Russia is a part of global economy. And when you U.S. tried to weaponize on wrong — on ill-advised, their financial system, of course, Russia is a weak player in this case. The cost of that opportunity to attract capital, everything has been affected.”

France Bans Iran’s Mahan Air France last month banned Iran’s Mahan Air from flying in and out of the country, citing the commercial airline’s transfers of equipment and personnel to Syria’s Assad regime and other Middle East conflict zones. The move, which comes two months after a similar injunction by Germany, likely reflects the Trump administration’s increasing pressure on European governments. -FDD

Airbnb drops ban on listing illegal Israeli settlements in West Bank, in 'outrageous' policy reversal -Independent

GLOBAL MACRO

EU lawmakers approve package of banking reforms The banking overhaul, proposed by the European Commission in November 2016, sets the level of cash banks must set aside to absorb losses and introduces new requirements for capital and liquidity, in line with global standards agreed after the 2007-09 financial crisis. -Reuters

Trump to EU: Include agriculture in US trade talks or face tariffs ‘They barely take our agricultural products, and yet they can sell Mercedes Benz,’ US president complains. -Politico.eu

U.S. handbags, shovels on $20 billion EU tariff list over Boeing -Reuters