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NEW YORK:

Carnival Corp shares tumbled Monday after the cruise operator gave a weaker-than-expected outlook, citing growing fuel costs.

The stock fell $6.11, or 9.6 percent, to $57.42 in morning trading. The lackluster guidance and concern over growing costs helped drag down its peers.

Shares of Norwegian Cruise Line Holdings Ltd fell $3.17, or 6.1 percent, to $48.17. Royal Caribbean Cruises Ltd shares fell $5.12, or 4.6 percent, to $106.43. (AP)

BOSTON:

GE is selling its distributed power unit to Advent International for $3.25 billion as it continues to shed businesses.

The deal includes distributed power’s Jenbacher and Waukesha engines and manufacturing sites in Austria, Canada and the US

The distributed power business had 2017 sales of $1.32 billion and has about 3,000 workers. (AP)

LOS ANGELES:

Shares of Netflix took a hit Monday, dropping more than 6% in morning trading, coming after chief communications officer was Jonathan Friedland was fired late Friday over racially insensitive remarks he’d used in company meetings.

The pullback by Netflix investors come after the stock hit record highs last week, closing at $411.09 per share Friday. News of Friedland’s ouster broke near the close of trading; on Monday, the stock was down 5.8% at $387.27 per share as of 11:15 am ET.

Also Monday, ProSiebenSat.1 and Discovery announced a partnership to launch a German TV subscription streaming platform that would combine ProSieben’s Max dome VOD service and Discovery’ s Eur os port Player — representing a new challenge to Netflix in Germany. (RTRS)

LONDON:

French satellite group Eutelsat Communications said on Monday it was considering making an offer for its British rival Inmarsat, confirming media reports.

Eutelsat said it was “currently evaluating a possible offer for Inmarsat”, although there was no certainty an offer would be made.

The move comes after Inmarsat said earlier this month it had rejected a takeover approach from EchoStar, a US company which has continued to build a stake in Inmarsat. (RTRS)

LOS ANGELES:

Bulking up its adtech toolkit, AT&T announced a deal to acquire AppNexus, which operates a global digital-advertising marketplace and related software.

Terms of the deal were not disclosed. AT&T previously was in talks to pay about $1.6 billion for AppNexus, the Wall Street Journal reported. AppNexus had raised $320 million from investors including ad giant WPP, Tribeca Venture Partners, News Corp., TCV and Venrock.

The announcement comes less than two weeks after AT&T completed its takeover of Time Warner and forming WarnerMedia. (RTRS)

LONDON:

BMW would have to close its British factories which make Mini and Rolls-Royce cars if Brexit leads to serious supply chain disruption, a company executive said in remarks published by the Financial Times on Monday.

“We always said we can do our best and prepare everything, but if at the end of the day the supply chain will have a stop at the border, then we cannot produce our products in the UK,” BMW customs manager Stephan Freismuth said.

BMW’s warning follows concerns expressed last week by the head of Siemens’ UK operations, who told Reuters Britain should stay in the EU’s customs union, contrary to the British government’s policy. (RTRS)

PRAGUE:

Czech state-run power group CEZ is targeting the wind energy sector in France, a country where the segment has been on the rise for the past decade, a company official told AFP.

France has vowed to raise the share of green power in its energy mix to 23 percent by 2020 and to 32 percent by 2030 as part of meeting EU-wide renewable energy targets.

CEZ, which is 70-percent-controlled by the Czech state, bought nine wind farm projects under construction in France from German developer ABO Wind in June 2017. (AFP)

LONDON:

Uber argued Monday that is should be allowed to keep driving on the streets of London, telling a court that the ride-hailing app has made significant changes since a regulator refused to renew the company’s operating license last year.

Lawyers for the company opened their case in an effort to overturn Transport for London’s ruling in September that Uber was not a “fit and proper” company after repeated lapses in corporate responsibility. Uber attorney Tom de la Mare said the ruling led to “wholesale change” at the company. (AP)

PARIS:

Jacques Saade, who founded France’s CMA CGM 40 years ago as a one-vessel firm and built it into a global container shipping giant, has died aged 81, the company said on Monday.

Saade, a major figure in French business circles, set up the Compagnie Maritime d’Affretement (CMA) in 1978 in the Mediterranean port city of Marseille, after leaving Lebanon during the civil war in that country.

Starting with just one ship operating between Marseille and Beirut, Saade used a series of acquisitions in the following decades to transform the family firm into the world’s third-largest container line behind Maersk and Swissbased MSC. (RTRS)

BRUSSELS:

Four e-commerce giants, including Amazon and Alibaba, pledged Monday to withdraw dangerous products more quickly from the market, the European Commission said.

It said the firms, which also included eBay and Rakuten-France, had pledged to act within two working days when notified by EU member states of a dangerous product and within five days when informed by consumers.

The pledge they signed will “further improve consumer safety,” said Vera Jourova, tasked with consumer affairs for the commission, the executive arm of the 28-nation EU. (AFP)