European stocks are set to open sharply lower on Monday after China ordered Tencent to end exclusive music licensing deals with record labels around the world, a step aimed at tackling the company's dominance of online music streaming in the country.
Beijing's announcement of new rules barring for-profit tutoring in core school subjects to ease financial pressures on families also dented sentiment.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.