Apple Inc. appealed a €500 million ($580 million) fine from the European Union, calling the penalty “unprecedented” and the regulator’s required changes to its App Store as “unlawful.”

The European Commission announced the fine in April under its Digital Markets Act, saying that the iPhone maker ran afoul of rules related to allowing developers to steer users to make purchases outside of its store. In June, Apple changed its EU App Store policies to meet local requirements and avoid additional penalties.

“We believe the European Commission’s decision — and their unprecedented fine — go far beyond what the law requires,” the company said in a statement on Monday.

— Bloomberg

BANGKOK >> China said Sunday that European medical device companies will be barred from selling to the Chinese government as a countermeasure for the European Union’s restrictions on the sale of similar products from China.

European companies will be excluded if the budget for procurement is above 45 million yuan ($6.28 million), according to a notice from the Finance Ministry on Sunday with the restrictions in place the same day. The move will not apply to European companies that have invested in China and that manufacture goods in the country.

China on Friday imposed anti-dumping duties on European brandy, most notably cognac produced in France.

— The Associated Press

Canadians are becoming less optimistic about their job prospects as the economy struggles to find momentum.

The percentage of Canadians who believe their jobs are “secure” or “somewhat secure” has fallen below 60% for the first time in more than a year, according to polling for Bloomberg News by Nanos Research. About 30% say they’re unsure, the biggest proportion since 2023.

The Canadian labor market has softened, with four straight months of either minimal job growth or outright losses. The unemployment rate was 7% in May, the highest level since 2016 excluding the COVID-19 pandemic period.

— Bloomberg

Nissan Motor Co. plans to sell about $5 billion in debt to help fund Chief Executive Officer Ivan Espinosa’s turnaround of the ailing automaker, part of a broader financing initiative to keep operations on track.

The Japanese carmaker will sell ¥150 billion ($1 billion) of convertible bonds for investment in new products and technologies, the company said on Monday.

Nissan also plans to issue a total of $4 billion in unsecured dollar- and euro-denominated junk bonds for general corporate purposes including refinancing debt, according to a person familiar with the matter who asked not to be identified as they’re not authorized to speak publicly. The notes are expected to price later this week.

— Bloomberg