International Business

EU Seeks More Power Over Company Mergers: The European Union unveiled a controversial proposal for broadening its powers to evaluate such marriages. Competition Commissioner Karel Van Miert called for a change in the rules to allow the European Commission, the EU’s executive body, to investigate mergers among smaller companies to ensure that their fusion does not impede fair competition. Under existing rules, the EU investigates all mergers involving companies with combined revenues of more than $6 billion worldwide or $308 million within the union. Van Miert said he wants to lower those thresholds to $2.5 billion globally or $123 million within the EU.