US, EU file WTO case against China

GENEVA: The United States and the European Union filed a case against China at the WTO yesterday, demanding that it loosen controls on foreign companies vying for a greater slice of the country's lucrative market for financial information.

The US and the 27-nation EU said they were challenging rules announced 18 months ago that undermine the ability of Reuters Group, Dow Jones and Bloomberg to sell financial information to banks, government agencies and other customers in China.

The requests trigger a 60-day consultation period. If the talks fail, the US and the EU can ask the WTO to launch a formal probe.