Privacy activist Max Schrems has wasted no time making use of Europe’s new data protection law to target the giants of Silicon Valley. The Austrian lawyer’s non-profit organization NOYB filed complaints against Google, Facebook and Facebook-owned services WhatsApp and Instagram on Friday. The complaints could result in penalties worth up to 7 billion euros ($8.1 […]
Read moreU.S. consumer sentiment came in weaker than expected on Friday in the final reading of May. The University of Michigan’s survey of consumer attitudes reached 98 in the latest reading. Economists surveyed by Reuters expected it to hit 98.8, the same from a month earlier. “The May survey, however, found that consumers anticipated smaller income […]
Read moreSouth Africa’s President Cyril Ramaphosa has announced that some of the country’s largest public companies will return billions to the economy, potentially reviving industries that are renowned for their financial troubles. In a major speech this week, the country’s president claimed that they are expected to invest a total of 420 billion South African rand […]
Read moreU.S. Commerce Secretary Wilbur Ross will visit China early next month for another round of talks amid ongoing trade frictions between the world’s two largest economies. Ross will visit China from June 2 to June 4, the official Xinhua news agency reported on Friday, adding that Vice Premier Liu He, China’s chief negotiator in the […]
Read moreSeveral major U.S. media websites were blocked to Europeans on Friday as the European Union’s new data protection law kicked in. The websites of the Los Angeles Times, Chicago Tribune, New York Daily News and other publications owned by Tronc were down, showing the message: “Unfortunately, our website is currently unavailable in most European countries. […]
Read moreCurrency, United States Finance
Turkey's leadership scrambles to regain investor confidence in its monetary policy
Turkey may have made a long overdue move to raise interest rates in an attempt to rescue its plummeting national currency, but investors are still in doubt over the independence of its central bank ahead of national elections in June. On Friday, aiming to allay market fears over its monetary policy and rising inflation, Turkish […]
Read moreCurrency, United States Finance
The battle for the biggest prize in soccer, worth $370 million, is taking place this weekend
The biggest trophy in club soccer is up for grabs this weekend, when Real Madrid plays Liverpool in Kiev to be crowned the winner of the European Champions League. However, the biggest cash prize the game has to offer will actually be given out at Wembley Stadium a few hours earlier — with a game […]
Read moreCurrency, United States Finance
European markets seen higher after Trump scraps US-North Korea summit
European stocks are set to open higher on Friday morning, as market participants’ fears were calmed by North Korea‘s response to President Donald Trump‘s decision to cancel a landmark summit. The FTSE 100 is seen up by around 31 points at 7,765; the CAC is expected to open 30 points higher at 5,581 while the […]
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Currency, United States Finance
How Europe’s new privacy law called GDPR is creating big business opportunities
A sweeping data privacy law known as the General Data Protection Rule (GDPR) goes into effect across the EU today. While businesses have had two years to prepare for the new rules, a recent survey from data analytics firm SAS found only 49 percent of companies worldwide said they will meet the deadline to comply. […]
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Trump and Europe are entering a 'game of chicken' over Iran nuclear deal sanctions
European leaders are assembling a playbook to preserve the Iran nuclear deal that puts the Continent on course for direct conflict with the United States. Analysts are deeply skeptical that the measures under consideration will embolden big European multinationals to continue doing business with Iran in the face of powerful U.S. sanctions. However, the dispute […]
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