United States
Cybersecurity
Security flaws in Skoda cars may allow nefarious players access to tracking and other data according to security researchers.
Byte Federal, which runs Bitcoin ATMs, announced that the personal data of 58,000 users was compromised in a security breach.
Enforcement
The FTC is refunding Fortnite customers 72m in connection with user interface tricks knows as “dark patterns” that resulted in unwanted charges and purchases.
Regulation
Trump advisers indicate plans to shrink or eliminate bank regulators, according to the Wall Street Journal.
Trump picks Andrew Ferguson to chair the FTC.
Hollywood Firefighters’ Pension sues United Healthcare executives for insider trading, including CEO Brian Johnson, who was killed in New York last week.
China
Chinese regulators ask investment banks to speed up offshore listings (subscription) of Chinese companies in order to boost fundraising and bolster the Chinese economy.
The Chinese government also intends to ease its monetary policies (subscription) in order to bolster internal demand and consumption.
EU
The ECB will lower its rates to 3% and has signalled an appetite for further cuts as concerns mount for the bloc’s economic growth.
International
The Basel Committee has published final guidelines for counterparty credit risk management. The guidelines include key practices critical to resolving long-standing industry weaknesses in counterparty credit risk management.
Japan
The Tokyo Metropolitan Government is planning a four-day working week in order to try to spur employees to start families. This is a radical move for Japan where in-office presence is the norm and underlines the concerns that many governments of developed countries have about fertility rates and demographic changes.
Switzerland
AllianceBernstein will join other bond holders in a suit against the Swiss state (subscription) connected with the decision to write down Credit Suisse’s AT1 bonds prior to the takeover of the bank by its rival UBS.
And the Trafigura bribery trial continues (subscription) with lawyers for the company alleging that the company is the victim of a political “crusade”.
UK
Ofwat, the troubled UK water regulator, hired consultants who simultaneously worked for the companies it was regulating raising concerns about potential conflicts of interest.
