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☆ European markets set for lackluster open as traders focus on U.S. Election Day
▼ + stars: | 2024-11-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European stocks are heading for a lackluster start to the trading day as global markets gear up for the U.S. presidential election Tuesday, with the vote too close to call between former President Donald Trump and current Vice President Kamala Harris. The U.K.'s FTSE 100 index is expected to open 15 points lower at 8,177, Germany's DAX down 12 points at 19,149, France's CAC down 1 point at 7,374 and Italy's FTSE MIB up 73 points at 34,358, according to data from IG. Earnings are set to come from Saudi Aramco, Adecco, Schaeffler, Deutsche Post DHL, Zalando, Hugo Boss, Bouygues, Ørsted, Vestas Wind and Fresenius Medical Care. Market attention will be focused on which party dominates Congress as a result of the U.S. election, given that a sweep by Republicans or Democrats could contribute to drastic spending changes or a big revamp of tax policy. Follow CNBC's 2024 election live blog here.

Persons: Donald Trump, Kamala Harris, Germany's DAX, Hugo Boss, Bouygues, Ørsted Organizations: U.S, France's CAC, IG, Saudi Aramco, Adecco, Deutsche Post DHL, Zalando, Fresenius, Republicans Locations: Saudi

☆ 'Rate cut winners': Barclays names global stocks to buy when interest rates are cut
▼ + stars: | 2024-07-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

Barclays has identified a list of global stocks poised to benefit as central banks in Europe and the U.K. prepare to cut interest rates. The European Central Bank and the Bank of England are expected to continue, or begin, reducing interest rates in the second half of this year, continuing into 2025. Barclays economists project that by mid-2025, the ECB's key rate could reach 2.5%, while the Bank of England's rate might settle at 4%. Barclays included the following stocks in its "rate-cut winners basket", among which are: Cellnex Telecom, Royal KPN , Hermes , Zalando , and Siemens Healthineers . While banks are often thought to suffer from lower interest rates, Barclays suggests that any loss in earnings from lower rates could be partially offset by higher lending volumes and reduced provisions for bad loans.

Persons: Royal KPN, Matthew Joyce Organizations: Barclays, European Central Bank, Bank of England, Bank of, Cellnex Telecom, Royal, Siemens Locations: Europe

☆ Wall Street banks name UK stocks to watch as Brits head to the polls
▼ + stars: | 2024-07-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

It would mark the second-highest pre-election performance since 1992, trailing only the 12.6% surge seen before the 1997 election, according to RBC's Fielding. "Overall, should a similar pattern to the 1997 election emerge in the future, the forward 1, 3, and 6-month periods could be notably strong." Genuit , Howden , and Travis Perkins were highlighted in the Building Materials sector, while Taylor Wimpey and Vistry were flagged in the homebuilders category. The bank specifically highlighted Barratt , Persimmon , and Taylor Wimpey as companies likely to benefit from these reforms. "Barratt and Taylor Wimpey remain our preferred Buy-rated names given the opportunities arising from potential planning reforms and relatively undemanding valuations."

Persons: Mark Fielding, RBC's Fielding, Fielding, Genuit, Travis Perkins, Taylor Wimpey, Ami Galla, Galla, —, Labour —, Barratt, Persimmon, " Barratt, AJ Bell Organizations: RBC Capital Markets, Conservative, Labour, RBC, FTSE, FTMC, Materials, AFC Energy, ITM Power, boohoo Locations: Howden, Germany, St, James's, London, Berkeley

☆ The fashion industry needs better sourcing and waste practices — fast. Cloud computing could be a long-term fix.
▼ + stars: | 2024-06-13 | by ( Jake Hall | ) www.businessinsider.com time to read: +8 min

Cloud computing is gaining tractionCloud computing offers on-demand services, from storage to software, over the internet. And the fashion industry has gradually been waking up to the potential of cloud computing. In her report, "Fashion Transformation 4.0: Beyond Digitalization & Marketing in Fashion Industry," she said that the fashion industry must embrace new technologies in order to survive. "Fashion is a terribly old-fashioned industry," Alies ter Kuile, the cofounder of Fashion Cloud, said. With cloud computing, retailers can avoid overbuying stock — a key driver of fashion's textile-waste problem.

Persons: —, It's, Porter, Eon, there's, Bharati Rathore, Rathore, ter, ter Kuile, they're, Ter Kuile, Alan Holcroft, Steven Gonzalez Monserrate Organizations: Service, Green, Google, University of South, Marketing, Fashion Industry, Brands, Cegid Locations: University of South Wales, Dutch, ter Kuile

☆ Shein wants to sell the supply-chain tech it used to disrupt online shopping. Retail experts say brands may have concerns.
▼ + stars: | 2024-06-06 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

Shein has also grown beyond its fashion roots, selling products in categories such as home goods, electronics, and office supplies. A Shein spokesperson said the company's success did not depend on the de minimis provision. The Shein spokesperson said the company had a "zero-tolerance policy for forced labor" and required its "contract manufacturers to only source cotton from approved regions." "Shein suppliers and third-party sellers are required to comply with company policy and certify their products do not infringe third-party IP." "Currently, Shein just sells the very low-cost products, but including various brands in its platform, it can sell products at various price ranges," he said.

Persons: —, Shein, Donald Tang, Evelyn Gong, who's, It's, confidentially, Prince Ghosh, Ghosh, Christophe Archambault, Gong, minimis, wouldn't, JADE GAO, hasn't, Anand Kumar Organizations: Chain Management, Service, Industry, Wall Street Journal, Carnegie Mellon University's Tepper School of Business, Research, London Stock Exchange, Brands, Walmart, Walmart Commerce Technologies, Department of Homeland Security, Labor, CNBC, National Retail Federation, Coresight Research, Shein Locations: China, Singapore, Paris, minimis, Shein, Guangzhou

☆ Ad transparency tools are 'major disappointment' ahead of election, new study shows
▼ + stars: | 2024-04-16 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

That's according to research out Tuesday from Mozilla and CheckFirst, which concludes that leading tech platforms are lagging in their ad transparency tools. None of the results were great, and some were "a major disappointment," according to the researchers. "This is now no longer something that's voluntary," Claire Pershan, EU advocacy lead at Mozilla, told CNBC. It's troubling news as the major platforms prepare for a huge year of elections that affect upward of 4 billion people in more than 40 countries. Lesplingart told CNBC that users had to know the advertiser name, targeted country and date of the advertisement in order to export to an ad file.

Persons: Sundar Pichai, Microsoft's Bing, Claire Pershan, Amaury Lesplingart, CheckFirst, Josh Becker, Lesplingart, Bing, Alibaba's, Zalando, Booking.com, TikTok, it's, we'd Organizations: Inc, Government, Society, Mozilla, Google, LinkedIn, Union's Digital Services, CNBC, Democratic, X, European Commission, DSA, Meta, YouTube Locations: Stanford , California, U.S, Meta, California

[1/2] A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Paresh Dave/File Photo Acquire Licensing RightsBRUSSELS/STOCKHOLM, Nov 14 (Reuters) - Microsoft and Google will not challenge an EU law requiring them to make it easier for users to move between competing services such as social media platforms and internet browsers. As part of its latest crackdown on Big Tech, the European Union in September picked 22 "gatekeeper" services, run by six of the world's biggest tech companies, to face new rules . The Digital Markets Act (DMA) requires these gatekeepers to inter-operate their messaging apps with competitors and allow users to decide which apps they pre-install on their devices. The DMA will apply to services from Alphabet (GOOGL.O), Amazon (AMZN.O), Apple (AAPL.O), Meta (META.O), Microsoft (MSFT.O) and TikTok owner ByteDance.

Persons: Paresh Dave, ByteDance, Meta, WhatsApp, TikTok, Foo Yun Chee, Supantha Mukherjee, Sharon Singleton, Alexander Smith Organizations: REUTERS, Microsoft, Google, Big Tech, European Union, Markets, Apple, Amazon, Digital Services, European Commission, Digital Markets, Windows, LinkedIn, Industry, Reuters, Facebook, Bloomberg, Thomson Locations: Mountain View , California, U.S, BRUSSELS, STOCKHOLM, Luxembourg, Brussels, Stockholm

☆ Zalando cuts 2023 sales forecast as demand stays weak
▼ + stars: | 2023-11-02 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. Zalando now expects 2023 revenue to fall between 0.5% and 3%, having previously guided to a 1% decline at worst. An unusually warm September weighed on sales of autumn and winter clothes, Zalando said, exacerbating the impact of weak consumer sentiment. Gross merchandise volume - a measure of sales on the platform by Zalando and partner brands - fell by 2.4% from a year ago. The company's market value has dropped over the past two years as shoppers, freed from pandemic restrictions, returned to stores and ordered fewer clothes online.

Persons: Clodagh, Zalando, Clément Génelot, Bryan Garnier, Zalando's, Génelot, Gross, Helen Reid, Christian Schmollinger, Sonali Paul Organizations: REUTERS, Thomson Locations: Galway, Ireland, Paris, Germany, Austria, Switzerland

☆ Citadel Securities is locked in a legal battle with 2 ex-staff who left to start a crypto firm and say they're victims of 'corporate bullying'
▼ + stars: | 2023-09-24 | by ( Chris Johnston | ) www.businessinsider.com time to read: +6 min

The venture has faced legal challenges by Citadel Securities, whose European arm filed a case in London in June 2022. Portofino said in its initial response that Citadel's legal action was "unmeritorious, anticompetitive and a classic example of corporate bullying." AdvertisementAdvertisementIn January 2022 Griffin sold a $1.2 billion stake in Citadel Securities to venture capital firms Sequoia and Paradigm. "Further, their attempt to improperly poach Vincent Prieur, a New York-based employee described as the 'aggregator of all things crypto' at Citadel Securities, is undisputed. Prieur, who later joined Portofino, had also been the subject of legal action by Citadel Securities that was settled out of court, Bloomberg reported.

Persons: Alex Casimo, Leonard Lancia, Ken Griffin, Griffin, Peter Thiel, Slack, Zalando, Portofino, Casimo, it's, Peng Zhao, Matt Huang, Lancia, poach Vincent Prieur, Prieur Organizations: Citadel Securities, Portofino Technologies, Citadel, New, Service, Ventures, Global Founders Capital, Global Founders, Lancia, London Court, Portofino, Court, Southern, of, Sequoia, Paradigm, Financial Times, Bloomberg Locations: New York, Wall, Silicon, Miami, Swiss, London, Europe, of New York, Portofino

☆ Amazon and more: Barclays reveals internet winners and losers for an AI world
▼ + stars: | 2023-09-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Analysts at Barclays have named consumer internet stocks set to do well — and badly — in an age of generative AI. Outlining what they called "a framework for generative AI success," the bank analyzed possible opportunities and risks as generative AI is embraced around the world. "We think it's still too early to declare the AI (artificial intelligence) 'winners' and 'losers' in the consumer internet space. Stocks to watch Barclays named several stocks that it says screen well, including U.S. tech giants Google , Meta and Amazon . Barclays warned that, for these companies, generative AI could make audience acquisition more difficult and limit opportunities for investments.

Persons: Stocks, Michael Bloom Organizations: Barclays, Google, Meta Locations: China, U.S, Tencent, disruptors

STOCKHOLM, Sept 6 (Reuters) - The EU Commission on Wednesday designated 22 services of six major tech companies as "gatekeepers" of online services providing messaging to video sharing in its latest crackdown on Big Tech. Alphabet's Google had the highest number of services, including Android operating system, Maps and Search, which would face tougher rules. "It's D-Day for #DMA!," EU industry chief Thierry Breton said on X, formerly known as Twitter. "The most impactful online companies will now have to play by our EU rules." A Microsoft spokesperson said it accepts its gatekeeper designation, while Meta, Google and Amazon spokespersons said they were reviewing the designations.

Persons: WhatsApp, Thierry Breton, TikTok, Stavroula Vryna, Clifford Chance, Supantha Mukherjee, Foo Yun Chee, Martin Coulter, Jason Neely, David Evans Organizations: EU, Big Tech, Apple, Microsoft, ByteDance, Google, Android, Facebook, Justice, Digital Services, Meta, Gmail, Edge, Thomson Locations: STOCKHOLM, Luxembourg, iMessage, Stockholm, Brussels, London

☆ Big Tech braces for EU Digital Services Act regulations
▼ + stars: | 2023-08-24 | by ( Martin Coulter | ) www.reuters.com time to read: +5 min

LONDON, Aug 24 (Reuters) - More than a dozen of the world's biggest tech companies face unprecedented legal scrutiny, as the European Union's sweeping Digital Services Act (DSA) imposes new rules on content moderation, user privacy and transparency this month. The EU is seen as the global leader in tech regulation, with more wide-ranging pieces of legislation – such as the Digital Markets Act and the AI Act – on the way. For now, the rules only apply to 19 of the largest online platforms, those with more than 45 million users in the EU. Researchers removed the ads before they were published, so no Facebook users saw them. It will soon become obvious if any of the designated companies had "skirted their legal responsibilities," said Hayes.

Persons: –, Kingsley Hayes, Keller Postman, Eko, Meta, TikTok, Zalando, Hayes, Martin Coulter, Josie Kao Organizations: Digital Services, Facebook, Google, Digital Markets, DSA, Reuters, European Commission, Twitter, YouTube, Global, Amazon, Thomson Locations: EU, Europe, Ireland, Luxembourg

The logo of Google is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo Acquire Licensing RightsBRUSSELS, Aug 24 (Reuters) - Google will provide more information on targeted advertisements and give researchers more access to data on how its products work, to comply with landmark European Union online content rules, the Alphabet (GOOGL.O) unit said on Thursday. "We will increase data access for researchers looking to understand more about how Google Search, YouTube, Google Maps, Google Play and Shopping work in practice, and conducting research related to understanding systemic content risks in the EU," she said. It will roll out a new Transparency Center for people to access information about its policies on a product-by-product basis. Reporting by Foo Yun Chee; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Charles Platiau, Laurie Richardson, Foo Yun Chee, Devika Organizations: Google, Viva Tech, REUTERS, Rights, European Union, Digital Services, Microsoft, Twitter, HK, DSA, Center, Thomson Locations: Paris, France, U.S

European Commissioner for Internal Market Thierry Breton attends a news conference following an informal video conference of internal market and industry ministers in Brussels, Belgium February 25, 2021. These very large online platforms and very large online search engines have until Friday to provide their first annual risk assessment to the European Commission. "Complying with the DSA is not a punishment – it is an opportunity for these online platforms to reinforce their brand value and reputation as a trustworthy site," Breton said in a statement. "My services and I will thoroughly enforce the DSA, and fully use our new powers to investigate and sanction platforms where warranted," he said. Reporting by Foo Yun Chee; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Thierry Breton, Olivier Hoslet, Breton, Foo Yun Chee, Chizu Organizations: Internal, Rights, Google, Microsoft, Twitter, Digital Services, DSA, HK, European Commission, Thomson Locations: Brussels, Belgium, Europe

☆ Carbon accounting was red hot in 2021. Now it's facing widespread consolidation, investors say.
▼ + stars: | 2023-08-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +8 min

Carbon accounting startups peaked in 2021, raising over $5 billion from investors. The rise of carbon accountingThere are around 50 European carbon accounting companies, many of which didn't exist before 2019, according to Insider's own research. Venture capitalists are typically bullish on SaaS because it can scale quickly with few overheads, which is the promise many carbon accounting companies make. Carbon accounting business models often fell short of true SaaS scalability and instead relied on employees doing tasks manually, despite touting automation, investors said. The next generation of carbon accounting companies should be hyper-focused on one niche – for example, accounting for methane in the agricultural industry or water use.

Persons: Niklas Kaskeala, Antero Vartia, grimly, Kaskeala, That's, Namrata Sandhu, Luca Schmid, ClimateTrade, Germany's, Australia's Envizi, EcoOnline, Germany's Planetly, Buyers aren't Organizations: Sequoia, Octopus Ventures, Cherry Ventures, Balderton, Investors, Venture, Germany's TeamClimate, Watershed, IBM, Sage, SoftBank, KPMG, Enterprise, SAP, Oracle Locations: Helsinki, Finnish, Coatue, Europe, Zalando, London

☆ Amazon launches first Big Tech challenge to EU online content rules
▼ + stars: | 2023-07-11 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

Amazon's challenge at the Luxembourg-based General Court, Europe's second highest, is the first by a Big Tech company and came two weeks after German online retailer Zalando (ZALG.DE) sued the European Commission over the same issue. Under the Digital Services Act (DSA), which came into force last year, 19 online platforms and search engines were labelled as very large online platforms (VLOP) as they have more than 45 million users. The VLOP designation requires companies to do more to tackle illegal online content. "If the VLOP designation were to be applied to Amazon and not to other large retailers across the EU, Amazon would be unfairly singled out and forced to meet onerous administrative obligations that don’t benefit EU consumers," an Amazon spokesperson said. "Amazon doesn’t fit this description of a 'Very Large Online Platform’ under the DSA and therefore should not be designated as such," the spokesperson said.

Persons: Foo Yun Chee, Sharon Singleton Organizations: Union, Big Tech, European Commission, Digital Services, EU, Amazon, DSA, Thomson Locations: BRUSSELS, Luxembourg, U.S

☆ Amazon launches first U.S. challenge to EU content rules and says it would be 'unfairly singled out'
▼ + stars: | 2023-07-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is fighting its inclusion in the European Union's list of companies that are subject to landmark online content rules, marking the first U.S. challenge to the proposed legislation. Fellow U.S. tech giants Google , Meta and Apple are also subject to the rules. Amazon disputed it being labeled a VLOP under the act, saying the designation applies to companies with advertising as their primary revenue and that distribute speech and information. "If the VLOP designation were to be applied to Amazon and not to other large retailers across the EU, Amazon would be unfairly singled out and forced to meet onerous administrative obligations that don't benefit EU consumers." Last month, German online fashion and lifestyle retailer Zalando filed a suit contesting its designation as a VLOP, arguing retail constitutes the majority of its business.

Persons: Zalando Organizations: EU's Digital Services, U.S, Google, Apple, Amazon, EU, European Commission, DSA Locations: U.S

☆ H&M to grow third-party brand strategy as online rivalry intensifies
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, June 29 (Reuters) - H&M (HMb.ST) plans to sell more third-party brands online and in stores, CEO Helena Helmersson said on Thursday, as one of the world's top fashion retailers ramps up its effort to take on e-commerce rivals. Its marketplace strategy, launched last year, is aimed at challenging online rivals like Zalando, ASOS, and fast-fashion giant Shein as competition intensifies. Inditex-owned (ITX.MC) Zara features other brands only for exclusive collaborations, such as with South Korean label Ader Error and British shoemaker Clarks. "This has been really well received by customers who also complement the H&M assortment with other brands," Helmersson said. "Inditex's thinking is focused on its own brands, own stores and own online," said Lowery.

Persons: Helena Helmersson, M's, Zara, Clarks, Helmersson, Geoff Lowery, Inditex's Zara, Lowery, Marie, Helen Reid, Josephine Mason, Emma Rumney Organizations: Adidas, South, Marie Mannes, Thomson Locations: STOCKHOLM, Cos, Swedish, Monki, Hong Kong, Stockholm, London

☆ Zalando sues EU Commission over landmark online content rules
▼ + stars: | 2023-06-27 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, June 27 (Reuters) - Zalando (ZALG.DE), Europe's biggest online fashion retailer, on Tuesday sued the European Commission for putting it in the same category as Alphabet's (GOOGL.O) Google and Meta Platforms (META.O) regarding new and tough EU online content rules. Under rules known as the Digital Services Act (DSA) which came into force last year, Zalando was labelled a very large online platform (VLOP) because it has more than 45 million users. EU industry chief Thierry Breton in April labelled 19 online platforms and search engines including five Alphabet subsidiaries, two Meta units, two Microsoft (MSFT.O) businesses, Twitter, Alibaba's (9988.HK) AliExpress and Zalando as VLOPs. "The European Commission misinterpreted our user numbers and failed to acknowledge our mainly retail business model. The number of European visitors who connect with our Partners is far below the DSA's threshold to be considered as a VLOP," Zalando CEO Robert Gentz said in a statement.

Persons: Zalando, Thierry Breton, Germany's Zalando, Robert Gentz, Breton, Gentz, Foo Yun, Christina Fincher Organizations: Tuesday, European Commission, Google, Digital Services, Microsoft, Twitter, HK, Justice, European Union, Commission, Partners, Thomson Locations: BRUSSELS, Luxembourg

☆ Bets on A.I. and innovation help this tech-focused T. Rowe Price fund outperform the market
▼ + stars: | 2023-06-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Since joining investment management firm in 2000, Allen's worked his way up the corporate ladder, taking the helm as portfolio manager of the T. Rowe Price Science & Technology (PRSCX) fund in 2009. In the wake of the latest artificial intelligence boom that's driven up last year's beaten-up technology stocks, it's skyrocketed nearly 38% in 2023. Longer-term, the fund, with a 0.84% expense ratio, offers 10- and 15-year trailing returns of more than 16% and about 13%, respectively. This year, Allen has benefited from a spectacular run-up in technology stocks, fueled by a mania for all things tied to artificial intelligence. "It's really important to learn over time when things go well and especially when things don't go well," Allen said.

Persons: Ken Allen, Rowe Price, Allen's, Allen, Salesforce, it's, Morningstar, I've Organizations: Colby College, Rowe Price Science & Technology, PRSCX, Apple, Netflix, Nvidia, Devices, Microsoft, Zalando, Amazon, Meta, Accenture, Mastercard, Texas, Texas Instruments Locations: Maine, Baltimore, Salesforce, Zalando, buybacks

☆ Mattel Experiments With ChatGPT in Cybersecurity
▼ + stars: | 2023-06-08 | by ( Catherine Stupp | ) www.wsj.com time to read: +3 min

Toy maker Mattel is experimenting with generative-artificial-intelligence tools including ChatGPT to help its cybersecurity teams, but the company’s head of cybersecurity said the risk of inaccurate results from the new technology is too great to deploy it broadly. But many results from queries to the AI tools are incorrect, even if they appear convincing, he said. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. All Mattel employees using ChatGPT are receiving training on how to use generative AI tools securely, he said. German e-commerce giant Zalando plans to offer a shopping assistant using ChatGPT.

Persons: cybersecurity, Tom Le, ” Le, OpenAI, Mattel’s Le, Ilia Kolochenko, ”, Goldman Sachs, Le, Catherine Stupp Organizations: Mattel, Training, Employees, JPMorgan, Verizon, Commonwealth Bank of Australia

☆ These European companies cut jobs this year
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +4 min

TECH* ERICSSON (ERICb.ST): the telecom equipment maker will lay off 8,500 employees globally as part of its plan to cut costs, a memo seen by Reuters said. * NOKIA (NOKIA.HE): the Finnish telecom equipment maker said on May 3 it plans to cut up to 208 jobs in Finland. * PHILIPS (PHG.AS): the Dutch medical equipment maker on Jan. 30 said it would cut 6,000 jobs to counter falling sales and after a massive recall of its respiratory machines. * SAP (SAPG.DE): the German software company said on Jan. 26 it planned to shed 3,000 jobs, 2.5% of its global workforce, to cut costs and focus on its cloud business. * EVONIK (EVKn.DE): the German specialty chemicals producer said on April 3 it would cut 200 jobs as part of restructuring of its pet food unit.

☆ Amazon, Apple and more: EU names the Big Tech platforms set to face tougher regulatory scrutiny
▼ + stars: | 2023-04-25 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The European Commission, the executive arm of the EU, in late 2020 presented new legislation on how regulators should keep a closer eye on tech giants. Under this Digital Services Act (DSA), which was implemented four months ago, regulators are able to police content to reduce harmful comments and set rules for the use of artificial intelligence. European regulators have previously warned Elon Musk, CEO of Twitter, that his firm faces significant amounts of work to comply with the new rulebook. He added in a statement Tuesday: "The countdown is starting for 19 very large online platforms and search engines to fully comply with the special obligations that the Digital Services Act imposes on them." "The Digital Services Act is comprehensive and will be a challenge for online intermediaries to get their head around, with the largest players facing the biggest impact.

☆ EU singles out 19 tech giants for online content rules
▼ + stars: | 2023-04-25 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

The 19 companies include Alphabet's Google Maps, Google Play, Google Search, Google Shopping and YouTube, Meta's Facebook and Instagram, Amazon's (AMZN.O) Marketplace and Apple's App Store. The others are Microsoft's two units Linkedin and Bing, booking.com (BKNG.O), Pinterest (PINS.N), Snap Inc's (SNAP.N) Snapchat, TikTok, Twitter, Wikipedia, Zalando (ZALG.DE) and Alibaba's (9988.HK) AliExpress. "We consider these 19 online platforms and search engines have become systematically relevant and have special responsibilities to make the internet safer," Breton told reporters. Breton singled out Facebook's content moderation system for criticism because of its role in building opinions on key issues. So I look forward to an invitation to Bytedance's headquarters to understand better the origin of Tiktok," Breton said.

☆ Retailers to tackle sustainability at key conference
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +3 min

They will discuss the challenges facing their businesses as inflation causes consumers in Europe and elsewhere to reduce spending. The European Commission is drawing up new rules on textile waste that will make companies responsible for managing the waste their products create. Decathlon, the world's biggest sporting goods retailer, sells repair services, spare parts and tools for people to repair their own bicycles, tents, and kayaks. Retailers are working with local authorities ahead of an EU law that will require member states to separately collect textile waste by Jan. 1, 2025. Firms including Decathlon, Mango, Inditex, and IKEA recently created an association in Spain for the management of textile waste.

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