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Vestager said she accepted Scott Morton's decision to quit with regret but economists warned that the debacle will leave the bloc's competition commissioner weakened. Vestager should have been more transparent on possible conflicts of interest, said EU lawmaker Paul Tang from the Netherlands. That didn't help the candidature of Scott Morton," he said. Vestager's defence of her choice at a hearing on Tuesday was disappointing, said EU lawmaker and French lawyer Stephanie Yon-Courtin, who opposed Scott Morton's appointment. The issue with this nomination was neither American nor French, it is a matter of European interest," she said.
Persons: Margrethe Vestager, Fiona Scott Morton, Scott Morton, Emmanuel Macron, Vestager, Scott Morton's, Paul Tang, Stephanie Yon, Alexandre De Streel, Jean Tirole, Jacques Cremer, Foo Yun Chee, Elaine Hardcastle Organizations: Union, Apple, Microsoft, Commission, EU, U.S . Department of Justice, Big Tech, European Union, Amazon, Namur University, Toulouse School of Economics, Thomson Locations: BRUSSELS, U.S, France, Yale, Netherlands, American
Retail sales increased 0.2% last month, the U.S. Commerce Department said, but core retail sales increased 0.6%, excluding automobiles, gasoline, building materials and food services. Headline data for May also was revised higher to show sales gaining 0.5% instead of 0.3% as previously reported. Asian stocks fell earlier in the session as markets caught up with growth data from Monday showing the post-pandemic bounce in China's economy was over. Besides the Fed, the European Central Bank and the Bank of Japan also hold policy meetings next week. Expectations that the Fed and the ECB will diverge on rate hikes have caused the dollar to weaken recently.
Persons: Brendan McDermid, Morgan Stanley, Jimmy Chang, Chang, J.P, Morgan, Fiona Cincotta, DAX, Brent, Herbert Lash, Elizabeth Howcroft, Selina Li, Chizu Nomiyama, Jonathan Oatis, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Bank, Federal, Bank of America, U.S . Commerce Department, Rockefeller, Dow Jones, Nasdaq, Deutsche Bank, Citigroup, Fed, European Central Bank, Bank of, ECB, U.S, West Texas, Thomson Locations: New York City, U.S, New York, Europe, China, Germany, Bank of Japan, London, Hong Kong
[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. Headline data for May also was revised higher to show sales gaining 0.5% instead of 0.3% as previously reported. Deutsche Bank said it was lowering its forecast for China's economic growth this year, following similar moves on Monday by J.P. Morgan, Morgan Stanley and Citigroup. Besides the Fed, the European Central Bank and the Bank of Japan also hold policy meetings next week. Expectations that the Fed and the ECB will diverge on rate hikes have caused the dollar to weaken recently.
Persons: Brendan McDermid, Dow Industrials, Thomas Hayes, Dow, Morgan Stanley, J.P, Morgan, Fiona Cincotta, DAX, Brent, Elizabeth Howcroft, Selina Li, Chizu Nomiyama, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Reserve, U.S . Commerce Department, Treasury, Dow, Nasdaq, Microsoft Corp, Amazon.com Inc, Apple Inc, Great, Great Hill Capital, Bank of America, Dow Jones, Deutsche Bank, Citigroup, Fed, European Central Bank, Bank of, ECB, Thomson Locations: New York City, U.S, Great Hill, New York, Europe, China, Germany, Bank of Japan, Hong Kong
BRUSSELS, July 18 (Reuters) - French President Emmanuel Macron on Tuesday criticised EU antitrust chief Margrethe Vestager's decision to hire a U.S. economist over a European to help oversee Big Tech, adding her previous work could lead to conflicts of interest. Macron added he was "attached to reciprocity", and noted that the U.S. and China would not have appointed an overseas national in such a role. Scott Morton will advise the European Commission on its investigations into Big Tech and its enforcement of a series of landmark rules to rein in tech giants. Macron pointed to her previous work for "many companies" as something that could also result in conflicts of interest. She said previous chief economists at the Commission had also done consulting work without posing any issues.
Persons: Emmanuel Macron, Margrethe Vestager's, Vestager, Fiona Scott Morton, Barack Obama's, Macron, Scott Morton, Jean Tirole, Scott Morton's, Sudip Kar, Bernadette Baum, Sharon Singleton, Jan Harvey Organizations: Big Tech, U.S . Department of Justice, European Union, Commission, Thomson Locations: BRUSSELS, Europe, China
BRUSSELS, July 18 (Reuters) - U.S. economist Fiona Scott Morton's experience from her consulting work for Big Tech, will stand her in good stead in her new job as chief economist at the European Commission, EU antitrust chief Margrethe Vestager told EU lawmakers on Tuesday as she defended her choice. "I think it's a good thing to come with experience, she knows our system inside out," Vestager said, addressing concerns of conflicts of interest due to Scott Morton's consulting work for Big Tech. Reporting by Foo Yun CheeOur Standards: The Thomson Reuters Trust Principles.
Persons: Fiona Scott Morton's, Margrethe Vestager, Vestager, Scott Morton's, Foo Yun Chee Organizations: Big Tech, European Commission, Thomson Locations: BRUSSELS
Executive Vice President Margrethe Vestager is answering questions from lawmakers on considering giving a top job in her cabinet to a U.S. citizen. Europe's powerful competition chief, Margrethe Vestager, is under fire for hiring an American citizen for one of her team's top jobs. Vestager, who's been leading investigations into Big Tech for almost 10 years, is due to answer questions from European lawmakers Tuesday after appointing Fiona Scott Morton, a professor at the Yale School of Management, as chief competition economist at the European Commission, the EU's executive arm. Laurence Boone, France's secretary for Europe, said on Twitter that she had spoken with Vestager about this nomination, adding that "Europe has many talented economists." "I invite the European Commission to reconsider its choice," he added.
Persons: Margrethe Vestager, who's, Fiona Scott Morton, Laurence Boone, Jean, Noël Organizations: Big Tech, Yale School of Management, European Commission, Twitter, Commission, CNBC Locations: Europe, Brussels
BRUSSELS, July 14 (Reuters) - The European Commission stuck to its guns on Friday, saying it was not reconsidering EU antitrust chief Margrethe Vestager's pick of a U.S. economist to a senior job helping to oversee Big Tech despite criticism from French ministers and EU lawmakers. Fiona Scott Morton, 56, the former chief economist at the U.S. Department of Justice during former President Barack Obama's tenure, will take up her three-year stint on Sept. 1 when the current chief economist, Pierre Regibeau, retires. She will be the first non-EU national, first U.S. national and first woman for the job. They cited the strategic importance of the post, potential conflicts of interest due to Scott Morton's previous work with Big Tech, and her previous public antitrust comments. Head of the centre-right group European People's Party Manfred Weber, president of the liberals' group Renew Europe Stephane Sejourne, head of the socialists group Iratxe Garcia Perez and the heads of the green party Philippe Lamberts and Terry Reintke said they opposed the new hire.
Persons: Margrethe Vestager's, Fiona Scott Morton, Barack Obama's, Pierre Regibeau, Vestager, Scott Morton's, Dana Spinant, European People's Party Manfred Weber, Europe Stephane Sejourne, Iratxe Garcia Perez, Philippe Lamberts, Terry Reintke, Scott Morton, Foo Yun Chee, Jan Harvey Organizations: European Commission, Big Tech, U.S . Department of Justice, EU, European People's Party, Thomson Locations: BRUSSELS, U.S, Europe
BRUSSELS/PARIS, July 13 (Reuters) - France's foreign minister and government minister have called EU antitrust chief Margrethe Vestager to reconsider her appointment of a U.S. economist and former antitrust official to a senior job at the European Commission overseeing Big Tech. Vestager on Tuesday announced the hiring of Fiona Scott Morton, the former chief economist at the U.S. Department of Justice during former President Barack Obama's tenure. Scott Morton will take up her post on Sept. 1 when the current chief economist, Pierre Regibeau, retires. French foreign minister Catherine Colonna said she was astonished at the appointment. "I invite the @EU_Commission to reconsider their choice."
Persons: Margrethe Vestager, Fiona Scott Morton, Barack Obama's, Scott Morton, Pierre Regibeau, Catherine Colonna, Jean, Noel Barrot, Foo Yun Chee, Conor Humphries Organizations: European Commission, Big Tech, Vestager, Tuesday, U.S . Department of Justice, Charles River Associates, DG, Thomson Locations: BRUSSELS, PARIS, France, Europe
Phillip alleged Barclays owed her a duty to ignore her instructions if the bank had reasonable grounds to suspect she was being defrauded. "Where the customer has authorised and instructed the bank to make a payment, the bank must carry out the instruction promptly," he said. "It is not for the bank to concern itself with the wisdom or risks of its customer's payment decisions." James Levy, a partner at law firm Ashurst, said the onus was on customers to ensure payment instructions were bona fide. The Supreme Court, however, allowed Philipp to pursue an alternative case against Barclays on the grounds that the bank breached its duty by failing to take adequate steps to recover the money transferred to the UAE.
Persons: Fiona Philipp, Phillip, George Leggatt, James Levy, Ashurst, Philipp, Sam Tobin, Kirstin Ridley, Louise Heavens, Barbara Lewis, Jane Merriman Organizations: Barclays, Wednesday, Court, United Arab Emirates, Payment Systems, Financial Services, UAE, Thomson Locations: fraudsters, UAE
London CNN —British journalist and TV host Fiona Phillips has revealed that she was diagnosed with Alzheimer’s disease at age 61. In an exclusive interview with a British tabloid, Phillips said the neurodegenerative disease, which commonly affects memory, reasoning and mood, had already “decimated” her family. According to the newspaper, Phillips was diagnosed a year ago, after suffering from anxiety and brain fog. Phillips added that her husband, fellow TV journalist Martin Frizell, has been helping her take her medication three times a day. Asked how she is coping with her diagnosis, Phillips said she just does what she normally does.
Persons: Fiona Phillips, Phillips, , Barry, ” Phillips, , , Alzheimer’s, Martin Frizell, “ Poor Martin Organizations: London CNN, Daily, ITV, US Centers for Disease Control Locations: British
Donald Trump boasted about his relationship with Vladimir Putin at a South Carolina rally. Trump said Putin described him as "vicious," but they still got along. "As Putin said, 'You are the most vicious president ever.' President Donald Trump (R) and Russia's President Vladimir Putin talk as they make their way to take the "family photo" during the Asia-Pacific Economic Cooperation (APEC) leaders' summit in the central Vietnamese city of Danang on November 11, 2017. Fiona Hill, who served as the top Russia advisor on the National Security Council under Trump, previously said that Putin often became frustrated with Trump over his lack of knowledge on big issues.
Persons: Donald Trump, Vladimir Putin, Trump, Putin, , There's, MAGA, JORGE SILVA, Kim Jong Un, Xi Jinping, Trump's, Fiona Hill Organizations: Service, Putin, Economic Cooperation, Getty, North, Washington, National Security Council, Trump Locations: South Carolina, Pickens, Russia, Ukraine, Asia, Danang
But learning the facts - that affirmative action is critical for fostering equal access and opportunity in our academic institutions -cemented my belief that affirmative action is necessary if we want to create an equitable nation. The court’s decision Thursday is consistent with its view that race-based preferences should and would have a limited shelf life. Jon Wang, who revealed himself as a plaintiff in this Supreme Court case, was rejected by Harvard but was accepted at and is now attending Georgia Tech. Affirmative action enabled my ability to experience different ways of thinking and to form the lasting friendships I have made. Affirmative action has been a tool used by many countries to ensure underrepresented communities are included in areas they normally are not.
Persons: who’d, Tan, , Ana Fernandez, Richard Kahlenberg, Peniel Joseph, Peniel Joseph Kelvin Ma, Kelvin Ma, retrenchment, Bakke, Shelby, Holder, John F, Barry Goldwater, Richard Nixon, Ronald Reagan, Peniel, Joseph, Barbara Jordan, , ” Lanhee Chen, Bollinger, Sandra Day O’Connor, Lanhee Chen Lanhee J . Chen, J, Chen, David, Diane Steffy, Romney, Ryan, Roxanne Jones, Andrew Johnson, Jones, WURD, Richard Sander, , Richard Sander Fiona Harrison, Jeff Yang, Ed Blum’s, Jon Wang, Michael Wang, Williams, Jian Li, Bruce, Hudson Yang, Natasha Warikoo, Ketanji Brown Jackson, ” Natasha Warikoo Alonso Nichols, John Roberts, Brayden Rothe, Biden, can’t, Joe Biden, Brayden Rothe Patrick O'Leary, Pell Organizations: CNN, Fellows of Harvard College, Harvard, Harvard College, Cuban, American Council, Education, Wellesley College, Renaissance Studies, Black, Tufts University, Blacks, Ivy League, Federalist Society, John Birch Society, Trump, Democratic Party, GOP, Center, LBJ School of Public Affairs, University of Texas, Racial Justice, University of North, University of North Carolina Chapel, Public Policy, Hoover Institution, California State, Republican, Democratic, White, Fair, Supreme, ESPN The Magazine, ESPN, New York Daily News, Philadelphia Inquirer, The University of California, UCLA, University of California, UC, Georgia Tech, Department of Education, Princeton, Yale, Stanford, Princeton University, Institute for, Digital Intelligence, Harvard University, College, Social Sciences, of Sociology, Equity, University of Minnesota Locations: today’s, Philippines, Taiwan, Los Angeles, Portland, White, American, United States, West Linn , Oregon, Cuban American, Miami, Havana, Cuba, Miami , Florida, America, Austin, University of North Carolina, California, lockstep, Berkeley, Asian America, Florida, Texas
Hong Kong CNN —It’s dusk in Hong Kong Park. On a sweltering summer day in Hong Kong Park, nestled between skyscrapers in the urban center of the Asian metropolis, a yellow-crested cockatoo perches on a branch. Noemi Cassanelli/CNN Yellow-crested cockatoos nest in old trees, typically more than 100 years old, which form cavities in the trunk. Hong Kong, despite its urban sprawl and concrete veneer, is a stronghold for several endangered species, including Chinese pangolins, Hong Kong groupers, and the black-faced spoonbill. (According to the AFCD, it has “not received any report related to poaching of yellow-crested cockatoos in the past three years.”)Extremely picky about where they roost, the yellow-crested cockatoos use cavities that form in the trunks of trees that are typically older than 100 years.
Persons: Hong Kong CNN —, , Astrid Andersson, it’s, , Andersson, Quadrupling, Noemi Cassanelli, Cassanelli, CNN Andersson, CNN There's, they’ve, , Tom Booth, Fox, It’s, , Fiona Woodhouse, Woodhouse, Hong Kong’s, Jovy Chan, Chan, “ They’ve Organizations: CNN, Hong Kong CNN, Press, University of Hong, Timor Leste, International Trade, Fisheries, Conservation Department, CITES, Scottish wildcats, ADM Capital Foundation, Society for, Bird, Cultural Services Department, Facebook, Hong, SPCA HK, WWF Locations: Hong Kong, Swedish, Indonesia, Timor, Australia, University of Hong Kong, Hong, , Mainland China, HKD28,000, Indonesian
West Must Brace for Fallout of Insurrection in Russia, Analysts SayA poster reading 'Join us at Wagner' being removed near St. Petersburg on Saturday. (Associated Press)A former White House adviser on Russia said that Wagner’s decision to turn its troops on Moscow was the result of the Kremlin’s military failures and the private army’s exasperation with its troops becoming cannon fodder. Fiona Hill said Wagner’s leader, Yevgeny Prigozhin, was “now telling the truth about the military failure and the official pretext for the invasion.”
Persons: Wagner, Fiona Hill, Yevgeny Prigozhin, , Organizations: Associated Press, White Locations: Russia, St . Petersburg, Moscow
Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). What does it mean to prequalify for a personal loan? 4 steps to prequalify for a personal loanHere are the steps you'll take to get prequalified for a personal loan. See Insider's picks for the best personal loans for bad credit >>Prequalifying for a personal loan FAQSWhat is the difference between prequalification and preapproval for a personal loan? How long does it take to prequalify for a personal loan?
Persons: Prequalification, , Andrew Latham, you'll, Latham, It's, They'll, Fiona, you've, You'll, Nathan Hoskin, it'll, it's Organizations: Service, Hoskin, Chevron
Fiona Currie enrolled in her first college class at age 9 as an experiment. Her parents, Roderick and Blanca, had watched their eldest daughter breeze through three different public school curricula in California, skipping grades to feel challenged by schoolwork. With few other options, they took a chance with an English class at Los Angeles City College. Through a dual-enrollment program, she earned college credits while completing her middle school classes. After completing college-level classes in math, art, anthropology and more, why would a student finish high school with everyone else?
Persons: Fiona Currie, Roderick, Blanca, Fiona aced, Fiona, Mozart, It's, you've Organizations: Los, Los Angeles City, Los Angeles City College, CNBC Locations: Los Angeles, California, Blanca
Mortgage rates are likely to remain high despite the Federal Reserve's pause on interest rate hikes. While that may be good sign for fixed-income funds in California, the pause is a blow to affordable housing in the state, said Fiona Ma, California state treasurer, during the CNBC Financial Advisor Summit.
Persons: Fiona Ma Organizations: CNBC, Summit Locations: California
Google has told staff they must show up in the office at least three days a week. Google employees are having strong reactions to the company's biggest push yet to bring staff back to the office. The news has not gone over well with staff, according to discussions with several current employees and internal materials viewed by Insider. Google insiderGoogle has told staff that their work badges will be tracked, but the company told Insider it will only be used to identify consistent absences over multiple weeks. "Currently, New York City workers do not even have enough desks and conference rooms for workers to use comfortably," said Chris Schmidt with the Alphabet Workers Union.
Persons: Ryan Lamont, we're, Memegen, Fiona Cicconi, Chris Schmidt Organizations: Google, Google's, Alphabet Workers, Alphabet Workers Union Locations: New York City
[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 9, 2023. REUTERS/StaffLONDON, June 13 (Reuters) - Global shares rose on Tuesday, taking their lead from an upbeat session on Wall Street ahead of key U.S. inflation data that could shape the outlook for Federal Reserve monetary policy. Money markets show traders now anticipate a peak in UK rates at around 5.6% by February, up from a terminal rate of 4.85% by November a month ago. In currencies, the dollar index , which measures the performance of the U.S. currency against six others, fell 0.2% to 103.32. Sterling rose 0.4% against the dollar to $1.2567 after the UK wage data , while the euro rose 0.4% to $1.0796.
Persons: Michael Hewson, it’s, BoE, we've, Fiona Cincotta, Farouq Suleiman, Julie Zhu, Christopher Cushing, Jamie Freed, Simon Cameron, Moore, Conor Humphries Organizations: REUTERS, Staff LONDON, Federal Reserve, Nvidia, Nikkei, Nasdaq, Amazon, Apple, Reserve Bank of Australia, Bank of Canada, Fed, ECB, Bank of England, European Central Bank, Bank of, Sterling, Thomson Locations: Frankfurt, Germany, Europe, Swedish, Bank of Japan, London, Hong Kong
Dorsey accuses India of threatening Twitter
  + stars: | 2023-06-13 | by ( Reuters Editorial | ) www.reuters.com   time to read: 1 min
PoliticsDorsey accuses India of threatening TwitterPostedIndia threatened to shut down Twitter in the country unless it complied with orders to restrict accounts critical of the handling of farmer protests, its co-founder Jack Dorsey said, a charge Prime Minister Narendra Modi's government called a "lie." Fiona Jones has more.
Persons: Dorsey, Jack Dorsey, Narendra Modi's, Fiona Jones Organizations: Twitter
Last week, Google updated its hybrid three-day-a-week office policy to include badge tracking and noted attendance will be included in performance reviews. Additionally, employees who already received approval for remote work may now have that status reevaluated. Prior to the pandemic, Google was known for its vibrant campus life, replete with massage parlors, yoga classes, video games and free gourmet meals. But life changed, as did priorities, during the pandemic, when offices were closed and employees were forced to work from home. Staffers moved to different cities and got used to more flexibility and family time while taking advantage of Google's flexible remote work options.
Persons: Sundar Pichai, There's, Fiona Cicconi, Ryan Lamont, hasn't, Leonard Hofstadter, You've Organizations: Google, Shoreline, CNBC, YouTube Locations: Mountain View , California
Google told staff Wednesday its hybrid work policy is getting stricter. Google is getting stricter about in-office work, telling staff that the company will factor office attendance as part of their performance reviews, according to an email sent to staff on Wednesday, which was reviewed by Insider. But Cicconi said the new policy will make in-office attendance a factor when it comes to Googlers' performance reviews. Meta told employees last week that they will be expected in the office three days a week. Cicconi on Wednesday told staff that there was "no substitute for coming together in person."
Persons: Fiona Cicconi, Cicconi, Meta, We've, Knight Frank, Salesforce Organizations: Google, Employees, Morning, CNBC, Wednesday, Google Cloud
Google plans to crack down on employees who haven't been coming into its offices consistently, CNBC has found. Cicconi even asked already-approved remote workers to reconsider. "For those who are remote and who live near a Google office, we hope you'll consider switching to a hybrid work schedule. A separate internal document showed that already-approved remote workers may be subject to re-evaluation if the company determines "material changes in business need, role, team, structure or location." Going forward, Cicconi said, new fully remote work will only be granted "by exception only."
Persons: haven't, they're, Fiona Cicconi, Cicconi Organizations: CNBC, Google, Microsoft Locations: U.S, Jose
Prince Harry Puts Britain’s Press on Trial
  + stars: | 2023-06-06 | by ( Mark Landler | Megan Specia | ) www.nytimes.com   time to read: +1 min
To illustrate their case, Harry’s lawyers submitted 147 articles that it said were based on information obtained using illegal means. “Every facet of his life was splashed across the paper as an exclusive, a story too good not to publish,” Mr. Sherborne said. “The notion that this took place years ago is misplaced,” he said. Still, that is the nub of the case made by the Mirror Group’s lawyers. The practice of phone hacking has all but vanished since the scandal erupted in 2011, according to lawyers who specialize in these cases.
Persons: Princess Diana, Mr, Sherborne, , Harry, Nikki Sanderson, Michael Taylor, Fiona Wightman, Paul Whitehouse Organizations: The
CNN —Australia plans to triple the size of an ecologically important marine park and close off an area larger than Germany to fishing and mining, the government announced Monday, protecting millions of vulnerable seabirds and animals. The remote Macquarie Island Marine Park, located off Australia’s southeastern coast between Tasmania and Antarctica in the Southern Ocean, is set to expand to 475,465 square kilometers (about 184,000 square miles). The wind-swept World Heritage-listed Macquarie Island and its surrounding waters is a site of outstanding geological and natural significance. The plan to expand the marine park was released in February and Monday’s announcement comes after two months of public consultations with more than 14,700 submissions that were 99% in support, according to the government. Darren Kindleysides, chief executive of the Australian Marine Conservation Society, said sanctuaries are vital for marine wildlife, healthy ocean ecosystems and sustainable commercial fisheries.
Persons: Tanya Plibersek, , Fiona Maxwell, , Darren Kindleysides Organizations: CNN, Pew, Albanese Government, UNESCO, Heritage, Australian Marine Conservation Society Locations: Australia, Germany, Macquarie, Tasmania, Antarctica
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