FT News Briefing Tuesday, June 11
Jun 11, 2019
Europe's banking watchdog struggles to combat dirty money while the U.S. faces stalled data privacy talks. Nissan's CEO seeks harmony with Renault amidst these challenges. Meanwhile, unprecedented rainfall wreaks havoc on U.S. farming, delaying corn and soybean planting in the Midwest. Farmers are turning to technology and government support to adapt to these rapidly changing conditions. Experts discuss how these weather patterns tie into larger climate change trends, painting a picture of an uncertain agricultural future.
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EBA's Limited Powers
- Europe's banking watchdog, the EBA, has new powers to combat dirty money.
- These powers are insufficient, focusing on coordination rather than ensuring uniform defenses against money laundering.
US Data Privacy Law Stalled
- Talks on a national data privacy law in the US have stalled due to disagreements on its strictness.
- The tech industry wants a federal law to preempt California's stricter law, effective January 1, 2020.
Nissan-Renault Truce
- Nissan's CEO, Hiroto Saikawa, seeks to mend the relationship with Renault.
- Their 20-year alliance has been strained after the Carlos Ghosn arrest and failed Fiat Chrysler merger talks.