FT News Briefing Monday, August 19
Aug 19, 2019
Madhumita Murgia, the FT's European technology correspondent, sheds light on the controversial rise of facial recognition software in London's surveillance landscape. She discusses its introduction in areas like King's Cross, emphasizing the ethical dilemmas surrounding privacy and consent. The conversation touches on the public's lack of awareness and the necessity for transparency from authorities, making listeners ponder the balance between security and civil liberties in an increasingly monitored world.
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EONIA Transition
- European financial institutions must accelerate their transition away from the EONIA interest rate benchmark.
- Millions of contracts require changes before the October switch to the new euro short-term rate.
Recession Fears Dismissed
- Larry Kudlow, White House economic advisor, dismisses recession fears, citing increased economic growth forecasts.
- He suggests further fiscal stimulus, including tax cuts funded by Chinese tariffs, despite the inverted yield curve.
Huawei Ban
- President Trump states he does not want to do business with Huawei due to national security concerns.
- This contradicts earlier reports of a potential 90-day license extension for companies to work with Huawei.