eu

Consumer Spending on the Rebound

Consumer spending as a whole is set to rebound strongly post Covid19. However, the recovery is likely to be uneven with high-income households with members who could work remotely being in a better position to spend. Low-income households will likely not return to 2019 spending levels by 2024, especially US families that have lost jobs […]

Facebook’s Libra faces anti-trust review by EU watchdogs

Competition watchdogs at the European Commission have begun probing potential anti-trust issues relating to Facebook’s digital currency project Libra. The European Commission is “currently investigating potential anti-competitive behavior” related to the Libra Association amid concerns the proposed payment system would unfairly shut out rivals, the EU authority said in a questionnaire seen by Bloomberg and […]

Klarna becomes most valuable EU fintech with $5.5bn valuation

  Klarna has become the largest private fintech start-up in Europe after a new funding round valued the Swedish payments group at $5.5bn ahead of a potential stock market flotation. The Swedish “buy now and pay later” company raised $460m in equity from investors including Silicon Valley venture capital company Dragoneer, the Commonwealth Bank of […]

Microsoft office violated GDPR rules

“Microsoft systematically collects data on a large scale about the individual use of Word, Excel, PowerPoint and Outlook. Covertly, without informing people,” said in a blog post written by Privacy Company summarizing its report. Privacy Company was hired by the Netherlands government to probe the use of Office in the public sector. “Microsoft systematically collects […]