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ExxonMobil CEO Darren Woods says the U.S. energy giant will not be able to continue operations in the European Union if the bloc does not revise the Corporate Sustainability Due Diligence Directive, a sustainability law that could impose fines of 5% of global revenue. The law mandates companies doing business in the EU to identify and address human rights and environmental risks throughout their supply chains. "If we can't be a successful company in Europe, and more importantly, if they start to try to take their harmful legislation and enforce that all around the world where we do business, it becomes impossible to stay there," Woods said.

 

Reuters

Google DeepMind, Anthropic and Microsoft are trying to prevent ‘indirect prompt injection attacks,’ a critical security flaw in their large language models that can be exploited by cyber criminals.

 

Financial Times

The UK's Competition and Markets Authority (CMA) is intensifying its investigation into Getty Images' proposed $3.7bn acquisition of Shutterstock. The CMA's preliminary inquiry raised concerns about potential price increases and reduced quality in the visual content market. Getty expressed disappointment but says it remains committed to the merger, and will work with regulators. The CMA noted that initial remedies proposed by Getty and Shutterstock did not fully address its concerns. The CMA has until April 16 to make a final decision, which could include blocking the deal or imposing conditions.

 

AP News

Bloomberg

Reuters

The European Commission is drawing up plans to expand central supervision over key financial markets infrastructure, including stock exchanges, crypto exchanges and clearing houses in an effort to eliminate fragmentation.

 

Financial Times

AstraZeneca has received overwhelming shareholder support for its plan to list directly on the New York Stock Exchange, with 99% voting in favour. The decision, representing nearly 80% of issued share capital, marks a significant shift towards the US market, where the company generates almost half of its revenue. AstraZeneca plans to retain its primary listing in London and maintain its UK headquarters. However, the move could cost the UK Treasury £200m a year from lost stamp duty on transactions in London. The Guardian’s Nils Pratley warns it would only take a few more large companies to follow suit for the UK’s £3bn receipts from stamp duty on shares to collapse.

 

Financial Times

The Guardian

The London stock exchange debut of tinned food group Princes has had a lukewarm reception despite the UK business secretary hailing it as a sign of a stock market revival.

 

Financial Times

London is establishing itself as a centre for quantitative finance. A number of trading firms and investors based in the UK capital have become multibillion-dollar forces in the market.

 

Financial Times

Per Franzén, chief executive of Sweden’s EQT, has told the Financial Times that 80% of all private capital groups could be zombie firms - only managing existing investments - within the next decade.

 

Financial Times

Nexperia has welcomed recent government statements from both the US and China aimed at lifting barriers on shipping its chips, while emphasizing its commitment to stabilising supply for customers. The Dutch chipmaker, which has faced control disputes that raised alarm among automakers, refrained from commenting on its Chinese subsidiary’s initiative to pursue independence. The Dutch government continues to engage with international stakeholders to find a constructive resolution for Nexperia amid ongoing concerns over chip shortages.

 

Reuters

Make UK warns that Britain faces a significant risk of de-industrialisation due to potential tax increases and high energy costs. The organisation, which represents manufacturers, said that the upcoming budget must focus on growth. Chief Executive Stephen Phipson highlighted the dual challenges of weak demand and rising costs, calling energy prices an "existential threat." A recent survey revealed that over two-thirds of manufacturers expect tax hikes, with many already passing increased costs onto customers. Phipson urged the government to take decisive action rather than delaying solutions.

 

The Times

Novo Nordisk's restructuring plan, which includes 9,000 job cuts, is nearing completion, with the company informing employees in most locations about the layoffs, as per CEO Mike Doustdar’s LinkedIn update. The decision follows increased competition from rivals including Eli Lilly in the United States, prompting the pharmaceutical giant to adapt its workforce. Doustdar noted that the pace of notifications varies according to local laws, reflecting the complexities of implementing such widespread changes.

 

Reuters

Unions have reached a framework agreement with KLM for a new collective labour agreement for ground personnel. The agreement follows mediation following strikes at Schiphol and multiple court cases that led to flight cancellations. If approved by members, the deal will raise wages by 3.25% over two years, surpassing a previous 2.25% agreement. Employees will receive €750 in net payments, and the early retirement scheme will be expanded. "We are pleased that we have reached a CLA with all five trade unions. In KLM's current financial reality, we have come together to make solid agreements on remuneration, career development, productivity, and flexibility," said KLM's Chief HR Officer Miriam Kartman in a statement.

 

NL Times

Reuters

The UK's Sheffield Hallam University halted research on supply chains and forced labour in China after pressure from Chinese authorities. Professor Laura Murphy's work, which focuses on the oppressed Uyghur minority, was previously deemed groundbreaking. The university cited safety concerns and legal risks as reasons for the ban, which lasted eight months. Murphy expressed confusion and concern over the university's commitment to academic freedom. In October, the university lifted the ban and apologised, but Murphy said: "I'm unclear at this point whether the university is prepared to be as supportive as it used to be."

 

The Daily Telegraph

The Guardian

Moody's Ratings predicts that Hurricane Melissa's devastating impact on Jamaica will lead to economic losses significantly surpassing insured losses. The Category 5 storm, which struck with winds of 185 mph, caused extensive damage and infrastructure collapse. Only about 20% of local residential properties are insured, with 95% of those underinsured, leaving most financial burdens on uninsured households. Moody's said: "We expect that the economic losses will be multiples of the insured losses."

 

Insurance Business Magazine America

New permanent migration to OECD countries fell by 4% in 2024, following three years of significant increases. Despite the drop, the total of 6.2 million new permanent immigrants remains relatively high, at 15% above 2019 levels, according to a new OECD report. The International Migration Outlook 2025 shows that, from 2023 to 2024, permanent migration declined by 56% in New Zealand and 41% in the United Kingdom, and by more than 10% also in Estonia, Finland, Germany, Hungary, Iceland, Israel, Italy, Korea, Lithuania, Norway, Slovenia, the Slovak Republic and Sweden. In contrast, in 2024, permanent migration increased by 20% in the United States, driven by humanitarian flows. Increases of more than 5% were also registered in Chile, Colombia, Costa Rica, Czechia, Ireland and Japan.

 

Euronews.com

Financial Times

OECD