Risk Channel delivers the latest, most relevant and useful business intelligence to key decision makers and influencers, each weekday morning.

The European Commission has fined X €120m for breaching its transparency obligations under the Digital Services Act (DSA). The breaches include the deceptive design of its ‘blue checkmark', the lack of transparency of its advertising repository, and the failure to provide access to public data for researchers. "Deceiving users with blue checkmarks, obscuring information on ads and shutting out researchers have no place online in the EU. The DSA protects users. The DSA gives researchers the way to uncover potential threats. The DSA restores trust in the online environment. With the DSA’s first non-compliance decision, we are holding X responsible for undermining users’ rights and evading accountability," Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy, said.

 

European Commission

Sky News

BBC News

The Guardian

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David Lammy, the UK's Justice Secretary, is set to announce a new anti-corruption strategy aimed at combating illicit finance and bribery in public services. The plan includes £15m in funding for the City of London police's domestic corruption unit and a global summit on countering illicit finance. The strategy also seeks to enhance transparency in political donations and contracts, while addressing the role of professional enablers in facilitating corruption. Mr Lammy said: "We must root out the minority who help corrupt actors hide their dirty money."

 

Daily Mirror

The Guardian

Amazon has paid €180m ($210m) to Italian authorities and ended the use of a delivery staff monitoring system, closing a probe into alleged tax fraud and labour violations by its logistics unit. The investigation centred on the use of subcontractors to sidestep VAT and social security obligations. Amazon joins over 30 companies that have collectively paid more than €1bn to resolve similar cases.

 

Bloomberg Tax

Reuters

Multiple Italian fashion houses, including Gucci, Prada, and Versace, have been asked to provide governance and supply chain documents in a police probe into labour abuses at subcontractors. Authorities are investigating potential links to worker exploitation uncovered in Chinese-owned workshops, though none of the 13 brands involved is currently under investigation. The move is part of a broader effort by Italian prosecutors to clean up the luxury supply chain and support government plans for legal certification of ‘Made in Italy’ goods. 

 

Reuters

South China Morning Post

The European Commission, European Parliament and EU Council representing member states have reached a preliminary deal to delay the EU’s Deforestation Regulation by one year. The EU regulation, known as EUDR, aims to tackle the felling of trees associated with imports into the bloc of key commodities including soybeans, coffee, cocoa and palm oil.

 

Bloomberg

The EU plans to extend its ban on new petrol and diesel cars from 2035 to 2040, a move that may force the UK to reconsider its own net-zero targets. Tim Tozer, UK chairman of Allianz Partners, said: "I have it on good authority that the EU is going to add five years onto the current 2035." The shift comes amid pressure from Germany's Chancellor Friedrich Merz for more flexible CO2 regulations.

 

Sunday Times

UK regulators have announced measures to enhance the mutuals sector, which includes building societies and credit unions. The Bank of England and the Financial Conduct Authority (FCA) aim to simplify application processes and review regulations. Economic Secretary Lucy Rigby said: "Mutuals form an important part of the UK's financial landscape." Currently, 30m Britons are members of this sector, which manages £223bn in assets. The FCA's new Mutual Societies Development Unit will provide support, making it easier for new mutuals to establish and existing ones to reduce costs.

 

City AM

The Guardian

Daily Mail

The Lloyd's of London insurance market faces a deepening crisis as a misconduct investigation expands. Freshfields, the firm conducting the governance review, is examining allegations that former boss John Neal engaged in an affair with communications director Rebekah Clement. The Council of Lloyd's has allowed Freshfields to pursue evidence that may implicate other employees. Sheila Cameron, CEO of the Lloyd's Market Association, stressed the need for transparency, saying: "This is so we can all learn lessons for both Lloyd's and our own organisations across the market in the future." The inquiry began in October amid speculation of policy breaches.

 

Sunday Times

UK Finance chief executive, David Postings, has issued a stark warning to major tech platforms about the rising tide of financial crime. Speaking at the Economic Crime Congress 2025, he highlighted that over 40% of all crime in the UK is now fraud, with criminals stealing £629.3m in the first half of 2025. "The fight against economic crime is a team effort," Postings said. "Industry, government, regulators, civil society and law enforcement all have a role. But some sectors are simply not pulling their weight."

 

City AM

Ocado Group will receive a $350m compensation payment from Kroger after the US grocer cancelled plans for an additional robotic warehouse and halted the opening of another site in Charlotte, North Carolina. The move follows Kroger’s decision last month to close three Ocado-powered facilities that "had not met financial expectations," raising concerns over the viability of Ocado’s US expansion strategy. Only eight of the 20 automated warehouses originally envisaged under the 2018 partnership have opened, as Kroger shifts more online fulfilment to in-store operations and works with delivery platforms such as DoorDash. Ocado said it remains committed to supporting Kroger and sees ongoing opportunities in the US, despite the setback.

 

Financial Times

The Daily Telegraph

The Times

London Evening Standard

Production at Stellantis’ French factories is set to drop over the next three years, as the maker of Peugeot, Fiat and Jeep vehicles suffers a sharper manufacturing slowdown than European rivals.

 

Financial Times

The European Union has finalised a deal to accelerate the phase-out of Russian gas imports by 2027, marking a significant step towards ending its reliance on Russia as an energy supplier. Following the invasion of Ukraine, the EU has been increasingly shifting towards alternative sources, including the US and the Middle East, although Russian gas still comprised about 20% of total imports as of late 2025. The agreement reflects Europe's intensified efforts to secure energy independence and stability in the wake of geopolitical tensions.

 

Bloomberg

China has said it is issuing general licences for exports of rare earths. Beijing last month agreed to begin issuing general licences for exports of rare earths and related magnets as part of a trade war truce agreement with the US. "China has been actively making use of general licenses and other facilitation measures to promote compliant trade in dual-use items," state news outlet Xinhua reported. "As long as export license applications for rare earth-related items are for civilian use, the government has given timely approval," Commerce Ministry spokesman He Yadong said at a weekly briefing.

 

China Daily

Financial Times

Reuters

Data centres and green grids are heavy users of copper, but the world’s biggest mines are ageing and new discoveries are rare, the Financial Times reports.

 

Financial Times

October retail sales volumes in the Eurozone were flat on the month, following a revised 0.1% rise in September and falling short of economists’ 0.1% growth forecast. Eurostat said that Germany and France saw declines, while Spain remained unchanged. Despite consumer confidence reaching its highest level since February, economic uncertainty, high interest rates, and geopolitical tensions have kept spending subdued.

 

Wall Street Journal

HSBC has told staff not to wear Christmas jumpers due to a need to maintain a sense of professionalism and sensitivity to customers who may be dealing with difficult circumstances. A HSBC spokesman said: "We are encouraging colleagues to celebrate Christmas in branches in lots of different ways, including decorating branches, team celebrations and festive lunches. However, it’s important to also remember that branches are spaces where customers receive a range of specialist services that require professionalism and sensitivity."

 

The Daily Telegraph