THE HOT STORY

JP Morgan moves some Paris workers back to London

JP Morgan is relocating workers from its Paris office back to London as the bank rethinks its European operations. A spokesperson for the bank nevertheless told Bloomberg that it was "committed to our sizeable operations on the Continent for the long term." JP Morgan has more than 1,000 staff working in Paris - a figure that has quadrupled since Brexit. It is not clear how many will be moving back to London.

The Daily Telegraph

DIVERSITY, EQUITY, & INCLUSION

Half of EU banks bereft of female executives

Almost half of EU banks and investment firms have no women executive directors, according to the European Banking Authority, which said many were failing to meet rules on gender diversity.

Financial Times

WORKFORCE

Unemployment rises in Sweden and Finland

The unemployment rate grew last month in Sweden and Finland as a weaker global outlook undermined the recovery in two of the European Union’s worst-performing labour markets. Sweden's seasonally adjusted joblessness rate increased in March to a five-month high of 9.2%, and Finland's headline unemployment rate rose to 11.1%, the highest reading since May 2015, according to its statistics office.

Bloomberg

CYBERSECURITY

Data breach exposes 300,000 Interrail passengers

More than 300,000 Interrail passengers have had their personal data compromised in a security breach of Eurail BV's systems. The leaked information includes passport numbers, contact details, and health information, which is now being sold on the dark web. Eurail has completed its investigation and is notifying affected customers, saying it does not store bank or credit card details. Eurail urges customers to stay alert for suspicious communications and to monitor their bank accounts.

The Independent UK

ECONOMY

ECB set to hold rates steady

The European Central Bank (ECB) is expected to maintain its interest rates at 2% this week, amid rising inflation concerns linked to the ongoing Middle East conflict. Inflation in the eurozone reached 2.6% in March, surpassing the ECB's target. ING economist Carsten Brzeski said the ECB's belief before the conflict - that it was in a "good place" on rates - was "no more," observing "The bank is back in crisis mode, shifting its focus from longer-term projections to actual developments and back to a 'driving at sight' approach."

France 24

China warns EU over proposed ‘Made in Europe’ law

China has warned the EU that it will take “countermeasures” if its companies are hurt by a proposed new European law aimed at bolstering the bloc’s industry against cheaper imports.

Financial Times

INTERNATIONAL

Amazon tests ‘builder’ titles to streamline organisation

Amazon is trialling a restructuring of job titles within its Ring and Blink divisions, replacing traditional roles such as product managers with simplified titles like “builder” and “builder lead” as part of a broader effort to reduce bureaucracy and promote a more agile, innovation-focused culture. The initiative, led by senior management, aims to shift emphasis away from hierarchy and towards the scale of customer value created, aligning with a wider push across Silicon Valley to empower individuals - often supported by artificial intelligence tools - to take on broader responsibilities. However, the move has raised concerns among employees that removing established titles such as “senior” or “lead” could make career progression, pay increases and role differentiation less transparent, despite Amazon maintaining that compensation structures and promotion pathways will remain unchanged.

Reuters

Unemployment spikes for key Chinese age group

China's labour market is facing significant challenges, particularly for early-career workers aged 25 to 29, with unemployment for this group increasing to 7.7% in March. The increase is attributed to factors including the ongoing conflict in Iran and the growing impact of artificial intelligence (AI) on job displacement. “The uncertainties on costs brought by the Iran war might have disturbed hiring plans and led to a worsening of labour market indicators in March, after they showed some improvements in earlier months,” observed Ernan Cui, a consumer analyst at the research firm Gavekal Dragonomics.

Business Times SG

Former Samsung manager sentenced to more than six years in prison

The Korean High Court has sentenced a former Samsung Electronics engineer to more than six years in prison for leaking sensitive technology to leading chipmaker ChangXin Memory Technologies. Bloomberg notes that the ruling follows a decision by the Supreme Court earlier this year that significantly expanded criminal liabilities in industrial espionage cases in a bid to help maintain Korea’s competitiveness in semiconductors.

Bloomberg

Law firms push staff to return to UAE offices as ceasefire holds

A return-to-office push by Gulf law firms has caused frustration among some lawyers who relocated to other countries at the start of the Iran conflict and face high costs to return.

Financial Times

OTHER

Adidas gains spotlight as record-breaking marathon runners wear new shoe

Adidas received a high-profile boost after two athletes broke the two-hour marathon barrier at the London Marathon wearing the company's newly launched Adizero Adios Pro Evo 3 shoe. Sabastian Sawe set a world record time of 1:59:30 and Yomif Kejelcha finished just seconds behind. The performances highlight the impact of Adidas’s latest ultra-light racing technology and support its strategy to strengthen its running category, a fast-growing segment within the global sportswear market, as the company looks to drive performance-led growth despite broader industry pressures.

US News and World Report

Bloomberg

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