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European Edition
18th November 2025
 
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THE HOT STORY

UBS reaffirms Swiss base after reported US move discussions

Zurich-based lender UBS has said it wants to continue operating from Switzerland in response to a Financial Times report that bank chair Colm Kelleher and US Treasury Secretary Scott Bessent had privately discussed moving the bank's headquarters to the US if the Swiss government did not back down on incoming new capital rules. UBS has argued that the new requirements go further than those required of global peers and would reduce its ability to compete internationally. "As we have said repeatedly, we want to continue to operate successfully as a global bank out of Switzerland," UBS told Reuters.
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CYBERSECURITY

Stop Letting SIEM Slow You Down

Legacy SIEM is becoming a liability for UK risk leaders. Rising ingestion costs, patchy visibility, and mounting audit gaps now expose organisations to operational, financial, and regulatory risk. This guide shows how to break the cycle. It gives senior security and IT leaders a clear, structured framework to decide whether their current SIEM still justifies its cost and how to execute a migration without disruption. It drills into the true cost of renewing the wrong platform, the risks of vendor lock-in, and what modern SIEM capability should actually look like, from scalable pipelines to cross-environment integration. It also highlights the blind spots in many managed SIEM offerings that push noise instead of delivering outcomes. For CISOs and risk professionals under pressure to cut spend while improving response, this is a practical blueprint for transforming detection, proving impact, and regaining operational control.
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OPERATIONAL

UK cyber ransom ban risks collapse of essential services

The UK government has been warned that its plan to ban operators of critical national infrastructure from paying ransoms won't stop cyber attacks and could result in essential services collapsing.
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REGULATION

City regulator eyes stronger tech oversight

The UK's Financial Conduct Authority (FCA) is advocating for enhanced oversight of foreign tech firms that provide essential services to banks. Sarah Pritchard, the FCA's first deputy chief executive, pointed to the need for strong operational resilience and cyber controls, especially after recent outages affecting over 2,000 companies, including Lloyds Banking Group. Despite the FCA and Bank of England gaining regulatory powers in 2025, no tech firms have been designated as "critical third parties." Pritchard said: "We would like to see the system strengthen."
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LEGAL

Vinted faces French probe over alleged porn content

Vinted is facing an investigation in France amid claims that some accounts on the second-hand clothes platform are being used to promote pornographic content, the government's child protection commissioner has said. Meanwhile, Vinted is exploring a share sale that may value the company at approximately €8bn, allowing early investors to exit. According to the Financial Times, preliminary discussions indicate a transaction worth several hundred million euros could begin early next year. 

UK to ban ticket resale profits

The UK government plans to ban the resale of tickets above their original price to combat ticket touting. Analysis by the Competition and Markets Authority reveals that tickets currently sold on the resale market are typically marked up by more than 50%. According to the campaign Let's Stamp it Tout, touts cost fans approximately £145m annually.
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GEOPOLITICAL

Poland blames sabotage for blast on major railway line

Polish Prime Minister Donald Tusk has said an explosion on a railway line connecting the capital Warsaw to the southeastern city of Lublin was "an unprecedented act of sabotage." Tusk did not name any suspects or a potential motive for the alleged sabotage but did however note the line's importance in delivering aid to Ukraine. “The blowing up of the railway track on the Warsaw-Lublin route is an unprecedented act of sabotage aimed at the security of the Polish state and its citizens,” Tusk wrote on X on Monday. “As in previous cases of this type, we will catch the perpetrators, regardless of who commissioned them.”
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ECONOMY

A run on stablecoins could force ECB to rethink interest rates, warns top policymaker

Dutch central bank governor Olaf Sleijpen has told the Financial Times that the European Central Bank could be forced to adjust monetary policy if there was a run on stablecoins.
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FRAUD

New rules could shrink UK corporate register

New identification rules for directors and beneficial owners take effect in the UK from today. Companies House aims to combat financial crime by ensuring that individuals behind companies verify their identities. Over 1m people have already complied, with an estimated 7m more expected to follow suit in the next year. Graham Barrow, a corporate filings expert, said: "I expect daily new incorporations will fall off a cliff."
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INVESTMENT

Zurich Insurance invests $170m into APAC private debt

Zurich Insurance Group has chosen Australia as the first market for its private credit strategy in Asia-Pacific, awarding a $170m mandate to a local firm. Matt Vincent, the firm's APAC chief investment officer, noted that the investment represents about 3.4% of the $5bn allocated across general and life insurance in Australia. He cited favourable risk-based capital treatments and mid-market lending opportunities as key factors for the decision. Globally, Zurich has invested around $10bn in private debt, primarily in Europe and the US, while expressing interest in expanding its presence in Malaysia.
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STRATEGY

L’Oréal takes stake in Chinese skincare brand Lan

L’Oréal has taken a minority stake in Chinese skincare brand Lan, its second recent investment in China, following a 442m yuan (£49m) purchase of a 6.67% stake in Chando. The company said the move underscores China’s strategic importance amid rising competition from local “C-beauty” brands. "We firmly believe investing in China is investing in the future, and we will continue to cultivate the Chinese market, work with more Chinese brands to create a beautiful future and meet the expectations of sophisticated Chinese consumers", added L'Oreal North Asia President and China chief executive Vincent Boinay.

Swiss chemicals group Clariant warns of more production leaving Europe

Clariant CEO Conrad Keijzer has said the company would expand capacity in China and warned of “more production shifting away from Europe” because of the continent’s higher energy and labour costs.

Renault and Nissan in talks over reviving alliance after leadership changes

Renault and Nissan are talking about reviving their alliance. Recent leadership changes at both companies and a financial crisis at the Japanese group have precipitated a review of the partnership.
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SUPPLY CHAIN

Tesla phases out China-made parts

Tesla is requiring suppliers to eliminate China-made components in its US-built vehicles, responding to escalating US-China trade tensions and new tariffs under President Trump. Tesla has already replaced some parts and aims to phase out all Chinese components within two years. “But it will take time,” CFO Vaibhav Taneja said, noting efforts to build US-based battery production. Supply disruptions - like China’s export curbs on semiconductors and rare earths - have pressured Tesla to diversify. While Tesla uses local parts for China-made cars, it’s shifting global suppliers to Mexico and Southeast Asia for US models to reduce geopolitical risks and preserve tax credit eligibility.
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