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US tech giants including Alphabet's Google, Meta Platforms, Microsoft and Amazon will not face heavy-handed regulations in Europe's forthcoming rule revamp known as the Digital Networks Act, which aims to boost the region's competitiveness and investments in telecoms infrastructure, sources say. "They will be asked to cooperate and discuss voluntarily, moderated by EU telecoms regulators' group BEREC. There will be no new obligations. It will be a best practices regime," one of the people said. EU tech chief Henna Virkkunen will present the rule overhaul on January 20.

 

Reuters

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A World Economic Forum survey says companies found it more difficult to do business in 2025 amid a deterioration in global cooperation on issues including trade, climate, technology and security. Nearly four in ten of the 799 executives in 81 economies indicated growing barriers to trade, talent and cross-border capital flows had made it harder to do business. Only 10% of respondents took the opposite point of view. "Undeniably, a series of U.S. tariff announcements in 2025 raised questions about the future of trade," said the WEF in its Global Cooperation Barometer 2026 report, nevertheless observing that the fact that six out of ten executives did not highlight trade problems indicated that many had found ways to readjust.

 

Reuters

World Economic Forum

The Sunday Times reports on the battle for control of the risk consulting market, which is said to have grown from $52bn to $160bn between 2020 and 2025. There are questions about whether the Big Four can maintain their hold on the market after decades of dominance as competitors create specialist geopolitics arms which feature former insiders and senior politicians. "The Big Four are accountants at heart," explains James O'Dowd, founder of Patrick Morgan, an executive search firm for professional services. "Geopolitical risk needs multifaceted teams - international relations, foreign policy, sector specialists." Big Four pay packages also tend to be lower than the remuneration on offer at the likes of McKinsey and BCG.

 

Sunday Times

Daniil Kasatkin, a Russian basketball player, has been released from custody in France and returned to Moscow. He was arrested on June 21 at a Paris airport under a US extradition request, accused of involvement in a ransomware hacking network. Kasatkin denied the allegations, with his lawyer, Frederic Belot, asserting that he lacked computer skills and had been a victim of cybercriminals. His release follows discussions between Russia and France regarding another case involving a French researcher sentenced in Russia.

 

U.S. News

About 17.5m Instagram users have had their personal information exposed in a data breach. Cybersecurity researchers at Malwarebytes discovered the leak, which was later confirmed on dark web forums. The compromised data includes full names, email addresses, phone numbers, and user IDs. Experts warn the breach has led to a surge in password reset attacks, with users receiving unsolicited emails. Davey Winder, a cybersecurity expert, noted the connection between the data leak and the increase in password reset notifications. Instagram advises users to enable two-factor authentication and remain vigilant against phishing attempts.

 

Daily Mail

The managing director of Energy Transition Minerals, an Australian miner with a rare earth project in Greenland, has said resource security is increasingly driving prices. “Supply chains for critical minerals like rare earths are now not just priced based on cost, but more importantly on security of supply,” Daniel Mamadou told Bloomberg Television. “What the West is realising, and taking steps towards now, is the fact that tough projects need to be funded,” Mamadou said.

 

Mining

The Competition Commission of India (CCI), India's antitrust watchdog, has told a court that a 2024 law used to calculate fines on the basis of a company's global turnover will discourage breaches by multinationals. In November, Apple asked judges in New Delhi to strike down the law, which could also have implications for other foreign companies facing antitrust scrutiny, including Pernod Ricard, Publicis and Amazon. The law "aligns Indian competition law enforcement with established international practice," the CCI said, adding "This approach ensures that penalties retain real deterrent value in complex, digital and cross-border markets, rather than becoming nominal or easily absorbable for large multinational players." 

 

Economic Times

Reuters

Business Standard

Brussels is pressing ahead with plans for a supranational legal regime for EU companies. Critics fear creating businesses with a special rule book outside national law will dilute worker rights.

 

Financial Times

Top UK accounting firms want the Financial Reporting Council to end the practice of routinely “naming and shaming” companies under investigation, after the Financial Conduct Authority ditched similar plans following pushback.

 

Financial Times

Brussels is insisting on a termination clause in any deal between the UK and the EU on veterinary checks to insure against the risk of a Reform UK government reversing the agreement. Dubbed the "Farage clause" by diplomats, London would be required to pay a high level of restitution if it chose to exit. Both Reform and the Conservatives have promised to revoke any such deal, with Farage telling the Financial Times: "No parliament may bind its successor, we will not honour any clause. If Starmer signs this, it is a democratic outrage." But EU officials insist the measure is standard in international trade agreements, with one diplomat saying: "The EU wants an agreement long-term and not only until 2029, should a change happen at the next election."

 

Financial Times

Daily Mail

The Guardian

The Times

Consumers across the Eurozone expect inflation to gradually decline towards the European Central Bank’s 2% target over the next five years, according to a November survey showing price growth expectations at 2.8% in one year, 2.5% in three years, and 2.2% in five years. Despite this optimism on inflation, consumers remain gloomy about the economy, forecasting a 1.3% contraction over the next year, compared with a 1.1% decline expected in October.

 

Reuters

Rio Tinto and Glencore have restarted merger talks that could result in the formation of the world’s largest mining company, valued at over $200bn, as the global rush for copper fuels a wave of industry consolidation. The proposed all-share deal - under UK takeover rules - would give Rio Tinto access to Glencore’s vast copper portfolio amid surging demand for the metal driven by AI infrastructure, EVs, and clean energy. A decision must be made by 5 February on whether to proceed with an offer. 

 

Bloomberg

CNBC

Wall Street Journal

The CGT labour union at LVMH is calling a strike next Thursday to demand compensation for lost bonuses. Representatives from Moet&Chandon and Veuve Clicquot urged workers to stop tasks for "at least three hours." LVMH management offered a one-off payment of €1,000 but the union deemed it insufficient. The CGT emphasized the need to pressure the company and announced further talks for Wednesday. No strike action has been reported at LVMH's other drinks businesses, including Hennessy.

 

Reuters

Nestlé’s global recall of infant formula products could cost the company up to SFr1.2bn ($1.5bn) in lost sales and risk reputational damage to its brands, according to an analysis by Jefferies. Last week, the Swiss firm announced a recall of batches of infant formula brands, including NAN, BEBA, Guigoz, SMA, and Alfamino, over a possible contamination with cereulide, a toxin that can cause nausea and vomiting.

 

Bloomberg

Financial Times

United Nations Secretary-General Antonio Guterres says the United States has a “legal obligation” to keep paying its dues that fund UN agencies after the Trump administration said it will withdraw from dozens of international organisations operated by the world body, including the UN's population agency and the UN treaty that establishes international climate negotiations. “As we have consistently underscored, assessed contributions to the United Nations regular budget and peacekeeping budget, as approved by the General Assembly, are a legal obligation under the UN Charter for all Member States, including the United States,” Stephane Dujarric, a spokesperson for Guterres, said in a statement.

 

AP News