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EU regulators ‌have hit out at Apple for blaming the Digital Markets Act (DMA) for its decision not to launch its upgraded assistant Siri AI in the region for now, saying they had rejected the company's request for an 18-month exemption from the act's obligations. "The decision not to roll out Siri AI in the EU is Apple's and Apple's only," spokesperson Thomas Regnier said, observing there was nothing in the DMA to stop the company from introducing new products in the EU. "Apple was simply unable to develop interoperability solutions that meet essential EU ​privacy and security standards," Regnier said. "In essence, [the] commission [is] asking us to conduct a very risky experiment on many, ​many, many tens of millions of users," said Greg Joswiak, Apple's marketing chief, "and we only want to ship these capabilities when we ‌can ⁠do so safely."

 

Reuters

A report from cybersecurity firm CrowdStrike says China-linked hackers presented the biggest espionage threat to technology companies over the past year, observing that such hacking ​campaigns align with Beijing’s strategic priorities and a sustained interest in technology ‌development, intellectual property, and information with strategic and economic value. Meanwhile, the report said North Korean hacking campaigns have “posed a major threat” in the past year, and Russia and Iran-linked hacking groups also heavily target other countries’ technology sectors for intelligence ⁠collection ​and destructive malware attacks.

 

Reuters

Microsoft is limiting employees' use of Anthropic's Claude Fable 5 because of the AI startup's new data retention requirements. All other Claude models are still available internally at Microsoft, because they operate under Zero Data Retention (ZDR) rules. It is not ​yet clear whether Microsoft's legal teams will clear Claude ​Fable 5 for internal use, The Verge reports.

 

The Verge

President Trump’s Office of the US Trade Representative (USTR) is proposing new tariffs of up to 12.5% on 59 countries and the European Union based on an investigation into forced labour under Section 301 of the Trade Act of 1974. The USTR claims there has been widespread failure to restrict the importation of goods produced by forced labour, a practice that affects an estimated 27.6 million men, women, and children victims of the practice daily, and which generates $236bn in illegal profits annually. Legal experts say the unilateral imposition of tariffs against 60 economies at once is unprecedented, and CNBC reports that trade and labour authorities say the USTR's investigation was executed in short order, and is likely to meet significant legal challenges - including that the US has itself struggled like most countries to crack down on the pervasive issue.

 

CNBC

A Finnish court has sentenced Jukka Kristo, the former chief executive of berry company Polarica, to 2½ years in prison for trafficking Thai workers to pick fruit. The Lapland District Court found Kristo guilty on 78 counts of human trafficking, observing that he misled workers about earnings and conditions. His associate, Kalyakorn Phongphit, received a nine-month sentence. Due to high travel and daily living costs, the workers were in debt to the company when they arrived in Finland in 2022 and “ended up with hardly any income” despite working long days without any days off, the court ruling said. The defendants plan to appeal.

 

Straits Times

The UK's Financial Conduct Authority (FCA) has successfully shuttered Euro Exchange Securities after the High Court approved the appointment of administrators. The regulator had ordered the payments firm to stop trading on June 4 due to serious concerns over financial crime risks, including potential money laundering. The court has now confirmed that special administrators from Teneo Financial Advisory will be put in place to manage the business, secure assets, and prioritise returning client funds as quickly as possible.

 

Reuters

BASF has called for a significant reform of the European Union's Emissions Trade System (ETS), citing concerns that its stringent conditions could harm industries. Chief executive Markus Kamieth noted that the current framework is too rigid, potentially leading to job losses and reduced value creation. The EU plans to review the ETS later this year amid rising criticism from member states and businesses. Kamieth emphasised the need for flexibility in the system, especially as energy costs rise due to the Iran war, which may exacerbate supply chain issues.

 

France 24

The UK's Financial Reporting Council (FRC) is investigating accountants and auditing firms linked to the collapse of Market Financial Solutions (MFS). The lender's failure in February left creditors, including major banks, facing losses exceeding £1.3bn and came amid allegations of financial irregularities and mismanagement. The FRC is probing three firms - Magus Chartered Accountants, Berkeley Finch, and Silver Levene - along with three individual accountants associated with MFS and its related companies. 

 

Financial Times

The Daily Telegraph

The Times

Ben Cohen, co-founder of Ben & Jerry’s, has accused new owner Magnum Ice Cream Company of undermining the ice cream brand’s future by restricting its ability to criticise President Donald Trump and speak freely on social issues. Mr Cohen said limiting the company’s long-standing social activism risks damaging the brand’s identity. Magnum rejected the claims, saying that Ben & Jerry’s continues to speak out on issues including immigration, free speech and democratic processes. The dispute follows ongoing tensions between Ben & Jerry’s independent board and its parent company, with Cohen claiming a campaign to separate the brand from Magnum has attracted support from more than 130,000 people.

 

Bloomberg

The European Central Bank has raised interest rates by a quarter point to 2.25% - the first G7 central bank to increase borrowing costs in response to the Middle East energy shock.

 

Financial Times

Toyota and Jaguar Land Rover have warned that “Made in Europe” manufacturing targets threaten investment and jobs, making cars produced in Europe even more expensive than Chinese vehicles.

 

Financial Times

Finland's Social Democrats have passed new legislation to safeguard the rights of often “invisible” AI workers, including data annotators, AI trainers and content moderators. The resolution, adopted in May, highlights the reliance on a largely outsourced workforce in the Global South. Many of these workers face low wages, exposure to harmful content, and lack formal recognition. According to the resolution: “Without their labour, AI would not exist. The Copilot, ChatGPT and equivalent systems used in Finnish workplaces would not function. Yet the work of these coal miners of the 21st century remains invisible.” 

 

IceNews