Markets in turmoil as US-China trade dispute simmers
China introduced its own punitive tariffs on $60bn worth of US imports in response to Washington’s decision to increase levies on $200bn worth of Chinese goods, reported the AFP and BBC. China could potentially slap import restrictions on the US aerospace and financial sectors, a former top Chinese government official told the South China Morning Post. US stocks recorded a sharp drop, said the Financial Times, as did shares across Asia, said Reuters. The yuan dropped against the dollar and yen, noted Marketwatch. Donald Trump said that he would meet Xi Jinping, the Chinese president, during the G20 summit next month, per CNN and Reuters.
Uber & Lyft shares drop
Shares in the ride hailing firm Uber were down 10% in its second day of trading. Shares in Lyft, a rival, have slide by around a third since its IPO in March. Reported by the BBC, Financial Times and Reuters.
IPhone users can proceed with unfair competition suit against Apple: US top court
The US Supreme Court ruled that Apple users can sue the firm over the 30% commission it charges developers on sales in its App Store. The customers allege Apple is abusing its monopolistic position. Apple said: “We’re confident we will prevail when the facts are presented and that the App Store is not a monopoly by any metric.” Reported by CNBC, the Financial Times and the Register.
Download patch, says Whatsapp
Whatsapp, the messaging app owned by Facebook, advised users to upgrade to its latest version after finding a vulnerability that allowed spyware to be installed even if the user did not answer a call. First reported by the Financial Times; also reported by the Guardian and the Register.
Caribbean islands to come off EU tax haven blacklist
EU finance ministers are expected to take the British overseas territory of Bermuda and the Dutch overseas territories of Aruba and Barbados off the bloc’s list of offshore tax havens, according to Bloomberg and Reuters.
EU warns Romania on rule of law
The European Commission threatened to take legal action against Romania if Bucharest does not reverse the loosening of anti-corruption laws, per the Financial Times, Irish Times and Reuters.
German police find 2 dead women in crossbow case
Two bodies have been found by police in northern Germany who were investigating the deaths of three people, in Bavaria, shot by crossbows. Reported by the BBC, Deutsche Welle and Guardian.
Later today
Conference: Four MEP candidates speak at cybersecurity at the Cybersecurity Competence Center. Earnings: French energy firms EDF and Engie.
Looking ahead
Wednesday 15 May: ING Luxembourg releases financial results. Wednesday 15-Sunday 19 May: Expovin, a wine, beer and spirits festival, is on at Luxexpo.
Doris Day
The actress and singer Doris Day, who cultivated a “wholesome girl next door” image, died at the age of 97, reported by the Associated Press, Guardian and Variety.
Four day workweek down under
An Australian digital marketing agency is closed on Wednesdays, but staff are still paid for a five day work week, reported the BBC. Productivity and employee satisfaction are up; sick days are down. A New Zealand estate planning advisory firm also notched up success with a four day work week last year.
How to get more efficient at the office
The Economist’s 1843 magazine has six productivity-boosting rules for work.
Today’s breakfast briefing was written by Aaron Grunwald