Personal data of 500m Facebook users leaked
Names, phone numbers, e-mail addresses and other information of 533m Facebook users from 106 countries, including around 188,000 accounts from Luxembourg, has been posted on a hacking forum. The data was scraped prior to Facebook fixing a systems vulnerability in 2019 but has now been made available online for anyone with minimal hacking skills. Alon Gal, chief technology officer of cybercrime firm Hudson Rock, discovered the trough of data over the weekend. Sources: Business Insider, Independent, CNN, The Guardian.
Yellen calls for global minimum corporate tax rate
Treasury secretary Janet Yellen on Monday said the US wants to work with G20 countries to agree on a global minimum corporate tax rate to prevent a race to the bottom. “Together, we can use global minimum tax to make sure that the global economy thrives, based on a more level playing field in the taxation of multinational corporations,” she said ahead of virtual meetings with her global counterparts this week. President Joe Biden has proposed increasing the corporate tax rate, to 28% from 21%, as well as the minimum taxes paid on US companies’ foreign income while making profit-shifting to low-tax countries harder. Sources: FT, CNN, Wall Street Journal, The Guardian.
Credit Suisse execs to step down
Two senior executives--chief risk officer Lara Warner and investment bank CEO Brian Chin--are reportedly leaving Credit Suisse over its exposure to the Archegos Capital family office. Credit Suisse’s losses linked to the unwinding of Archegos could be as high as $5bn and come amid additional scrutiny over the bank’s relationship with finance firm Greensill, which collapsed in March. Sources: FT, Reuters, Bloomberg, CNBC.
Putin signs law to stay in power until 2036
Russia’s president Vladimir Putin has signed a law that resets his presidential terms, allowing him to run for president another two times, which could keep him in office until 2036. Putin first became president in 2000 and was re-elected in 2004. Between 2008 and 2012, he was prime minister because of a ban on more than two consecutive presidencies, which he has now overturned in a referendum-like process. He’s been president again since 2012 and could outlast Joseph Stalin under the new rules. Sources: RT, CBS, The Guardian.
Bulgaria PM faces tough coalition talks
Voters in Bulgaria flocked to protest parties with prime minister Boyko Borissov’s centre right GERB party losing around a quarter of seats in election results published on Monday. Although GERB will remain the biggest group in parliament, the divisive election leaves no clear path to power for Borissov and he faces difficult coalition talks with anti-corruption and anti-establishment parties. Source: DW, Reuters, FT, France 24.
LG exits mobile phone business
South Korean electronics maker LG has said it will quit its loss-making mobile phone business to focus on other products and services. LG was once the third-largest mobile phone marker in the world behind Apple and Samsung but has lost ground to other competitors. It expects to fully exit from the mobile phone business by July although it will continue providing services and support for various products. Sources: CNBC, CNN, Reuters.
Google handed victory over code copying
The US Supreme Court on Monday ruled in favour of Google in a decade-old legal battle launched by Oracle, which had sued the internet giant over copying code to develop its Android interface. Android is used in an estimated 70% of smartphones and damages could have amounted to as much as $9bn. The court found Google was covered by fair use protections when it used Oracle code to make its Android system compatible with Java software. Sources: FT, Politico, BBC, CNN.
EU to achieve herd immunity by mid-July
Internal market commissioner Thierry Breton over the weekend said it was possible for the EU to achieve herd immunity by 14 July. Breton was visiting a factory in France, which will start producing vaccine ingredients, where he also said that the EU will become the world leader in vaccine production. The WHO regional director for Europe on 31 March had said that the vaccine roll-out is “unacceptably slow”. Sources: Politico, Le Parisien, France 3.
England continues lockdown easing
Hairdressers, beauty salons, gyms, non-essential shops, and bar and restaurant terraces will be allowed to reopen in England on 12 April, as the UK government moves ahead with its roadmap to exit lockdown. It will also begin testing a coronavirus certificate, which will indicate whether a person has been vaccinated or recently tested. It remains unclear, however, if a foreign travel ban will be lifted for the summer. Sources: AP, BBC, Politico, The Guardian.
Police investigate secret Paris luxury dinners
French police have launched an investigation after a report on M6 television showed clandestine luxury restaurants opening for wealthy clients, with allegations that these include government officials. M6 showed footage of an undercover reporter being told that waiters and guests don’t wear masks and being shown a menu. Restaurants in France are closed under lockdown rules. Sources: BBC, France 24, NPR.
Schneider in charge of health ministry
Social security minister Romain Schneider (LSAP) has been granted delegation of signature for health minister Paulette Lenert (LSAP) from 8 to 18 April. Lenert on 23 March had collapsed while on a walk with her dogs. The cause of her illness is not known, but Lenert has denied speculation of a suicide attempt. Source: Legilux, RTL.
Latest Luxembourg covid-19 update
Five more people died after testing positive for Sars-CoV-2, bringing the pandemic death toll to 760, the health ministry said on Monday. Out of 1,016 PCR tests carried out, 54 were positive (5.32%). Luxembourg has administered 105,885 vaccine doses so far, including 24,797 people who have received both shots. Starting 4 April, the government will no longer update its virus dashboard on Sundays to allow medical teams inputting the data “a moment of respite,” according to a press release. Source: Health ministry.
Weinstein appeals sex crimes conviction
Disgraced Hollywood film producer Harvey Weinstein has launched an appeal against his conviction for rape and sexual assault. He was sentenced to 23 years in prison in February 2020. Dozens of women have come forward accusing Weinstein of sexual misconduct, including rape. Weinstein has repeatedly denied any wrongdoing and his lawyers on Monday said he had not received a fair trial. Sources: BBC, CNBC, Washington Post, NBC.
Early cherry blossom points to climate change
Japan but also Washington, DC have seen historically early cherry blossoms this year, with experts saying it’s a symptom of climate change. Peak bloom used to be reached in April but is now six to ten days ahead of schedule, depending on the location. Trees aren’t only blooming earlier but also faster. The US capital’s first cherry trees, planted along the Tidal Basin, were a gift from Japan in 1912. The trees are particularly sensitive to temperature changes. Sources: AP, CNN, The Guardian, NPR.
Majestic mummies parade in Cairo
Egypt put on a show fit for a king to move 22 royal mummies from the Egyptian Museum to their new home at the National Museum of Egyptian Civilisation. In a multi-million dollar spectacle, the remains were transported seven kilometres in an hour-long journey under heavy security and in special, climate-controlled cases. The Pharaohs’ Golden Parade was broadcast live on television and social media. Sources: Al Jazeera, Reuters, New York Times, BBC.
Today's breakfast briefing was written by Cordula Schnuer.