Carrie Lam, the head of Hong Kong’s regional government, said a contentious extradition bill would “die” when the current legislative term ends in 2020. Library photo: Carrie Lam speaks at an event in New York, 9 June 2016. Photo credit: Asia Society/Elsa Ruiz (CC BY-ND 2.0)
American financier charged with sex trafficking; Brexit has not helped Paris draw fund firms; and Nexon cancels auction. Delano’s breakfast briefing for Tuesday.
Extradition bill was “total failure”: Hong Kong government head
Hong Kong’s chief executive, Carrie Lam, said that, following weeks of mass protests, a controversial extradition “bill is dead”. Lam stopped short of withdrawing the draft legislation, a key demand of the protestors, and said she would not step down, another demand. Sources: BBC, Deutsche Welle and The Guardian.
American financier accused of sexually exploiting “dozens” of underage girls
The billionaire hedge fund manager Jeffrey Epstein plead not guilty to charges of sex trafficking and sexual abuse of girls as young as 14. The alleged abuse took place in New York and Florida. Sources: BBC, The Guardian and Reuters.
BA hit with GDPR fine
The UK Information Commissioner’s Office will fine British Airways £183m under the EU’s General Data Protection Regulation after BA was hacked and the personal details of 500,000 customers were stolen last year. BA said it was “surprised and disappointed” by the penalty. Sources: Financial Times, The Guardian and ZDnet.
Belgium hit with broadband fine
The European Court of Justice ordered Belgium to pay a fine of €5,000 for each day that it fails to provide high speed broadband internet connections as required under European Commission rules. Sources: Brussels Times and Reuters.
Brexit has not helped Paris pick up funds business
France has failed to attract more investment funds despite Brexit uncertainty, while Luxembourg, Ireland, Germany, and even the UK, have enticed more asset management business, according to a report from the French financial regulator. Source: Financial Times.
Nexon cancels $15bn auction
The South Korean video game publisher Nexon suspended the sale of a majority stake in the firm after failing to attract a buyer. Sources: Financial Times, Pulse News and Reuters.
US women’s football player pay gap
Members of the US women’s football team, which just won the World Cup, will earn 18 cents on the dollar compared to the men’s team. Source: The Guardian and Marketwatch. The Women’s World Cup drew a bigger US TV audience than the men’s final. Sources: CNBC and CNN.
Trump attacks British prime minister & ambassador
Donald Trump criticised British PM Theresa May’s government and said he would “no longer deal with” Kim Darroch, the UK ambassador to the US, after the publication of leaked memos written by Darroch which callewd the Trump administration “dysfunctional” and “inept”. Sources: Deutsche Welle, The Guardian and Reuters.
Turnout influences US presidential elections
Voter turnout in US presidential elections “is just 60%, low for a rich country”, wrote The Economist, which projected the results of the last presidential poll “if voting were mandatory for everyone” would have been Hillary Clinton.
9am: Max Schrems, the privacy activist, faces Facebook in hearing at the European Court of Justice. 10:30am:Taina Bofferding, the interior minister (LSAP), outlines the “participatory process” for reforming the law governing local councils.