Notre-Dame de Paris partially gutted by fire
One of France’s best known landmarks, the 12th century Notre-Dame cathedral in Paris, has been severely damaged in a fire. The roof and spire collapsed, but firefighters saved the stone structure. The cathedral was undergoing renovations. President Emmanuel Macron postponed a national TV address to attend the scene and pledged that Notre-Dame would be rebuilt. Reported by the BBC, DW, France 24, Guardian and Reuters.
Unicredit: $1.3bn to end sanctions probe
Italy’s largest banking group, Unicredit, has agreed to pay $1.3bn to settle allegations that it broke US sanctions on Burma, Cuba, Iran, Libya, Sudan and Syria. Reported by the Financial Times, New York Post and Reuters.
European copyright rules passed
EU governments approved a controversial plan that forces internet firms such as Facebook and Google to pay license fees to show snipers of copyrighted material, such as music, videos and news articles. Several countries, including Luxembourg, the Netherlands and Poland, were opposed, but the measure was successfully backed by France and Germany. Reported by Politico, the Register and Variety.
Greek debt costs sink as economy improves
Greek bond yields hit the lowest level since September 2005 as Athens prepares to pay off IMF loans early. Reported by the Financial Times, Reuters and Sky News.
Gatwick drone operator “had a link into what was going on at the airport”
Police suspect the drone attacks that shutdown a London airport runway on two days last December was an inside job, reported the BBC. More than 1,000 flights were cancelled at Gatwick, the UK’s second busiest airport.
Foxconn founder to step aside
Terry Gou told Reuters that he would step down as board chair of Foxconn, the contract manufacturer that makes devices for Apple and other electronics brands. The company told Reuters a short time later that Gou would remain chairman but “withdraw from daily operations”.
Russian court issues 3,000 ruble data privacy fines
Facebook and Twitter have separately been fined €41 for failing to store local user data on Russian territory, according to ZDnet.
High returns
A Canadian fund that invests in the marijuana industry harvested the best returns out of 3,414 global equity funds in the 12 months through February 2019, reported Citywire Selector. The Purpose Marijuana Opportunities yielded 62% in greenback terms, and that’s with 23.7% of net assets in cash.
Later today
Brexit: Jean-Claude Juncker, European Commission president, speaks during a plenary session of the European Parliament. Debate: Students from the University of Luxembourg and Miami University will debate “Should we kill to eat” at the Mudac campus in Differdange, 11:30am-1:30pm. Earnings: Health and pharmaceutical manufacturer Johnson & Johnson, tech giant IBM and streaming video service Netflix announce quarterly results.
Looking ahead
Wednesday: There’s a farmers market on place Léon XIII, Luxembourg-Bonnevoie, 8am to 1:30pm. Thursday: The US justice department is expected to release a redacted version of the Mueller report on alleged Russian interference in the 2016 American election. Financial institutions Bank of New York Mellon and Morgan Stanley, and food & beverage maker Pepsico report quarterly results.
Prêt-à-porter
A University of Illinois student’s chemistry lab grade was saved when a total stranger lent him a pair of sweatpants, per Buzzfeed.
Today’s breakfast briefing was written by Aaron Grunwald