Landmark LGBT ruling in America
The US Supreme Court ruled that LGBT workers are protected under federal law. Justices said the 1964 Civil Rights Act covered sexual orientation and gender identity, ruling against the Trump administration. Not all US states have passed LGBT workplace protection laws, so this is the first national legal standard. Sources: Associated Press, BBC, Financial Times, NPR, RTE and Washington Post.
Trump confirms US troop cuts in Germany
Donald Trump confirmed earlier reports that he would reduce the number of US troops permanently stationed in Germany by 9,000, to 25,000, because Berlin has not reached the Nato member goal of spending 2% of GDP on defence. Sources: AFP, BBC, Deutsche Welle and Reuters.
Brexit talks to continue this summer
EU and UK officials agreed that “new momentum was required” in stalled post-Brexit talks, with more intense negotiations set for July and August. Sources: Associated Press, Euractiv, Politico and Reuters.
Schengen movement eased
A host of European countries reopened their borders on Monday, after three months of covid-19 restrictions. Sources: Associated Press, Delano, The Guardian and the Telegraph.
DP calls for investment and solidarity at party congress
The government’s economic stimulus programme should keep unemployment low and thus avoid the need for tax rises, Corinne Cahen, the family minister and DP party president, argued at the DP’s first digital party congress. The party called for increased teleworking, including by cross-border workers. About 600 members attended the virtual meeting. Sources: RTL, Tageblatt and Wort.
First average speed radar section
Luxembourg’s first average speed radar system went into service, on the N11 arterial road between Waldhof and Gonderange. Sources: Mobility ministry and Radio 100,7.
Coronavirus treatment withdrawal
America’s Food and Drug Administration withdrew emergency authorisation to use hydroxychloroquine and chloroquine, two malaria drugs, to treat covid-19, after concluding they are unlikely to be effective and potentially pose risks to patients. Sources: CNBC, CNN, Deutsche Welle and Marketwatch.
Luxembourg covid-19 status
Only 2 of the 4,342 people tested for covid-19 in the 24 hours to Monday afternoon in Luxembourg were positive. The number of hospitalised patients was down from 16 to 13. The Rt_eff reproduction rate was up from 0.85 to 0.93 (but still below the benchmark of 1). Source: Health ministry.
Berlin buys stake in biotech firm
The German government is acquiring 23% of Curevac, which is developing a covid-19 vaccine, for €300m. Sources: Euractiv, Financial Times, Politico and Reuters.
Goebbels quit Luxembourg freeport board
Robert Goebbels, former economy minister and MEP (LSAP), resigned as chair of the Luxembourg’s freeport. The company’s CEO, Philippe Dauvergne, indicated he was considering his own move. Source: Paperjam.
Bouvier files $60m action over Singapore freeport deal
The Swiss art dealer and co-owner of Luxembourg’s freeport, Yves Bouvier, is suing a group of investors for backing out of a deal to buy Singapore’s freeport. The investors said there was no such agreement. Source: Bloomberg.
CFL posts higher profits for 2019
Turnover at Luxembourg’s national railway, the CFL, rose from €892.5m in 2018 to €910.5m in 2019, with profits rising from €7.8m to €17.8m. It warned that the covid-19 crisis could hit 2020 revenue by 15%. Sources: CFL and Paperjam.
Half a trillion dollars in App Store
Apple said its App Store ecosystem facilitated $519bn in billing and sales last year. Sources: BBC, Bloomberg, CNBC and Seeking Alpha.
BP could take hit up to $17.5bn
The oil giant BP lowered its forecast oil price by a third and warned it could write down $17.5bn in oil and gas assets due to the coronavirus pandemic. Last week, BP announced 10,000 job cuts. Sources: BBC, CNBC, Financial Times and The Guardian.
Ex-Ebay employees accused of harassment
Six former Ebay executives were charged with cyberstalking after sending live cockroaches, a preserved pig foetus, pornography and other items to a couple that ran a newsletter critical of the company. The six have not yet appeared in court to enter pleas. Sources: Associated Press, CNBC, CNN and Financial Times.
Agenda
Tuesday 16 June, 5:30pm-6pm: ING and TedXLuxembourg City’s “Coffee with Lars Sudmann” interview with the Procter & Gamble executive on Facebook Live. Wednesday 17 June, 9am: British Chamber of Commerce’s “Leadership in times of crisis: the good, the bad and the ugly” online conference. Wednesday 17 June, 10am: British Ladies Club of Luxembourg’s “virtual coffee morning”; email [email protected] for the Zoom link. Wednesday 17 June, 5pm-6pm: EIB Institute’s fourth and final financial management webinar covers “Killer financial KPIs”. Wednesday 17 June, 5pm: Luxembourg Private Equity and Venture Capital Association’s “10 years, 10 minutes” interview with Uli Grabenwarter of the European Investment Fund on “the state of European ventures”. Thursday 18 June, 9:30am-12:45pm: Paperjam Club’s “How to set up an anti-money laundering process” online workshop. Thursday 18 June 11:45am-1:30pm: House of Startups Luxembourg’s social media advertising workshop. Thursday 18 June, 10am-11am: Step Benelux’s “DAC 6 in Benelux: The challenges of an inconsistent implementation” webinar. Thursday 18 June, 1:30pm-3pm: Luxembourg directors institute (ILA) and Women in Digital Empowerment’s “Leading strategic corporate sustainability” training webinar. Thursday 18 June, 2pm-5:15pm: Paperjam Club’s “Proactive risk management in contemporary human resources management” workshop. Thursday 18 June, 6pm-7:30pm: The Romania Luxembourg Business Forum hosts a covid-19 economic outlook talk and virtual networking event.
Oscars delayed two months
The 93rd Academy Awards has been rescheduled from 28 February to 25 April 2021 as the coronavirus outbreak had delayed the release of several films. Sources: CNBC, CNN and Sky News.
Panda breaks out of enclosure at Danish zoo
Xing Er, a 7 year old giant panda, briefly escaped the newly built Panda House at Copenhagen Zoo and roamed the park before being captured. The zoo was closed at the time and no one was injured. Sources: Associated Press and Daily Mail.
Today’s breakfast briefing was written by Aaron Grunwald