Ireland is failing to apply the EU’s privacy laws to US Big Tech companies, with 98 per cent of 164 significant complaints about privacy abuses still unresolved by its regulator.
Google, Facebook, Apple, Microsoft and Twitter all have their European headquarters in Dublin, making Ireland’s Data Protection Commissioner the lead EU regulator responsible for holding them to the law.
An analysis by the Irish Council for Civil Liberties found that most cases were still unresolved, and that Spain, which has a smaller budget than Ireland for data protection, produces 10 times more draft decisions.
Johnny Ryan, senior fellow at ICCL, said Ireland was the “worst bottleneck” for enforcement of the EU’s General Data Protection Regulation.
Thank you for reading FirstFT Europe/Africa. Let me know what you think of the newsletter at jennifer.creery@ft.com. — Jennifer
Five more stories in the news
1. Horta-Osório tightens his grip at Credit Suisse Credit Suisse’s new chair António Horta-Osório has taken on more executive duties at the Swiss bank in what insiders describe as a power grab that has diluted the authority of chief executive Thomas Gottstein.
2. Marine Le Pen takes aim at France’s ‘Talibanised’ zones The populist French far-right leader has launched a blistering attack on “arrogant” President Emmanuel Macron at the start of her 2022 election campaign. Le Pen promised to restore law and order to what she called the country’s “narco-housing estates” and “Talibanised” zones.
3. Beijing to break up Ant’s Alipay Chinese regulators want to break up the 1bn plus-user super app owned by Jack Ma’s Ant Group and create a separate app for the company’s highly profitable loans business, in the most visible restructuring yet of the fintech giant.
4. M&S reviews future of French stores Marks and Spencer is reviewing the future of its 20 French stores after border delays caused by post-Brexit customs arrangements hit deliveries of UK-made fresh and chilled foods, such as its popular sandwiches.
5. Britain’s Emma Raducanu wins US Open women’s final Emma Raducanu won the women’s US Open title on Saturday, stunning the tennis world by becoming the first player to win a Grand Slam trophy after entering through the qualification rounds.
Coronavirus digest
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The UK has dropped plans to introduce vaccine passports at nightclubs and mass events in England this month.
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Economists say Europe is in the “sweet spot” of its bounceback from the record postwar recession, but optimism is tempered as risks gather.
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Carmakers Daimler and BMW plan to limit the volume of premium models they ship even once the industry-wide chip shortage eases, in a bid to lock in hefty price increases. A UPS top executive has warned the supply chain crisis will inflict lasting damage on globalisation driven by multinationals.
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The day ahead
Norway elections Voting in parliamentary elections officially begins today, although several large cities opened their polls the day before. It is expected to bring the centre-left opposition to power after a race dominated by the future of oil and the climate crisis.
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The FT View: Norway is well equipped to decarbonise but the election has shown that this does not make the politics of climate change less fraught.
Opec oil market report When Opec releases its monthly oil market report, Asia, particularly China, is expected to make up the majority of the incremental demand in the fourth quarter. (S&P Global)
Prince Andrew court hearing in US sexual assault lawsuit A video conference on the next stages of the civil case against the royal is scheduled for a New York court. The prince has denied all claims made by Virginia Giuffre, including those of sexual abuse. (BBC)
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What else we’re reading
Boris Johnson’s £12bn tax gamble Britain is on course to record the highest tax burden since 1950, thanks to the prime minister’s plan to address the crisis in health and social care. Many Conservatives still think of themselves as small-state, low-tax politicians. But in reality, graduates face the loss of 50 per cent of any salary increase owing to taxation.
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More backlash: Tony Danker, head of the CBI, plans to voice concern over the threat to investment by taxing business.
The battle to control football: Fifa versus Uefa The plan to hold the World Cup every two years is part of a struggle over whether the big clubs or national teams will be pre-eminent. At its heart, it is a battle over money and power, with Fifa and Uefa fighting for dominance. For more on the business of sport, sign up to our Scoreboard newsletter.
How Germany’s Greens embraced business Not long ago, most Green party politicians ignored business — and were ignored by it. Now, ahead of the country’s pivotal election, rarely a week goes by without its candidate for chancellor, Annalena Baerbock, speaking to an industry captain.
Investors divided over Chinese markets A clash has erupted between two of the world’s most prominent investors, reflecting a widening divide on Wall Street about putting money to work in China. While fund managers have been cooling on the world’s second-largest economy, BlackRock last week announced it had raised $1bn for its first mutual fund in China.
9/11 and the American psyche As Siri Hustvedt stood at the window that day 20 years ago and watched smoke fill a cloudless blue sky, the American novelist and essayist could not have predicted the destruction that would follow. “But I knew enough to resist the American hubris of exceptionalism and nonsense about ‘the civilised world’ in a struggle with bestial others” she writes.
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Opinion: Events such as 9/11 or the pandemic teach valuable lessons, if only managers would remember them, writes Andrew Hill.
FT Masters in Management
The University of St Gallen in Switzerland has topped the Financial Times 2021 ranking of masters in management degrees for the 11th year in a row. View the full ranking here.