WHAT’S NEWS
China Trade Truce
The U.S. and China struck a truce on trade over the weekend when both parties agreed to suspend the tariffs. That takes off the table U.S. levies on $150 billion of Chinese goods in the near term, as well as Chinese border taxes on $50 billion in U.S. goods. – WSJ
GDPR
From restaurants to insurers, there is a race to comply with new GDPR privacy rules. Business surveys show between 60% and 85% of companies say they don’t expect to be in full compliance by Friday’s deadline. – WSJ
Since the new complex General Data Protection Regulations (GDPR) require companies to transform software, policies and processes, some smaller companies chose to pull out of Europe altogether. – FT
GDPR takes effect on Friday—here’s what to expect – WSJ
Everything You Need To Know About GDPR – ZeroHedge
On 25 May 2018, several major U.S. news websites, including the Chicago Tribune, the New York Daily News, and the Los Angeles Times, suspended access to their services for European users due to unreadiness for #GDPR. Some U.S. businesses chose to pull out of Europe altogether. pic.twitter.com/aKsyaAyaSq
— MILESTONES | in business (@BizTalesToShare) May 26, 2018
Julian Saunders, chief executive officer of Port: “Denying service to EU citizens does not absolve [U.S. companies] of their responsibilities. They still hold data on EU citizens and therefore they are required to comply and respond to subject access requests like everyone else.” – Bloomberg
Top 35 in UK Fintech
The UK Fintech 35 under 35 by Business Insider UK highlights the most promising young entrepreneurs, engineers, marketers, and sector experts under the age of 35. It spans both startups and big banks operating in the sector. – Business Insider UK
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