A spokesperson for Tencent, owner of WeChat, said the company complies with regulations in the markets it operates
International News via Reuters:
Austrian advocacy group noyb filed data privacy complaints against China’s AliExpress, TikTok and WeChat on Thursday, saying they failed to comply with European Union laws on providing users with a full copy of their data.
While most tech companies have a tool to fulfil requests for downloading user information, some Chinese companies have made it difficult to access the information, noyb said.
“TikTok, AliExpress and WeChat love collecting as much data about you as possible but vehemently refuse to give you full access as required by EU law,” said Kleanthi Sardeli, data protection lawyer at noyb.
A spokesperson for Tencent, owner of WeChat, said the company complies with regulations in the markets it operates and is committed to protecting user privacy and data security.
TikTok and AliExpress did not respond to requests for comment.
Noyb is known for filing complaints against American companies such as Apple, Alphabet and Meta, leading to several investigations and billions of dollars in fines.
In January noyb filed complaints against six Chinese companies and sought to suspend data transfers to China and called for fines that can reach up to 4% of a company’s global revenue.
Reporting by Supantha Mukherjee in StockholmEditing by Mark Potter and David Goodman
The two countries agreed to complete that process by the end of the year
International News via Reuters:
France handed over control of its last major military facility in Senegal on Thursday, marking the end of its armed forces’ long presence in the West African country and a milestone in a withdrawal from the wider region.
The commander of French forces in Africa, General Pascal Ianni, handed over a key to the military camp in Dakar during a ceremony at which a Senegalese flag was raised while military musicians played the national anthem.
“Today’s transfer of Camp Geille marks a new stage in the evolution of the partnership between our two armed forces,” Ianni told reporters. “It is a response to the Senegalese authorities’ wish to no longer have permanent foreign forces present on their territory.”
Senegalese President Bassirou Diomaye Faye announced last year that France’s military bases were incompatible with Senegalese sovereignty and would have to be transferred.
The two countries agreed to complete that process by the end of the year and it began in March when France handed over two other facilities, also in Dakar.
The process has been more amicable than the departure of French soldiers from Mali, Burkina Faso and Niger, where military juntas have pushed out French troops and turned to Russia for help fighting jihadist insurgencies.
Chad, an important Western ally in the fight against Islamic militants in the region, abruptly ended its defence cooperation pact with France last year, forcing its troops to withdraw.
With a reduced presence in West and Central Africa, France has said it is planning to focus on training, intelligence sharing and responding to requests from countries for assistance.
TRAINING TO CONTINUE
Ianni said French forces’ presence in Senegal dated back more than two centuries, but that a change was needed to reinvent the partnership.
General Mbaye Cisse, head of the Senegalese armed forces general staff, said the new agreement would allow Senegal to continue benefiting from training and information exchanges.
“We wish all our comrades and their families a safe return to France,” he said, adding that he hoped the long history linking the countries would provide a strong base for cooperation.
Former colonial ruler France has faced criticism for stationing soldiers in Senegal long after it gained independence in 1960.
Senegal has long demanded that Paris properly investigate a massacre in 1944 of African soldiers who fought for France in World War Two.
Reporting by Anait Miridzhanian and Ngouda Dione, Editing by Robbie Corey-Boulet and Timothy Heritage
Bermuda’s athletes continued their Island Games journey on day four, experiencing a mix of strong individual efforts and tough challenges across various sports.
In golf, Sienna Mosquera’s medal hopes in the Ladies Individual event saw a slight dip, as she carded a third-round 78, placing her third overall. Jarryd Dillas delivered a superb 68 in the Men’s Individual, moving him to T11th, while the men’s team sits seventh and the women’s team fourth.
Badminton singles proved challenging, with Aaron Simmons falling to the Faroe Islands’ Rúni Øster in the Men’s Round of 16. In the Women’s Round of 64, both Somers Stevenson and Emma Moran-Lee exited, defeated by opponents from Guernsey.
On the lawn bowls greens, Bermuda’s Men’s Triples had mixed fortunes, securing a 13-10 win over the Falkland Islands before narrowly losing 17-15 to Guernsey.
And in squash, the Men’s Doubles Quarter-Finals saw Taylor Carrick and Neil Pohlman unable to advance, defeated by their Jersey counterparts.
Bermuda’s athletes remain determined as the Island Games progress.
Spain has now two months to respond and address the shortcomings raised by the Commission
International News via Reuters:
The European Commission officially challenged the Spanish government on Thursday over its attempts to hinder Spanish bank BBVA’s hostile bid for smaller rival Sabadell.
A letter of formal notice, which opens an infringement procedure, was sent to Madrid after the government last month said BBVA would not be allowed to integrate its operations with Sabadell for at least three years as one of the conditions imposed on the more than 13 billion-euro ($15.05 billion) offer.
The letter said that, in the Commission’s view, provisions in Spanish banking and competition laws granting the government unrestricted powers to intervene in mergers and acquisitions “impinge on the exclusive competences of the European Central Bank and national supervisors under the EU banking regulations”.
The Commission’s letter, which comes after a warning in May not to hinder the bid, also said that it considered Madrid’s broad discretionary powers as unjustified restrictions on the freedom of capital movement.
An economy ministry spokesperson said the regulations have been in force for several years and applied on several occasions, and the government intended to explain and clarify any legal or technical differences as part of constructive cooperation with the EU institutions.
Spain has now two months to respond and address the shortcomings raised by the Commission.
In the absence of a satisfactory response, Brussels may decide to issue a reasoned opinion and urge Spain to comply and could ultimately refer Spain to the Court of Justice of the European Union.
Euro zone banking supervisors have called for banking consolidation to strengthen the sector, but deals have been scarce as politicians have sought to preserve jobs and protect home-grown lenders.
The Commission also said consolidation was essential for achieving a bloc-wide banking union.
BBVA decided to proceed with its bid despite the condition imposed by the government and the deal is now waiting for approval from Spain’s stock market supervisor.
BBVA and Sabadell declined to comment on the European Commission’s move.
($1 = 0.8639 euros)
Reporting by Jesús Aguado; additional reporting by Bart Meijer in Brussels and David Latona in Madrid; editing by Andrei Khalip, Kirsten Donovan
Portugal’s minority government will present a bill that would gradually cut the corporate tax rate to 17% by 2028 from 20% now, aiming to improve business competitiveness and boost investment, Prime Minister Luis Montenegro said on Thursday.
In keeping with the centre-right ruling coalition’s electoral promise and following a one-percentage-point cut this year approved by the previous legislature, the bill would trim one percentage point off the tax rate in each year between 2026 and 2028.
The cabinet should approve the bill on Friday, Montenegro said.
“This opens a new cycle of tax attractiveness for Portugal … to strengthen investment with incentives for our entrepreneurs,” Montenegro told lawmakers, adding that it would also improve workers’ conditions.
Business owners have long complained about stifling corporate tax rates, which reach more than 30% when state and municipal taxes are added, representing the second-highest rate in the European Union, according to international think-tank Tax Foundation.
The bill is likely to be approved by parliament later with support from the far-right Chega party, which has advocated a substantial tax cut for companies. Chega became the main opposition party after a parliamentary election in May that gave Montenegro’s Democratic Alliance a new term.
Reporting by Sergio Goncalves; editing by Andrei Khalip
Bermuda’s much-anticipated Eastern County Cup competition is poised for an exciting launch this Saturday, July 19th. Cup holders Bailey’s Bay will face challengers Flatts Victoria in what promises to be a thrilling encounter at Lord’s in St. David’s, with play scheduled to commence at 10 am.
Both teams have unveiled their squads, revealing a mix of seasoned players and emerging talent. Reigning champions Bailey’s Bay will be led by captain Terryn Fray, bolstered by the inclusion of Zeko Burgess from St. George’s and Derrick Brangman from St. David’s, alongside promising Colt Michael Agard.
Flatts Victoria, captained by Dajon Carey, have also strengthened significantly. They’ve brought in Kamau Leverock from Warwick, Kevin Hirdle from Western Stars, and Cofield Robinson from Somerset, with Colts Amari Ebbin and Jermaine Clarke also named.
Adding an extra layer of intrigue, Brianna Ray has been named as a reserve for the Flatts team, a selection that has generated considerable buzz.
With strong line-ups and the rich heritage of the Eastern County Cup, Saturday’s clash is set to be a captivating spectacle for Bermudian cricket fans.
And all the action will be covered live by Bermuda Broadcasting on television, radio, and online at bbc.bm
Golfer Daniel Augustus has concluded his challenge at The Rabat Open, part of the Clutch Tour, held at the picturesque Brocket Hall Estate in the United Kingdom.
Augustus carded a second-round two-over-par 66 on the demanding Palmerston Course. Despite flashes of good play, including three birdies, a mixed scorecard featuring bogeys and a double bogey proved costly.
The two-over 66 saw him finish in a tie for 83rd place, ultimately missing the cut by four strokes. Augustus will now regroup and look ahead to his next challenge on the Clutch Tour as he continues his professional journey.
Written by Margot Shane, Co-Founder and Program Director of SkillCraft
The picture that often accompanies this story is not of me. That’s intentional.
It shows something bigger than any one person. It shows a community – business owners and employees – who believe their work is more than just a job. They believe in shaping the next generation. That’s the SkillCraft Bermuda community.
Finding a path from school to meaningful work is tough. It was tough for many of us. Today, it’s even harder. Youth unemployment in Bermuda (ages 16–24) is 13.5%. And that struggle is not equally shared. These challenges are intensified by socio-economic disadvantage and other systemic inequities, which means groups of young people are underrepresented in clear, supported career pathways.
Young Bermudians face unemployment at four times the rate of non-Bermudians. Black youth are twice as likely to be unemployed as white youth. Men are seven times more likely to be unemployed than women. Without targeted support, too many young people – especially from underrepresented groups are left behind, without access to clear, meaningful career pathways.
SkillCraft Bermuda was created to change that. We connect young people with real work experience, mentorship, and training. Our goal is simple: to open doors and build workplace skills before the job search even begins. Each year, we run a Social Media Internship Programme that includes: ● Professional development and digital marketing training ● Workplace skill building and coaching ● Hands-on, real-world experience
By the end of our 2024 programme, one intern, Henok Simons, told us: “SkillCraft helped me understand what I would be doing in an office-based job … and helped me figure out that it’s not what I want.”
That’s powerful. Without this chance, Henok might have ended up in a career that didn’t fit. Because of this experience, he’s clearer – and more confident – about his future.
We also train host businesses to support and mentor interns – many of whom successfully transition to full-time jobs. Jessica Bowers, Marketing and Communications Manager at BUEI, said:
“The SkillCraft Youth Internship Team does a phenomenal job preparing both the interns and host businesses. We’ve been consistently impressed with the growth and confidence in our interns.”
In fact, BUEI went on to hire both of the interns placed with them.
Since our launch in 2022 we’ve supported over 40 interns. Here’s what we’ve seen: ● 46% of interns were offered jobs by their host businesses ● 100% showed growth in core professional skills such as openness to feedback, willingness to learn, punctuality and problem-solving. ● 3 interns have already launched careers in marketing as a direct result of their SkillCraft placements
Our long-term vision is ambitious but necessary: we want youth unemployment in Bermuda reduced to a low single-digit percentage. We want every young person to have access to career exposure, training and professional networks – regardless of their background.
Our program’s successes are not just SkillCraft’s success. They belong to the community. Business owners, mentors, team leaders – they are the ones who make space, give time and invest in young people. Our job is simply to connect the pieces.
Our work matters. But it only works because we do it together.
So, enjoy the picture. Every face in it represents someone who showed up for Bermuda’s future.
We hope you’ll be part of the next one.
For more information about Skillcraft, visit: www.skillcraft.bm
This op-ed is part of the Third Sector Spotlight Series, a collective media campaign coordinated by the Nonprofit Alliance of Bermuda. This campaign aims to raise awareness of the value, impact and contributions of Bermuda’s nonprofit sector
The deadline for Overseas Territories to implement a public register of beneficial ownership for their respective finance industries was June 2025
British Virgin Islands flag. Photo: Dorian Hodge/ Pexels
Sister territory, the British Virgin Islands government has been put on alert after UK MPs called for an Order in Council for failing to make their beneficial ownership list public.
The deadline to create a list for its financial services industry was revised for June 2025.
Labour MP Stephen Doughty responded to questions raised in the House of Commons last week to explain that the UK Government expects “rapid and robust action to be taken, given the crucial importance of tackling illicit finance and increasing transparency.
He added, “We have set out that we expect access to be granted to a wide range of legitimate users, that registers should enable proactive investigations and should act as a deterrent to those seeking to conceal illicit gains.”
The British Virgin Islands failed to meet the deadline last month and instead delivered a new policy stating limiting those who request beneficial ownership details, who have legitimate purpose.
Currently, the Bermuda Monetary Authority hold information of Bermuda’s centralised register of beneficial owners.
Under Bermuda law, the information on the central register will not be publicly available although consultation on the matter began in November 2024, to establish a unified register.
The Bermuda government appears to be on track to align with UK guidelines, to make public a beneficial ownership register by October this year.
A spokesperson for the Ministry of Finance explained, “Bermuda already maintains a live electronic Beneficial Ownership register and has done so since 2019.”
“What is being executed upon is the implementation of an updated register, that will facilitate the revised FATF Recommendation 24 requirements, and eventually permit legitimate interest access.”
The system is expected to go live in October, in keeping with EU member states under the deadline of July 2026.
The UK Parliament, against wishes of the former Conservative government, legislated to require a draft Order in Council forcing any British Overseas Territory that has not introduced a publicly accessible register of beneficial ownership to do so by 2020.
That deadline was revised to June 2025.
The spokesperson added, “It is intended that this system will go live in October of 2025 and legitimate interest access will be aligned with the timeline provided to EU member states under the 6AMLD in July of 2026.
OTs include as Bermuda, B.V.I., Turks and Caicos and Anguilla.
Timeline imminent for online work permit processing; Three arrests for possession of bladed articles; Bermuda appears to be on track to meet UK Beneficial Ownership rules
Truck orders in North America have fallen more than 40% in recent months compared to last year
International News via Reuters:
Swedish truckmaker Volvo reported higher than expected quarterly earnings on Thursday, as signs of recovery in Europe helped it offset sluggish demand in North America.
Truck orders in North America have fallen more than 40% in recent months compared to last year, adding to the pressures on pricing and sentiment across the sector.
The second quarter was characterized by a general stabilization of the European market, contrasted by more uncertainty and a wait-and-see mode among customers in North America, Volvo said.
“The results are better than feared, but the heat does appear to be coming out of Europe,” analysts from Jefferies said in a research note.
The downturn in North America is likely to last for quarters, CEO Martin Lundstedt told Reuters, although there might be a positive a pre-buy effect next year if new U.S. emissions rules become clearer. Those rules could make trucks more expensive and harder to maintain from 2027.
Analysts have said that Volvo, which makes vehicles under brands such as Mack Trucks and Renault as well as its own name, looks better positioned than its peers to weather U.S. tariffs as it builds a larger share of its trucks locally, reducing its exposure to import-related costs.
Volvo’s truck order intake was similar to last year’s at 47,761 vehicles, while deliveries fell 10.5% to 52,764 vehicles. Analysts from J.P.Morgan said they expected deliveries to improve in Europe in the second half of 2025.
Lundstedt said he was “rather confident” that the recovery in Europe would continue, as Volvo had a full order coverage through the third quarter and bookings were also coming in for the fourth.
Future tailwinds from infrastructure and defence investments should also help the business in Europe, he added.
Volvo’s operating profit, excluding currency exchange effects and one-off charges tied to lower battery volume commitments and asset impairments in its electric vehicle operations, fell to 13.5 billion Swedish crowns ($1.39 billion) in the second quarter. Analysts polled by LSEG had expected 13.3 billion on average.
The Volvo shares, which jumped more than 3% in early trading, were broadly flat by 0945 GMT.
($1 = 9.7384 Swedish crowns)
Reporting by Jesus Calero in Gdansk, editing by Milla Nissi-Prussak
The 30% duty is steeper than the ECB’s worst-case projection last month of 20%
International News via Reuters:
A steady outlook for the euro zone economy remains intact, at least for now, according to most economists in a Reuters poll, despite a recent U.S. threat of a 30% tariff on European Union goods.
The EU has warned of retaliatory measures if a deal is not reached before U.S. President Trump’s proposed tariffs take effect on August 1, adding complexity for European Central Bank policymakers before next week’s policy meeting.
The 30% duty is steeper than the ECB’s worst-case projection last month of 20%. But those uncertainties will not be enough to derail the central bank’s intention to pause its year-long rate-cutting campaign, some ECB policymakers told Reuters.
All 84 economists in a July 10-17 Reuters poll expected the central bank to hold the deposit rate at 2.00% on July 24.
Respondents were hesitant to change economic forecasts, citing the lack of clarity around the trade conflict, but some hinted risks were skewed to the downside.
Poll median forecasts suggested the euro zone economy will expand 1.0% this year, pick up to 1.2% next year and 1.5% in 2027, largely unchanged from a month ago.
“A deal that would prevent the 30% is still likely. It remains our base case scenario … we haven’t changed that. But I’m leaning towards a more downbeat base case with a high risk there won’t be a deal,” Carsten Brzeski, global head of macro at ING, said.
“Given everything is even more uncertain, another preemptive rate cut doesn’t make sense … There is still a point to be made to cut rates in September and this is not so much to support growth but driven by the stronger euro that would continue if we were to see a deal.”
The euro has strengthened 12% so far this year against the U.S. dollar, one of the key reasons behind the recent ease in inflation. The common currency will gain nearly 3.5% to hit $1.20 in a year, a separate Reuters survey suggested.
A more than 58% majority, 49 of 84, predicted the ECB would cut rates once more, likely in September, a slightly bigger majority than around 53% last month. Twenty economists said there would be no more reductions, while only 15 said two cuts were coming.
That coincides with a steady price outlook which showed inflation averaging around 2%, where the ECB targets it to be, over the coming three years, largely the same as predicted in a June survey.
“The ECB can’t say they are done because there’s so much fundamental uncertainty. But the burden of proof for further rate cuts is quite high,” Bas van Geffen, senior macro strategist at Rabobank, said.
“The risk is a worse outcome. A deal is not guaranteed and it’s become pretty clear Europe would not be very happy with a 30% tariff. They won’t just accept that. Europe will initially retaliate with their own rebalancing tariffs.”
Germany’s economy – the largest in the region – will grow a mere 0.2% this year and 1.2% in 2026, according to the poll, largely unchanged from April’s forecasts. That was despite optimism around infrastructure spending plans.
Growth in France will be 0.5% this year and 0.9% in 2026, the poll predicted.
(Other stories from the Reuters global economic poll)
Reporting by Indradip Ghosh; Polling by Renusri K, Mumal Rathore and Anant Chandak; Editing by Ross Finley and Andrew Heavens
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