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The Russian hacking group Clop has claimed responsibility for cyberattacks on Shell and Philips. Shell has acknowledged a potential incident and is investigating with security teams. Philips described the event as an attempted cyberattack on a specific server, which has been contained without affecting customer environments. Clop reportedly stole 89 gigabytes of Shell data and 13.5 gigabytes from Philips, including sensitive files. GalaxyWarden noted that the claims from Clop have not been independently verified. This is not Clop's first attack on Shell; the group previously targeted the company in 2023.

 

NL Times

The UK's Financial Conduct Authority (FCA) is investigating high street banks over their involvement in high-risk investment schemes that have jeopardised billions of pounds of consumer funds. The FCA warned it would take action against firms that have not met their obligations. Notably, NatWest processed funds for 79th Group, linked to a £250m Ponzi scheme, for months after the FCA raised concerns. Lloyds and Barclays are also under scrutiny for their roles in similar schemes.

 

The Times

The French tax authority experienced a cyberattack in late June, as confirmed by the Finance Ministry. Initial investigations indicate that the breach compromised data belonging to both businesses and individuals. The Ministry is set to conduct a more thorough investigation to determine the extent of the data breach and the number of affected users. The announcement followed a claim made by a "malevolent actor" asserting that they had infiltrated the system.

 

Bloomberg Tax

Antwerp’s diamond sector has rejected allegations of a connection between an 18-carat gold ring set with 321 diamonds gifted to US President Donald Trump in June and the subsequent restoration of a 0% US tariff on European natural diamonds. The Antwerp World Diamond Centre said its lobbying for the exemption was “entirely separate” from the gift, which marked the 250th anniversary of US independence, after two Democratic senators raised questions over the circumstances. The White House has also denied granting special favours and said the July tariff exemption reflected an earlier US-EU trade agreement.

 

Reuters

A lawsuit alleging UK law firm White and Case embezzled millions of dollars from the collapsed 1MDB wealth fund will not be heard in Malaysia after the Court of Appeal ruled that the Kuala Lumpur High Court lacked jurisdiction. In a unanimous decision, a three-judge panel at the appellate court found that the necessary conditions for service of proceedings outside Malaysia were unmet and ordered 1MDB to cover RM130,000 in costs.

 

Bloomberg Law

Law.com

Malay Mail

Jamie Dimon has urged UK finance minister John Healey not to hike taxes on banks, warning the move would drive away jobs. The FT reports that the JPMorgan Chase chief called Healey on Thursday last week to make clear that a windfall levy on bank profits or wider tax rises on wealth would be unwelcome. The Trades Union Congress has urged Healey to increase the surcharge paid by banks to help cut the cost of living for workers. Other bank bosses are set to hold talks with the Chancellor this week, sources told the paper.

 

Bloomberg

Financial Times

The Daily Telegraph

Swedish trade union IF Metall is ​calling off its three-year dispute with Tesla after the ‌carmaker bought out all the union's striking members at the company. "This means that the conflict no longer has any effect," the union said. The dispute started in October 2023 when Tesla ​mechanics went on strike as the union demanded collective ⁠agreements with the automaker, which does ​not have manufacturing facilities in Sweden, but whose electric cars are serviced by IF Metall union members. "We can conclude that Tesla is so strongly opposed ​to collective agreements that they would rather buy out employees ​who are members of the union than give them safe conditions," IF Metall ‌observed.

 

Elektrek

Reuters

Russia is experiencing a labour shortage after migrant worker entries from Central Asia dropped by 15% in the first half of 2026. This decline, attributed to stricter migration policies and rising costs, has disrupted essential services. Alexander Safonov of the Financial University notes that bureaucratic hurdles deter workers, and meanwhile the Kremlin's focus on security has intensified scrutiny of migrants, leading to fears of military conscription. Central Asian countries are also diversifying their labour markets, as countries including Uzbekistan promote safer job opportunities abroad. "The trust Moscow has lost could translate into gains for other capitals," experts say.

 

Daily Sabah

Thyssenkrupp is closely monitoring the Rhine's water levels, which have reached record lows and disrupted raw material deliveries. The company has partially suspended barge deliveries and is using private vessels with lower draughts. Thyssenkrupp finance chief Axel Hamann said: "We have set up a dedicated task force in the steel division to monitor it." While customer supply is currently unaffected, Hamann warned that a significant deterioration could impact results. The German government has lifted a ban on Sunday truck transports to assist industries reliant on the Rhine.

 

France 24

The UK government is planning to regulate the use of artificial intelligence in gene synthesis due to rising concerns over a lack of global guardrails. Officials fear that without adequate oversight, the technology could make it easier for terrorists, bad actors, or careless researchers to develop biological weapons. To secure the synthetic DNA creation process and prevent these risks, ministers are currently considering several measures, including the introduction of new biological weapons legislation. “We are monitoring the risks posed by emerging technologies closely, actively weighing at all times what more may be needed,” a government spokesperson said. “We will always take whatever action is necessary to keep the public safe.”

 

Bloomberg

A Bloomberg Economics report suggests the US is running “dangerously low” on key munitions used during the war against Iran. Stocks of hard-to-replace air defence interceptors are “critically low” and long-range missile supplies are “under pressure,” according to the analysis. “The war has consumed important weapons faster than they can be bought and built. That is creating a generational gap in US stockpiles of air defense interceptors and exquisite long-range munitions that cannot be quickly overcome,” Bloomberg Economics defence lead Becca Wasser and Courtney McBride wrote.

 

Bloomberg

Reuters reports that private equity firm Silver ‌Lake is in ongoing talks to acquire human resources and financial management software company Workday in a deal that would be among the largest software buyouts in history. Workday shares had fallen about 15% this year, as ​investors questioned the durability of traditional software amid rapid advances in artificial intelligence.

 

Reuters

A US federal trade court has upheld President Donald Trump’s elimination of the “de minimis” exemption, which allowed goods worth less than $800 to enter the US duty-free, rejecting a challenge that argued he lacked the authority to end it under the International Emergency Economic Powers Act. The decision maintains a significant change for e-commerce retailers such as Shein and Temu, which have relied heavily on direct low-value shipments to US consumers, potentially increasing the cost of their cross-border business models.

 

USA Today

Bloomberg

CNBC

Reuters

A nationwide ban on the breeding, slaughter and sale of dogs for ‌meat takes full effect in South Korea in February 2027. In a poll released just before the legislation ​passed in 2024, more than 90% of 2,000 respondents said they had no intention of eating dog meat in future, and more than 80% said they supported ⁠a ban. ⁠Nearly 95% said they had not ⁠eaten dog meat during the previous ​year. Restaurant owner Lee Kang-chun, who has spent 37 years in the trade at the Moran ‌Market in Seongnam, once one of Korea's best-known hubs for dog meat, lamented the ban. "When I see elderly people come all this way and leave because there's no dog meat left, it nearly brings me to tears," he said.

 

U.S. News