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Crypto exchanges are seeking to quickly shore up their defences following the record $6.3bn hack of Binance, the world's largest player in the sector. Observers say the industry will need to address security issues with urgency as US President Donald Trump's regulators move to make digital assets more embedded in mainstream finance. Binance's rivals, including Kraken and Coinbase, say they are bolstering their own systems in a bid to reassure customers that their tokens are safe. "For crypto to reach its full potential, the security situation must be addressed immediately," said Chris Perkins, Franklin Templeton's head ​of crypto. Some in the industry are urging the development of a coordinated hack detection system. "We need a real-time alert system that allows participants to share information immediately when a hack occurs, coordinate a rapid ⁠response, and ​temporarily freeze suspected stolen funds," Star Xu, chief executive of crypto exchange OKX, wrote in a post ​on X.

 

Reuters

The UK's National Cyber Security Centre (NCSC) has warned that AI-powered malware is highly likely to be used in a ransomware attack on the UK's critical infrastructure by 2028. Power stations, airports and hospitals could be among the targets. Its annual review says AI will help criminals identify weaknesses in IT systems, select targets and develop malicious software, and Russia and China are expected to use the technology routinely in cyber-attacks. NCSC chief executive Richard Horne warns of an unprecedented rise in cyber incidents, and is urging organisations to invest more heavily in cyber resilience.

 

The Guardian

Hackers have targeted refrigeration systems at dozens of supermarkets across Europe, causing freezers to overheat and destroying food worth millions of euros. Retailers affected include Ahold Delhaize, Carrefour, Intermarché, Ikea, and Supervalu. Freezer temperatures at stores operated by Ica and Coop in Sweden reportedly surged to as high as 55°C. The attack exploited security weaknesses in temperature control systems supplied by Danfoss, which has urged customers to update software and strengthen network protection. Belgium has classified the incident as a national cyber security threat, while EU officials have said that Europe’s overall food security remains unaffected.

 

Copenhagen Post

Deutsche Welle (EN)

France 24

Helsinki Times

EU foreign policy chief Kaja Kallas has warned UK Prime Minister Andy Burnham that he would face difficult negotiations over Britain rejoining the bloc because officials remained “traumatised” by Brexit. Speaking alongside UK Defence Secretary Wes Streeting, she suggested those experiences could limit Brussels’ willingness to offer concessions. Her comments follow reports Britain might rejoin without adopting the euro or entering the Schengen free-travel area.

 

Financial Times

The Daily Telegraph

Inflation in Spain remained at 4.9% in October, matching September's figure, according to the National Statistics Institute (INE). Rising gas and fuel prices have kept inflation high, although there was a year-on-year decline in food and clothing prices. Prime Minister Pedro Sanchez's government has implemented measures to cap gas price increases and provide fuel discounts. Pedro Aznar, a professor at Esade, noted that while employment and wages are currently offsetting inflation's impact, rising prices pose a significant threat to growth. The cost of living is a key issue for voters. Protests over the matter culminated in Prime Minister Pedro Sanchez calling a snap general election on November 29. 

 

France 24

Germany's retail sales fell unexpectedly by 2% in September compared with the previous month, significantly underperforming analysts’ expectations of a 0.4% increase, according to figures released by federal statistics office Destatis. The decline represents a 2.4 percentage point shortfall against forecasts, highlighting weaker-than-anticipated consumer spending in Europe's largest economy. 

 

Reuters

Germany's private banks have offered employees a 4.2% pay increase from mid-2027 in their collective bargaining dispute with trade union Verdi. The proposed uplift would take effect midway through 2027. Verdi is seeking a larger increase than employers have put forward. The offer follows warning strikes by bank workers. Verdi is also calling for employment protections linked to banks' use of artificial intelligence, placing job security alongside pay in the continuing talks.

 

Handelsblatt

Google has agreed to let the trade union Prospect organise among about 7,000 employees across its UK operations, including YouTube but excluding DeepMind. The union has a similar access agreement with Meta, covering about 5,000 UK employees across Facebook, WhatsApp and Instagram. Both arrangements comply with new Employment Rights Act rules allowing unions to contact non-members, encourage recruitment and hold workplace sessions. Prospect general secretary Mike Clancy said tech workers deserved a stronger voice on pay, flexibility, AI deployment and culture.

 

The Guardian

Serbian authorities have detained Davor Macura, the owner of Alta Bank, on suspicion of embezzling 45bn dinars (approximately $428m). The Central Bank of Serbia had already revoked Alta Bank's operating licence and launched bankruptcy proceedings due to liquidity issues. Macura, who has connections to the former government, is accused of illegally transferring funds from the lender. The situation has seen armed police guarding the bank's offices as customers attempt to withdraw their savings.

 

ABC News

Bloomberg

Instinct, an AI assistant operated by Silicon Valley start-up Spear Street Technology, is accused of breaching UK data protection law by using customer information to train models after users opt out. Accessed via WhatsApp, it can read emails and pay bills, handling sensitive personal and financial data. Its policy permits opted-out data flagged for safety review to train models. 

 

The Times

Insurance analysts face pressure to downplay climate risks in pricing models, potentially breaching regulations and creating systemic risks in the industry, whistleblowers report.

 

Financial Times

Garment factories in Bangladesh reopened on Sunday after wage protests disrupted operations. Workers are demanding a minimum monthly wage of 30,000 taka ($243), significantly higher than the current 12,500 taka, amid rising living costs and inflation. Babul Akhter, general secretary of the Bangladesh Garment and Industrial Workers Federation, said: "If factory owners cannot pay workers properly, they should negotiate better prices with international buyers." The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) reported that protests affected 529 factories and nearly 1m workers. The government has formed a six-member minimum wage board to review the workers' ​demand. "The government has already taken a step by forming the wage board. We expect workers to allow the review process to proceed," said BGMEA President Mahmud Hasan Khan.

 

France 24

U.S. News