Near-zero interest rates may be needed for 3 years

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Dallas Fed President Robert Kaplan told CNBC on Wednesday that it is likely appropriate to keep interest rates anchored near zero for up to three years to aid the U.S. economic recovery from the coronavirus pandemic. 

“I think we’re going to need to keep the Fed funds rate at zero … for the next probably 2½ to three years years,” Kaplan said on “The Exchange.” ” It could be that long that until we get on track, to have weathered the crisis and are on track to meet our full employment and price stability goals.” 

Earlier this month, the Federal

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EU proposes new rules to force Big Tech to share data

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The European Union (EU) is reported to be preparing new rules that will force Big Tech companies to share their customer data with smaller rivals.

EU proposes new rules to force Big Tech to share data

Citing an early draft of its landmark ‘Digital Services Act’ regulations, an FT articles says “The likes of Amazon and Google shall not use data collected on the platform …for (their) own commercial activities…unless they (make it) accessible to business users active in the same commercial activities.”

Google has pointed to a blog from earlier this month where it first detailed its response to

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EBA launches 7th bi-annual EU-wide transparency exercise

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The European Banking Authority (EBA) has launched its 7th annual EU-wide transparency exercise.

EBA launches EU-wide transparency exercise

The objective is to provide market participants with updated information on the financial conditions of EU banks as of June 2020, thus assessing the preliminary impact of the COVID-19 crisis on the sector.

The EBA expects to publish the results of this exercise at the beginning of December, along with the Risk Assessment Report.

This exercise will complement the information provided through the Spring EU-wide Transparency exercise of 8 June 2020, by disclosing data with reference date as of March and June

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TikTok controversy ushers in new era of cyber threats

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For weeks now, the hundreds of millions of people using TikTok outside of its home base of China have been watching as the fate of the app in the US and other countries is being determined. The US government’s main beef with the app, and why it’s moving to ban it, has centred on TikTok’s ownership by a Chinese firm, which government lawyers have argued represents an immediate danger to national security. The app’s parent company ByteDance is based in Beijing, and the Trump administration has claimed that the app’s American user data risks ending up in the hands of

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