In today’s top Europe, Middle East and Africa (EMEA) news, foreign retailers who have continued to do business in Russia following the attack on Ukraine face backlash by shoppers in Poland, while the FBI reveals four Russians employed by their government have been charged with cyber incursions. Plus, the U.K.’s regulators issue a joint statement highlighting the benefits of open banking; the European Digital Markets Act will be implemented by year’s end; and instant delivery platform Gopuff is teaming up with U.K. supermarket giant Morrisons.
Retail Holdouts in Russia Face Repercussions in Poland
Foreign retailers who have stayed in Russia following Vladimir Putin’s attack on Ukraine are facing backlash by shoppers in Poland who have turned to boycotting stores, Poland’s Prime Minister Mateusz Morawiecki said. “It shows that ordinary people, more than corporations, understand that current times are exceptional,” he said. “Decency requires taking actions that trigger losses.”
Russian Government Employees Charged in Worldwide Hacking Scheme
Four Russians employed by their government have been charged with attempting, supporting and conducting cyber incursions in two separate conspiracies, the FBI reported. The U.S. Department of Justice (DOJ) alleged the defendants targeted the world’s energy sector from 2012 through 2018. These hacking campaigns were aimed at thousands of computers in hundreds of companies and organizations, in more than 11 dozen countries.
UK to Boost Open Banking With New Regulator
The U.K.’s regulators issued a joint statement highlighting the benefits of open banking and their plan to create a new regulator that continues supporting these efforts. The Competition and Markets Authority ordered the largest nine U.K. banks to share accountholder’s data with third parties and for an independent Open Banking Implementation Entity (OBIE). This entity has played a central role in developing the U.K.’s open banking ecosystem. But it will be replaced by a regulator with more powers to continue open banking, and with initiatives like open finance.
EU Digital Markets Act Applies to Big Tech and Not-So-Big Tech
The new European Digital Markets Act, which aims to rein in Big Tech, may enter into force by the end of the year after the European Union institutions reached an agreement on the final text of the bill. Most of the debate has focused on the definition of gatekeepers such as Big Tech firms that meet certain size and revenue thresholds, including Meta, Google, Apple, Amazon, Microsoft.
Big Tech Firms Have 6 Months Before New EU Competition Rules Kick In
The Council and the European Parliament reached a provisional political agreement on the Digital Markets Act (DMA). Final technical work will be finalized soon. But this agreement marks the beginning of the countdown for the implementation of this new legislation. The DMA defines clear rules for large online platforms, called gatekeepers, and it will change the way Google, Meta, Amazon, Apple, Microsoft and others conduct business in Europe.
Gopuff Teams With UK Grocer Morrisons for Instant Delivery
Instant delivery platform Gopuff is teaming up with U.K. supermarket giant Morrisons to quickly bring thousands of goods, including locally-made food products, to consumers across the country. The multi-year partnership adds fresh food, Morrisons-branded items, and other brand name products to Gopuff’s platform for delivery in 30 minutes or less.
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