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ReutersFederal data privacy laws gain support in US Congress, but critics remain
A drive for the United States' first major data privacy legislation has bipartisan support in the divided Congress ahead of a House of Representatives committee hearing on Thursday, though it faces criticism from businesses and privacy advocates. The American Privacy Rights Act, cosponsored by Democratic Senator Maria Cantwell and Republican Representative Cathy McMorris Rodgers, sets a national data privacy standard that would allow people to request access to and delete their data held by companies, and opt out of targeted advertising. It would also create a national data broker registry.
ReutersUK retail sales go into reverse this month, CBI survey shows
The Confederation of British Industry's monthly retail sales balance, which measures volumes compared with a year ago, fell to -24 in June from +8 in May. "Unseasonably cold weather in June may have played a role, but its notable that internet retail sales fell sharply in our survey, too," said Alpesh Paleja, interim deputy chief economist at the CBI. The survey's gauge of expected sales next month showed a reading of -9, indicating a modest drop in sales volumes compared with a year ago, compared with -4 in last month's survey.
ReutersNo prospective euro members meet criteria to join, ECB says
None of the countries that have yet to join the euro meet all accession criteria and many have even diverged from the long-set rules of euro membership, the European Central Bank said on Wednesday in a report on prospective members. "Reflecting challenging economic conditions, limited progress has been made as regards compliance with the convergence criteria," the ECB said in a biennial progress report on Bulgaria, the Czech Republic, Hungary, Poland, Romania and Sweden. But the issues are far deeper than just meeting economic criteria, the ECB added.
