Category: regulators

Goodyear to Recall 173,000 Tires After Pressure From US Regulators

WASHINGTON—Goodyear said on Tuesday it would recall 173,000 G159 tires after U.S. auto safety regulators asked it to replace them. The National Highway Traffic Safety Administration (NHTSA) opened a preliminary investigation in 2017 to review allegations raised in a lawsuit that some tires had defects causing motorhome crashes resulting in deaths and injuries. NHTSA in…


Regulators Tell Exchanges to Get Ready for ‘Hybrid’ Working

LONDON—Global securities regulators began reviewing on Thursday whether to toughen up operational resilience at exchanges and other market infrastructure in light of the extreme trading volatility in 2020 when economies went into lockdown amid the pandemic. While much trading is already electronic, the curbs led to the New York Stock Exchange and London Metal Exchange…


Regulators Not up to Speed on Banks’ Digital Marketplaces, EU Watchdog Says

LONDON—Regulators have little understanding of risks from banks creating digital marketplaces with tech companies and a framework is needed to spot potential contagion if things go wrong, the European Union’s banking watchdog said on Tuesday. The European Banking Authority’s warning is the latest sign that financial regulators are starting to pay more attention to Big…


Tesla to Work With Global Regulators on Data Security: Musk

SHANGHAI—Electric vehicle maker Tesla Inc. will work with global regulators to ensure data security, Chief Executive Elon Musk told an industry event in China on Friday. Tesla, which assembles vehicles for the Chinese market in Shanghai, has been under scrutiny in China this year over its storage and handling of customer data. Cars are being…


Court Win for EU Regulators Over Crackdown on $825 Million Belgium Tax Scheme

LUXEMBOURG—EU competition regulators secured a big win on Thursday when Europe’s top court backed their crackdown on Belgium’s 700-million-euro ($825-million) tax scheme for Magnetrol, BP and more than 30 other multinationals. European competition chief Margrethe Vestager launched a fight against sweetheart tax deals nearly a decade ago. She has won three cases at a lower…


Snap Hires First Global Head of Platform Safety

Snapchat’s owner has hired a longtime online safety advocate as its first global head of platform safety, Snap Inc. told Reuters on Wednesday, as the company continues to ramp up efforts around user safety and as social media firms face mounting global pressure from regulators and lawmakers. Snap said that after a long search it…


Apple’s App Store Changes Face Scrutiny of Regulators, Lawmakers

In the space of a week, Apple Inc. made two sets of changes to its App Store rules, which are the subject of lawsuits, regulatory probes, and legislation around the world, but the tweaks do not address the biggest concerns raised. Lawmakers and regulators are considering dismantling the App Store business model, an outcome that…


Chinese Regulators On Mission to Rule Over Technology Giants

Commentary Beijing has begun to rein in China’s technology companies, issuing fines and instructing firms to change their corporate structure due to anti-competitive behavior and other transgressions. But a common thread across recent regulatory actions against the technology sector, regardless of the allegations on the surface, is the Chinese Communist Party (CCP)’s desire to control…


Tesla to Recall 135,000 US Vehicles Under Pressure From Auto Safety Regulators

WASHINGTON—Tesla Inc has agreed to recall 134,951 Model S and Model X vehicles with touchscreen displays that could fail and raise the risk of a crash after U.S. auto safety regulators sought the recall last month, according to a recall posted on a government website Tuesday. The National Highway Traffic Safety Administration (NHTSA) made the…