Chris Low of FTN Financial rounds up the day on Wall Street
European Data Regulation Comes Into Force
The EU's General Data Protection Regulation comes into force today. It's a new EU law that changes how personal data can be collected and used. There are already issues: Europeans have not been able to access some US websites because the US companies have not come into line with the regulation. We ask Greg Sparrow of CompliancePoint in Atlanta whether some US companies had underestimated the scale of the change. Police in Malaysia say the $28 million in cash seized from homes linked to the former prime minister, Najib Razak, took twenty-two bank tellers three days to count. Mr Najib is being investigated over corruption allegations. Karishma Vaswani gives us the latest. Fuel prices in India have risen for the 12th straight day. Yogita Limaye has been hearing about the effect on people and businesses in Mumbai. And a couple's private conversation was recorded by Amazon's Echo device and emailed to someone, all without it being instructed to do so. Rick Henderson of Pocket Lint explains how it happened.
Update: President Trump Calls off Summit with North Korea
The summit between the USA and North Korea is called off by President Trump. Jonathan Cheng, Wall Street Journal Bureau Chief in the Seoul considers whether South Korea is actually the biggest loser. Cary Leahy of Decision Economics in New York assesses the market impact.
India Shuts Smelting Plant After Deadly Protests
Officials in the southern Indian state of Tamil Nadu have ordered the closure of a major copper smelting plant. The order came after police killed 13 people amid protests by residents in the port city of Tuticorin. For months demonstrators have been voicing their anger over what they believe is the factory's pollution risk. We get the latest from the BBC's Sameer Hashmi in Mumbai. US sanctions on Russia last month appear to be having repercussions: Russian aluminium producer Rusal have axed a management team appointed by oligarch Oleg Deripaska, one of seven individuals named in in the sanctions. Metals analyst Uday Patel gives us his take. Italy's Prime minister-designate Giuseppe Conte is trying to assemble his cabinet. We get the latest from the BBC's James Reynolds in Rome. The EU's General Data Protection Regulation comes into force on Friday. Nigel Cassidy explains why it will apply to European companies, as well as any organisation with customers in the EU. And with hikes in airfares from the UK to Kiev ahead of Liverpool's Champions League final against Real Madrid in the Ukrainian capital, we hear about the long drive ahead for some fans.
Update: Brexit: Technology-based customs system 'could cost £20bn'
The UK's tax body says a post-Brexit customs arrangement could cost businesses up to twenty billion pounds a year. Our business editor Simon Jack gives us the details. Plus, we get a markets update from Doug McIntyre of 24/7 Wall Street.