Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[Shipping] The U.K. is reportedly considering new laws to register shipping vessels in the U.K. in a bid to rival the dominance that Singapore has in the industry. The shipping tax structure change could result in £3.7 billion worth of benefits, including 2,500 direct jobs being created.
Over60: F.T. Exclusive
[Economy] U.S. retail sales declined by 1.1% in November, the first drop in seven months as consumers pulled back during the holiday season.
[Transport] Bolt, a European competitor to ride-hailing giant Uber, has raised €150 million ($182 million) to bolster its platform's safety through facial recognition and artificial intelligence in a round of funding led by D1 Capital Partners.
[Regulatory] The European Commission unveiled fresh regulations applicable to technology companies. New restrictions will govern their use of customers' data and prevent firms from ranking their services above competitors' in search results and app stores. Aside from yearly monitoring checks, it is proposed that if companies refuse to obey, they could be forced to hand over up to 10% of their European turnover.
[Markets] MSCI has announced that it will drop seven companies from its Emerging Markets Index. The seven companies have all been accused of having ties to the Chinese military by the U.S. Government. Some of the companies include SMIC, China's largest chipmaker.
Over60: Bloomberg Quint