EUROPEAN COUNTRIES BACK OUT AFTER EXECUTION

Ambassadors for France and other European countries pulled out of a business forum planned to start Monday with Tehran’s foreign minister, which has now been canceled, amid international outcry over the execution of journalist Rouhollah Zam. Zam, 47, was convicted in Iran of stirring up dissent during anti-government protests in 2017 and was hanged Saturday after Iran’s supreme court upheld a death sentence against him. In June, he was found guilty of “corruption on earth.” The journalist had been living in exile in France and was reportedly kidnapped after traveling to Iraq last year. SOURCE: politico.eu

EU JOB LAWS ‘TOO RIGID’

Europe will need to rewrite its employment and bankruptcy laws if it wants to create more technology champions, according to the Dutch mogul behind one of this year’s most successful US listings. Frank Slootman, chief executive of the cloud software provider Snowflake, said Silicon Valley founders had a huge advantage over their European counterparts because America had fewer legal protections for workers. SOURCE: thetimes.co.uk

PRESSURE MOUNTS ON US TECH GIANTS

U.S. tech giants are bracing for new laws that could force sweeping changes to how they operate in Europe, with significant fines or, in extreme cases, orders to break up the worst offenders. The new Digital Markets Act, set to be proposed by the European Union on Tuesday, targets so-called gatekeeper companies, platforms with the power to control distribution in their markets. SOURCE: bloomberg.com

US WAKES UP TO LNG THREAT

The American liquefied natural gas industry is expected to face increased competition in the European energy market next year, as Algeria and Russia look to expand their supply on the continent. Despite opposition from the United States, Russia’s Nordstream 2 pipeline into Germany is expected to be completed by the end of June, S&P Global Platts said Friday. That follows the Trans Adriatic Pipeline coming online last month, increasing capacity between the Caspian Sea and Italy. SOURCE: houstonchronicle.com

PHOTO: Rouhollah Zam Reuters