France’s data regulator CNIL has issued some recommendations for French services that handle health data, as Mediapart first reported. Those services should avoid using American cloud hosting companies altogether, such as Microsoft Azure, Amazon Web Services and Google Cloud.
Those recommandations follow a landmark ruling by Europe’s top court in July. The ruling, dubbed Schrems II, struck down the EU-US Data Privacy Shield. Under the Privacy Shield, companies could outsource data processing from the EU to the US in bulk. Due to concerns over US surveillance laws, that mechanism is no longer allowed.
The CNIL is going one step further by saying that services and companies that handle health data should also avoid doing business with American companies — it’s not just about processing European data in Europe. Once again, this is all about avoiding falling under U.S. regulation and rulings.
The regulator sent those recommendations to one of France’s top courts (Conseil d’État). SantéNathon, a group of organizations and unions, originally notified the CNIL over concerns about France’s Health Data Hub.
France is currently building a platform to store health data at the national level. The idea is to build a hub that makes it easier to study rare diseases and use artificial intelligence to improve diagnoses. It is supposed to aggregate data from different sources and make it possible to share some data with public and private institutions for those specific cases.
The technical choices have been controversial as the French government originally chose to partner with Microsoft and its cloud platform Microsoft Azure.
Microsoft, like many other companies, relies on Standard Contractual Clauses for EU-US data transfers. But the Court of Justice of the EU has made it clear that EU regulators have to intervene if data is being transferred to an unsafe country when
- LinkedIn published its Top Startups of 2020, which features the startups its users most want to work for in different countries.
- Featured companies in Europe include transportation startups such as Arrival and Dott; neo-banks such as Revolut and N26; and health startups like Doctolib.
- We’ve got exclusive data on the top startups across six European countries, and ranked the first five for each.
- Visit Business Insider’s homepage for more stories.
LinkedIn has released its annual ranking of the hottest startups to work for.
The list is based on how half a billion LinkedIn users interact with startups on the site across four areas: user engagement with the company and its employees, employee growth, job applications started on LinkedIn, and how often people working for firms on LinkedIn’s top companies list — a different list of firms with over 500 employees — move over to these startups.
Business Insider got exclusive data from LinkedIn on its top-ranked startups across six European countries — the United Kingdom, France, Germany, Spain, Italy, and the Netherlands.
To be eligible for the list, companies had to be founded in the last seven years, privately held, and headquartered in the country on whose list they appear. The firms had to have a minimum of 50 employees — so the list excludes some smaller startups.
Scroll down to see the list of the top 30 startups across Europe. We’ve ranked the top five from each of the six European countries below.
Arrival is the top startup in the UK
Founded in 2015, Oxford-based startup Arrival is working on prototypes for electric vehicles including buses and delivery vans.
Arrival’s position in the ranking reflects the rise of electric vehicle sales in Europe in the first quarter of 2020. According to the latest McKinsey report, the number
- Morgan Stanley research teams, in a research note, outline the activity-based stocks that are still discounted for a post-COVID recovery across five different sectors.
- Morgan Stanley recommends investors think about individual stocks instead of sectors.
- “The bifurcation between winners and losers within sectors is arguably best exemplified within Retail – in aggregate, the sector has been a strong outperformer this year, but this largely reflects single-stock stories,” Morgan Stanley’s equity analyst, Jamie Rollo, said in a note.
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Morgan Stanley brought together five separate equity research teams to understand which European activity-based stocks damaged by the pandemic were still discounted for a post-COVID recovery, in a new research note released this week.
The investment bank is thinking ahead to recovery based on its biotech team expecting phase three vaccine results by November and a “broadly available vaccine” toward the end of the first quarter in 2021.
“Once a vaccine is widely available, we expect mobility to pick up significantly and activity-based stocks to benefit,” said Morgan Stanley’s equity analyst, Jamie Rollo, in the report.
The new research report finds that broadly most activity-based sectors seem cheap when comparing the 2022 EBITDA forecast to historic results.
Despite most sectors appearing cheap, Morgan Stanley recommends investors think about individual stocks instead of sectors.
“The bifurcation between winners and losers within sectors is arguably best exemplified within retail – in aggregate, the sector has been a strong outperformer this year, but this largely reflects single-stock stories,” Rollo said.
Sector stock picks
Here are some of the stocks Morgan Stanley recommends considering and avoiding within each sector for a post COVID-19 recovery.
Leisure & Hotel Stocks
Analysts Reiterate Overweight Rating on Abbott Laboratories following European Approval of Freestyle Libre 3
On Monday, J.P. Morgan and Morgan Stanley reiterated their Overweight ratings on Abbott Laboratories (ABT). The company’s newest continuous glucose monitor (CGM), the Freestyle Libre 3, recently received a CE mark of approval. The system has shown to be a major evolutionary improvement over the current Libre 2 which leads analysts to believe that there are multiple long-term growth opportunities for Abbott.
The next-gen Libre CGM, Libre 3 will leverage Bluetooth technology to have continuous, real-time glucose readings automatically delivered to your smartphone every-minute (vs user scanning required in the past) allowing for unsurpassed 14-day accuracy and a ~70% size reduction from the Libre 1 & 2, becoming the world’s smallest and thinnest sensor.
The FreeStyle Libre 3 system was designed to fit perfectly into people’s everyday lives, allowing users to check their glucose as often as they like by just looking on their phones. This innovation allows the users to live a more comfortable life and gain a deeper understanding of their glucose levels with the real-time data given by the smartphone. The cost of the FreeStyle Libre 3 will also be the same as previous generations of the device.
The Senior Vice President of Diabetes Care for Abbott Laboratories mentioned, “Abbott won’t stop innovating when there’s room to raise the bar. We’ve done that again with FreeStyle Libre 3, the smallest sensor that delivers life-changing benefits and best-in-class accuracy,”.
The transition from Abbott’s current system to its next-gen Libre CGM, Libre 3, shouldn’t require any extra hassle. The Libre 3 system will have identical algorithms and chemistry compared to the Libre 2.
As highlighted by the analysts at JPMorgan, the ”Libre 3 essentially adds three things: (1) it shrinks Libre’s already small footprint to the size of two stacked pennies. The approval is for wear on the arm,