10-08-2020 19:09 via uk.finance.yahoo.com

Europe in talks with US over controversial data transfer deal

The European Union has begun critical talks with the US to rebuild a data-sharing deal that covers 800m people on both sides of the Atlantic. The Privacy Shield, the mechanism that allows thousands of companies to freely transfer personal data between the EU and the US, was invalidated after a landmark decision from Europe’s top court on July 16, dealing a blow to thousands of companies who depend on it to conduct ordinary business. Wilbur Ross, US Secretary of Commerce, said: “The E
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