European Press Roundup: Irish JPMorgan Subsidiary Fined, France Short of Emission Targets

In Europe today, weak consumer sentiment in Germany is set to extend to a second month, while consumers in France turned more optimistic. Read about the above topics on Dow Jones Newswires or WSJ.com.

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An Irish subsidiary of U.S. banking giant JPMorgan has been fined EUR1.6 million for regulatory breaches relating to the outsourcing of fund administration activities. JPMorgan Administration Services was found on four occasions to have breached outsourcing requirements set by the Central Bank of Ireland. -The Irish Times

France is falling short of the emission targets it set when it signed the Paris agreement, according to the country's climate council. Carbon emissions aren't decreasing as fast as expected and France will have to triple its effort. -Les Echos

The German government plans to cap rent increases on state-owned apartments, limiting lease prices to EUR10 per square meter. The move comes after the city of Berlin last week agreed to freeze rent prices for five years. -SZ

Boris Johnson, the front-runner to replace Theresa May as leader of the Conservative party and prime minister of the U.K., has pledged to take Britain out of the EU by the Oct. 31 deadline. Mr. Johnson said Brussels must drop its insistence on an Irish backstop and added that he won't sign off on a GBP39 billion divorce until a trade deal is struck. -The Times of London

German soccer club SpVgg Unterhaching is planning an initial public offering for the summer, making it potentially the second German team after Borussia Dortmund to go public. SpVgg Unterhaching wants to use proceeds from the IPO to return to the Bundesliga's second tier by 2022. -Boersen-Zeitung

Apple Pay will be launched in Portugal Wednesday backed by a number of national banks and fintech companies, including Monese, N26 and Revolut. -Jornal de Negocios

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(END) Dow Jones Newswires

June 26, 2019 07:29 ET (11:29 GMT)

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