Bank of England investigates Google outage

What happened: The Bank of England is investigating a Google Cloud outage that knocked offline at least half a dozen of Britain's biggest banks. Google blamed a "power event" at a London data centre and said the issues were resolved. Key numbers: At least six banks affected, including Lloyds Bank, HSBC, Bank of Scotland, NatWest, Why it matters: City regulators can require an independent review or impose restrictions on Google's work with financial firms. MPs pressed Andrew Bailey and Nikhil Rathi to explain their response and raised the prospect of compensation for affected customers. Market: -0.5% today ($80.55), -0.5% YTD, 0.6x vol — as of 07:45 UTC

The Bank of England is investigating a Google Cloud outage that knocked offline at least half a dozen of Britain's biggest banks. Google blamed a "power event" at a London data centre and said the issues were resolved.

City regulators can require an independent review or impose restrictions on Google's work with financial firms. MPs pressed Andrew Bailey and Nikhil Rathi to explain their response and raised the prospect of compensation for affected customers. Market: -0.5% today ($80.55), -0.5% YTD, 0.6x vol — as of 07:45 UTC