Page 36 - Europe

US, Europe growing alarmed by China's rush into legacy semiconductors

President Joe Biden implemented broad controls over China's ability to secure the kind of advanced chips that power artificial-intelligence models and military applications

Europe economy shows modest growth after months of stagnation as rate hikes

The European economy grew modestly in the most recent quarter, breaking out of a months of stagnation or contraction as higher interest rates designed to fight inflation make it more expensive for households and businesses to borrow, invest and spend. The 20 countries that use the euro currency and their 346 million people saw 0.3% growth in the April-to-June period, the EU statistics agency Eurostat reported Monday. That's an improvement over zero growth in the first quarter of this year and a slight decline in fourth quarter of last year, but not by much. A revision raised figures for the first quarter from a decline of 0.1%, wiping out two straight quarters of declining output. Inflation in the eurozone, meanwhile, continued its gradual decline, falling to 5.3% in July from 5.5% in June. Europe's economic growth got a boost by 0.5% growth in France and 0.4% in Spain, where lower inflation has helped lift consumer spending power. The French figure, however, was increased by a ...

Tata Steel Q1 results: Net profit plunges 92% but still beats estimates

Net profit was Rs 633.95 crore and revenue from operations Rs 59,489.66 crore, 6 per cent lower from a year ago

Madrid, Rome shut down tourist places as temperature rises to 40 degrees

The high heat in the continent is a result of an anti-cyclonic high pressure system, named 'Cerberus' by the Italian Meteorological Society

Russia launches intense attacks across Ukraine, targets southern port city

Russia launched an intense series of night-time air attacks sending drones and missiles toward places across Ukraine, and targeting the southern port city of Odesa for a second night in a row, Ukrainian officials said Wednesday. Meanwhile, Russian emergency officials in Crimea said that over 2,200 people were evacuated from four villages because of a fire at a military facility. The fire also caused the closure of an important highway, according to Sergey Aksyonov, the Russia-appointed head of the region, which was annexed in 2014. He did not specific a cause for the fire at the facility in Kirovsky district, which came two days after an attack on a bridge linking Russia to the peninsula that the Kremlin has blamed on Ukraine. A difficult night of air attacks for all of Ukraine, said Serhii Popko, head of the Kyiv City Military Administration in a statement on Telegram. Ukrainian authorities reported more drones and missiles sent against more parts of Ukraine than in recent ...

European development bank chief takes reform agenda to G20 talks in India

The President of the European Bank for Reconstruction and Development (EBRD), of which India is a shareholder, will arrive in India on Sunday for a G20 finance summit with the reform agenda for multilateral development banks (MDBs) high on the list of priorities. Odile Renaud-Basso, the first woman head of an MDB as EBRD president, will begin her four-day visit in Gandhinagar for the Finance Ministers and Central Bank Governors gathering. From Gujarat, she is scheduled for a high-level roundtable with the Confederation of Indian Industry (CII) in New Delhi to discuss opportunities for the Indian private sector in EBRD countries of operations in Central Asia, Middle East and North Africa (MENA), Turkey and Eastern Europe. The key discussion which is relevant for us is everything related to the MDB reform agenda, which is very prominent in the G20 discussion now, said Renaud-Basso during a pre-visit interview. India has a very important role to play as the president of the G20 at a t

Biden closes out his Europe trip by showcasing new NATO member Finland

Finland joined as NATO's newest member earlier this year, an entry that effectively doubled the alliance's border with Russia

Biden is closing out his Europe trip by showcasing new Nato member Finland

President Joe Biden will close out his five-day trip to Europe on Thursday standing alongside Nordic leaders in an effort to show NATO's expanding power and influence against a burgeoning Russia. The brief stop in the shoreline Finnish capital is the coda to a Biden tour that was carefully sketched to highlight the growth of the military alliance that the president says has fortified itself since the Russian invasion of Ukraine. Finland joined as NATO's newest member earlier this year, an entry that effectively doubled the alliance's border with Russia. Biden arrived in Helsinki after what he deemed a successful annual NATO summit in Vilnius, Lithuania, where allies agreed to language that would further pave the way for Ukraine to join the military alliance. Ukrainian President Volodymyr Zelenskyy called the summit's outcome a significant security victory" for his country but nonetheless expressed disappointment Kyiv did not get an outright invitation to join NATO. Biden and other .

China-based hackers breached European govt email accounts: Microsoft

A China-based hacking group has breached email accounts linked to government agencies in Western Europe, Microsoft Corp. says. In a blog post published Tuesday, Microsoft said the group, which it identified as Storm-0558, focuses on acts such as espionage and data theft. The group gained access to email accounts affecting about 25 organisations including government agencies and to accounts of individuals linked to these organisations, and had gone undetected for about a month until customers complained to Microsoft about abnormal mail activity. We assess this adversary is focused on espionage, such as gaining access to email systems for intelligence collection, Charlie Bell, Microsoft's executive vice president of security, said in a separate Microsoft post. The hackers carried out the breach by forging authentication tokens a piece of information used to verify the identity of a user required to access the email accounts. Microsoft has since dealt with the attack and informed ..

Amazon pushes back against Europe's pioneering new digital rules

Amazon is disputing its status as a big online platform that needs to face stricter scrutiny under European Union digital rules taking effect next month, the first Silicon Valley tech giant to push back on the pioneering new standards. The online retailer filed a legal challenge with a top European Union court, arguing it's being treated unfairly by being designated a very large online platform under the 27-nation bloc's sweeping Digital Services Act. Amazon, whose filing to the European General Court was made available Tuesday, is the second company to protest the classification. German online retailer Zalando filed a legal claim two weeks ago with a similar argument. The Digital Services Act imposes new obligations on the biggest tech companies to keep users safe from illegal content and dodgy products, with violations punishable by potentially billions in fines or even a ban on operating in the EU. The rules, which will take effect on Aug. 25, are expected to help Europe maintai

Europe's Airbus opens new assembly line for small jets in A380's shadow

The A321neo is the largest version of the A320 series of jets, which was relaunched with new engines in 2010 just in time for a boom in demand stoked partly by low interest rates

Citigroup downgrades US stocks amid recession risks, upgrades Europe

Strategists at the brokerage downgraded UK stocks on a lack of exposure to growth stocks and a stronger pound

Why Europe can't give weapons to Ukraine quickly even after 1.5 yrs of war

The calculation matters beyond the corporate offices of Europe's defence industry, which collectively generates about €120 billion a year in revenues

Switzerland to become net importer of cheese this year for first time

Switzerland will import more cheese than it exports this year for the first time, according to the head of the country's dairy association. The opening up of the Swiss milk market has put a squeeze on domestic producers in recent years, prompting some to give up, Boris Beuret told Geneva-based newspaper Le Temps in an interview published Saturday. Beuret said measures need to be taken to ensure Switzerland famous worldwide for high-quality cheese varieties such as Gruyre and Emmentaler can continue to produce for its own population. If not, then we will end up importing (cheese), which would be absurd economically, socially and ecologically, he was quoted as saying.

Dutch PM announces resignation after govt disagreement on migration policy

Dutch Prime Minister Mark Rutte has announced his resignation because of a dispute in his ruling coalition about how to rein in migration. The decision by the Netherlands' longest-serving premier means the country will face a general election later this year for the 150-seat lower house of Parliament. "It is no secret that the coalition partners have very different views on migration policy," Rutte told reporters in The Hague on Friday. "And today, unfortunately, we have to draw the conclusion that those differences are irreconcilable. That is why I will immediately ... offer the resignation of the entire Cabinet to the king in writing.

Netherlands' coalition govt collapses over disagreement on asylum policy

The government was formed a year-and-a-half ago, but parties have been diametrically opposed to migration policy, said the report

Biden to embark on Europe trip from July 9-13 to bolster Nato alliance

During his trip from July 9-13, President Biden will first travel to London, United Kingdom for engagements with King Charles III and Prime Minister Rishi Sunak to further strengthen relationship

174 Indians win Erasmus Mundus scholarships for higher studies in Europe

In a biggest ever annual selection of Indian students, as many as 174 candidates -- over 50 per cent of them women -- have been awarded the prestigious Erasmus Mundus scholarships for the degree programmes starting in the academic year 2023-24. The selected Indian students of the Erasmus Mundus 2023-2025 batch, under the fully-funded scholarship programme by the European Union, will have the opportunity to study and conduct research in at least two universities located in different European countries and obtain a joint, double or multiple degree. The delegation of the European Union to India on Friday organized an event for the departing Indian students to mark this milestone. In 2022, 161 Indian students received the Erasmus Mundus scholarship. "I am pleased to share that 174 Indian students have won the Erasmus scholarship this year, beating the figure of 161 Indian students from last year. Given how competitive the Erasmus programme is, this deserves a big applause. "The Erasmus

Global mergers & acquisitions plunge in Q2 but dealmakers see green shoots

NEW YORK/LONDON (Reuters) -Global mergers and acquisitions (M&A) activity fell 36% year-on-year in the second quarter, but investment bankers and lawyers expressed optimism that the stock market's recovery will gradually restore chief executives' dealmaking confidence.

Asus Zenfone 10 launched on June 29, check features, price, and more

ASUS launched its all-new ZenFone 10 on June 29 in European countries. The company has introduced wireless charging for the first time