Page 30 - European Union

UK regulator considers probe into Apple's, Google's mobile browsers

The CMA's independent inquiry group also proposed that no further action be taken on cloud gaming given primary concerns had been addressed

ArcelorMittal delays green capex in EU, cites regulatory uncertainties

"We are operating in a difficult market, and there are a number of policy uncertainties that are impacting the industry," the company said in an emailed statement

European companies cut jobs amidst difficult economy, weak demand

Companies across Europe are being forced to freeze hiring or cut jobs on difficult economy and persistent weak demand for many products

EU to investigate Amazon next year, its share price drops by 3% post report

Amazon could face a substantial fine of up to 10 per cent of its annual global revenue if it is found guilty of breaching the European Union's Digital Markets Act

Amazon likely to face investigation under EU tech rules next year

The timing and decision on whether to go ahead with an investigation will be taken by incoming EU antitrust chief Teresa Ribera in the coming months,

France, Germany, other EU nations team up to develop air defence system

Many European countries have ramped up defence spending in recent years, spurred by Russia's war in Ukraine and fears the United States may cut its commitments to protect the continent

EU softens stand on major sticking point in Baku UN climate talks

The European Union on Monday urged "wealthier high-emitting" developing nations to voluntarily contribute to climate finance, signaling a shift from its earlier position that had stalled progress in the UN climate talks. Securing a new climate finance package to help developing countries reduce emissions and adapt to climate change is the top priority of this year's UN climate talks. Developing nations need at least USD 1.3 trillion annually to tackle worsening climate impacts. The EU and some developed countries argue that such a large sum can only be achieved if "wealthier high-emitting" developing nations, like China and Gulf states, also contribute. However, this proposal has been a major sticking point, as many developing countries view it as an attempt to shift responsibility away from those who historically benefited from industrialization. European Commissioner for Climate Action, Wopke Hoekstra, suggested a compromise on Monday, proposing voluntary contributions from these

Taiwan seeks economic partnership with EU to boost semiconductor ties

Speaking at a Taiwan-EU investment forum in Taipei, Lai said that facing the threat of expanding authoritarianism, Taiwan and the EU must form a strong democratic umbrella and build secure supply

French farmers mobilise for protests over EU-Mercosur trade agreement

French farmers are mobilising for widespread protests called Monday targeting the EU-Mercosur trade agreement. They argue the deal threatens their livelihoods by allowing a surge of South American agricultural imports produced under less stringent environmental standards. Protests are planned nationwide, including gatherings at prefectures and traffic circles. One group blocked a highway south of Paris on Sunday night with tractors, and scattered actions have been held recently building up to this week's protests. The European Union and the Mercosur trade bloc, composed of Brazil, Argentina, Paraguay, Uruguay and Bolivia, reached an initial agreement in 2019, but negotiations stumbled due to opposition from farmers and some European governments. The new protests come amid fears the agreement could be finalized at the G20 summit in Brazil on Nov. 18-19, or in the coming weeks. EU farm ministers are also meeting in Brussels on Monday. Leading the charge of the new protests are unions

European Union corners India, developing world over carbon tax at COP29

The tax, or CBAM, is to be imposed by EU in 2026 on products whose manufacturing processes do not follow certain emission standards

EU slaps Meta with 800 mn euro fine over 'abusive' Marketplace practices

European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday for what they call abusive practices involving its Marketplace online classified ads business. The European Commission, the 27-nation bloc's executive branch and top antitrust enforcer, issued the 797.72 million euro ($841 million) penalty after its long-running investigation found that the company abused its dominant position and engaged in anti-competitive behaviour. Brussels had accused Meta of distorting competition by tying its online classified ad business to its social network, automatically exposing Facebook users to Marketplace whether they want it or not" and shutting out competitors. It was also concerned that Meta was imposing unfair trading conditions with a terms of service that authorised the company to use ad-related data generated from competitors who advertise on Facebook or Instagram to benefit Marketplace. Meta said in a statement that the decision fails to .

Cross-border challenges widen wealth gap between Europe, US: IMF study

If trade barriers between EU countries were lowered to the level that existed between US states, it would boost European productivity by seven percentage points

EU tells Apple to end geo-blocking on its services such as App Store

The EU said Apple had one month to propose commitments on it would address the geo-blocking it had identified

EU High Representative condemns Israeli airstrike on Jabalia in Gaza

He stressed that the use of hunger as a weapon of war contradicts international humanitarian law

Euro hits lowest since June against dollar, US tariff may hurt EU economy

Market participants flagged that the sensitivity of the euro to the threat of higher U.S. import tariffs was evident late Friday.

Russian oil finds way to Europe; India now biggest exporter of fuel to EU

India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine. However, a lack of a policy on refined oil produced from Russian crude meant that countries not imposing sanctions could import large volumes of Russian crude, refine them into oil products and legally export them to the price-cap coalition countries. India has become the second biggest buyer of Russian crude oil since the invasion, with purchases rising from less than one per cent of the total oil imported in the pre-Ukraine war period to almost 40 per cent of the country's total oil purchases. The rise was primarily because Russian crude oil was ...

Apple to face first fine under EU's Digital Markets Act for Big Tech

Watchdogs are readying the penalty after the iPhone maker failed to allow app developers to steer users to cheaper deals and offers outside of the App Store

S Korea fines Meta $15 mn for illegally collecting info from Facebook users

South Korea's privacy watchdog on Tuesday fined social media company Meta 21.6 billion won ($15 million) for illegally collecting sensitive personal information from Facebook users, including data about their political views and sexual orientation, and sharing it with thousands of advertisers. It was the latest in a series of penalties against Meta by South Korean authorities in recent years as they increase their scrutiny of how the company, which also owns Instagram and WhatsApp, handles private information. Following a four-year investigation, South Korea's Personal Information Protection Commission concluded that Meta unlawfully collected sensitive information about around 980,000 Facebook users, including their religion, political views and whether they were in same-sex unions, from July 2018 to March 2022. It said the company shared the data with around 4,000 advertisers. South Korea's privacy law provides strict protection for information related to personal beliefs, politic

Russia suspected of plotting to send incendiary devices to US on planes

Governments across Europe have been raising alarm over a growing threat of Russia-sponsored acts of sabotage and destabilization since the Kremlin launched its full-scale invasion of Ukraine

South Korea, EU worry about Russia's technology transfer to North Korea

South Korea and the European Union on Monday strongly condemned North Korea's reported dispatch of troops to aid Russia's war against Ukraine and expressed concerns that Russia could reward North Korea with transfers of sensitive technology to enhance its nuclear and missile programs. North Korea's troop deployment, confirmed by the US and NATO, threatens to expand the almost 3-year-long war and is causing security jitters in South Korea and elsewhere about what Russia could give North Korea in return. After a meeting in Seoul, South Korean Foreign Minister Cho Tae-yul and EU foreign policy chief Josep Borrell issued a joint statement condemning in the strongest possible terms North Korea's deployment and voicing worries about Russia's possible provision of materials and technology to North Korea in support of its military objectives. We are also deeply concerned about the possibility for any transfer of nuclear- or ballistic missile-related technology to the DPRK, which would ...