Page 40 - European Union

EU hits Meta with $102 mn privacy fine over 2019 password security lapse

Meta was punished Friday with a fine worth more than USD 100 million from the social media giant's European Union privacy regulator over a security lapse involving passwords for Facebook users. The Irish Data Protection Commission said it slapped the US tech company with the 91 million euro (USD 101.6 million) penalty following an investigation. The watchdog started investigating in 2019 after it was notified by Meta that some passwords had been inadvertently stored internally in plain text, which means they weren't encrypted and it was possible for employees to search for them. Deputy Commissioner Graham Doyle said it's widely accepted that user passwords should not be stored in plain text, "considering the risks of abuse. Meta said a security review found that a subset of Facebook users' passwords were temporarily logged in a readable format. We took immediate action to fix this error, and there is no evidence that these passwords were abused or accessed improperly, the company

As war in Ukraine enters critical period, EU moves ahead without US

As the war in Ukraine enters a critical period, the European Union has decided that it must take responsibility for what it sees as an existential threat to security in its own neighbourhood and is preparing to tackle some of the financial burden, perhaps even without the United States. EU envoys have been working in Brussels this week on a proposal to provide Ukraine with a hefty loan package worth up to 35 billion euros (USD 39 billion). It was announced by European Commission President Ursula von der Leyen during a trip to Kyiv last Friday. Crucially, this loan will flow straight into your national budget," she told President Volodymyr Zelenskyy. It will provide you with significant and much-needed fiscal space. You will decide how best to use the funds, giving you maximum flexibility to meet your needs. Zelenskyy wants to buy weapons and bomb shelters and rebuild Ukraine's shattered energy network as winter draws near. In international matters, particularly involving major ...

'EU is failing to dissuade African migrants despite spending billions'

The European Union is failing to draw important lessons on how to discourage migrants from Africa leaving for Europe without authorization and could do more to limit abuses against people trying to make the journey, the EU's financial watchdog warned on Wednesday. The findings come in a European Court of Auditors report into the bloc's Emergency Trust Fund for Africa, a multi-billion-euro program hastily set up in 2015 after more than 1 million migrants arrived on Europe's shores, many of them fleeing war in Syria, overwhelming services in Italy and Greece. It was meant to help tackle the root causes of migration in Africa, like poverty, conflict or unemployment. At first, 1.8 billion euros ($2 billion) was available to distribute on hundreds of projects, but that amount has swelled to about 5 billion euros ($5.6 billion) today. The fund is managed by the EU's powerful executive branch, the European Commission. Despite the lessons learned the commission is still unable to identify

Google files complaint to EU over Microsoft's Azure cloud practices

Google pointed to 2023 study by cloud services organisation CISPE which found that European businesses and public sector bodies were paying up to $1.12 bn per year on Microsoft licensing penalties

Europe's racial disparities cannot be untied from historical wrongs

In Portugal, which trafficked nearly 6 million Africans, more than any other European nation, the impact of the empire on the economy reached a substantial level around 1800

India, EU to begin next round of talks on free trade pact on Monday

Senior officials of India and the 27-nation European Union (EU) will commence the next round of talks for a proposed free trade agreement from Monday here, an official said. The agreement is aimed at further boosting bilateral trade and investments between the two regions. The two sides are negotiating a free trade agreement, an investment protection agreement and an agreement on geographical indications (GIs). "The five-day talks will start from September 23. It will be the ninth round of negotiations. Also, the concerns of Indian stakeholders regarding the EU's sustainability measures, such as CBAM, deforestation and others, will be discussed with the EU," the official said. During the ninth round, both sides will discuss core trade issues covering goods, services, investment and government procurement along with necessary rules such as rules of origin, SPS (sanitary and phytosanitary), and technical barriers to trade. The Carbon Border Adjustment Mechanism (CBAM) or carbon tax (

India to impose retaliatory measures against European Union's steel tariffs

The move comes after bilateral engagements with the trade bloc had failed earlier this year

EU chief travels to Kyiv with promise of fresh energy funds for Ukraine

European Union chief Ursula von der Leyen is travelling to war-ravaged Ukraine on Friday with the promise of 160 million euros ($180 million) in fresh energy funds to get the nation through the winter. Von der Leyen told reporters that 100 million euros ($112 million) of the funds would come from the proceeds of the Russian assets held in the EU because of the 2022 invasion of Ukraine. "It is only right that Russia pays for the destruction it caused." The European Union estimates that about half of Ukraine's energy infrastructure has been destroyed, making the job of heating homes, hospitals and schools increasingly difficult as temperatures dip ahead of the third war winter that the nation will face. Von der Leyen said Russia knew full well that bombing energy stations was hitting Ukraine where it really hurts. Morale to keep on fighting can be significantly sapped if millions shiver in the brutal winter for months on end. "We may see huge implications," said Fatih Birol, the head

India proposes retaliatory duties on EU's safeguard steps on steel products

India has proposed the imposition of retaliatory customs duties, under the WTO norms, on certain value of goods imported from the EU, as the two sides have failed to reach a consensus on the European Union's safeguard measures on some steel products. In a communication to the World Trade Organisation (WTO), India said that it has proposed suspension of concessions will take the form of an increase in tariffs on selected products originating in the EU. "India hereby informs that from 2018 to 2023, the safeguard measures (of the EU) have resulted in cumulative trade loss for India to the tune of USD 4.412 billion on which the duty collection would be USD 1.103 billion. "Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the EU," the communication said. It added that to ensure the effective exercise of its right to suspend substantially equivalent concessions, India reserves its right to effectuat

Tech giants embark on final push to dilute European Union's AI Act

EU lawmakers in May agreed the AI Act, the world's first comprehensive set of rules governing the technology, following months of intense negotiations between different political groups

Greece records 37% surge in property purchases by Indians in July-Aug

The rush in purchases is driven by a change in the minimum investment limit under Greece's Golden Visa Programme from Rs 2.3 crore to Rs 7 crore

EU moves to compel Apple to open up operating system to rival tech

The European Union said Thursday it will outline steps to compel Apple to open up its iPhone and iPad operating systems to competing technologies under the bloc's tough new digital rulebook, which threatens hefty fines for breaches. The EU's executive branch, the European Commission, said it has opened two specification proceedings that will spell out what Apple needs to do under the 27-nation bloc's Digital Markets Act. The DMA is designed to prevent Big Tech gatekeepers from dominating digital markets, including by breaking up closed tech ecosystems. It requires tech companies to make their systems operate with rivals, allowing consumers to switch more easily between platforms. One proceeding will focus on how connected devices like smartwatches and headphones will have effective interoperability with Apple's operating system. The other will look at how Apple deals with interoperability requests from software developers for iOS and IPadOS, which should be done in a "transparent, .

EU chief travels to Kyiv, promises energy funds for Ukraine's winter

European Union chief Ursula von der Leyen is travelling to war-ravaged Ukraine on Friday with the promise of 160 million euros ($180 million) in fresh energy funds to get the nation through the winter. Von der Leyen told reporters that 100 million euros ($112 million) of the funds would come the proceeds of the Russian assets held in the EU because of the 2022 invasion of Ukraine. It is only right that Russia pays for the destruction it caused, she said. The European Union estimates that about half of Ukraine's energy infrastructure has been destroyed, making the job of heating homes, hospitals and schools increasingly difficult as temperatures dip ahead of the third war winter that the nation will face. Von der Leyen said Russia knew full well that bombing energy stations was hitting Ukraine where it really hurts. Morale to keep on fighting can be significantly sapped if millions shiver in the brutal winter for months on end. We may see huge implications, said Fatih Birol, the hea

EU and India developed strong, innovative water management deal: EU envoy

EU Ambassador to India Ugo Astuto highlighted the success of the ongoing water projects in India, emphasising that the European Union and India have developed a strong and innovative water management partnership. At the inauguration of the India-EU Water Forum on Wednesday, he praised its growing collaboration with India in water management and expressed interest in expanding this partnership to Africa. "We have developed a successful partnership in India. We are now keen to work with Africa to bring our respective expertise, develop innovative water management strategies and foster regional water security," Astuto said during the forum. The India-EU water collaboration has made significant progress in areas like river basin management, the safe reuse of treated water and climate resilience, he said, adding that this partnership is contributing to improving India's water management infrastructure, strengthening efforts to tackle climate change impacts and ensure water security for .

Google wins fight over $1.7 billion EU fine for online advertising abuse

Judges at the EU's General Court in Luxembourg backed the Alphabet Inc. unit's challenge to a fine doled out in 2019, saying regulators made mistakes in their probe

EU chief Von der Leyen to unveil her new team after long and bumpy road

European Union chief Ursula von der Leyen is expected to unveil the members of her new team for the next five-year tenure at the head of the bloc on Tuesday. But it has been a tumultuous ride to get it ready for office the search for the 26 members of her college was chaotic and scandal-ridden even before the parliament is to start hearings on whether to accept each proposed candidate. French heavyweight Thierry Breton resigned and openly criticised von der Leyen for allegedly questionable governance on Monday and accused her of backroom machinations to oust him. Many saw his shock resignation more as a removal by von der Leyen of one of her most open internal critics after exerting pressure on French authorities. Compounding such problems was the defiance of many of the 27 member states as von der Leyen struggled to get anywhere close to gender parity on her Commission team they staunchly refused to give her a choice between a male and a female candidate. After days of secret t

Foreign banks in regulatory standoff seek RBI relief on trading rules

In October 2022, Esma de-recognised the Clearing Corporation of India, creating significant obstacles for European banks conducting large-scale transactions

French EU commissioner resigns after attacking Ursula von der Leyen

An influential French member of the European Union's powerful executive branch resigned on Monday, calling into question the leadership of European Commission President Ursula von der Leyen just as she tries to assemble a new team for the next five years. Thierry Breton, a French business executive and commissioner for the EU's vast internal market who recently clashed with tech billionaire Elon Musk, suggested that von der Leyen had gone behind his back to get another French official named in his place to the next commission. In a post on social media platform X containing his resignation letter to the EU's top official, Breton said that von der Leyen's move was further testimony to questionable governance - I have to conclude that I can no longer exercise my duties in the college. The commission proposes legislation for the 27 EU member countries and ensures that the rules governing the world's biggest trading bloc are respected. It's made up of a College of commissioners with a .

Italy supports EU's tariffs on Chinese exports of electric vehicles

Italy is aiming for a climate of positive cooperation, and real reciprocity to avoid dumping and obstacles from Beijing

EU antitrust order to Google's adtech business unlikely for now: Report

A break-up order could come at a later stage if Google continues its anti-competitive practices, they said, pointing to a precedent setting case involving Microsoft two decades ago