Page 45 - European Union

China urges EU to show sincerity in talks as EV tariffs take effect

The government has repeatedly called on the European Union to cancel its tariffs, expressing a willingness to negotiate

EU announces investigation into Chinese subsidies for electric vehicles

The European Union (EU) is launching an investigation into subsidies that China provides to electric vehicle makers, the head of the bloc's executive branch said Wednesday, as concern grows that the aid is harming European companies. Global markets are now flooded with cheaper Chinese electric cars, and their price is kept artificially low by huge state subsidies. This is distorting our market, European Commission President Ursula von der Leyen told EU lawmakers in Strasbourg, France. As we do not accept this distortion from the inside in our market, we do not accept this from the outside, von der Leyen said. So, I can announce today that the commission is launching an anti-subsidy investigation into electric vehicles coming from China. China's leaders have helped make the country the biggest market for electric vehicles by investing billions of dollars in subsidies to get an early lead in what is seen as a promising industry. Global automakers face growing competition in their hom

UK elections: Five questions ratings firms have for the new government

With a relatively modest 1.3 percentage point of GDP primary budget deficit likely this year, the UK isn't as far away from a debt-stabilizing balance as G7 peers the US, France and Italy are at least

Europe holds breath for France polls; Macron's role in EU to get diluted

The big fear for the EU's traditional political mainstream is an outright RN victory, forcing Macron to 'co-habit' with a government hostile to his vision of European sovereignty

Xi Jinping greets EU Council president ahead of EV tariffs taking effect

EU trade policy has turned increasingly protective over concerns that China's production-focused development model could see it flooded with cheap goods

Lufthansa gets EU nod for $350 million stake in Italy's ITA Airways

ITA also offers key long-haul routes to Lufthansa, which has an option to take full ownership if the Italian airline's financial performance improves

EU approves Sanofi's Dupixent injection to treat chronic lung disease

The EU Commission approved Dupixent to treat chronic obstructive pulmonary disease (COPD) in patients that cannot be helped by standard inhaled drugs

At its lowest level in three years, German inflation eases to 2.5% in June

Economists pay close attention to German inflation data, as the euro zone's biggest economy publishes its figures before the euro zone inflation data release

Mark Zuckerberg's Meta faces EU charges for Digital Markets Act breach

After Apple, the European Commission is preparing to charge Meta, the parent company of Instagram and Facebook for its 'pay or consent' model

Euro rises after first-round of France's snap elections, yen struggles

The euro, which has fallen some 0.8% since Prez Emmanuel Macron called the election on June 9, was last 0.24% higher at $1.0737

French voters give strong lead to far-right in first-round of elections

French voters propelled the far-right National Rally to a strong lead in first-round legislative elections on Sunday and plunged the country into political uncertainty, according to polling projections. French President Emmanuel Macron, who called the surprise elections just three weeks ago, urged voters to rally against the far right in the second round of balloting. French far-right leader Marine Le Pen called on voters to give the National Rally an absolute majority at parliament. She said a National Rally majority would enable the far right to form a new government with party President Jordan Bardella as prime minister in order to work on France's recovery. Projections by polling agencies suggest the National Rally stands a good chance of winning a majority in the lower house of parliament for the first time, with an estimated one-third of the first-round vote, nearly double their 18 per cent in the first round in 2022. The party is building on its success in European elections

Hungary's Orbn to take over EU presidency as many issues hang in balance

When Hungary takes over the helm of the European Union on July 1, many politicians in Brussels will have the same thing on their minds: whether populist Prime Minister Viktor Orbn will use the role to further his reputation as the bloc's main spoiler. Orbn in recent years has seemed to relish opportunities to block, water down or delay key EU decisions, routinely going against the grain of most other leaders on issues like the war in Ukraine, relations with Russia and China, and efforts to defend democracy and the rule of law. His public opposition to EU policies and stances has long frustrated his partners in the bloc and pushed him to the margins of the continent's mainstream. Hungary's motto for its presidency Make Europe Great Again raised eyebrows for its resemblance to the famous tagline of former U.S. President Donald Trump. The EU presidency rotates among its member countries, and while the post holds little real power, it does allow countries to put their priorities high

Microsoft's $13 billion investment into OpenAI faces extra EU scrutiny

Margrethe Vestager, the bloc's antitrust chief, announced Friday that the EU has ruled out an investigation under the EU's merger rules into the deal

China's Xi calls for 'bridges' amid trade, diplomatic & territory disputes

China will never leave the road of peaceful development, Xi said at a conference commemorating China's guiding principles for foreign affairs first formulated 70 years ago

EU leaders agree on officials who will be face of European Commission

European Union leaders signed off on a trio of top appointments for their shared political institutions on Thursday, reinstalling German conservative Ursula von der Leyen as president of the European Commission for another five years. At the side of von der Leyen, who heads the EU's executive branch, would be two new faces: Antonio Costa of Portugal as European Council president and Estonia's Kaja Kallas as the top diplomat of the world's largest trading bloc. Mission Accomplished, outgoing EU Council President Charles Michel told reporters after chairing a summit of the bloc's leaders, as von der Leyen and Kallas accompanied him at a joint a news conference. Costa took part via video-link. Von der Leyen expressed her gratitude for a shot at a second term of office, saying: I'm very honored and I'm delighted to share this moment. Kallas, who as the EU's top diplomat will lead the bloc's foreign and security policy with Russia's war on Ukraine in its third year, noted that there is

EU leaders to agree on top jobs, strategic agenda amid Russia-Ukraine war

They will also ask EU institutions to work out the details of a 50 billion euro loan for Ukraine that would be serviced by profits generated by Russian central bank assets frozen in the West

Indians lost over 12 million euro on rejected Schengen visas in 2023

Schengen states rejected a total of 1.6 million euros visa applications in 2023, out of which a staggering 151,752 Indian nationals were denied

Russia bans distribution of dozens of EU news outlets in retaliation

The European Union said in May it was suspending the distribution of what it described as four 'Kremlin-linked propaganda networks'

Microsoft hit with EU antitrust charge for linking Teams app with MS Office

Two decades after Microsoft's last EU fine, the EU competition watchdog's latest action was triggered by a 2020 complaint from rival workspace messaging app Slack

Ukraine set for symbolic start of EU membership talks, alongside Moldova

The two countries will have to navigate not just technical and legal obstacles to membership but also political hurdles