Page 55 - European Union

Apple suffers setback in fight against European Union's $14 bn tax orde

"The judgment of the General Court on 'tax rulings' adopted by Ireland in relation to Apple should be set aside," he said in a non-binding opinion

Google, Meta, & TikTok win court fight against Austrian online content rule

European Union recently adopted new rules called the Digital Services Act (DSA) which require large online platforms to do more to tackle illegal and harmful online content

Will not accept unfair taxes on steel, aluminum industry: Piyush Goyal

Expressing serious concerns over the European Union's move to impose carbon tax on imports from certain sectors like steel, Commerce and Industry Minister Piyush Goyal on Tuesday assured the domestic industry that India will not accept such unfair taxes and will fight to get a fair deal for producers and exporters. He said India has already flagged its concerns over the carbon tax with the European Union (EU) and in the WTO (World Trade Organization). The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of import duty) will come into effect from January 1, 2026, but from October 1 this year, domestic companies from seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, will have to share data with regard to carbon emissions with the EU. "I will assure you that we are extremely concerned about CBAM...We are taking it up with the WTO very very seriously. We shall try to work and fight to get a fair deal for the Indian ..

Regulating AI

World leaders have a long road ahead

EU asks AliExpress for details on measures against illegal products

The Commission said it wants to know what measures AliExpress has taken to comply with DSA rules against the dissemination and sale of illegal products online, such as fake medicines

Steel expansion plans threatened by scrap metal export restrictions

The country's consumption of ferrous scrap metal will jump 50% to 60 million tons by the end of the decade, and imports will double to about 20 million tons, it estimates

Govt weighs local tax options to avoid EU carbon levy: Piyush Goyal

"We will find a solution around a domestic tax to take care of equating with European taxes on carbon emissions," he said at an industry event

Behavioural ads: Meta faces EU crackdown on leveraging personal data

Regulators signed off on the new restrictions just as Meta announced its own plan to offer an ad-free version of the social media sites if users choose to pay a fee

Inflation in Europe region eased to 2.9% in October on lower fuel prices

The inflation that has been wearing on European consumers fell sharply to 2.9% in October, its lowest in more than two years as fuel prices fell and rapid interest rate hikes from the European Central Bank took hold. But that encouraging news was balanced by official figures showing economic output in the 20 countries that use the euro shrank by 0.1% in the July-September quarter. Inflation fell from an annual 4.3% in September as fuel prices fell by 11.1% and painful food inflation slowed, to 7.5%. The drop to under 3% is down from the peak of over 10% in October 2022 and puts the inflation figure at least within shouting distance of the European Central Bank's target of 2% considered best for the economy. But growth disappeared as output shrank after months of stagnation near zero.

Meta platform introduces ad-free plans for Instagram, Facebook in Europe

The EU regulations threaten to curb Meta's ability to personalize ads for users without their consent and hurt its major revenue source

G7 to agree on artificial intelligence code of conduct for companies

The voluntary code of conduct will set a landmark for how major countries govern AI, amid privacy concerns and security risks, the document seen by Reuters showed

INS Sumedha participates in maiden India-EU Joint Naval Exercise 2023

INS Sumedha, an indigenously built Naval Offshore Patrol Vessel, participated in the maiden India-EU Joint Naval Exercise 2023 from October 24-26.The exercise was conducted in two phases, which included a sea phase on October 24, followed by a harbour phase from 25 to 26 October 2023 at Tema, Ghana."INSSumedha's participation in the maiden #India - #EuropeanUnion Joint Naval Exercise & the anti-piracy patrols in Gulf of Guinea region - 12,000 Nautical Miles (22,200 km) from India stands testimony to the #IndianNavy's enhanced access, reach & sustenance," the Indian Navy posted on X.The sea phase witnessed air and surface exercises such as communication drills, anti-piracy and cross-deck helicopter operations.The harbour phase involved wide-ranging activities comprising cross-deck visits, professional exchanges, knowledge sharing and discussions on contingencies for the exchange of best practices among Indian and EU navies.The joint exercise at sea and professional ...

India criticises safeguard measures on steel import by EU, UK at WTO meet

Certain WTO countries, including India, Switzerland, Russia, and Japan, have criticised the safeguard measures imposed by the EU and the UK on imports of certain steel products, stating it is inconsistent with global trade rules, an official said. The comments were made by these countries during the meeting of World Trade Organisation's (WTO's) Safeguards Committee on Wednesday. The Geneva-based official said, "Switzerland, Brazil, Japan, China, Korea, Russia and India criticised the European Union's decision to maintain its safeguard measure on imports of certain steel products, which was imposed by the EU after the US imposed additional duties on steel imports during the Trump administration. These members regretted the EU's decision not to terminate the measure during a recent review and argued the safeguard was inconsistent with WTO rules, the official said. However, the EU argued that the safeguard will expire at the end of June 2024. Further India, Korea, Switzerland, Japan,

Amazon discloses 181 mn users in EU in first store transparency report

In August, the Digital Services Act (DSA) imposed new rules on content moderation, user privacy and transparency for platforms and search engines labelled as very large online platforms

Global billionaire tax could yield $250 billion: EU Tax Observatory

If levied, the sum would be equivalent to only 2% of the nearly $13 trillion in wealth owned by the 2,700 billionaires globally, the research group hosted at the Paris School of Economics said

EU wants free trade deal with India for 'real' mkt access: Spain's Minister

"There is an enormous interest from the member states, but only if there will be an access to the real market, without which the deal would be emptied"

Israel-Hamas war: EU demands Meta, TikTok to curb illegal content

The European Union (EU) ratcheted up its scrutiny of Big Tech companies on Thursday with demands for Meta and TikTok to detail their efforts to curb illegal content and disinformation during the Israel-Hamas war. The European Commission, the 27-nation bloc's executive branch, formally requested that the social media companies provide information on how they're complying with sweeping new digital rules aimed at cleaning up online platforms. The commission asked Meta and TikTok to explain the measures they have taken to reduce the risk of spreading and amplifying terrorist and violent content, hate speech and disinformation. Under the EU's new rules, which took effect in August, the biggest tech companies face extra obligations to stop a wide range of illegal content from flourishing on their platforms or face the threat of hefty fines. The new rules, known as the Digital Services Act, are being put to the test by the Israel-Hamas war. Photos and videos have flooded social media of t

EU debates how to handle challenges as Israel-Hamas war provokes concerns

European Union interior ministers met Thursday to discuss how to manage the impact of the war between Israel and Hamas on the bloc, after a firebomb assault on a Berlin synagogue and killings in Belgium and France by suspected Islamist extremists. Sweden hosted a meeting of ministers from eight countries, among them Germany, Belgium and France, focused on how to handle incidents where people burn the Muslim holy book, the Quran. Prosecutors are trying to establish whether that was a key motive for a Tunisian man who shot three Swedes in Brussels on Monday, killing two of them, ahead of a Belgium-Sweden soccer match in the capital. While the Quran burnings are not directly linked to the conflict between Israel and Hamas, they are a sign of rising tensions between religious and other communities in Europe. The war that began Oct 7 has become the deadliest of five Gaza wars for both sides. The Hamas-run Gaza Health Ministry said Wednesday that 3,478 Palestinians have been killed and m

Amazon, X will likely avoid paying bill for enforcing EU's content rules

The commission estimates it needs $47.7 mn to enforce Digital Services Act this year. Very large online platforms required to divvy up those costs based on the number of users they have

Poland's voters reject their right-wing govt, but many challenges lie ahead

Poland's voters delivered a clear verdict. After eight years of rule by a right-wing government, they have had enough. While the conservative ruling Law and Justice party won more votes than any other single party in a parliamentary election on Sunday, it lost its majority and will not hold enough seats to govern the country. Three opposition groups who waged an energetic campaign on promises to help restore national unity, rule of law and cooperative ties with the European Union and other allies, are poised to get their turn to steer the Central European nation of 38 million people. But the path ahead will be demanding. Here are five challenges facing the country in its transition. Transition of power Some Poles have voiced concerns that the ruling party, like former President Donald Trump in the United States and supporters of former President Jair Bolsonaro in Brazil, might resist the verdict of the voters. Some anxiety was triggered by words uttered Sunday night by party leader