Eu Financial News

Tunisia has announced it would reject an installment of funds sent by Europe to help the debt-ridden country patrol the Mediterranean Sea as migrant boat crossings spike to levels not seen in several years

Meta plans to give Facebook and Instagram users in Europe the option of paying for ad-free versions of the social media platforms as a way to comply with the continent’s strict data privacy rules

The European Union has announced plans to better protect its cutting-edge technologies from foreign snooping that might threaten its economy and security

Meta Platforms is looking to introduce ad-free subscription plans for Instagram and Facebook users in Europe, two people familiar with the matter said on Tuesday. Several pricing plans were discussed, but the 10 euro ($10.49) per month plan is the most feasible, one of them said, while the other source said it will be implemented in the coming months.

The latest report on the UK's economic forecast for 2023 reveals several pivotal shifts in the nation's financial landscape. Here's what you need to know:

Investing.com — The Dow fell Tuesday, and turned negative for the year as data showing surprise strength in the labor market, stoked further concerns about higher Federal Reserve interest rates, pushing Treasury yields to multi-year highs.

WASHINGTON (Reuters) -U.S. President Joe Biden spoke with the leaders of allied countries, the European Union and the NATO military alliance on Tuesday about continuing coordinated support for Ukraine, the White House said.

Investing.com — The S&P 500 fell Tuesday as data showing surprise strength in the labor market, stoked further concerns about higher Federal Reserve interest rates, pushing Treasury yields to the highest levels in more than a decade.

The Canadian startup Tenstorrent, which builds artificial intelligence (AI) processors among other things, revealed a new partnership with Samsung’s chip manufacturing department.

Mário Centeno, the governor of Banco de Portugal, joins a chorus of regulators claiming that national efforts to oversee crypto wouldn’t work correctly without a global framework. 

Vodafone, on Monday urged the EU to make tech and streaming giants pay for the massive amounts of bandwidth they use. The idea is not new but has ignited a fierce debate. Telecoms giants say that they need more money to maintain and update the infrastructure to meet Europe's voracious data needs, and that it would be fairer if firms like Netflix contributed towards the cost. But tech behemoths say telecoms companies already get money from customers, while digital rights activists fear making web giants pay would create a two-speed internet. «Big tech companies pay today almost nothing for data transport in our networks, far from covering the costs needed to expand networks,» a letter published by the European telecoms lobby group ETNO and signed by 20 CEOs said.

NEW DELHI : The European Union’s (EU’s) carbon tax—the Carbon Border Adjustment Mechanism (CBAM)—came into effect on 1 October, causing a wedge between developing and developed countries. Interestingly, it is facing resistance from even within Europe. Mint explains.

New Delhi: The European Union’s much-debated ‘carbon tax’ on imported goods, which has industrial goods manufacturers worried about a potential dampening of margins on their exports, entered into a transitional phase on Sunday. The EU is seeking to impose this first-of-its-kind tax – called the Carbon Border Adjustment Mechanism – on the import of carbon-intensive goods as it looks to become a climate-neutral or net-zero carbon economy by 2050. European companies from seven carbon-intensive sectors – steel, cement, fertiliser, aluminium, iron, electricity and hydrogen products – will have to share data about their carbon emissions with the EU.

By Marc Jones

By Olena Harmash

Asset managers selling funds into the European Union risk having client flows “meaningfully” disrupted as regulators in the bloc consider a major overhaul of ESG investing rules, according to analysts at Barclays Plc.

For his manager, Barrie Chapman, the overtime he now gets is a huge boost once unheard of in the hospitality sector. Their regional manager Jen Eaton looks back in horror at the 14-hour shifts she once worked in casinos in heels with no break. Like thousands of others in lower-paid sectors of the British economy, all three have benefited from a gradual improvement in employment terms since the global pandemic and Brexit forced companies to work harder to find staff in a tight labour market. The shift follows years of warnings from unions and campaign groups that the balance of power in Britain had swung too far towards employers, leaving many lower-paid staff working unpredictable hours with poor benefits and little protection. Nick Collins, CEO of Loungers which employs Eaton, Chapman and Hughes-Davies among 8,000 staff in restaurants and bars across Britain, said expectations of employees had risen.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Nio denies reports of fundraising effort; and Tesla finds itself subject to EU probe.

Textile Industry (CITI) on Friday has elected Rakesh Mehra as Chairman, Ashwin Chandran as Deputy Chairman and Dinesh Nolkha as Vice Chairman for two years- 2023-2025. The decision was made during the organisation’s 65th Annual General Meeting (AGM), held virtually. In a statement, the apex body of textile industry said that Dinesh Nolkha has been elected as the vice-chairman at the 65th annual general meeting. Mehra is the chairman of Banswara Syntex, an integrated textile manufacturer and exporter of yarns, fabrics and garments, having a turnover of Rs 1,400 crore, CITI said. He expressed his commitment to fostering collaborative and inclusive initiatives for the overall growth of the textile sector. Reflecting on the industry’s recent challenges, outgoing Chairman T Rajkumar acknowledged the sector’s resilience, citing a 4.33% growth in the country’s cumulative exports of textiles and apparel in August compared to the previous year. India aims to clock $350 billion in apparel and textiles market size including $100 billion exports by 2030.

By Sara Rossi and Valentina Consiglio

By Jan Lopatka and David W. Cerny