Eu Financial News

Apple is expected to unveil its new iPhone lineup on Tuesday, with its Lightning charger ports likely to be replaced on the newest models by a universal charger after a tussle with the European Union. The bloc is insisting that all phones and other small devices must be compatible with the USB-C charging cables from the end of next year, a move it says will reduce waste and save money for consumers.

iPhone speaker dock I was given by my mum the previous Christmas is blasting out Carly Rae Jepson’s Call Me Maybe which, unlike most of the other hits that year, would come to stand the test of time quite perfectly. Less enduring would be the 30-pin Apple charger that made such a fine technological feat possible. That year would see it ditched; replaced in the iPhone 5 with the 8-pin, 80% smaller Lightning connector we all recognize today.

iPhone 15 will bring substantial improvements, particularly in the premium segment. As per Bloomberg, the Pro variants will showcase a redesigned chassis, replacing stainless steel with titanium. Additionally, the flagship model, the Pro Max, will boast an enhanced telephoto camera for superior photography.

Apple Inc.’s biggest day of the year has arrived, and the company is set to unveil updated versions of its iPhone, smartwatch and AirPods. The new iPhone 15 will be a significant upgrade, especially at the high end of the lineup. Pro-branded versions of the device will feature a revamped design that switches the side material from stainless steel to titanium. The top-of-the-line model — the Pro Max — will also get a new camera that takes better telephoto pictures. Another change is less groundbreaking but may strike consumers as bigger news: Apple is switching the charging port of the iPhone from Lightning to USB-C. The last time the company made such a change, in 2012, it irked many Apple fans. In this case, the company didn’t have much choice: The European Union mandated the shift. The iPhone launch is always a critical moment for Apple: The device accounts for roughly 50% of its sales, or more than $205 billion last year. But this year is a particular high-wire act because the company is trying to reverse a sales slump and stave off concerns about a backlash in China. Seven things that are expected at the Apple event, dubbed “Wonderlust,” :

Social media giant X (formerly Twitter) has made the changes to the Like button ahead of Apple's Wonderlust event. The Wonderlust event will see the launch of top-of-the-line products including the iPhone 15 series, the new Apple Watch series and AirPods Pro with USB-C. The Like button splits into similar pieces before returning to the heart shape, very much like the animation seen in Apple's teaser for the Wonderlust event.

Poland's prime minister says his government will not lift its embargo on imports of Ukrainian grain as scheduled Friday because it would hurt Polish farmers

steel imports touched a record high in 2020, increasing by 23% to 2 million metric tons. China was the second-largest exporter of steel to India, falling behind only South Korea. Steel secretary Nagendra Nath Sinha stated earlier this week that the government was keeping a close eye on steel imports following apprehensions raised by the domestic industry about potential unfair trade practices by Chinese sellers.

BMW has announced plans to transform its Mini factory in Oxford, England, to produce nothing but electric vehicles

India and Saudi Arabia have agreed to expand trade and security ties, two days after their leaders and others attending a Group of 20 summit announced a new railways and port corridor deal that will link India, Middle East and Europe

Europe's economic outlook just took a turn for the worse

NEW DELHI : India and Saudi Arabia agreed to link their power grids, underscoring a deepening energy alliance that could significantly boost the reliability of power grids in both countries and foster economic development. The agreement on linking power grids follows another more expansive infrastructure connectivity project plan to develop an India-Middle East-Europe economic corridor. The project, announced on 9 September during the G20 summit, envisages a rail and shipping corridor connecting India, the United Arab Emirates (UAE), Saudi Arabia, the European Union, France, Italy, Germany and the US.

EU antitrust regulators have delayed their investigation into Amazon's $1.7 billion acquisition of robot vacuum cleaner maker iRobot as they wait for the companies to provide requested information. The European Commission, which acts as the competition enforcer in the 27-country bloc, said it stopped the clock on Sept. 8, with effect from Aug. 29.

China said on Monday that it welcomes the India-Middle East-Europe Economic Corridor announced on the sidelines of the G20 summit so long it doesn't become a «geopolitical tool», even as it downplayed Italy's plan to pull out of its Belt and Road Initiative (BRI). China welcomes all initiatives that truly help developing countries build infrastructure and sincere efforts to promote connectivity and common development, the Chinese Foreign Ministry said. «At the same time, we advocate that various connectivity initiatives should be open, inclusive, and form synergy, and should not become geopolitical tools,» the ministry said in a written response to PTI to a question on China's reaction to the new corridor. On Saturday, Prime Minister Narendra Modi announced plans to launch the India-Middle East-Europe Economic Corridor which includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US. «Today we all have reached an important and historic partnership. In the coming times, it will be a major medium of economic integration between India, West Asia and Europe,» Modi said.

By Giuseppe Fonte

Binance regional markets head Richard Teng insists that the global cryptocurrency exchange is financially secure and in no way similar to bankrupt peer FTX despite recent regulatory scrutiny and regional challenges,

Russia-Ukraine crisis, German economy is expected to contract in 2023, predicted European Commission on Monday. The recent cut in forecast has come at a time when Euro's biggest economy is facing high inflation and the spill over effect of Russia-Ukraine war. Now, Germany's GDP is predicted to shrink by 0.4% in 2023 against 0.2% projected previously.

India-Middle East-Europe Economic Corridor announced on the sidelines of the G20 Leaders' Summit is expected to be a game-changer project and provide a huge boost to global trade, said EEPC. India expects this corridor to be economically more viable than China's flagship Belt and Road Initiative (BRI). TheUS, UAE, Saudi Arabia, European Union (EU), Italy, France and Germany were brought together on the economic corridor agreement on the sidelines of the G20 Summit. The US-backed corridor seeks to connect India with Europe via the Middle East by sea and port.

WhatsApp is gearing up to introduce a new feature that promises to reshape the way users connect and communicate across different messaging platforms. According to The Verge, this new development was unveiled in a recent WhatsApp for Android beta update (version 2.23.19.8).

As India handed over the G20 Presidency to Brazil, the member nations have committed to harnessing artificial intelligence (AI) technology in a responsible manner in addition to planning for a future involving crypto assets and central bank digital currencies (CBDC).

Scotland is set to introduce pilot schemes that will let select civil servants to transition to a four-day workweek. The pilot programs are slated for various government departments and agencies and are aimed at exploring the feasibility and benefits of a reduced workweek. This initiative, outlined in the 2023-24 Programme for Government (PfG), details the government's plans for the upcoming year and aims to evaluate the potential benefits of reduced working hours. The pilot program's main objective, as stated in the document, is to assess the well-being, environmental impact, and productivity gains that could be achieved through the adoption of a four-day workweek in the public sector. The pilot is expected to run for approximately one year and may involve arm's-length bodies rather than ministerial departments. Certain government enterprise agencies, responsible for fostering economic development in Scottish regions, have expressed interest in participating in the trial. The United Kingdom conducted its largest-ever trial of the four-day workweek just last year. Nearly 3,000 employees across 61 organizations embraced a shorter workweek for six months. The majority of employers opted to retain the four-day workweek model when the experiment concluded. They attributed this decision to increased revenues, reduced staff turnover, and mitigated worker burnout as the key drivers of their choice.

Indian Railway Finance Corporation’s market capitalization cross the Rs 1 lakh crore-mark for the first time ever since the company went public in 2021. Shares of the company were locked in the 10% upper circuit on Monday at Rs 84.80 on the National Stock Exchange. At the lifetime high of Rs 84.80, the stock more than trebled in value from its issue price of Rs 26. Year-to-date, the stock has risen a whopping 158%. The government’s increasing focus on boosting infrastructure spending in the country has played a major role in lifting railway and rail-related stocks on Dalal Street. In the Union Budget for 2023-24 (April-March), the government announced an outlay of Rs 2.40 lakh crore for Indian Railways, which is the highest capital outlay for railways and is 9x over FY14 allocation. The ongoing G20 Summit was nothing less than a shot in the arm as the government announced a shipping and rail transportation corridor linking countries across the Middle East, South Asia and Europe on the sidelines of the Summit in New Delhi over the weekend. The announcement of a new corridor will lead to a comprehensive rail and shipping connectivity network linking US, India, Saudi Arabia and Gulf and Arab states, and European Union. The plan aims to integrate railway routes and port linkages, spanning from India to Europe, traversing through the United Arab Emirates, Saudi Arabia, Jordan, and Israel. Not only IRFC, but all other rail-related stocks danced on Dalal Street on the back of this news. Shares of Rail Vikas Nigam rallied more than 9% while Titagarh Wagons rose 5%.