Eu Financial News

Meta on Tuesday said it intends to ask EU-based users to give their consent before allowing targeted advertising on its networks including Facebook, bowing to pressure from European regulators. It said the changes were to address «evolving and emerging regulatory requirements» amid a bruising tussle with the Irish Data Protection Commission which oversees EU data rules in Ireland, out of which Meta runs its European operations.

India's innovative Carbon Dioxide Removal Obligati... moreIndia's innovative Carbon Dioxide Removal Obligation (CDR-O) tax proposal challenges the EU's Carbon Border Adjustment Mechanism (C-BAM).

Some businesses are holding off on signing up for a long-awaited new data agreement between the U.S. and the European Union, waiting to see whether the benefits outweigh the risks. After three years of negotiations, the EU gave final approval in July to a new deal that allows companies to store data about Europeans on U.S.

DUBLIN (Reuters) — Meta intends to ask users in the European Union for their consent before allowing businesses to target advertising based on what they view on its services such as Facebook (NASDAQ:META) and Instagram, the social media giant said on Tuesday.

By Eric Onstad

compliance requirements of the European Union's Deforestation Regulation (EUDR) as it would hit agri exports, a report said on Tuesday. This regulation will hit India's agricultural exports worth USD 1.3 billion to the EU starting December 2024, think tank Global Trade Research Initiative (GTRI) said. «Indian exports may take a bigger hit than exports from other competing countries to the EU because of India's higher deforestation rate,» the report said, adding India's exports will also be affected by the complex compliance requirements of the EUDR and the EU's Foreign Subsidies Regulation (FSR).

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The single currency area stagnated at the start of the year, registering no growth, and it only narrowly avoided falling into a technical recession.

carbon tax, on their domestic industry, during WTO ministerial meeting next year, an official said. The four-day 13th ministerial conference (MC) of the World Trade Organization (WTO) is scheduled for February 26 next year in Abu Dhabi. MC is the highest decision-making body of WTO. «These issues will come up in the WTO in a big way. Countries like India will oppose these measures in the WTO,» the official said. In the first seven months of this year, the EU has introduced four regulations on climate change and trade. These are carbon border adjustment mechanism (CBAM); deforestation regulation; including shipping in the EU's emissions trade system; and Foreign subsidies regulation. EU member Germany too has announced a supply chain due diligence act (SCDDA). «This will become a major issue in the MC13. Many member countries have already submitted papers against some of these regulations in the WTO. It looks like discussions will happen on these regulations and a general view will also converge,» the government official, who did not wish to be named, said. Geneva-based 164 member multi-lateral body WTO deals with global exports and import-related norms. Besides, it adjudicates trade disputes between the member countries.

Europe's economy has grown modestly after months of stagnation, but higher interest rates designed to fight inflation are casting a shadow as they make it more expensive for households and businesses to borrow, invest and spend. The 20 countries that use the euro currency and their 346 million people saw 0.3% growth in the April-to-June period, compared with the first three months of the year, the EU statistics agency Eurostat reported Monday. That's an improvement over zero growth in the first quarter and a slight decline in fourth quarter of last year — but not by much.

Regulators have told City bosses not to be scared of cutting bonuses for risk-takers as banks continue their wait for a decision on the future of the bonus cap.

Wow, that was fast. It took only eight months to find ChatGPT and generative artificial intelligence’s Achilles’ heel. No, it isn’t naive management, though OpenAI CEO Sam Altman did declare that AI poses a “risk of extinction" for humanity and practically begged a Senate Judiciary subcommittee to regulate AI, and then when the European Union actually did pass regulations, he threatened to pull out of the region.

Greece’s prime minister says his country wants to take full advantage of a developing positive climate with neighboring Turkey in order to improve bilateral relations despite a string of decades-old disputes

Despite poor inflows, Article 9 funds saw the best performance of any classification, rising 1.2% organically throughout the quarter, compared to Article 8 and Article 6’s 0.3% shrinkage.

Microsoft's Activision Blizzard deal for comments as it aims for a final decision by Aug. 29 on a $69 billion takeover it had previously blocked in April.

Bonds fell and stocks struggled for direction as traders parsed the latest commentary from central bankers for clues on the path for interest rates.

Europe's economy is growing again — but not by much

ABUJA (Reuters) — West Africa's regional bloc ECOWAS on Sunday gave Niger coup leaders one week to reinstate ousted President Mohammed Bazoum or face sanctions and the possible use of force.

The French finance minister says he pressed Chinese leaders to open their markets wider to foreign companies

By Boureima Balima

Russia-Ukraine war: Saudi Arabia is set to host Ukrainian-organized peace summit on 5 and 6 August, according to several reports. Saudi Arabia has invited several major countries including India, Britain, United States among others. A report by Wall Street Journal, confirms that Saudi Arabia is set to host talks in August about Ukraine.