Eu Financial News

Subscribe to enjoy similar stories. DUBLIN : The Irish government is rolling in clover like never before. The country currently has so much money it pumps cash into not one but two sovereign-wealth funds.

Bitcoin prices have surged to their highest level since 26 August, propelled by an acceleration in the global central banks' easing cycle.

Subscribe to enjoy similar stories. The biggest challenge with artificial intelligence is that we don’t have enough yet. Regulation should aim to help solve this problem.

AI regulations. Stringent regulations such as the proposed EU Artificial Intelligence Act could potentially undermine the global competitiveness of European AI startups, likely pushing more companies to shift to place like the United States —a seismic blow to Europe’s tech ecosystem, ET has learnt after speaking with multiple industry executives, global founders, and investors at the Slush 2024 event in Helsinki. “The reality is that the regulations here are far removed from the reality of how businesses operate,” said Andreas Klinger, founder of Prototype Capital, an early-stage solo general partner fund based in Berlin. “If we look at the high-risk aspects, everyone will agree, but things get muddier very quickly. I invest in artificial intelligence startups, so I have a good sense of what is likely to happen.”

Amazon will likely face an EU investigation next year into whether it favours its own brand products on its online marketplace as European antitrust regulators build up a case under landmark rules, people with direct knowledge of the matter said. The US online retailer could face a fine of up to 10% of its global annual turnover if it is found guilty of breaching the European Union's Digital Markets Act (DMA) which seeks to rein in the power of Big Tech. The timing and decision on whether to go ahead with an investigation will be taken by incoming EU antitrust chief Terera Ribera in the coming months, the people said. The Spaniard is set to take up her post next month, replacing outgoing Margrethe Vestager.

A former top executive in Sam Bankman-Fried's fallen FTX cryptocurrency empire was sentenced to two years in prison on Tuesday for the part she played in a fraud that stole billions of US dollars from investors, lenders, and customers.

The UK officially launched the Global Clean Power Alliance at the G20 Summit in Rio de Janeiro yesterday, fuelling hopes that a growing coalition of countries are willing to push for an ambitious new climate agreement at the COP29 Summit in Baku. Brazil, Australia, Barbados, Canada, Chile, Colombia, France, Germany, Morocco, Norway, Tanzania, and the African Union have committed to supporting the new alliance's first 'Mission', while the US and EU have been named as partners of the initiative.  COP29: Keir Starmer confirms UK will aim to cut emissions 81% by 2035 Prime Minister Kei...

Brazil's President Luiz Inácio Lula da Silva has welcomed China’s President Xi Jinping for a state visit at the Alvorada Palace in Brasilia, in the latest sign of deepening ties between the two countries that analysts say may accelerate as Donald Trump...

Ford is cutting its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker-than-expected sales of electric cars

President-elect Donald Trump has vowed to repeal President Joe Biden’s signature artificial intelligence policy when he returns to the White House for a second term

World Trade Organization (WTO) India’s quality control orders (QCO) on various products including medical textiles, footwear and viscose staple fibre, and certain measures which restrict its import of copper, wooden boards and tyres. These issues came up at a meeting on market access in WTO on Wednesday. Last year, Canada, Japan, the UK and the EU had raised concerns at India’s QCOs terming them protectionist. “Some new trade concerns pertaining to India’s QCOs were raised at the meeting,” said a Geneva-based official.

The 63 countries, along with the European Union, assessed in the CCPI are responsible for 90 per cent of global emissions. India ranks 10th in this year's CCPI, remaining among the highest performers.

Journalist unions in Greece have launched a 24-hour strike, joining broader labor unrest on the eve of a nationwide general strike

Germany’s defense minister says officials have to assume that damage to two data cables under the Baltic Sea was caused by sabotage

In a report published on Monday (18 November), the financial watchdog said migration to the T+1 settlement should take place by an «optimal date» of 11 October 2027, while urging a «coordinated approach» across Europe to achieve this timeline. The regulator said it considered the industry to need at least 31 months to prepare and make the necessary investments and adapt processes, as well as the urgency to address the «misalignment» with international capital markets. IA urges UK, EU and Swiss regulators to align T+1 settlement rollout timeline ESMA said the operationalisation of T...

India looks for equity, balance and fair trade while negotiating a free trade agreement (FTA), Commerce and Industry Minister Piyush Goyal said on Tuesday. He asserted that India has entered into FTAs with countries which are transparent, open and where governments' economic systems align with India.

Subscribe to enjoy similar stories. This year’s United Nations Climate Change Conference (CoP-29) in Baku is taking place against a tumultuous geopolitical backdrop. In addition to shifting strategic alliances, trade tensions and violent conflict, the ‘year of elections’ has ushered in a period of heated political rhetoric and led to changes of government.

BAKU: The European Union on Monday urged «wealthier high-emitting» developing nations to voluntarily contribute to climate finance, signalling a shift from its earlier position that had stalled progress in the UN climate talks. Securing a new climate finance package to help developing countries reduce emissions and adapt to climate change is the top priority of this year's UN climate talks. Developing nations need at least $1.3 trillion annually to tackle worsening climate impacts. The EU and some developed countries argue that such a large sum can only be achieved if «wealthier high-emitting» developing nations, like China and Gulf states, also contribute. However, this proposal has been a major sticking point, as many developing countries view it as an attempt to shift responsibility away from those who historically benefited from industrialisation. European Commissioner for Climate Action, Wopke Hoekstra, suggested a compromise on Monday, proposing voluntary contributions from these nations without changing the traditional classification of developed and developing countries.

Xi Jinping warned Monday the world faces «turbulence,» as G20 leaders met in Brazil two months before Donald Trump returns to the White House. US President Joe Biden was attending his last summit of the world's leading economies, but as a lame duck eclipsed by Xi who has cast himself as a protector of the international order in the Trump 2.0 era. World leaders are meeting for two days to try to jumpstart stalled UN climate talks and overcome their differences on wars in the Middle East and Ukraine, and extracting more tax from the super-rich.

Prime Minister Kyriakos Mitsotakis says Greece is set to make an early repayment of 5 billion euros or $5.3 billion in bailout-era debt in 2025

Mark Gurman, Apple Intelligence – the company’s AI suite – is not likely to integrate ChatGPT when it rolls out globally in December. Notably, Gurman speculates that Apple’s delay in incorporating Gemini into its AI ecosystem could be intentional, allowing OpenAI an exclusive operational window.According to the media reports, this development follows earlier announcements at Apple’s Worldwide Developers Conference (WWDC) 2024, where Craig Federighi, Apple’s Senior Vice President of Software Engineering, teased the possibility of Apple Intelligence integrating with other AI models, including Gemini.