Eu Financial News

Greece’s prime minister says he will not allow excessive spending to derail the country’s recovery from the lengthy financial crisis that required an unprecedented infusion of funds from its creditors

Europe's autos industry could face fines of 15 billion euros ($17.4 billion) for carbon emissions due to slowing demand for electric vehicles, Renault chief executive Luca de Meo said on Saturday. Automakers face tougher European Union CO2 targets in 2025 as the cap on average emissions from new vehicles sales falls to 94 grams/km from 116 g/km in 2024. «If electric vehicles remain at today's level, the European industry may have to pay 15 billion euros in fines or give up the production of more than 2.5 million vehicles,» de Meo told France Inter radio.

Saxony, has received the best electoral results for the far-right in Germany since the Nazis' rise. Weidel criticized other parties for refusing coalition agreements with the AfD and emphasized that Germany’s exit from the EU would be a last resort aimed at reforming, not destroying, the bloc.

Google is being slammed by U.K. regulators who say it’s taking advantage of its dominance in digital advertising to thwart competition in Britain

The Africa Center for Disease Control and Prevention and the World Health Organization have launched a continent-wide response plan to the outbreak of mpox

Rajasthan, and West Bengal. The government provided ₹6,500 crore for electrification work in the budget for FY25 which also includes unused funds from the previous year, one of the persons quoted above said. A query sent to the railway ministry remained unanswered till press time.

The Dutch government is expanding export restrictions on machines that make advanced processor chips that can be used in weapons systems

Sun Pharma and Israel-based Moebius Medical on Friday said that USFDA has granted fast track designation to novel non-opioid therapy MM-II against osteoarthritis knee pain. USFDA fast track designation allows expedited review of potential therapies to treat serious conditions and fill an unmet medical need. Among other benefits, companies whose investigational products are granted FTD are eligible for more frequent interactions with the USFDA during clinical development and potentially accelerated approval and priority review. MM2 is currently in planning stages for phase 3 clinical trials. Data from a randomized, controlled, Phase 2b study showed that a single intra-articular injection of 3mL of MM-II provided greater pain relief than placebo for up to 26 weeks.

Giriraj Singh on Friday expressed confidence that the niche carbon fibre — which is used in aerospace, civil engineering and defence as an alternative to metal — will be produced by India in 2025-26. Currently, India does not produce any carbon fibre and relies completely on imports from countries such as the US, France, Japan and Germany. The European Union's proposed Carbon Border Adjustment Mechanism, a tax on embedded carbon imports, is expected to kick in from 2026. «The coming days belong to Technical textiles in every sector… I am fully confident that in 2025-26 the niche carbon fibre product will also be with India,» Singh told reporters here.

Piyush Goyal on Friday said he has invited the steel industry to discuss about the «unfair» competition that some of them are facing to take appropriate steps with a view to promote the sector's growth. Certain steel industry players have raised concerns over rising imports from China at lower rates. «I have invited the steel industry...to understand the unfair competition that some of them are facing and take appropriate measures so that the steel industry remains vibrant, continues to grow and adds jobs to the Indian economy,» Goyal told reporters here. On September 5, he mooted the idea of introducing a border adjustment tax to protect the domestic players by providing a level-playing field against increasing imports.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

European Union's climate change monitoring service said on Friday, as global warming continues to intensify. The boreal summer of June to August this year blew past last summer to become the world's warmest, the Copernicus Climate Change Service (C3S) said in a monthly bulletin. The exceptional heat increases the likelihood that 2024 will outrank 2023 as the planet's warmest on record.

Indian exporters are putting together traceability proofs such as geolocation coordinates of plots of land and details of their entire supply chain as they gear up to comply with the European Union's new regulation on deforestation. The EU Deforestation Regulation (EUDR) requires firms to ensure that products exported to the EU have been grown on land which has not been deforested after December 31, 2020. The regulation has implications for India's coffee, cocoa, soya, wood products, rubber and its products and leather goods exports. It prescribes fines up to 4% of a firm's annual turnover in the EU and confiscation of products and revenues gained from a transaction for non-compliance.

soccer calendar has left some players with as little as 12% of the year to rest, which is equivalent to less than one day off per week, a report by global players' union FIFPRO said. FIFPRO, which is filing a complaint to EU antitrust regulators against world soccer governing body FIFA's international match calendar, said the lack of rest contravenes international health and safety standards and is a result of competition organisers not prioritising player welfare. A report for the 2023-24 season said 54% of 1,500 players monitored faced high workload demands, with many exceeding medical recommendations.

Monday 24 - Tuesday 25 June: .7th European Nuclear Safety Conference.

Italy has approved new rules to put lucrative concessions for beach clubs up for bidding by June 2027, responding to pressing demands from the EU to open up the sector to new players

Serbia's deputy prime minister has met with Russian President Vladimir Putin and vowed that his country will remain an ally of Moscow despite its proclaimed bid to join the European Union

Renewable Energy Minister Pralhad Joshi on Wednesday stressed on the need to bring startups into the green hydrogen sector to bring new ideas and involve youth. Addressing a curtain raiser of the second International Conference on Green Hydrogen India 2024, Joshi said that there will be over 120 exhibitors in the event which is scheduled on September 11-13, 2024 in Delhi. He said for pushing green hydrogen mission, we need to bring startups as it needs young blood and new ideas. The event is to further green hydrogen mission for which government had allocated Rs 19,744 crore.

Goldman Sachs Group Inc. economists gamed out the potential economic implications of a Republican or Democratic victory in the November elections, cautioning that US GDP faces a hit in the case of a win for Donald Trump. “We estimate that if Trump wins in a sweep or with divided government, the hit to growth from tariffs and tighter immigration policy would outweigh the positive fiscal impulse” from maintaining most tax cuts, Goldman economists including Alec Phillips wrote in a note Tuesday. Gross domestic product would see a peak hit of 0.5 percentage point in the second half of next year in that scenario, with the effects abating in 2026, the Goldman team estimated. They assumed a 20 percentage-point hike in China tariffs under Trump, along with higher duties on auto imports from Mexico and the European Union, and a reduction in immigration that would slow growth in the labor force.

Nvidia as it deepens its probe into the AI heavyweight's antitrust practices, Bloomberg News reported on Tuesday, citing people familiar with the investigation. The antitrust watchdog had previously delivered questionnaires, and has now sent legally binding requests to Nvidia, the report said, adding that other companies had also received subpoenas. Officials are concerned that the chipmaker is making it harder to switch to other suppliers and penalizes buyers that do not exclusively use its artificial intelligence chips, the report said.

Salvagers have abandoned an effort to tow away a burning oil tanker in the Red Sea targeted by Yemen’s Houthi rebels