Eu Financial News

Latvia’s financial crimes unit has fined the crypto pay service provider Payeer a “record” $10 million for violating EU sanctions on Russia.

The Association of Investment Companies CEO Richard Stone, said plans are in place to write to the new economic secretary to the Treasury «as soon as they are appointed». The trade body has called for the reforms since 2018, when investment trusts were brought under the current scope of regulated cost disclosure. Stone reiterated the trade body's demands for this to be reversed to the new Labour Treasury. House of Lords condemns FCA's application of cost disclosure regime for investment trusts The issue stems from the UK's application of two pieces of European Union-derived regu...

Payeer allowed Russian customers to carry out transactions in Russian roubles to and from EU-sanctioned Russian banks, according to Lithuania's Financial Crimes Investigation Service (FNTT).Russian individuals and legal entities were also offered the chance to receive crypto wallet, account management and storage services, says the FNTT.Over a period of around 18 months, Payeer had at least 213,000 customers, and the company's revenue reached more than EUR164 million.

British Prime Minister Keir Starmer has said he would seek to improve the trade deal with the European Union as he began a two-day tour of the U.K. as part of an “immediate reset” with governments in Scotland, Northern Ireland and Wales

Volkswagen unit MAN Energy Solutions' gas turbine business to a Chinese company on Wednesday, with ministers citing security reasons. The decision comes amid rising trade tensions between the EU and China. Germany's economy ministry can review and stop transactions deemed to have national security implications, and Berlin and the EU are trying to reduce risks from economic ties with Beijing. The planned sale of the German business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT) was announced in June 2023 at an undisclosed price, but MAN Energy Solutions said in September the government would take a close look.

China has reported its auto sales slumped in June as the domestic economy remained sluggish, but buoyant exports offset the decline at home

Investment in electric vehicle manufacturing is booming in Morocco, a country that neighbors Europe and enjoys a free trade agreement with the United States

Q. What economic concerns are central in Britain’s 2024 election? A. Britain faces certain structural challenges now — growth is limping back to a very low level after a practically recessionary situation. It is unclear how GDP will increase. This problem is shared by other European economies and Japan as well. The United States escapes this by being a vast market with more robust demographics while Europe and Japan are ageing — one solution is immigration but it’s a highly problematic political issue in the UK. So, in Britain currently, there is no clear route to growth beyond 1% or 2% — we are not talking about anything close to the 6% or 7% seen in India.

Facebook parent Meta with breaking the bloc's landmark digital rules, the Financial Times reported on Monday, citing people with direct knowledge of the matter. In preliminary findings to be issued this week, regulators will say that they are worried about Meta's «pay or consent» model, according to the report.

Gold prices held steady in early Asian hours on Monday, buoyed by data that showed inflation in the U.S. subsided, boosting hopes that the Federal Reserve will start cutting interest rates this year. FUNDAMENTALS

Asian stocks were subdued on Monday as traders pondered the U.S rates outlook, while the euro edged higher after the far-right won a smaller share of the vote in the first round of France's shock snap election than some polls had projected. The euro was 0.32% higher at $1.0747, while European stock futures rose 1% as exit polls showed Marine Le Pen's eurosceptic National Rally emerged ahead in the first round of the French vote but with fewer votes than some analysts had forecast.

Rishi Sunak on Sunday dismissed suggestions that his party was headed to defeat in the July 4 general election, using one of his final televised appearances to defend the Conservatives' record on the economy.

Euro 2024 Football tournament has just got a lot more exciting. If you are wondering whether your favorite team has a change of lifting the cup this year, turn to Opta’s fabled supercomputer that has predicted the performance of the teams who have entered the knockout stage. The top 10 European teams in the FIFA world ranking with the exception of Croatia have entered the knockout stage. You will be surprised with what the Super Computer has predicted. What are the chances of a country that has recently left the European Union, winning the tournament?

In 2019, Boris Johnson rode to a big election win on a promise to “Get Brexit Done" and finally strike a deal with the European Union for Britain’s departure. Next week, the Conservative Party that delivered Brexit goes to the polls again, this time facing a deficit of more than 20 percentage points and almost certain defeat by the opposition Labour Party. The only question, it seems, is the scale of the wipeout for the hapless Rishi Sunak and his Tories.

Microsoft's partnership with OpenAI could face an EU antitrust investigation as regulators singled out their exclusivity clauses while Google's artificial intelligence deal with Samsung also triggered scrutiny. EU antitrust regulators will seek additional third-party views, EU competition chief Margrethe Vestager said on Friday.

Swarm, the Berlin-based RWA platform founded by innovator Timo Lehes, is revolutionizing the non-fungible token (NFT) space with its brand-new gold-backed product ahead of the European Union’s new MiCA regulation.

The European Union is escalating its scrutiny of the artificial intelligence industry, including taking a fresh look into Microsoft’s multibillion-dollar partnership with OpenAI

Candidates in France are making their last campaign pushes for the first round of voting in a pivotal and polarizing legislative election

Indian students (75 females and 71 males) have been awarded the prestigious Erasmus Mundus scholarships for the 2-year master’s programme in Europe under Erasmus+ for the 2024 academic year, making India one of the top recipients of the scholarship. Worldwide, 2603 students from 137 countries have been awarded scholarships this year for the Erasmus Mundus Joint master’s degree, which offers a study programme jointly delivered by an international consortium of higher education institutions. 2024 also marks the 20th anniversary of the Erasmus Mundus Joint Master’s program, a milestone that underscores the program's positive impact on students, higher education institutions, and countries beyond the EU. India has been the largest beneficiary of the programme, with over 2000 students receiving the Erasmus Mundus Scholarship since its inception in 2004. Overall, more than 6,000 Erasmus+ short and long-term scholarships have been awarded to Indian students since the program opened to international students in 2004, providing access to state-of-the-art education and research facilities, international exposure, and valuable professional networks and thus opened up wider professional opportunities. To mark both these milestones, the Delegation of the European Union to India hosted an event for the grantees, celebrating the growing people-to-people links and mobility between the EU and India. These scholars are set to embark on their international degree programs in Europe starting this September.

more sustainable future. A key element of this strategy is the implementation of extended producer responsibility (EPR) policies. Recent events highlight the tightrope walk companies must perform to balance environmental responsibility with business interests.