Eu Financial News

European Central Bank President Christine Lagarde proposed granting more powers to the European Union’s securities watchdog, turning it into the regional equivalent of the US Securities & Exchange Commission. 

The ECB's Enria has encouraged international standard-setters within the Basel Committee on Banking Supervision to bring order to this market.

Oil prices drop over $3 on China's demand concerns, US crude stock; Brent crashes to $78/bbl Both of these crucial benchmarks marked a 9.12% decline this month so far, reaching their lowest levels in four months. The substantial decrease in crude oil prices on Thursday followed a larger-than-anticipated build-up in U.S. oil inventories.

The European Commission will continue the use of the controversial chemical herbicide glyphosate in the European Union for 10 more years after the 27 member countries again failed to find a common position

TikTok and Meta are filing legal challenges against new European Union rules designed to counter the dominance of digital giants and make online competition fairer by giving consumers more choice

The European Union has been actively preparing for what it envisions as the future of money. In the past year, it finalized its landmark comprehensive crypto legislation, the Markets in Crypto-Assets Regulation (MiCA), which is due to take effect in 2024 after closing its second consultation in October. 

FRANKFURT (Reuters) — The European Central Bank's chief supervisor on Thursday supported creating global standards for convertible bonds that were wiped out as part of Credit Suisse's rescue by rival UBS earlier this year.

₹6,300 a tonne, according to an official notification. For the past two weeks the the levy stood at ₹9,800 a tonne. The revised tax rate comes into effect from Thursday.

In less than a month, leading economies have formally underlined their commitment to the development of responsible artificial intelligence (AI). In the US, President Joe Biden issued an executive order setting out standards for AI safety and security. The UK’s AI Safety Summit saw 28 countries and the EU coming together to release the Bletchley Declaration, promising “to work together in an inclusive manner to ensure human-centric, trustworthy and responsible AI." The G7 leaders released their International Guiding Principles on AI and a voluntary code of conduct for AI Developers under the Hiroshima AI process.

Greenwashing concerns may explain the support investors expressed for new disclosure requirements, PwC said.

According to a recent report by Computer World, Apple is planning to allow iPhone users in the EU to install apps from outside the official App Store to comply with the region’s new Digital Markets Act. This potential change has raised concerns among cybersecurity experts about an increase in phishing attacks targeting crypto users.

PayPal, a notable player in the global payments realm, has secured approval from the Financial Conduct Authority (FCA) to offer cryptocurrency-related services in the United Kingdom. The authorization was disclosed on the FCA's website, affirming that PayPal has been registered for «certain crypto asset activities» in the region since October 31, 2023. This development is part of PayPal's broader scheme to establish a dedicated facility in the UK, aligning with the post-Brexit operational landscape.

By Supantha Mukherjee and Foo Yun Chee

By Foo Yun Chee

Also Read: US October wholesale prices fall to 0.5% in biggest monthly drop since April 2020 Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a November 17 expiry, was last trading lower by 1.43 per cent at ₹6,415 per bbl, having swung between ₹6,393 and ₹6,548 during the session far, against a previous close of ₹6,508 per barrel. -Top oil exporters Saudi Arabia and Russia said this month they would continue with their additional voluntary oil output cuts of 1.3 million barrels per day until the end of the year.

The European Union’s executive has proposed to the member states a new package of sanctions targeting Russia

Estonia’s Prime Minister Kaja Kallas is signaling that she's willing to put her name forward for NATO’s top job when it falls vacant next year

By Koh Gui Qing and Danilo Masoni

The European Union proposes to make labor migration easier for specific jobs where the 27 nations can no longer find a local talent pool

Germany introduced a new licensing regime for crypto services in 2020 along with an amendment to the EU's Money Laundering Directive, in order to encourage regulated firms to enter the crypto market.Commerzbank first applied for a licence in April 2022. German rival Deutsche Bank followed suit in June this year.Commerzbank has yet to release details of the technology stack for the venture, but says that it aims "to establish a secure and reliable platform with full regulatory compliance to support its institutional clients by providing custody for crypto assets based on blockchain technology".The initiative reognises the de-thawing of banking interest in the market following the recent 'crypto-winter'.

The Dutch government has abandoned, for now, plans to rein in flights at Amsterdam’s busy Schiphol Airport