Eu Financial News

The European Union’s executive commission has lowered growth its expectations for this year and next, saying the economy “has lost momentum” as inflation discourages consumers and higher interest rates deter borrowing for purchases and investment

Court ruled on Wednesday that the government's plan to send asylum seekers to Rwanda was unlawful, delivering a major blow to Prime Minister Rishi Sunak's pledge to stop people arriving in small boats. Here are details about the case and the issue: WHY IS IMMIGRATION SUCH AN ISSUE IN BRITAIN? Taking back control of the country's borders and ending the free movement of people was a major factor that led to the 2016 vote for Britain to leave the European Union. Successive Conservative governments had promised to cut net migration to under 100,000 annually before dropping that pledge before an election in 2019. While official data recording has changed, net immigration has continued to rise since Brexit, hitting a record of 606,000 in 2022, partly due to new visa routes for arrivals from Ukraine and Hong Kong. WHAT IS BRITAIN'S RWANDA PLAN? The Rwanda plan, struck in April 2022 by then Prime Minister Boris Johnson, is designed to deter asylum seekers from making the dangerous journey of about 20 miles (32 km) across the Channel from Europe in small boats or inflatable dinghies to England's southern beaches. Last year, a record 45,775 people were detected arriving without permission in Britain in this way. So far this year, more than 27,000 have arrived on small boats. Under the scheme, anyone who arrived in Britain illegally after Jan.

By Paul Carsten

methane gas emissions from the energy sector across the 27-nation bloc. According to experts, one of the biggest causes of climate change is methane gas emissions — second only to carbon dioxide. The gas also causes serious health problems.

European Union reached a deal early Wednesday on a law to place methane emissions limits on Europe's oil and gas imports from 2030, pressuring international suppliers to clamp down on leaks of the potent greenhouse gas. After all-night talks, negotiators from EU member states and the European Parliament agreed to a law which from 2030 will require importers of crude oil, gas and coal into Europe to prove those fuels meet a methane intensity limit. The law will now be put to the European Parliament and EU countries for final approval.

Last week brought several noteworthy developments in the evolving crypto regulation scene across the globe.

Adobe's $20 billion bid for cloud-based designer platform Figma is set to face an EU antitrust warning in the coming days, three people familiar with the matter said, a move that would ratchet up pressure on the Photoshop maker to offer remedies. Tech deals around the world have recently attracted tougher antitrust regulatory scrutiny amid fears that some bigger companies may be acquiring rival startups to shut them down or boost their market power.

A massive leak of documents has exposed how accounting giant PwC’s Cyprus arm scrambled to help Russian oligarchs facing the threat of sanctions in March last year, moving assets out of their names in the first days of the Ukraine invasion.

Flagship EU legislation that's meant to force European companies to screen out climate harms from their business operations faces being dramatically watered down

Poland faces a contentious and protracted transition of power

Current EU cost disclosure rules, known as PRIIPS, have caused investment trust charges to appear artificially expensive, deterring investment in various areas, particularly battery storage, wind and solar farms.

ATHENS (Reuters) — Greece's economy is expected to expand by 2.5% this year due to strong domestic demand, investments and EU funds, the International Monetary Fund said on Tuesday.

Correction (September 9th 2023): In an earlier version of this article we confused the EU’s anti-subsidy investigation into Chinese cars with an anti-dumping one. Sorry. © 2023, The Economist Newspaper Limited. All rights reserved. From The Economist, published under licence. The original content can be found on www.economist.comMilestone Alert!Livemint tops charts as the fastest growing news website in the world

Microsoft and Alphabet's Google will not challenge an EU law that would require them to make it easier for people to move between competing services — such as social media platforms and internet browsers, the companies said. In September, the European Union picked out 22 «gatekeeper» services, run by six of the biggest tech companies in the world, to face new rules as part of its latest crackdown on Big Tech.

countervailing duty (CVD) actions from the United States and the European Union on at least two products due to their utilization of the Remission of Duties or Taxes on Export Products (RODTEP) scheme. RODTEP, introduced by the Indian government to replace the Merchandise Export Incentive Scheme (MEIS), aims to refund levies on exported goods.

Investing.com-- Oil prices rose slightly in Asian trade on Tuesday, extending gains after a report from the Organization of Petroleum Exporting Countries helped ease some concerns over slowing demand.

United Kingdom Prime Minister Rishi Sunak reshuffled his cabinet Monday, and Britons can be forgiven if they don’t learn his new ministers’ names. They might not be around long. Changing ministers at this late date is unlikely to change the bleak Tory prospects in an election expected next year.

While the United States Federal Reserve decided to hold interest rates at its November meeting, they remain at their highest level since well before the global financial crisis (GFC) of 2008-09. The Federal Funds rate stands at 5.25-5.5%, similar to the United Kingdom’s 5.25%, while in the European Union it is at a record high of 4%.

David Cameron's return to government, but his appointment is one that British Prime Minister Rishi Sunak hopes will signal to wavering supporters that the Conservatives are not lurching to the right to win an election expected next year. As well as firing his interior minister, Suella Braverman, after she published an unauthorised article criticising the police's handling of protests, Sunak has used a wider reshuffle to bring back the prime minister who campaigned to remain in the European Union in a referendum on membership he called in 2016. It's a risky strategy — while welcomed by centrist lawmakers, the party's right senses the end of their increased dominance, built during the wars over EU membership, with one fearing the appointment amounted to a "Brexit surrender". «He has appointed the man who led the 'remain' campaign and who has got huge problems over his association with Greensill,» said a Conservative lawmaker on the right of the party, referring to Cameron's lobbying work for a now-collapsed supply chain finance firm. «Is he spoiling for a fight with Conservatives?» The decision to fire Braverman removes from the cabinet one of the most prominent supporters of leaving the EU and means even more of Sunak's top ministers supported remaining in the bloc in 2016. Out of the 29 cabinet roles, at least 16 backed remaining in the EU, compared with 10 who supported leaving. Sunak backed Brexit.

Israel-Hamas war in Gaza, European Union High Representative for Foreign Affairs and Security Policy Josep Borrell said on Monday that he will visit multiple Middle Eastern countries to discuss humanitarian access and assistance in the war-torn region. He asserted that the ongoing situation in Gaza needs two-state solutions and can only be achieved through dialogue. Taking to X, the EU official said, «I will travel to Israel, Palestine, Bahrain, Saudi Arabia, Qatar and Jordan this week to discuss humanitarian access and assistance and political issues with regional leaders. We need a political horizon looking towards the two-state solution.

The National Stock Market Commission (CNMV), Spain’s principal securities market regulator, called out fraudulent crypto assets promos on X (formerly Twitter) and reiterated the obligation of companies to comply with local laws.