Author: Euronews

The tech giant is set to lay off workers in its Amazon Web Services unit as part of a restructuring strategy. Source link

A draft seen by Euronews accuses Ursula von der Leyen of political favouritism in selecting Markus Pieper, from her own party, for the lucrative official post. ADVERTISEMENTMEPs from multiple major political parties will call for the European Commission to rethink a controversial official hire next week, accusing its president Ursula von der Leyen of political favouritism, sources have told Euronews.Lawmakers want the appointment of Markus Pieper as Commission envoy for small and medium-sized enterprises (SMEs) to be rescinded when they debate the commission’s budget next week, according to a draft amendment seen by Euronews.The amendment “notes with concern that the…

Prices in Switzerland remained unchanged compared to the previous month and rose only slightly in a yearly comparison. ADVERTISEMENTAnnual inflation slowed as prices rose 1% compared to the previous year in Switzerland, the Federal Statistical Office reported on Thursday. The rate of the price increase was less than expected and also slower than the 1.2% measured in the previous month.As a matter of fact, it was the slowest since September 2021, vindicating the surprise rate cut from the Swiss National Bank (SNB) last month.Annual core inflation, excluding volatile items such as food and energy prices, also slowed to 1% from the previous 1.1%. Prices…

In an attempt to improve the reputation of the European institutions, an inter-institutional ethics body has been set up and Parliament’s Rules of Procedure have been amended. However, experts admit that this is not enough. Source link

Avia Solutions Group is the latest to announce expansion into the US, following the likes of other European companies such as Flutter Entertainment, CRH and Smurfit Kappa. ADVERTISEMENTIreland-based Avia Solutions Group, the world’s largest aircraft, crew, maintenance and insurance (ACMI) provider has recently taken further steps to enter the US market, through its tie-up with Impact investments.The latter will support Avia Solutions with financial and strategic development counsel. In turn, this is expected to go a long way in helping the group expand further into the US.Avia Solutions already has offices in California, New York and Florida. Apart from these…

The controversial decision to hire Germany’s Markus Pieper may need a second look, fellow Commissioners suggest. Source link

Support for unemployed individuals should be reformed to reduce the government deficit, according to France’s new PM. ADVERTISEMENTThe French government wants to boost workforce numbers by changing the way it financially supports unemployed individuals.This initiative, spearheaded by Prime Minister Gabriel Attal, comes after France gave a downbeat economic update last week.In 2023, France’s budget deficit widened to 5.5%, significantly overshooting the state’s target of 4.9%.Responding to the data, the government claimed it will not increase taxes, but it is instead looking for other means to plug the gap between spending and income.One of the hallmark’s of President Emmanuel Macron’s tenure…

The European Commission’s approval rating is deeply split in the EU and alarmingly low in a handful of member states, new polling shows, raising questions over Ursula von der Leyen’s bid for a second term at the executive’s helm. ADVERTISEMENTThe exclusive polling for Euronews by Ipsos reveals that a majority of voters (63%) either view the Commission’s work negatively or have no opinion, suggesting the EU executive is not cutting through to most Europeans.Of a sample of 26,000 EU citizens in 18 member states, 37% said they viewed the work of von der Leyen’s Commission positively, while 31% said they…

Eurostat data for March 2024 revealed a drop in annual consumer price inflation to 2.4%, below the expected 2.6% and hitting a four-month low. Market foresees four ECB rate cuts by end-2024, with the first expected in June. Source link

Gold prices have been boosted in the past few months due to increasingly sticky inflation in the US, as well as rising geopolitical uncertainties. ADVERTISEMENTGold prices soared to all-time highs of $2,266.6 (€2,107.9) per troy ounce on Tuesday, before settling lower at $2,257.8 per troy ounce near the end of the trading session. This was largely due to increased interest in momentum-following funds.Rising geopolitical uncertainties, especially following the recent Israeli attack on an Iranian embassy in Syria on 1 April, has resulted in investors flocking to the deemed safe haven asset.The precious metal also received a significant boost from major…