Author: Euronews

Renewed packages of sanctions from the EU and US were supposed to weaken the Russian economy. Instead, it has adapted, and remains robust just as Vladimir Putin is about to get reelected for a fourth presidential term. ADVERTISEMENTThe resilience of the Russian economy is without a doubt a key selling point for President Putin, who’s been continuously leading Russia since 1999, either as President or Prime Minister. But it was not supposed to be the case. After the invasion of Ukraine in 2022, many large companies left Russia, and both the EU and US coordinated and renewed several rounds of sanction…

The complex lending instruments that caused the 2008 crisis top a wishlist of financial reforms. ADVERTISEMENTEuro area ministers on Monday (11 March) agreed a wishlist of financial reforms – led by a controversial relaunch of securitisation, the banking-sector instruments that caused the last financial crisis.Compared to other major economies like the US, the EU economy is largely dependent on bank financing – and policymakers are keen to find alternatives such as fundraising via stock issuance.Of the 13 measures proposed by finance ministers, number one was to help banks to offload risks via the complex structured products – but that isn’t…

Sweden and Spain also saw slowing inflation, helped by food and non-alcoholic beverage prices falling, as well as clothing and footwear prices. ADVERTISEMENTThe National Bank of Ukraine announced its March interest rate decision on Thursday, slashing key policy rates by 50 basis points, to 14.5%. According to the central bank, steady foreign exchange rates, reducing inflation and falling risks of decreased foreign aid were behind this decision.Price growth in Ukraine slowed more than expected to 4.3% in February 2024. However, the National Bank of Ukraine said: “The course of the full-scale war continues to be the key risk to inflation…

Groundbreaking new EU laws to safeguard the independence of newsrooms received the final seal of approval by the European Parliament on Wednesday. ADVERTISEMENTThe Media Freedom Act – first proposed by the EU executive in September 2022 – was overwhelmingly adopted on Wednesday with 464 votes in favour, 92 against and 65 abstentions.The Act will oblige EU governments to better protect media against malign interference and limit the use of spyware against journalists. Outlets will also have to transparently disclose information about ownership, funding and state advertising.A bespoke EU body, called the European Board for Media Services, will be established to oversee…

The proposed law comes in response to a UAE-backed bid for The Daily Telegraph newspaper and The Spectator magazine. ADVERTISEMENTThe UK government is seeking to curb foreign state influence over the country’s media following a United Arab Emirates-backed investment firm’s attempt to take over two national publications.During a debate in the House of Lords on Wednesday evening, media minister Stephen Parkinson said the government would propose an amendment to the “Digital Markets, Competition and Consumers Bill” currently making its way through Parliament.The amendment would prevent foreign state ownership of newspapers and news magazines, although it would still need to be…

The Eastern African country provides accommodation and a plot of land to people fleeing wars in neighbouring countries, but the gap between needs and resources is increasing. ADVERTISEMENTDamaria Chimpaye’s eyes light up when her children appear in the distance. At 41, she has given birth nine times, lost her home and husband, and does not know where three of her children are. She is from the Democratic Republic of Congo, but has for almost two years been living in Uganda.The East African country is home to 1.6 million refugees, the largest number relative to population in Africa, and the third in…

The French sporting goods company wants to modernise its image ahead of this year’s Olympics. ADVERTISEMENTWith Spring in mind, French sports retailer Decathlon has announced the launch of its rebrand as it anticipates a growth in demand for sports gear. The French retailer is an official sponsor of the **Paris 2024 Olympics**and it is hoping its logo and emblematic brands will enjoy boosted visibility because of the event. The obvious change is the brand’s new visual identity, going from an almost turquoise sky blue to a deeper, darker cobalt blue. Stores will also go through a similar metamorphosis, although it will take time.…

The European Parliament has made good on its threat and will file a lawsuit against the European Commission over the release of €10.2 billion in frozen funds to Hungary. ADVERTISEMENTThe move, anticipated on Monday evening, was rubber-stamped on Thursday morning by the Parliament’s president, Roberta Metsola, during a meeting with the leaders of the political groups. Metsola has the final authority to launch legal action against other institutions before the European Court of Justice.The deadline for submission is 25 March.With the lawsuit, the hemicycle piles pressure on Ursula von der Leyen as she seeks a second term at the helm of the…

Adidas reports first annual loss in three decades as sales take a hit after the company stopped sales of the popular Yeezy sneaker line. ADVERTISEMENTSports apparel giant Adidas has reported its first annual net loss in three decades, due to high levels of US inventories and lower demand impacting sales. The company saw a net loss from continuing operations of €58 million for the full year 2023.The company also reported that North American sales dropped 21% in the last quarter of 2023 and 16% throughout the year. The company has taken a significant hit due to stopping sales of the…

Finland’s prime minister addressed on Wednesday the European Parliament and outlined his political priorities for the next legislature. ADVERTISEMENT”My government is committed to a strong European Union. An EU that acts not only reacts. We want to build a Union that takes care of our common security and works for our economy,” Petteri Orpo told lawmakers.But the premier’s speech quickly descended into finger-pointing and recriminations over his alliance with the Finns Party, a populist, Eurosceptic party that has been plagued by racism, anti-Semitism and neo-Nazism scandals.The Finns Party sits with the hard-right European Conservatives and Reformists group (ECR) in the Strasbourg hemicycle, while…