Author: Euronews

Ageing technology and COVID-19 belt tightening are some of the challenges faced by China in its race to achieve semiconductor independency. ADVERTISEMENTChina is currently the world’s top semiconductor consumer, accounting for more than 50% of global consumption, according to the Centre for International Governance Innovation. Along with this, it is also the world’s fifth largest semiconductor manufacturer, following Taiwan, South Korea, Japan and the US.China has also highlighted several times in the past that it aims to become an artificial intelligence superpower in the coming few years. Naturally, the US has not taken kindly to these statements, amid increasing geopolitical…

UK authorities have the power to fine a tenth of businesses’ global turnover if greenwashing has been proven. And a recent report finds that almost half of big businesses in the UK are at risk. ADVERTISEMENTIn the UK, 4 out of 10 large businesses face hefty fines for greenwashing in 2024, as a major toughening up of consumer protection law from the Competitions and Markets Authority (CMA) and the EU comes into force.According to a new analysis of sustainability by the communication platform Compare Ethics, businesses are not mitigating the real risk yet, which includes a fast-changing environment in which every…

The cornerstone of Irish economic policy has been low corporation tax, so what will a minimum levy mean for the country? ADVERTISEMENTStretched out along Dublin’s river Liffey is an expanse of glass office buildings.Sometimes referred to as the ‘Silicon Docklands’, the nickname points to the neighbourhood’s status as a corporate magnet.Major firms – famously Big Tech – have long flocked to Ireland, enticed by the country’s low level of corporation tax.Since 1997, the official rate has been held at 12.5%, although this changed in January with the arrival of a long-awaited reform.Along with around 140 other nations, Ireland introduced a…

France’s inflation rate stood at 3% in February year-on-year, only 0.1% lower than the previous month. ADVERTISEMENTConsumer prices rose 0.9% in February compared with January, the French statistical office INSEE said on Friday. Although inflation is generally decreasing in France, many people may feel they are not actually seeing much of a change in their monthly expenses. Food prices are still rising, but at a slower rate than they were. Year-on-year food items were 3.6% more expensive last month – the figure reached 5.7% in January. Energy prices are also keeping household spending on the rise, with a 4.3% increase in February…

The mobile phone giant will offload Vodafone Italia in an effort to streamline operations and tackle sliding share prices. ADVERTISEMENTVodafone has agreed to sell its Italian business to Bern-based telecommunications firm Swisscom for €8 billion in cash, according to a statement released on Friday.Swisscom will merge Vodafone Italia with its existing business Fastweb to create Italy’s second-biggest fixed-line broadband operator, behind TIM.As part of the agreement, Vodafone has said it will return €4 billion to shareholders via stock buybacks, and cut its dividend to 4.5 cents a share from next year, down from 9 cents in 2024.The deal is expected…

Italy’s retail sales climbed by 1% in January, while inflation remained well contained at 0.8% in February. The FTSE Mib index has seen five consecutive months of gains, but overbought conditions emerge. ADVERTISEMENTLatest data for the Italian economy unveiled an unexpectedly robust surge in retail sales for January, coupled with a sustained low inflation rate throughout February.Italy’s retail sales surged by 1% in January 2024 compared to the previous month, marking the highest monthly growth rate in the past year and surpassing estimates of a 0.2% increase. However, the yearly variation showed a slight decrease of 0.1%, attributed to similarly…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. If Ukraine never emerged as an economic powerhouse after three decades of faithfully following standard Western recommendations, perhaps it is time to try a different approach, Dmytro Boyarchuk writes. ADVERTISEMENTUkrainians are fighting tooth and nail against Russian aggression, recognizing the urgent need for a sustainable economy that can withstand the challenges of “perpetual war”.Vladimir Putin, exploiting the West’s reluctance to bear escalating costs, is sticking to the strategy of wearing down democratic nations by increasing the financial…

The US has five financial centres in the global top 10 while Europe only pulls in two, but how do European cities rank among themselves? ADVERTISEMENTIn the rapidly evolving landscape of global finance, European cities are in fierce competition to establish themselves as robust financial centres – an attractive label that can bring with it crucial investment from business owners and heightened attention from policymakers. In a recent ranking by the Global Financial Centres Index (GFCI), seven European cities feature in the world’s top 20 financial hubs. While the US dominates the upper end of the list, with New York taking the number…

Despite a robust fiscal year 2024 first quarter, the company anticipates a downturn in the second quarter as competition from other artificial intelligence companies grows. ADVERTISEMENTAdobe released its Q1 fiscal year 2024 earnings on Thursday, posting record Q1 revenue. However, despite the company’s stellar first quarter performance, it shared downbeat forecasts for its second quarter. This was mainly due to increased anxieties about higher competition regarding its current artificial intelligence products.Adobe shares plunged 12.1% to €461.8 on Thursday, following the earnings release, as spooked investors rushed to sell.Referring to Q1’s results, company CEO and chairman Shantanu Narayen said in a…

After weeks of uncertainty, new EU rules on sustainable supply chains seem likely to pass into law. ADVERTISEMENTEU member states on Friday (15 March) have voted in favour of a landmark new law requiring companies to check supply chains for dodgy environmental and labour practices.MEPs and government officials struck a tentative deal on the corporate sustainability due diligence directive, or CSDDD, in December – but its future was thrown into doubt after last-minute hesitation from Germany and Italy.Now the measures seem likely to pass into law, after Italy approved a stripped-down version of the legislation at a regular meeting of…