Author: Euronews

While new figures confirm economic stagnation in the EU at the end of last year, eyes turn to predictions from Bank of America that the ECB will cut interest rates in June. ADVERTISEMENTEconomic activity in both the euro area and the European Union experienced stagnation in the last quarter of 2023, according to new data.Eurostat’s third estimates released on Friday show that Denmark led with a notable GDP increase of 2.0%, trailed by Croatia at 1.3%, and Slovenia at 1.1%. On the flip side, Ireland experienced the most significant decline at -3.4%, followed by Estonia and Finland, both at -0.7%.Excluding the…

For years, the centre-right EPP group has drawn a red line on the eurosceptic, far right forces in the European Parliament. That line could shift after June’s European elections. ADVERTISEMENTThere was confidence in the air as the European People’s Party kicked off its pre-election campaign in Bucharest on Thursday. The group is projected to scoop up almost a quarter of the vote to win June’s ballot, and remain the European Parliament’s biggest faction. But with its vote share stagnating as the far right surges – and with its fellow mainstream parties in demise – questions are mounting over whether the EPP will…

Novo Nordisk, of anti-obesity drug Wegovy fame, reveals encouraging initial trial data for new weight loss drug that could potentially overtake Wegovy. ADVERTISEMENTPharmaceutical giant Novo Nordisk has recently overtaken electric vehicle maker Tesla, in terms of market valuation, following upbeat initial trial data for a new obesity drug.Novo Nordisk, already well known for the popular obesity drug Wegovy, had a market valuation of about $566 billion (€517.6 billion), on Thursday, as shares rose about 8%. That is more than companies such as Tesla and Visa, according to London Stock Exchange Group (LSEG) data. It also surpassed LVMH as Europe’s biggest…

The European Union is backing a long-awaited maritime corridor allowing aid to be shipped from Cyprus to the coast of Gaza, European Commission Ursula von der Leyen confirmed during a visit to the port of Larnaca on Friday. ADVERTISEMENTThe Cyprus-led initiative, named ‘Amalthea’, is backed by Western and Arab partners including the United States, the United Kingdom and the United Arab Emirates. It will allow a surge in humanitarian aid deliveries, which have been severely constricted by the land routes controlled by Israel since the outbreak of the war. It comes as leaders warn of a humanitarian catastrophe in Gaza, where…

Only 43% of women have asked for a pay rise during their careers, despite most feeling unsatisfied with their salaries. ADVERTISEMENTThe gender pay gap is a significant stumbling block on the road towards a fairer world.Despite major advances towards equality, European women are still earning 13% less than men doing the same job.Wage disparities have a number of underlying causes, but one such driver can be called ‘the confidence gap’.According to a recent study by employment site Indeed, only 43% of women globally have ever asked for a higher salary during their careers.This is despite over half (56%) not believing…

These include protecting the rights of minorities and the right of a state to self-determination. ADVERTISEMENTThe European Free Alliance’s goal for the European elections in June 2024 is to ensure that minority rights are respected in the European Union and also the right to self-determination. These are some of the main demands of its manifesto, which it presented on Friday after a two-day assembly in Brussels, Belgium.The event was attended by its two main candidates or spitzenkandidaten, Maylis Rosberg and Raül Romeva, who were presented last October. The party has called for the need for a European Commissioner to defend the rights…

CNOOC’s Kaiping South discovery could lead to more investment in deep-water South China Sea exploration in the coming months. ADVERTISEMENTChina’s third largest national oil and gas company, China National Offshore Oil Company (CNOOC), has recently revealed that it has made a massive deep-water oil discovery in the Kaiping South oilfield. This will add more than a hundred million tons of oil equivalent to the oilfield’s total proved in-place volume.The Kaiping South oilfield is 300 kilometres off the coast of Guangdong province, in the South China Sea. It is one of China’s offshore oil fields, mainly yielding light crude oil. With…

Thierry Breton, the European Commissioner for the single market, has found himself in hot water after he shared a scathing post against the European People’s Party (EPP), raising ethical questions ahead of the elections. ADVERTISEMENTIn a short but explosive message, Breton denounced the centre-right group for failing to deliver an overwhelming endorsement to Ursula von der Leyen as lead candidate.At the end of the EPP congress in Bucharest on Thursday, von der Leyen received 400 votes in favour and 89 against. In total, 737 delegates had voting rights and 591 registered to vote, according to the party. (The message that Breton highlighted erroneously put…

On International Women’s Day, Northern European countries stand out for women who are looking to develop their careers. ADVERTISEMENTInequalities in access to work, career progression, and rewards are still an everyday reality for women in Europe, but which countries offer better career opportunities for women than others?New research released on International Women’s Day by Claims.co.uk based on data from the World Economic Forum (WEF) shows that Nordic nations, particularly Iceland, emerged as the leading countries in fostering women’s career advancement.The study uses an index to indicate which is the most progressive country for female employment, weighing factors such as female…

With under 100 days to go before Europe votes in the EU elections, Euronews caught up with EPP President, Manfred Weber, about war in Europe and the economic challenges posed by China. ADVERTISEMENTPresident of the European People’s Party, Manfred Weber, told Euronews that the EPP parties will be “the first row to defend Europe against nationalists.”In an interview with Euronews and Euronews Romania at the European People’s Party Congress in Bucharest, Weber said that by nominating Ursula von der Leyen as the lead candidate for the European elections, the EPP sends “a message of stability in times of uncertainty with…