Author: Euronews

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…

Russian inflation in February was mostly boosted by increases in services and non-food product inflation. ADVERTISEMENTRussia’s year-on-year inflation rate for February climbed to a one-year high of 7.7%, hovering above analyst expectations of 7.6%The figures published by the Russian Federal State Statistics Service on Wednesday were quite a step up from January’s 7.4%. It was also almost double the 4% target set by Russia’s central bank. Additionally, core inflation touched a one-year high in February, at 7.6%, up from 6.8% in January. Month-on-month inflation stabilised slightly, clocking in at 0.7% in February, down from 0.9% in January.The escalation in year-on-year…

European Union countries reached on Wednesday evening a hard-fought deal to boost and revamp military assistance to Ukraine. ADVERTISEMENTThe agreement struck by ambassadors in Brussels will inject an additional €5 billion into the European Peace Facility (EPF) until the end of the year, which will come on top of the €6.1 billion committed since early 2022.The EPF gained prominence in the immediate aftermath of Russia’s war as member states rushed to provide Kyiv with the military equipment kept in their national stocks.The facility partially reimburses the costs of these donations, allowing all countries, from the largest to the smallest, to…

Last year was a big year for the film industry and blockbusters such as Barbie and Oppenheimer. Older movies, too, still gain from the merch craze. ADVERTISEMENTBarbie and Oppenheimer came out tops in the cinema world in 2023, winning both the approval of the public and Hollywood’s most-respected award-giving juries. However, while these films are profiting from their most recent release, older movies are still appealing to the punters.Costumes, makeup, accessories or even swords and magic wands are all part of classic merchandise fancied by some movies’ fans. Whether those items are purchased around the film’s release or continue to…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. The incoming EU lawmakers have a choice: confront and act against the menace of spyware to ensure our safety and the integrity of our democracy or become its next targets, Shubham Kaushik and Chloé Berthélémy write. ADVERTISEMENTIf you thought that a major attack on EU democracy would stir lawmakers into finally taking action against spyware, the events of the last few weeks would prove you wrong.In February, Brussels was rocked by reports of phone hacking and spyware…

Insurance firms in England are being sued by Nord Stream after refusing to cover pipeline sabotage costs. ADVERTISEMENTSwitzerland-based energy consortium Nord Stream has launched a €400 million lawsuit against insurers including Lloyds of London and Arch Insurance.The contractual disputes relate to the ruptured pipelines Nord Stream 1 and 2, which were designed to transport Russian gas to western Europe.After an underwater explosion in 2022, most of the infrastructure was damaged, causing energy prices to rocket in Europe.Nord Stream is now suing its insurers, claiming that they failed to pay for damages after the incident.According to legal documents, the energy firm…

Lawmakers in the European Parliament today (13 March) approved the AI Act, rules aimed at regulating AI systems according to a risk-based approach. ADVERTISEMENTLawmakers in the European Parliament today (13 March) approved the AI Act, rules aimed at regulating AI systems according to a risk-based approach with an overwhelming majority. The law passed with 523 votes in favour, 46 against and 49 abstentions.The act, which needed final endorsement after approval on political and technical level, will now most likely enter into force this May. Source link

The Moroccan government is betting on green hydrogen to spearhead its sustainable energy transition. ADVERTISEMENTOne million hectares of land have been earmarked in Morocco for green hydrogen projects, the government announced in a statement on Monday.As part of the first phase, 300,000 hectares will be made available to investors, both foreign and domestic.Green hydrogen refers to hydrogen that has been produced through electrolysis by using renewable energy, rather than relying on electricity generated by fossil fuels.This hydrogen can then be used as a clean energy source, only generating water vapour and heat as byproducts.According to the Moroccan government, hundreds of…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. As antisemitism has risen to record levels all over the world in recent months, the Bulgarian government is to be commended for understanding rapidly evolving attacks on Jews and the Jewish State, Robert Singer and Prof Rumyana Marinova-Christidi write. ADVERTISEMENTIn recent years, the issue of antisemitism has been taken more seriously around the world, especially as hate against Jews keeps rising.The adoption of national plans to combat antisemitism and the appointment of special envoys for monitoring and…