Author: Euronews

The majority of the scams targeting consumers are happening on social media, according to a new report. ADVERTISEMENTFraud in the UK more than doubled in value in 2023 compared to the previous year, according to financial services firm BDO.The firm’s latest FraudTrack analysis shows that the total reported value of fraud in the UK reached a whopping £2.3 billion (€2.69 billion) last year.It works out at a 104% increase on 2022, although BDO notes that the huge rise is mainly due to a few high-value cases.The £2.3 billion sum is approximately the total lifetime earnings of some 1,645 people (assuming they received the…

All European Union countries, except for Hungary, have jointly called for an eventual ceasefire in Gaza and urged Israel not to launch its planned assault on Rafah. ADVERTISEMENTBudapest refused to endorse the call, despite pressure from other capitals, and also single-handedly derailed EU plans to collectively slap sanctions on violent Israeli settlers, first tabled in December following a fresh bout of attacks on Palestinians in the West Bank.It followed ten hours of intense talks between EU foreign ministers on Monday, during which Hungary’s Péter Szijjártó dug in his heels and blocked consensus on both issues.In a rare occurrence for the…

While startup CEOs focus mainly on assessing market demand and navigating competition in the early business year, scaleup CEOs need to be much more focused on long-term strategy. ADVERTISEMENTDid you know that about 900,000 new businesses were set up in the UK in 2023, according to the NatWest and Beauhurst New Startup Index? This was a new record and an 11.8% hike from 2022. Out of these, about 318,000 were based in London, a 20% increase from 2022.The top three sectors were online retailing, which saw the launch of about 43,195 companies, followed by the real estate and property rental sector,…

The European Union must strive to keep its democracy “safe and secure,” Ursula von der Leyen told Euronews after announcing her re-election bid. ADVERTISEMENTThe German politician confirmed on Monday afternoon her desire to lead the European Commission for another five years. The news caps off weeks of mounting speculation and heats up the presidential race ahead of the elections to the European Parliament.If re-elected, von der Leyen is determined to make defence one of the most significant and structural priorities of her second mandate. Defence was for years a low-profile policy area in Brussels until Russia launched the full-scale invasion…

Israel’s economic output plummeted in the final three months of 2023, mainly driven by a large drop in private consumption. ADVERTISEMENTIsrael’s economy has been badly affected by its war with Hamas following the attack on Israel on 7 October 2023, with output in the final three months of 2023 falling a dramatic 19.4% compared with the same period of 2022.The fall was more than market analysts had expected and marks the biggest contraction in almost four years, according to Israel’s Central Bureau of Statistics’ first estimate.The decline was partially due to a dive in business activity as workers were called up…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. The European Commission needs to identify key strengths and weaknesses of the European innovation landscape, and how best to overcome these, Olivier Joris writes. ADVERTISEMENTThe EU is losing ground to its global competitors, and this is partly due to legislation that sometimes creates unexpected barriers to research and innovation.This is problematic since innovation is critical for achieving Europe’s green and digital transitions towards sustainability, for strengthening Europe’s competitiveness and for delivering on the UN’s Sustainable Development Goals. As…

Recovery and reconstruction are part of Japan’s DNA. The Asian country is aiding war-torn Ukraine in several ways that include managing the disposal of debris, building infrastructure, and providing humanitarian aid. ADVERTISEMENTAs the second anniversary of Moscow’s invasion of Ukraine approaches, Euronews reporter Cinzia Rizzi headed to Tokyo to learn more about how Japan is supporting the war-torn country. It comes as the Asian country geared up for the Japan-Ukraine Conference for Promotion of Economic Reconstruction.Despite being left with almost nothing after World War II, Japan recovered quickly with the record period of economic growth garnering the label “the Japanese…

Yulia Navalnaya, the wife of Russian opposition leader Alexei Navalny who died in a Russian prison on Friday, delivered a charged political message ahead of a meeting with European Union foreign ministers on Monday. ADVERTISEMENT”I will continue the work of Alexei Navalny, continue to fight for our country. And I invite you to stand next to me,” Navalnaya, an economist known widely as the ‘first lady’ of Russia’s silenced opposition, said in a video message on social media.”Keep fighting and do not give up. I’m not afraid, and neither should you be,” she added.Her words come three days after her husband…

The French government’s predictions for lower economic growth in 2024 put an early dampener on the mood of the markets. ADVERTISEMENTEuropean shares were fairly downbeat on Monday morning, following French stocks being particularly downcast due to the French government cutting the country’s economic growth for 2024.France’s gross domestic product (GDP) outlook was slashed from 1.4% to 1% for the year, due to the ongoing damage caused by the Russia-Ukraine war as well as reduced trade with China and Germany.The CAC 40 index dropped 0.43% to 7,734.6, whereas the Stoxx 600 index was mostly flat at 491.6. Conversely, the FTSE 100…

The European Union on Monday formally launched a bespoke naval mission to protect commercial vessels in the Red Sea from attacks by Iran-backed Houthi rebels. ADVERTISEMENTMission ‘Aspides’ – Greek for shield – will aim to preserve freedom of navigation in the Red Sea and the Gulf of Aden, a region plagued with instability since October when Houthi rebels began targeting vessels navigating the waterway with a barrage of drone and rocket attacks.The Houthis, an Iran-backed rebel group that controls a part of Yemen, say their attacks are in retaliation for Israel’s war in Gaza that has so far claimed the…