Author: Euronews

Italy’s competition watchdog, AGCM, fines BAT and Amazon €7 million for deceptive advertising on heated tobacco products. ADVERTISEMENTItaly’s competition watchdog has fined British American Tobacco (BAT) €6 million and Amazon €1 million respectively for what it describes as misleading advertising related to heated tobacco products. The advertisement failed to provide sufficient information to consumers about the nicotine content and health risks associated with using the Glo Hyper X2 and Glo Hyper Air products, watchdog AGCM said.  “The Glo Hyper X2 and Glo Hyper Air were not advertised in a truthful and adequately informative manner for consumers,” AGCM said in a statement.”The…

New EU rules aim for easier access to cash with fairer charges, Poland’s Marek Belka said. ADVERTISEMENTA draft of new EU regulations on payment services was approved by lawmakers on Wednesday (14 February), in a move promising to make transactions cheaper, safer and more unified across the bloc.The cross-party plans ensure cash machine users are informed about fees, and make social media companies responsible for tackling “hi mum!” impersonation scams, Marek Belka (Poland, Socialists and Democrats) told reporters.“The main objective of this dossier is to make payments more user friendly – also for old people like myself – cheaper and…

The bloc sharing the euro has seen its economy practically motionless in the last year as it continues to stagnate. ADVERTISEMENTEconomic output remained unchanged in the eurozone in the final three months of 2023, and slightly expanded in the EU, confirming the first estimates from Eurostat. The eurozone economy’s stagnation follows a 0.1% contraction in the previous quarter, meaning that the bloc has just avoided a recession, essentially avoiding two consecutive quarters of decline in gross domestic product (GDP).The economy has not shown any sign of life over the last year, contracting or growing by a slight 0.1% since the beginning…

Prime ministers Pedro Sánchez and Leo Varadkar have asked the European Commission to “undertake an urgent review” of the EU-Israel agreement in light of the war in Gaza and the worsening humanitarian crisis. ADVERTISEMENTIn a joint letter addressed to Ursula von der Leyen and sent on Wednesday morning, the two leaders raise serious concerns over Israel’s military campaign and potential violations of human rights and international law, emphasizing the recent resolution of the United Nations General Assembly and the ruling of the International Court of Justice, which found some of Israel’s actions “may fall” within the Genocide Convention.Among the bloc’s…

Airbnb reported mixed fourth quarter (Q4) results on Wednesday but highlighted a rise in bookings due to demand remaining strong. ADVERTISEMENTRevenue climbed 17% to $2.2 billion in the same quarter a year ago, while adjusted earnings came in at $738 million, representing a 46% increase from Q4 2022.However, net income came in at a loss of $349 million, according to the company’s latest earnings.Its stock closed down 1.94%, at the time of writing, and was set to stay in the red ahead of Wall Street markets opening on Wednesday.Q4 results follow tax dispute settlementThe company’s latest Q4 financial results come…

Euronews takes a closer look at why Jeff Bezos might have opted to sell €3.7bn ($4bn) of his Amazon stock over the past week. ADVERTISEMENTAmazon founder, Jeff Bezos, has not explained why he has opted to sell 24 million shares in the company he started, worth around $4bn (€3.7bn), although the selling plan was on the agenda.Regulatory filings confirmed the amounts that the billionaire has offloaded in recent days – and whilst he is yet to comment on the transactions, Amazon said in February that Bezos was planning to sell 50 million shares in the company via Morgan Stanley by…

If you’re planning a romantic takeaway meal for two later then you may want to reconsider your options as Deliveroo and Uber Eats drivers plan strike action. ADVERTISEMENTFour food apps, also including Just Eat and Stuart.com, are taking action over pay, essentially demanding more of it.Some 3,000 drivers in the UK are expected to be involved in the strikes, that will take place from between 17:00-22:00.”Sacrificing a few hours for our rights is essential, instead of continuing to work incessantly for insufficient wages,” Delivery Job UK said on its Instagram page.”Our request is simple: we want fair compensation for the…

The chipmaker continues to go from strength to strength amid the AI boom. ADVERTISEMENTArm’s share price has almost doubled since it announced its earnings last week, as the UK chipmaker continues to make strides on the US stock exchange.Shares stood at $148.97 at market close on Monday, compared to $77.01 the Wednesday before, the same day the company released its earning figures.Arm said in its earnings report that the demand for AI technology had boosted its sales, which subsequently caused its shares to soar.The company, which is owned by Japan’s SoftBank, has had a solid introduction to the US stock…

Goldman Sachs shines a light on Europe’s market leaders, dubbed the ‘GRANOLAS’, echoing the ‘Magnificent Seven’ of Wall Street. With a combined market cap exceeding €2.6 trillion, these firms continue to dominate sectors and outperform in European markets. ADVERTISEMENTGoldman Sachs has put a spotlight on Europe’s stock market champions with a peculiar nickname: The GRANOLAS.The tag was inspired by the US market’s ‘Magnificent Seven’ – the tech behemoths leading Wall Street. It refers to a select group of European heavyweights, including GSK, Roche, ASML, Nestlé, Novartis, Novo Nordisk, L’Oréal, LVMH, AstraZeneca, SAP, and Sanofi.These firms, with a towering combined market…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. Even if the digital euro began as an exploration into solving financial system friction and not just a way to outmanoeuvre the expansion of EU stablecoins, it now can evolve into something far worse, Marc Taverner writes. ADVERTISEMENTThe unethical and unchecked use of artificial intelligence is the threat du jour, both for those working to preserve personal freedoms and companies seeking to secure their market competitiveness. But as we’re learning, artificial intelligence analysis needs data to be effective.At…