Author: Euronews

Households in England, Scotland, and Wales will pay 12% less for their energy bills from April, although costs remain historically high. ADVERTISEMENTThe British energy regulator Ofgem announced on Friday that it will drop the energy price cap in response to falling wholesale costs.From April to June, the maximum price suppliers will be able to charge customers will fall to its lowest level in two years.Compared to the same period in 2023, Ofgem is planning a cut of around 12%, which will bring an annual average household bill to £1,690.This is down from the current yearly total of £1,928, saving customers…

The European Commission is preparing to unblock up to €137 billion in cohesion and recovery funds for Poland, which until now has been unable to access the cash over rule-of-law concerns. ADVERTISEMENTThe announcement was made by President Ursula von der Leyen during a trip to Poland on Friday, where she spoke next to Prime Minister Donald Tusk.The breakthrough comes days after Polish officials travelled to Brussels to present an “action plan” of nine draft bills aimed at restoring judicial independence from the country’s highest tribunal to the lower courts. “We are impressed by your efforts and those of the Polish people…

This is the first time that Nvidia has labelled Huawei as one of its competitors. ADVERTISEMENTNvidia has identified Chinese tech company Huawei as one of its top competitors in various categories such as chip production, AI and cloud services.The tech giant said in a filing with the US Securities and Exchange Commission (SEC) on Wednesday that it expects “an increasingly competitive environment in the future” as rival companies ramp up CPU, GPU and AI production, among other technologies such as ethernet.”Some of our competitors may have greater marketing, financial, distribution and manufacturing resources than we do and may be more…

Farmers complain that the EU’s environmental policies, such as the Green Deal, and low-cost imports from third countries which they say don’t have to respect such high environmental standards. ADVERTISEMENTFarmers from 10 EU countries, ranging from Central Europe to the Baltics and the Balkans, were on Thursday participating in a protest against the bloc’s agriculture policies, bureaucracy and overall conditions for their business, organisers say.Many of the farmers from the Czech Republic, Germany, Poland and Slovakia, met at a number of border crossings.Farmers complain that the EU’s environmental policies, such as the Green Deal, which calls for limits on the use of…

The number of parents getting into debt to cover childcare costs in the UK has risen by a third over the past 12 months, according to a new survey. ADVERTISEMENTThere has been a sharp increase in childcare debts that parents are facing in the UK, according to research on behalf of campaign group Pregnant Then Screwed.In a survey of 35,800 parents in England with a child under the age of five, some 45.9% – almost half – revealed they had to get into debt or withdraw money from their savings to pay for childcare. That represented a 30% increase on 2023,…

The e-commerce giant will replace drugstore operator Walgreens Boots Alliance on the Dow, before the opening of trading on Monday. ADVERTISEMENTAmazon is joining the likes of Microsoft, Apple, Disney and other giants on the Dow Jones Industrial Average (DJIA), the stock market index of 30 prominent companies listed on stock exchanges in the United States.As one of the three most popular stock indexes in the US, Dow, which debuted in 1896, is known for providing a reliable reflection of how the most value-oriented, well-established and large-cap companies are performing, and whose prices tend to be less volatile.The e-commerce giant will…

The deal has finally been done some 15 months after the Glazer family announced a strategic review of the football club, which also included the possibility of selling it. ADVERTISEMENTPetrochemical billionaire Sir Jim Ratcliffe now owns a 27.7% minority stake in Manchester United, through his company Trawlers Limited. A lifelong United fan, Sir Jim is best known for being the head of the INEOS conglomerate.His initial offer was for a 25% stake in the club, which includes a 25% stake in Class A shares, as well as a 25% stake in Class B shares, at $33 (€30.5) per share for…

While low earners are certainly “far worse off” than those in the middle, evidence shows many households on median income “continue to face economic struggles”, according to a new report. ADVERTISEMENTUK citizens earning the average or close to the average wage are finding it hard to pay rent, afford food and purchase other essentials, according to a new report, as the country grapples with the cost of living crisis gripping Europe.A study published by the abrdn Financial Fairness Trust said that people near the middle of the UK’s income distribution (which can range between £29,000 and £65,000 – or €34,000…

The investigation by the UK’s Financial Conduct Authority is looking into now-banned car finance deals. ADVERTISEMENTUK bank Lloyds has reported pre-tax profits of £7.5 billion (€8.8 billion) for 2023, soaring by more than 50% from the year before.The bank said on Thursday that changes in interest rates, which the Bank of England has been using to tackle persistent inflation in the UK, were one of the main reasons for the increase in its income.”The Group delivered a robust financial performance, meeting our 2023 guidance, driven by income growth, cost discipline and strong asset quality,” Charlie Nunn, the Lloyds Group’s chief executive,…

Russian propagandists accused Ukrainian President Volodymyr Zelenskyy of attempting to assassinate the French president – but it turns out the video segment aired on France 24 is a deep fake generated by artificial intelligence. ADVERTISEMENTFrench President Emmanuel Macron had to postpone his visit to Ukraine last week, citing security reasons without giving more detail. Very quickly, rumours started to swirl on social media. According to a video segment allegedly aired on the international news channel France 24, the reason why Emmanuel Macron cancelled his trip is because Kyiv was preparing to assassinate the French leader.The video looks like it was show…