Author: Euronews

British airline EasyJet is set to return to the UK’s famed FTSE index after a rocky pandemic period. ADVERTISEMENTFour years after EasyJet’s exit from the London Stock Exchange’s top 100 index, the airline is on track to make a return.This is according to indicative results released by index compiler FTSE Russell on Tuesday.EasyJet is set to take the place of Endeavour Mining Plc, a London-headquartered multinational operating gold mines in Côte d’Ivoire, Burkina Faso and Senegal.After suffering heavy losses linked to the Covid-induced freeze on travel, airlines have seen a recent rebound.This upturn has been fuelled by increased demand, higher…

A final report from the World Trade Organization (WTO) marked a significant win for the EU in its ongoing dispute with the US on Spanish black olives. ADVERTISEMENTThe latest development in the long-standing trade spat comes as a WTO compliance panel report made public on Tuesday (20 February) confirmed the EU’s justification for challenging US tariffs on Spanish black olives.The case dates back to 2017 when the US imposed tariffs on Spanish olives, citing harm caused to American producers due to EU subsidies directed at Spanish olive producers through the Common Agricultural Policy (CAP).Subsequently, the US Department of Commerce levied…

Increases in income tax, corporation tax and national insurance collections contributed to January’s total public sector receipts. ADVERTISEMENTThe UK’s public sector net borrowing, excluding public sector banks, hit a new record surplus in January 2024, the highest since monthly records started being maintained in 1993, according to the Office for National Statistics.Public sector net borrowing, not including public sector banks, saw a surplus of about £16.7 billion in January, which was more than twice January 2023’s surplus of £7.5 billion. However, it was still a just below analyst expectations of £18.7 billion.Total public sector receipts inched up by 3.4%, coming…

The European Union agreed on Wednesday to slap Russia with a new round of sanctions, which for the first time target companies in mainland China suspected of helping the Kremlin get hold of forbidden items. ADVERTISEMENTThe sanctions have a heavy focus on fighting circumvention and go after firms around the world accused of providing Russia with advanced technology and military goods manufactured in the EU.Companies from Turkey and North Korea have also been targeted.Nearly 200 people and entities have been added to the blacklist, which now covers more than 2,000 names, mostly from Russia.”We must keep degrading Putin’s war machine,” said…

The UK government has pointed the finger at iconic British businesses such as EasyJet, Greggs, Hamleys and Harrods who it says have failed to pay staff members the minimum wage. ADVERTISEMENTMore than 500 companies have been named by the UK government for failing to pay the minimum wage.”The 524 employers were found to have failed to pay their workers nearly £16 million [€18.7 million] in a clear breach of the National Minimum Wage (NMW) law, leaving over 172,000 workers out of pocket,” Kevin Hollinrake MP, Department for Business and Trade, said in a press release.The employers named include major high street…

Ursula von der Leyen is often hailed as the most transformational president of the European Commission since Jacques Delors. But could her legacy backfire as she seeks re-election? ADVERTISEMENTThe German politician is ready for another five years at the helm of the European Union’s most powerful institution, from which she has shaped the bloc’s policies in ways that would have been unimaginable when MEPs elected her in 2019 by a razor-thin margin.Her tenure kicked off amid a continent-wide movement of protests and strikes that thrust climate change to the very top of the agenda. It was therefore fitting that one…

Barclays stock gained nearly 5% on Tuesday morning as the bank unveiled to investors its cost-cutting and buyback plans. ADVERTISEMENTShares in Barclays climbed 4.77% on the London Stock Exchange in early trade after the bank reported its latest financial results – and announced an extensive structural overhaul.Total group income rose by 2% to £25.4 billion (€29.6 billion), although the fourth quarter contribution of £5.6 billion (€6.5 billion) was shy of the expected £5.8 billion (€6.7 billion). Net interest income (NII), meanwhile, jumped by 20% to £12.7 billion (€14.8 billion) year-over-year, with higher interest rates continuing to provide a tailwind.Pre-tax profit for…

Poland pitched on Tuesday a way out of Article 7, the European Union’s special procedure to correct rule-of-law violations. ADVERTISEMENTThe “action plan,” presented by Justice Minister Adam Bodnar during a meeting of European affairs ministers in Brussels, consists of nine bills aimed at restoring judicial independence from the country’s highest tribunal to the most ordinary courts.The overture is part of the diplomatic reset that Prime Minister Donald Tusk has spearheaded since taking office in December.”If Poland is out of this procedure, it means that we are stronger as a member state, that we might have more influence on how the European integration…

New electric passenger car sales jumped by almost 30% across Europe in the first month of 2024. ADVERTISEMENTNew electric cars’ sales rose dominantly among all the categories in January 2024 and provided 11.9% of all the passenger-car deliveries in Europe and the UK. New car registrations climbed by a total of 11.5% in the EU, EFTA and the UK markets after a 3.8% drop in December 2023. However, the entire European market, including the UK, saw a 29.3% jump in the sales of electric cars compared to January 2023, while the number of new plug-in hybrid cars grew by 24.4%, and hybrid electric…

The relatives of Israeli hostages held captive in Gaza by Hamas fear time is running out to ensure their release, after talks to broker a ceasefire and hostage deal stalled. ADVERTISEMENTSpeaking in Brussels on Tuesday, a delegation of Israeli hostages’ families pleaded with their own government, the European Union and the broader international community not to give up on their loved ones and to continue to wield their diplomatic influence to secure their liberation.It came a day after Israel said it would launch its ground offensive in Rafah unless Hamas released all remaining hostages by the start of Ramadan on…