Author: Euronews

Research shows the ratio of retirees to workers in the UK is becoming unsustainable as the population ages and birth rates fall. ADVERTISEMENTAnyone born after April 1970 in the UK may have to work until they are 71, according to a new report from the Longevity Centre.The current age threshold to draw a state pension is 66 years old, although it is projected to rise to 68 by 2044.Experts say a gradual hike is necessary to maintain the status quo of the constant number of workers per state pensioner.If the proportion of retirees to workers grows, there is likely to…

A secretly recorded conversation, to which Euronews has had access, shows a leading police investigator in the so-called Qatargate probe questioning the integrity of both the repentant and the judges. ADVERTISEMENTSuspect Francesco Giorgi – the partner of socialist MEP Eva Kaili, also under investigation in the sprawling graft probe – secretly recorded a conversation with senior Belgian policeman Ceferino Alvarez Rodriguez when he visited Giorgi’s apartment in May last year.In the recording, which Euronews has obtained, Alvarez Rodriguez accuses former MEP Pier Antonio Panzeri, the suspected ringleader who has struck a deal with Belgian authorities to reveal all about the…

A South Korean court has found Lee Jae-yong not guilty of accounting fraud and stock manipulation. ADVERTISEMENTSamsung chairman Lee Jae-yong has been acquitted in a case involving a controversial merger dating back almost 10 years.Lee merged two Samsung affiliates, Samsung C&T and Cheil Industries in 2015 but was accused of manipulating share prices to do so.The merger allowed the billionaire to solidify his control over the tech giant and supported his succession to become head of the company.Lee took over Samsung when his father, former chairman Lee Kun-hee, had a heart attack in 2014.Three years later, Lee was convicted of…

Two of the UK’s biggest banks, Santander UK and Lloyds, provided accounts to British companies with links to Iran’s intelligence services. ADVERTISEMENTIran evaded Western sanctions by using accounts at two UK banks to move money around the world in an extensive sanctions evasion scheme, according to the Financial Times.Lloyds Banking Group and Santander UK provided accounts to front companies that were secretly owned by a sanctioned and state-controlled Iranian petrochemicals company, the news outlet said, citing documents. The Petrochemical Commercial Company’s (PCC) British subsidiary (PCC UK) is still operating near Buckingham Palace. Both companies have been under US sanctions since 2018, meaning that…

Turkey’s inflation figures for January continued to climb as prices for housing and utility services rose further. ADVERTISEMENTThe Turkish economy continues struggling with sky-high inflation. The year-on-year headline inflation rate touched 64.86% in January, up from December’s 64.77% and more than analyst estimates of 64.52%. It was also the highest figure since November 2022.Month-on-month inflation came in at 6.7%, a large step up from December’s 2.93%, as well as slightly above market consensus of 6.49%.However, core inflation for the month of January, which excludes volatile food and energy prices, clocked in at 70.48%, down from 70.64% in December.Utility and housing…

The EU’s new directive aims to set an international level such as 60% of the gross median wage for the minimum wage. It also call for regular revisions to ensure pay levels remain up to date. ADVERTISEMENTA decent standard of living is crucial in a society. A key role for achieving this is to ensure statutory minimum wages are adequate. The proportion of workers earning just the minimum wage is higher than 10% in a number of countries across Europe. This year marks a significant step towards improving working and living conditions in the EU member states because the EU’s new…

Good looks can be their own kind of inherited asset, boosting income across the generations, a new study reveals. ADVERTISEMENTChildren of conventionally attractive parents earn more than those from more average-looking families, according to new research by the US-based National Bureau of Economic Research.The study, entitled: “The Economic Impact of Heritable Physical Traits: Hot Parents, Rich Kid?” examined prior datasets which tracked the attractiveness of parents and their children, as well as the children’s earnings. It looked at families in both the United States and China, as well as among billionaires worldwide.The attractiveness of parents and children was rated by…

Country of origin labelling for honey, fruit juices, and jams is the main outstanding issue to iron out in what is expected to be a quick deal on new EU marketing standards for foodstuffs commonly eaten at breakfast. ADVERTISEMENTThe first official round of talks between negotiators from the European Parliament and the EU Council to resolve differences over the revision of the so-called Breakfast Directives takes place this evening (30 January) amid expectations of swift success.After six preparatory meetings successfully conducted at a technical level, the signs suggest this first encounter will also be the last and that lawmakers will…

In this episode of Real Economy, Euronews Reporter Paul Hackett discovers how providing the homeless with housing as a starting point rather than an end goal, is transforming lives and fast becoming a long-term solution. According to national data, homelessness in Spain has increased by 25 per cent over the last decade. Such statistics have forced authorities and NGOs to come up with an alternative method for tackling homelessness.The solution proposed is surprisingly simple: give every person living on the street a home. First developed in the US, the initiative known as Housing First, is being adopted increasingly in Europe. Unlike traditional…

By Pascal Lamy, Andris Piebalgs, Heidemarie Wieczorek-Zeul, Neven Mimica, Charles Goerens The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. The money the EU invests in global challenges abroad is the tangible manifestation of our European values in action, reflecting the international commitments the union has made, Pascal Lamy, Andris Piebalgs, Heidemarie Wieczorek-Zeul, Neven Mimica and Charles Goerens write. ADVERTISEMENTIn too many places, in too many parts of the world, the prospect of the next generation having a better future than their parents did is being squeezed. Whether…