Author: Euronews

The quarterly financial reports from artificial intelligence heavyweights Microsoft, AMD and Google, released yesterday, delivered a mix of unexpected positive outcomes and disappointments. Source link

For the first time, the EU is using public hearings to decide where to locate an agency ADVERTISEMENTLawmakers today held landmark hearings to determine the site of the EU’s new anti-money laundering agency (AMLA) – probing issues from high politics to parking.There are nine candidates to host – and there are already signs of what lawmakers will take into account as they attempt to whittle that down to one, using an unprecedented decision-making process that sees MEPs given equal status with EU member states.Lawmakers Euronews talked to suggest connectivity and balance will play a key role in their decision, set…

A report marking the fourth anniversary of the UK leaving the European Union looks at which of the early Brexit predictions came true in the financial sector. ADVERTISEMENTFour years on from Brexit, the UK financial services sector has not been impacted as strongly as it might have been suggested previously. However, international trade relationships are yet to make up for the missing ones with the EU, according to a report by asset finance broker Anglo Scottish Finance.The UK left the European Union (EU) on 31 January 2020.One of the biggest fears was that the country’s financial sector, accounting for 12%…

Ukraine is staring down a massive hole in its state coffers, which only Western assistance can possibly plug. ADVERTISEMENTWith Russia continuing its all-out assault against the country, the government in Kyiv has devoted half of its 2024 expenses, worth €82 billion, to the defence sector. The wartime push, coupled with diminishing revenues from the battered economy, has left other budget priorities with little to no funding.That has made the country intrinsically dependent on financial assistance from foreign donors, chiefly the European Union, the United States and other G7 partners. Ukraine’s Finance Ministry estimates it will need $37.3 billion, or €34.45 billion, in external contributions…

Houthi attacks in the Red Sea have disturbed vital trade routes connecting Europe, the Middle East and Asia. Euronews Business spoke to Dr. Yousef M. Alshammari, Senior Research Fellow at Imperial College London, to explore the consequences for the European and global economy. ADVERTISEMENTThe Houthi, a rebel movement in Yemen, has been attacking merchant ships in the Red Sea for over two months now, impacting a crucial waterway that represents 12% of global trade traffic – and there’s concerns the growing tensions could impact the course of inflation as energy prices fluctuate.For the majority-Shiite Islamist group, the vow has been…

The European Union might soon add an additional €64.5 billion to its common budget. But it comes with fine print. ADVERTISEMENTThe top-up was for months the object of fierce bargaining among member states, each of whom, mindful of the upcoming elections to the European Parliament, pushed hard to see their wish list come true.The negotiations kicked off in June, soon after the European Commission unveiled its proposal, and culminated in an extraordinary summit on 1 February, where Viktor Orbán, under tremendous pressure from his fellow leaders, lifted his monthlong veto.”We had certainly some difficult choices to make, but we had a…

There is a large income inequality in Europe. Western and Nordic states have higher disposable income on average compared to many southern and eastern countries. ADVERTISEMENTTwo thirds of the world’s most properous countries in the world are in Europe, according to the 2023 Legatum Prosperity Index, yet income inequality is rife across the old continent. The average household income set aside for spending and saving varies considerably, not just between EU member states, but other European countries too.There appears to be a clear geographic divide: The highest levels of median disposable income were recorded in western and Nordic countries, while levels…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. The DSA’s first signs of impact are becoming visible, but what is stopping big tech from treating everyone who uses their services fairly and equitably, Claire Pershan, Odanga Madung and Kiito Shilongo write. ADVERTISEMENTEU policymakers often tout the Brussels effect — Europe’s regulatory influence and market power around the world — as a force to exert global change. But as its platform accountability rulebook, the Digital Services Act, comes into full force on 17 February, many effects seem unlikely to spill over…

It’s not acceptable for a CEO to simply say, ‘Well, I don’t do marketing,’ says Ed Fidoe. That’s why he is leading at a groundbreaking university aimed at cultivating well-rounded leaders. ADVERTISEMENTFidoe is one of the minds behind the UK’s first new university with degree-granting powers since the 1960s—the London Interdisciplinary School (LIS).He argues that specialising alone will fall short in a world grappling with intricate challenges like climate change and AI; instead, one must embrace interdisciplinary studies.My Wildest Prediction is a podcast series from Euronews Business where we dare to imagine the future with business and tech visionaries. In…

The European Commission proposed on Wednesday to extend free trade with Ukraine until June 2025, but with a new tweak to enable the type of national restrictions that Kyiv has complained about. ADVERTISEMENTThe U-turn means that if one or several member states face a glut of Ukrainian agricultural products, Brussels could give the green light to limit the sale and storage of these products inside the affected country. An all-out ban will also be possible, as the proposed law has been deliberately drafted in open-ended terms.The so-called “remedial measures” will have to be backed by economic evidence, which is prone…