Author: Euronews

Euronews Business breaks down the latest Eurostat data on agricultural price fluctuations country by country. ADVERTISEMENTPreliminary data on EU agricultural prices has indicated a halt in the rise in 2023, with an increase of 2%, slowing from a jump of 24% in 2022, according to Eurostat.Conversely, the average price of inputs, encompassing goods and services consumed in agriculture, saw a notable 5% decrease.The moderate overall rise in agricultural goods prices varies among specific products. Olive oil, potatoes (including seed potatoes), pigs, and eggs witnessed a significant price jump of 54%, 23%, 22%, and 20%, respectively.A severe drought in 2023 affected…

Banks and other rivals had complained the dominance of Apple Pay was anti-competitive. ADVERTISEMENTTech giant Apple has agreed to open up access to its iPhone’s payment functionality after EU antitrust officials warned of an unlawful restriction to competition.Apple Pay lets users buy goods by just tapping their iPhone, using a technology called near-field communication (NFC) – but banks and other potential rivals argued it’s unfair they’re forced to use software controlled by the tech giant.Under the deal brokered by the European Commission, Apple would let alternative providers access the NFC chip on the iPhone – and could face a mammoth…

In this edition, we look at the root causes of farmers’ fury in Germany and break down the recently agreed EU fiscal rules reform. ADVERTISEMENTWe are joined by German conservative MEP Lars Patrick Berg, the President of the Foundation for Progressive Studies Maria Joao Rodrigues and Fabian Zuleeg, Chief economist and director of the European Policy Centre.Panelists look at the root causes of the protests in Germany this week that saw thousands of farmers from North to South bring the country to a halt.  A three-day national rail strike also took place adding to travel disruption in Europe’s biggest economy and…

The gloomy picture is fuelling fears of a recession, with the December fall being the biggest one recorded since January 2021, a period that was heavily affected by pandemic-related restrictions. ADVERTISEMENTChristmas shoppers bucked the usual seasonal trend by spending less in December and leaving UK retail sales showing a fall of 3.2% on the previous month, according to the Office for National Statistics (ONS). November’s figures were boosted by increased sales due to Black Friday discounts, especially in the non-food store sales volumes, which showed a rise of 2.7% for the month, the UK’s statistics office explained. Sales in that category fell…

The European Union must stand “firm” with Taiwan to confront China’s “intimidating and coercive” behaviour, says Taipei’s envoy to the bloc. ADVERTISEMENT”In the next four years, it will be even more critical not only to enhance bilateral relations but also to tell Beijing that they need to respect the international order (and) respect the outcome of Taiwan’s democratic process,” Roy Lee told Euronews on Monday in reaction to the presidential and legislative elections held over the weekend in the self-ruling island.”Appeasement only encourages Beijing to escalate the situation.”The closely-watched poll resulted in Vice-President Lai Ching-te, from the centre-left Democratic Progressive…

A new report from the WEF claims that a conventional GDP growth picture is incomplete without a deeper understanding of the underlying nature and quality of growth. ADVERTISEMENTThe world’s economic slowdown is due to fall to its lowest rate in three decades by 2030, amid ongoing economic and geopolitical shocks, according to a new study.Interweaving global challenges, such as the climate crisis and a weakening social contract, will collectively worsen the impact of the economic slump, slowing down progress in global development, said the World Economic Forum (WEF) in a report published on Wednesday.But rather than measure growth in terms of…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. The upcoming European election is a pivotal test for established political forces, notably in France and Germany, as they navigate uncharted territory for the first time since WWII, Georgios Samaras writes. ADVERTISEMENTAs the June European election approaches, anxiety among the continent’s leaders is on the rise, and with good reason. In Germany, the AfD consistently polls above 20%, and Marine Le Pen’s National Rally in France continues to gain momentum — both a continuation of a trend seen in a…

In its latest forecast, the Bank of Italy estimates the country’s economy will slow down further in 2024, with inflation expected to see a rise. ADVERTISEMENTItaly’s financial matters are likely to remain one of the country’s most important issues this year, with its public finances still in a precarious condition. Italy needs more workers for various industries but a drive to increase workers from outside Italy is likely to be held back because of growing far-right influence. Slowing GDP growth rateIn its latest forecast, the Bank of Italy estimates gross domestic product (GDP) will slow down further in 2024, down to 0.6%…

Donald Trump’s potential re-election in 2024 could leave Europe “on its own”, Belgium’s Prime Minister Alexander De Croo warned on Tuesday. ADVERTISEMENTSpeaking at the first plenary session of the year in the European Parliament in Strasbourg, De Croo said Europe should “not fear” the prospect of a Trump comeback.”If 2024 brings us America First again, it will be more than ever Europe on its own,”  De Croo said.”We should, as Europeans, not fear that prospect,” he added. “We should embrace it by putting Europe on a more solid footing, stronger, more sovereign, more self-reliant.”His stark warning came hours after Trump’s…

At Davos, Spain’s Prime Minister Pedro Sánchez articulated his vision for a unified Europe, highlighting his country’s economic resilience and commitment to democracy and environmental sustainability. He also stressed support for Ukraine and advocated for a federal European Union. ADVERTISEMENTPedro Sánchez, Spain’s Prime Minister, recently delivered a pivotal speech at the Davos World Economic Forum, highlighting Spain’s commitment to a unified, resilient Europe, championing environmental and social well-being.Here’s a roundup of his most important economic points.Spain’s stance on global challengesSánchez began his address with a stark reminder: “The future stability of the world is being decided in Ukraine and Gaza…