Author: Euronews

Ursula von der Leyen announced on Tuesday the withdrawal of a contentious law that aimed to reduce the use of pesticides across the European Union, marking the first defeat of the Green Deal. ADVERTISEMENTThe so-called Sustainable Use Regulation (SUR) was first tabled in June 2022 with the ambitious goal of slashing the use of pesticides in half by 2030. It also envisioned the total prohibition of these products in sensitive areas, such as urban green spaces and Natura 2000 sites, and promoted the uptake of low-risk alternatives.SUR proved divisive from its inception and became the object of fierce lobbying from the agricultural sector.…

Euronews Business takes a closer look at how Microsoft, Apple, Alphabet, Amazon, Nvidia, Meta, and Tesla now account for nearly one-third of the S&P 500 Index, a concentration that sparks intense debate over the future of market equilibrium. ADVERTISEMENTThe formidable league of the United States’ most colossal technology entities, known as The Magnificent Seven, has reached a market capitalisation of $13 trillion (€12.04 trillion), a figure that strikingly matches the aggregate gross domestic products (GDPs) of Europe’s four largest economies: Germany, the United Kingdom, France, and Italy.Such a comparison not only highlights their financial clout but also raises the question…

Thinking about investing in the popular cryptocurrency? A recent report predicts that Bitcoin will reach a new all-time high in 2024. ADVERTISEMENTBitcoin (BTC) is expected to reach a new record at $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report.The cryptocurrency’s current price sits at around $43,000. UK fintech firm Finder carried out a study based on expert price predictions of 40 crypto industry specialists on how Bitcoin would perform through 2030.It found that Bitcoin will likely hit an average peak price of $87,875 in 2024, with some experts surveyed predicting…

Boeing in the ‘last chance saloon’ warns Emirates boss Sir Tim Clark, as the manufacturer’s crisis continues. ADVERTISEMENTEmirates is planning to send engineers to monitor Boeing’s production lines, Sir Tim Clark, the airline’s president has revealed.  The decision comes after a major incident on one of Boeing’s 737 MAX 9 planes last month, when a cabin panel blew out during an Alaska Airlines flight.He had seen a “progressive decline” in Boeing’s performance, the Emirates boss told the Financial Times.  “They have got to instil this safety culture which is second to none. They’ve got to get their manufacturing processes under…

Member states should temporarily halt exports of weapons to countries other than Ukraine, Josep Borrell said on Monday, asking governments to take a “political decision” and step up ammunition supplies. ADVERTISEMENT”Not only do we have to support Ukraine for as long as it takes but for whatever it takes. (It’s) not just a matter of time – it’s a matter of quantity and quality of our supplies,” the foreign policy chief said during an official visit to Warsaw.”And certainly we have to do more and quicker because Ukraine has to prevail.”The European Union approved in March last year a €2-billion plan to boost…

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…