Author: Euronews

Norway’s controversial decision to approve commercial deep-sea mining in its waters has highlighted a left-right rift in the European Parliament. ADVERTISEMENTThe Nordic country – not among the EU’s 27 member states – became the first in the world to approve seabed exploitation on January 9, when its parliament voted in favour of allowing mining companies to scour 281,000 square km of its waters, an area almost the size of Italy.The move has been rebuked by scientists and conservationists, who warn of potentially irreversible damage to marine ecosystems.In a debate at the European Parliament in Strasbourg on Wednesday, EU lawmakers belonging to…

Anna Pruska spoke to Euronews Business about AI’s increasing role in telecommunication services and why Poland is the place to be for women leaders. ADVERTISEMENTPeople’s worry about the expansion of AI in business and wider society is understandable but not fully warranted, Polish IT giant Comarch’s CEO has said.“There’s always this anxiety in people when it comes to new technologies,” Anna Pruska told Euronews Business in a discussion about the breaking through of AI at the World Economic Forum (WEF) in Davos.“During the technical revolution, people used to destroy machines, […] because they were afraid that they would take jobs…

Twitchy bond markets and upcoming elections mean the clock is ticking for controversial new EU deficit laws. ADVERTISEMENTEU lawmakers and governments will engage in a furious few weeks of haggling over fiscal rules, after MEPs today (17 January) voted for budget deficit curbs that diverge from a deal struck by governments in December.Finance ministers meeting in the EU’s Council already spent months arguing over a new economic governance framework, and now they’re going to have to do it all over again with MEPs.Electoral cycles and financial market pressure mean they’re in a race against time.The tough fiscal rules that constrain…

Several high-profile French politicians allegedly plotted to avoid paying Qatar €88 million in tax over footballer Neymar Jr’s transfer to football club PSG in 2017, according to French sources. Authorities raided the Ministry of Economy and Finances’ headquarters earlier this week. ADVERTISEMENTAuthorities in France are investigating allegations that football club Paris Saint-Germain (PSG) received favourable tax treatment over Brazilian football star Neymar Jr’s 2017 transfer to the Qatar-owned club.Anti-corruption officers raided France’s finance ministry earlier this week, according to reports, over suspicions politicians helped PSG to avoid paying a 40% tax on his record €222 million transfer deal to PSG,…

Two years ago, Brussels unveiled ambitious legislation to improve the conditions of those who work for digital platforms such as Uber, Deliveroo and Glovo. Today, the law is scrambling to survive. ADVERTISEMENTThe Platform Workers Directive (PWD) was supposed to be a turning point in the so-called Gig Economy as millions of self-employed people who work through platforms across the bloc would be re-classified as employees and benefit from basic rights such as minimum salary, healthcare, accident insurance and paid leave.But after going through six rounds of negotiations between the European Parliament and member states, the directive was stopped dead in its…

Taoiseach Leo Varadkar spoke to Euronews’ Angela Barnes at the World Economic Forum in Davos in Switzerland about economic inequality in Ireland and how he plans to fix it. ADVERTISEMENTWidespread high-speed broadband, public transport and universities are the key to addressing the “very significant regional disparities” in the Irish economy, the country’s Taoiseach has said.Speaking to Euronews Business at the World Economic Forum (WEF) in Davos on Thursday, Leo Varadkar said that while Ireland has become a more equal country, more must be done to share the wealth creation that dominates major cities in Ireland, as in much of the…

In a scathing resolution, Members of the European Parliament threatened to launch legal action against the European Commission if the executive releases further frozen funds to Hungary. ADVERTISEMENTThe text, approved on Thursday afternoon with 345 votes in favour, 104 against and 29 abstentions, comes a month after the Commission unblocked €10.2 billion in cohesion funds for Hungary, allowing the country to request reimbursements of that sum.The funds were unfrozen after Budapest made judicial reforms in May to strengthen judicial independence and mitigate political interference in the courts, responding to the conditions – known as “super milestones” – that Brussels had imposed.The…

Euronews Business breaks down the latest data on the European car market, exploring the top countries, car manufacturers and brands. ADVERTISEMENTLast year saw a positive result for the EU car market, with a solid 13.9% expansion over 2022 and reaching a total volume of 10.5 million vehicles, according to the latest figures from the European Automobile Manufacturers’ Association (ACEA).Top markets included Italy (+18.9%), Spain (+16.7%), and France (+16.1%). In contrast, Germany, the largest market in Europe, saw a modest 7.3% rise year-on-year, influenced by its weaker performance in December.December marked the first month of contraction in the entire EU car market…

The European Parliament has for the first time called for a “permanent ceasefire” in Gaza and the start of political efforts to find a solution to the war between Israel and Hamas. ADVERTISEMENTThe resolution, which is purely symbolic and carries no legal weight, was approved with 312 votes in favour, 131 against and 72 abstentions in Strasbourg’s plenary chamber on Thursday after a compromise was made to appease centre-right lawmakers.The ceasefire plea represents a significant shift in the Parliament’s previous position, agreed in October, which called for a humanitarian “pause” to step up the flow of aid reaching Gaza’s civilians.…

Brighter days could lie ahead for the housing market following a rocky period caused by inflated mortgage costs. ADVERTISEMENTEstate agents expect home sales to recover in the coming year after a plummet in demand seen in 2023, according to data released on Thursday by the Royal Institution of Chartered Surveyors (Rics).Rics’ annual sales expectations jumped by 10% between November and December, coming in at 34%.Meanwhile, Rics’ measure of new buyer enquiries was -3% in December, a strong improvement from November’s figure of -13%.The indicator for agreed home sales also increased to -6% last month, the highest level seen since March…