Author: Euronews

EU officials have threatened fines on banks that don’t take climate change seriously. ADVERTISEMENTAnti-capitalist green protests met with an unlikely ally in Brussels today (1 February) – the head of the European Banking Authority.EU financial regulators may not always see eye to eye with activists at Extinction Rebellion – but there was some sympathy for two protestors who stormed a conference stage to protest large banks’ environmental record.“Barclays is the biggest investor in Europe in fossil fuels,” one of the protestors said to the panel which included Francesco Ceccato, Chief Executive Officer of Barclays Europe.“GDP growth is not compatible with…

The Bank of England has decided to hold interest rates at a 16-year high for the fourth consecutive month, following leads from the Fed and the ECB. ADVERTISEMENTThe Monetary Policy Committee (MPC) at the Bank of England (BOE) arrived at an unusual three-way split on Thursday, as members disagreed on the best path forward for interest rate cuts.Six members of the MPC voted to keep borrowing costs stable at 5.25%, two voted for an 0.25% rate raise, and one advocated for a 0.25% cut.”The three-way split on the MPC reflects the challenge of balancing still persistent inflationary pressures and the…

Commission chief Ursula von der Leyen met with farmers’ representatives at the end of the EU summit promising new upcoming initiatives in a bid to douse flames after a day of protests in Brussels. ADVERTISEMENTVon der Leyen was accompanied by Belgium’s Prime Minister Alexander De Croo, who initiated the encounter, and Dutch Premier Mark Rutte immediately after the closure of the European Council on Thursday (1 February).Speaking to reporters, De Croo pointed out that agriculture today faces a “lasagna” of issues ranging from the burden of the Green Deal implementation and over-regulation.“Farmers want to be a partner of the climate…

Energy prices dropped in January, helping keep inflation down in the bloc. ADVERTISEMENTEurozone investors are hoping for good news soon regarding interest rates amid signs that inflation seems to be slowing. This would mean some much-needed respite from soaring food and energy prices, which have been hitting the Eurozone since the start of the Russia-Ukraine war in February 2022.The January 2024 flash inflation estimate report showed annual consumer prices falling from 2.9% in December 2023 to 2.8%, in line with consensus estimates.Core inflation, which does not take energy and food prices into account, also slipped lower to 3.3%, down from…

The President of the European Parliament, Roberta Metsola, has said EU leaders are ‘on the alert’ after a Latvian Member of the European Parliament (MEP) was accused of spying for Russia. ADVERTISEMENTThe Parliament has opened a formal probe into Latvian lawmaker Tatjana Ždanoka, accused in an investigation by Russian newspaper The Insider of working as an agent for the Russian Federal Security Service (FSB) – the successor to the Soviet-era KGB – from 2004 to 2017.Speaking after a meeting of the bloc’s 27 leaders on Thursday, Metsola said the scandal “has also put us on the alert”. Latvia’s Prime Minister Evika…

Germany’s biggest bank wants to increase investor rewards despite falling profits, laying off staff to finance new plans. ADVERTISEMENTGermany’s biggest bank added detail to long-term redundancy plans on Thursday, as it prepares to lay off 3,500 employees by 2025.The move comes in response to floundering share prices and falling financial gains, with Deutsche Bank announcing a net profit of €1.26 billion in the final three months of 2023.This figure is down from the €1.8 billion recorded a year earlier, as the bank was weighed down by restructuring expenses, one-off costs, and a higher tax bill.Revenue, the income generated without accounting…

The President of the Catalan government Pere Aragonès on Wednesday pleaded on political parties to take “responsibility” and approve the amnesty law in an interview with Euronews. ADVERTISEMENTIt comes a day after the controversial amnesty bill was unexpectedly struck down by a small margin in Spain’s Congress.The law is part of a pact struck between Spain’s socialist party (PSOE) and Catalan separatists that allowed Pedro Sánchez to form a coalition government last November.”I appeal on all parties to take responsibility so that this amnesty law is not put at risk,” Aragonès told Euronews in Brussels, adding that he wants to see…

Europe’s two biggest economies seem to be winning the battle against the inflationary beast, but is it still too early for rate cuts? ADVERTISEMENTFrance and Germany have published their latest consumer price index (CPI) data and the results are promising.CPI is a measure of inflation which looks at how much money consumers are paying for particular goods and services over time.France was the first to share the news, with national statistics agency INSEE reporting a 0.2% drop in prices month-to-month, and a 3.1% annual rise in inflation for January.This is down from a 3.7% year-on-year jump seen in December, meaning…

The European Commission assured on Tuesday that talks on the EU-Mercosur trade agreement continue after a French official claimed President Emmanuel Macron had convinced the bloc’s executive to bury the deal. ADVERTISEMENT”The discussions continue, and the EU continues to pursue its goal of reaching an agreement that respects (…) sensitivities, particularly in the agricultural sector,” the EU executive’s lead spokesperson told reporters.The remarks aimed to dispel claims made by an Élysée official that Macron, a fierce opponent of the deal, had personally convinced Commission chief Ursula von der Leyen to order negotiators to halt talks.It came as farmers ordered a siege of Paris…

As we approach the Paris 2024 Olympic and Paralympic Games, we’re looking into whether the mega sporting events really do bring an economic boost to the host city and country, or whether it costs more than it’s worth. ADVERTISEMENTMany Parisians aren’t really happy about their city hosting this year’s summer Olympics.Despite President Emmanuel Macron’s desire to turn the event into a “popular celebration”, the minimum €2,700 tickets to attend the opening ceremony and the several hundred euro cost to go and see almost any of the events may for once give the French a good reason to complain.Nevertheless, many have…