Author: Euronews

Trade disruptions caused by instability in the Red Sea pose a risk for the EU’s economic outlook as well as the supply and price of energy, the bloc’s trade commissioner Valdis Dombrovskis warned on Tuesday. ADVERTISEMENT“We see already that there are disruptions to the shipping routes concerning the Red Sea and, correspondingly, the use of the Suez Canal,” Dombrovskis said.”Currently, we see that the effects of those disruptions are contained. Also their effects on, for example, oil and gas prices, are contained,” he added. “But certainly this is a risk for the European economy which we need to follow very…

People in the US stepped up their spending at retailers in December, closing out the holiday shopping season and the year on an upbeat tone and signalling that people remain confident enough to keep spending freely. ADVERTISEMENTRetail sales accelerated 0.6% in December from November’s 0.3% increase, the US Commerce Department reported earlier this week, highlighting the country’s economic momentum as it heads into the new year.As spending by consumers accounts for nearly 70% of the US economy (compared to just 50% of the EU and euro areas’), the report suggested that shoppers will be able to keep fueling economic growth…

Some social media users are claiming this is the latest shocking campaign to denigrate Palestinians. The Cube took a closer look at the viral video. ADVERTISEMENTIt’s an image that has shocked many social media users lately. The viral clip appears to show a wounded baby doll surrounded by toy soldiers with an Israeli flag in the background.The packaging says in Spanish the item “includes a Palestinian baby” and “elite soldiers” and appears to be sold by toy street vendors. Multiple social media users were quick to jump to the conclusion this toy was made by an Israeli company and sold in…

Rules agreed overnight will ban large cash transactions and apply to major football clubs ADVERTISEMENTEU lawmakers hope a new anti-laundering law agreed today (18 January) can start to repair a reputation tarnished by years of dirty-money scandals.As previously reported by Euronews, the law will ban cash transactions over €10,000 and extend to the football sector – but only large professional clubs will be caught.“It’s been decades that we’ve been dithering over the fight against money laundering and terrorist financing,” Damien Carême told reporters following the agreement, saying the new law would avoid loopholes that could be used by “oligarchs and…

Two ‘tribes’ of voters, one mostly worried about climate change and the other about immigration, could shape the outcome of June’s European elections, according to a new report. ADVERTISEMENTThe study published on Wednesday by the European Council on Foreign Relations (ECFR) predicts a clash in June’s vote between those most worried about the extinction of human life due to climate change, and those fearing the “disappearance of their nation and cultural identity” due to immigration.The findings are based on polling in eleven European countries – including nine EU nations representing 75% of the bloc’s population – which suggests Europe’s voters…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. By providing the right opportunities and training, current workers will benefit from new opportunities and younger generations will not only inherit a better climate but also the means to thrive, Ignacio Galán writes. ADVERTISEMENTThe transition to net zero is a revolution for the entire economy. Every sector will undergo change, but energy will see one of the greatest transformations — and the greatest opportunity. We are moving rapidly away from a dependence on polluting fossil fuels, towards clean forms of…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. Norway’s decision to open up the Arctic to mining may just be the spark that torches the industry’s entire future, Louisa Casson writes. ADVERTISEMENTIndustrialising the ocean floor in the middle of a climate crisis is not only reckless, it’s cruel. Last week, the Norwegian Parliament took it a step further and voted in favour of deep-sea mining in the Arctic. Again, a country that presents itself on the world stage as progressive and an environmental champion is serving dark…

High inflation and unemployment could leave the continent lagging behind other major economies in 2024, according to global accounting firm KPMG. ADVERTISEMENTGlobal growth could hit 2.2% this year but Europe could very likely see slower growth than that, according to an executive at Big Four accounting firm KPMG.”Inflation is still quite high and quite persistent. Unemployment is higher than it is in other parts of the world,” KPMG’s global head of clients and markets Regina Mayor told Euronews Business at the World Economic Forum (WEF) in Davos. “And we’re not seeing the bullish customer sentiment that’s driving more of the economic growth…

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…