Author: Euronews

Record-breaking antitrust fines were justified as the search engine promoted its own services, Advocate General Juilane Kokott said ADVERTISEMENTA record-breaking €2.4 billion fine imposed on Google for anti-competitive promotion of its shopping service should stand in the face of a challenge by the tech giant, an opinion produced for the EU’s top court has said.In 2017, the European Commission said the company had acted unlawfully by making its own price-comparison service, Google Shopping, unduly prominent in search results.Now Juliane Kokott, one of the advisory Advocates-General of the EU Court of Justice, appears to agree.Google “was leveraging its dominant position on…

The consumer group slammed Starbucks’ alleged failure to adopt “meaningful reforms” to its coffee and tea sourcing practices. ADVERTISEMENTA consumer advocacy group has filed a lawsuit against Starbucks, saying the company’s claim that its coffee is ethically sourced is false and misleading.In the lawsuit filed on Wednesday, the National Consumers League cited media reports of abuses on farms that supply coffee and tea to Starbucks. The group said the cases cast doubt on Starbucks’ packaging, which states that the company is “committed to 100% ethical coffee sourcing”.Starbucks said Wednesday it was aware of the lawsuit and will “aggressively defend against…

Euronews Business looks at the new data on how tourist online platforms are performing and identifies the top destinations to head to. ADVERTISEMENTAirbnb has been around for over a decade and a half. The online platform, which was launched to connect people interested in renting out their homes as holiday rentals with those seeking accommodation, is now valued at over $90 billion (€82 billion) as of 10 January.The company’s revenue primarily comes from fees paid by both guests and hosts, usually a percentage of the booking cost for each. The exact amount depends on the location and booking details.In an…

The Bugatti Chiron Super Sport 300+ could fetch as much as €5 million. ADVERTISEMENTThe 2022 Bugatti Chiron Super Sport 300+ is part of a limited-edition series of just 30 models. The highly sought-after hypercar is capable of hitting speeds of just over 490 kmh (304.773 mph). Putting this speed into context, the world’s largest passenger aircraft, the Airbus A 380, seating more than 850 people, takes off at around 300 kmh.The Franco-Italian luxury sports car manufacturer celebrated its 110th anniversary with a significant achievement in 2019: former Le Mans-winner Andy Wallace drove a new prototype to maximum acceleration at an unprecedented 304.777 mph. Following…

House prices and rents in the EU show significant trends that vary across the country, according to new official data. ADVERTISEMENTHouse prices and rents in Europe increased by 0.8% in the third quarter of 2023 compared to the second quarter of the same year, according to new data released by Eurostat. For rents, this reflects a 3.0% increase compared to the third quarter of 2022. However, for house prices, there has been a decrease of -1.0% during the same period.House prices more than doubled in some EU countriesFrom 2010 to the third quarter of 2023, there was a 48% increase in…

The European Commission announced on Tuesday that it would check whether Microsoft’s investment in OpenAI falls under the bloc’s merger laws. ADVERTISEMENTThe Big Tech giant has reportedly pledged to invest $13 billion (€11.8 billion) into the thriving start-up behind ChatGPT, the chatbot that has revolutionised the industry and unleashed a global furore over artificial intelligence (AI).But OpenAI’s pioneering product has also fuelled fears over the unchecked development of AI-powered systems and the lack of appropriate legislation to crack down on their most damaging side effects, such as impersonation, deep fakes, privacy violations, copyright infringement and the spread of propaganda and…

As we face an increasingly fractured and polarised world, this year’s World Economic Forum summit will look at ways of rebuilding and strengthening trust amongst global stakeholders. ADVERTISEMENTThe 54th World Economic Forum (WEF) is being held in Davos, Switzerland next week from 15-19 January. The summit will host governments from more than 100 countries, as well as all major international organisations. It will also have a varied mix of industry exports, news outlets, youth representatives, social entrepreneurs and civil society leaders.This year’s theme is Rebuilding Trust, which seems to be a continuation of 2022’s “Working Together, Restoring Trust” theme, back…

Brussels has sounded the alarm over celebrations planned in Bosnia and Herzegovina’s post-war Serb region, the Republika Srpska, to mark its breakaway anniversary. ADVERTISEMENTThe so-called ‘Republika Srpska Day’ celebrates the region’s 1992 claim of independence from Bosnia during the breakup of Yugoslavia, which led to a bloody interethnic war that claimed 100,000 lives.The commemoration, which coincides with a religious Orthodox holiday, has been deemed unconstitutional by Bosnia and Herzegovina’s Constitutional Court because it discriminates against non-Serbs.Tuesday’s events come amid increasing tensions as Republika Srpska’s President Milorad Dodik, widely seen as a Kremlin ally, ratchets up secessionist threats, prompting international concern. Dodik has vowed…

European luxury sector stocks had a negative start to the new year. Bank of America recently provided insights into the sector’s outlook for 2024. Analysts emphasise the significance of Chinese consumer behaviour but also raise concerns about challenges faced by ‘turnaround’ brands. ADVERTISEMENTThe start of 2024 has been challenging for the European luxury sector, with 18 out of 20 largest luxury stocks recording a year-to-date decline by 12 January 12. Notably, only Danish jewellery manufacturer Pandora A/S and footwear brand CCC S.A. have managed to maintain a positive trajectory in these early stages of the year.In the second semester of…

The European Union and the United States have denounced North Korea “in the strongest possible terms” for providing Russia with ballistic missiles and propping up the war of aggression against Ukraine. ADVERTISEMENT”The transfer of these weapons increases the suffering of the Ukrainian people, supports Russia’s war of aggression and undermines the global non-proliferation regime,” the two Western allies said in a statement released on Wednesday morning.The communiqué was co-signed by almost 50 nations, including Japan, South Korea, Argentina, Canada, Australia, New Zealand, Norway and the United Kingdom.The provisions of lethal equipment “flagrantly” violate multiple resolutions of the United Nations Security Council “that Russia…