Economy & Jobs

EU and Canada are the world’s new best friends

The EU-Canada summit focused on the free trade agreement (CETA), saving the WTO and doubling investments in research and development for the energy transition. However, the meeting was more symbolic, confirming that Canada, rather than the US, is now the EU's closest ally. EURACTIV Germany reports.

Commission fines Qualcomm €242 million over predatory pricing

EU antitrust authority fined €242 million Qualcomm due to the application of predatory prices, resulting in a breach of competition law, Commissioner Margrethe Vestager announced on Thursday (18 July).

Ukraine vows to enhance customs collaboration with EU to tackle smuggling

The Ukrainian government has adopted new legislation to strengthen customs cooperation with the European Union in order to better combat corruption and smuggling, including tobacco products, the Mission of Ukraine to the EU has told EURACTIV.

G7 says Facebook’s Libra poses ‘serious risks’

The G7 listed on Thursday (18 July) the requirements Facebook’s new ‘coin' Libra should meet, as regulators are increasingly wary of the “serious risks” posed by this digital currency.

Cables reveal how Britain tried to turn France against the euro in the 1990s

British diplomats tried to establish a "very private link" with former French president Jacques Chirac with the "unavowed aim" of exposing him to the risks of a European currency union, declassified documents revealed Thursday (17 July).

EU, Canada trade warm words at bilateral summit

Canadian Prime Minister Justin Trudeau launched the Canada-EU summit Wednesday (17 July) by praising the "progress" resulting from CETA, their free trade deal, while European Council president Donald Tusk called Ottawa the bloc's "closest transatlantic partner."

Commission opens investigation into Amazon’s handling of data

The European Commission decided on Wednesday (17 July) to launch an antitrust investigation into US online retailer Amazon over its use of merchants' data, in a case that could set a precedent.

No Deal Brexit fears prompt financial market angst

The increasing prospect of a No Deal Brexit is prompting new concerns that there are still ‘substantial’ regulatory gaps between the EU and UK in parts of the financial services sector.

Finnish presidency commits to linking rule of law with EU funding

Finnish Prime Minister Antti Rinne told the European Parliament on Wednesday (17 July) that his country’s presidency of the Council of the EU would continue negotiations on how to link more closely the disbursement of EU funds with respect for the rule of law in member states.

Le Maire: ‘Capitalism is in a dead end, must reinvent itself’

French finance minister Bruno Le Maire is determined to chair an “efficient” meeting with his colleagues of the G7 countries on Wednesday and Thursday. His goal is no less than to refound capitalism. As a first step, he wants to reach an agreement on the main features of digital tax, to pave the way for an international compromise by early next year.

In systemic breach, hackers steal millions of Bulgarians’ financial data

Bulgaria’s finance minister apologized to the country on Tuesday (16 July) after admitting hackers had stolen millions of taxpayers’ financial data in an attack that one researcher said may have compromised nearly every adult’s personal records.

EU farm chief struggles to dispel concerns over Mercosur trade deal

The EU's Agriculture Commissioner, Phil Hogan, sought to address national concerns over the proposed EU-Mercosur trade deal during a meeting with the bloc's 28 farm ministers on Monday (15 July).

EU agriculture chief slams ‘misinformation’ on Mercosur trade deal

There's a lot of misinformation and misplaced facts which have distorted the debate about the recently concluded Mercosur trade deal, EU Agriculture Commissioner Phil Hogan has said.

OECD calls on members to speed up reforms, focus on innovation

In its annual growth report, the OECD painted a gloomy picture: rising inequalities, slowing growth and strong headwinds for the global market economy, notably because of trade wars. EURACTIV Germany summarised the OECD's recommendations for Europe.

German ambassador to the EU: ‘China is changing us’

Europe should increase its economic assertiveness abroad and put forward a new strategy to face China’s rivalry, as the challenges posed by Beijing are already affecting the way European countries are preparing to compete with global powers, experts and diplomats agreed on Thursday (12 July).

Irish parliament calls on government to thwart EU-Mercosur deal

Ireland's parliament voted on Thursday (11 July) to press the government to lead opposition inside the European Union to a draft trade deal that Brussels has struck with the Mercosur bloc of South American countries.

Job cuts at Deutsche Bank are just the tip of the iceberg

Deutsche Bank will withdraw from its global equity business and cut 18,000 jobs over the next three years. This is part of a bigger trend: investment banks are looking more towards the US, which can sometimes be problematic for Europe. EURACTIV Germany reports.

Airbnb bows to EU demands on room fees

Airbnb has bowed to EU pressure and will avoid potentially multi-million euro fines after making changes to the way it advertises the fees for its popular room-booking service.

Increasing solidarity between women – a tool against insecurity in Europe

Many women in Europe still live in precarious conditions. To deal with this, solidarity between women is an essential tool, according to participants of the conference "Elles font bouger l'Europe" (Women make Europe move). EURACTIV France reports.