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☆ Russia's hunted A-50 command planes are its eyes over Ukraine. Here's how it compares to the Boeing E-3 Sentry.
▼ + stars: | 2024-04-17 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +13 min

Ukraine's most significant aircraft kills in 2024 are two Russian A-50 command planes. AP PhotoThe MainstayAEW&C aircraft are aerial radar stations meant to detect and track enemy weapon systems — namely aircraft, missiles, and naval ships. An E-3 Sentry takes off at Nellis Air Force Base in Nevada in January 2024. Last November, the Russians threatened to destroy a French Air Force E-3 that was operating over the Black Sea in what a French military spokesman described as "a particularly aggressive radio exchange." AdvertisementLast year, the US Air Force announced that it had selected the Boeing E-7 Wedgetail as the E-3's intended replacement.

Persons: —, Tupolev, William R, Park Chung, hee, Anwar Sadat, Joseph Barron, hasn't, Benjamin Brimelow Organizations: Service, Russian Aerospace Forces, Soviet Union, Machulishchy, State TV, Radio Company, AP, Western Allies, Beriev, Ilyushin, NATO, Nellis Air Force Base, US Air Force, System, Boeing, Air, Air Force, North American Aerospace Defense Command, NORAD, Saudi, Royal Air Force, Control Force, NATO Air Base, U.S . Air Force KC, US Air Force Ukraine, Ukrainian Air Force, Allied, French Air Force, Global Affairs, Fletcher School of Law, Diplomacy, Business, Modern, Institute Locations: Russian, Ukraine, Soviet, Minsk, Belarus, Ukrainian, USSR, China, India, Turkey, Chechnya, Georgia, Syria, Syrian, Nevada, American, Latin America, South Korea, Egypt, Saudi Arabia, Iran, Iraq, France, Chile, NATO, Germany, Europe, Azov, Russia, Poland, Romania, Australia, West

☆ Olivia Rodrigo's team won't allow free contraceptives to be handed out on tour anymore, says report
▼ + stars: | 2024-03-16 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +4 min

Read previewThe remainder of Olivia Rodrigo's Guts tour will no longer feature reproductive rights groups handing out free emergency contraceptives, lube, and condoms following the widespread media attention brought on by her recent Missouri show, according to reports. Multiple representatives of other rights groups also confirmed the news to Jezebel. Kevin Mazur/Getty ImagesRobin Frisella, Missouri Abortion Fund's Community Engagement Director, told the publication: "While we are disappointed to learn that other abortion funds will not get the same opportunity to do the same, we are encouraged by the overwhelmingly positive response." Advertisement"We can't speak to why this decision was made, but we hope this conversation highlights the work being done by abortion funds every day in states across the country. A portion of Rodrigo's tour ticket sales will go to abortion funds across the US through the singer's Fund 4 Good initiative, which she launched in collaboration with the tour and advocates for reproductive healthcare freedom.

Persons: —, Olivia Rodrigo's Guts, Louis, Jade Hurley, Rodrigo, Spaeth, Stone, Olivia Rodrigo, Kevin Mazur, Robin Frisella, Bill Eigel, Eigel —, Lily Allen's, Roe, Wade Organizations: Service, National Network of Abortion, Business, Missouri Abortion, DC Abortion, Abortion, Missouri Abortion Fund, Arena, singer's Locations: Missouri, Minnesota, Palm Springs , California, Robin Frisella , Missouri, Glastonbury, England

☆ It’s Alive! EC Comics Returns
▼ + stars: | 2024-02-19 | by ( George Gene Gustines | More About George Gene Gustines | ) www.nytimes.com time to read: +1 min

EC Comics, which specialized in tales of horror, crime and suspense, and was shut down in the “moral panic” of the 1950s, is making a comeback. Oni Press will publish two new anthology series under the EC Comics banner. The first, Epitaphs From the Abyss, coming in July, will be horror focused; Cruel Universe, the second, arrives in August and will tell science fiction stories. Hunter Gorinson, the president and publisher of Oni Press, said the new stories will interpret the world of today, much as EC Comics explored the American psyche of the 1950s. Gary Groth, the editor of The Comics Journal, told The New York Times in 2013 that EC Comics was “arguably the best commercial comics company in the history of the medium.”

Persons: Hunter Gorinson, —, Oni, William M, Gaines, Gary Groth, “ Organizations: EC Comics, Press, Oni Press, The Comics, New York Times, EC

☆ Nigeria's Access Bank Group CEO Among Six Dead in California Helicopter Crash
▼ + stars: | 2024-02-10 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Six people, including the group chief executive of one of Nigeria's largest lenders, were killed in a helicopter crash in Southern California on Friday, authorities said. Six people were on board the helicopter when it crashed around 10 p.m. near Nipton, California, the U.S. Federal Aviation Administration said in a statement. Access Bank Group CEO Herbert Wigwe's death was confirmed by Ngozi Okonjo-Iweala, director general of the World Trade Organization, in a post on X, along with that of Nigerian Exchange Group's former Chairman Abimbola Ogunbanjo. "Terribly saddened by the news of the terrible loss of Herbert Wigwe, Group CEO Access Bank, his wife and son as well as Bimbo Ogunbanjo in a helicopter crash," Okonjo-Iweala said on X. The helicopter was headed to Las Vegas when it crashed near a border city between Nevada and California, according to multiple reports.

Persons: Herbert Wigwe's, Ngozi Okonjo, Abimbola Ogunbanjo, Herbert Wigwe, Bimbo Ogunbanjo, Iweala, Surbhi Misra, Jyoti Narayan, Andrea Ricci Organizations: Reuters, U.S . Federal Aviation Administration, Access Bank, World Trade Organization, Exchange, San Bernardino County Sheriff’s Department, FAA, Eurocopter EC, National Transportation Safety Board Locations: Southern California, Nipton , California, San Bernardino County, Halloran, Las Vegas, Nevada, California, Bengaluru

☆ iRobot shares tank 30% on report EU plans to block Amazon acquisition
▼ + stars: | 2024-01-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

Shares of iRobot plunged more than 33% in extended trading on Thursday after a report said the EU's antitrust watchdog intends to block Amazon 's planned acquisition of the Roomba vacuum maker. A representative from the European Commission didn't immediately respond to a request for comment. The European Commission, the European Union's top antitrust enforcer, opened an in-depth probe into the purchase last July. The group warned the planned acquisition raises competition concerns, saying it found Amazon may hinder iRobot's rivals from competing on its online marketplace. Earlier this month, Politico reported Amazon doesn't plan to offer concessions to resolve the group's concerns about the acquisition.

Persons: vacuums, iRobot Organizations: Street Journal, European, Amazon, European Commission, Politico, U.S . Federal Trade Commission, Markets Authority Locations: San Rafael , California

A truck lines up to be loaded with soybeans in a farm in the city of Primavera do Leste in the central Brazilian state of Mato Grosso January 29, 2013. The crop-heavy northern section of Brazil’s top soy and corn state Mato Grosso experienced the driest October-November period in at least a quarter century. October-November precipitation in North Mato Grosso BrazilMato Grosso grows about 27% of Brazil’s soybeans and accounts for almost 30% of the country’s soybean export program, the world’s largest. The delay in the 2020-21 soybean crop reduced Mato Grosso’s second corn yields since it pushed the sensitive development period back into a historically drier time frame. Mato Grosso accounts for two-thirds of all Brazilian corn shipments.

Persons: Mato, Brazil Mato, Karen Braun Organizations: Mato Grosso, Brazil’s, European, Reuters, Thomson Locations: Primavera, Mato, NAPERVILLE , Illinois, Mato Grosso, Brazil

☆ Google CEO Sundar Pichai compares AI to climate change at APEC CEO Summit
▼ + stars: | 2023-11-16 | by ( Jennifer Elias | ) www.cnbc.com time to read: +1 min

Google CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California. Google CEO Sundar Pichai said artificial intelligence is like climate change in that it will proliferate worldwide, and that people across the globe share a responsibility to create guardrails. At the Asia-Pacific Economic Cooperation (APEC) CEO summit in San Francisco on Thursday, Pichai was asked by Bloomberg's Emily Chang how to get to a global consensus on "smart AI regulation." I think that's true for AI." Pichai said countries have a shared responsibility to build global frameworks — something he's warned about in recent months.

Persons: Sundar Pichai, Pichai, Emily Chang, Joe Biden, Xi Jinping Organizations: Americas, U.S . Chamber, Commerce, Google, Economic Cooperation Locations: Los Angeles , California, Asia, San Francisco, Japan

China's delegate to the meeting, Vice Minister of Science and Technology Wu Zhaohui, was present on Thursday, his ministry said on Friday. The Chinese technology ministry declined to say why China did not agree to the proposal, which was about AI model testing. British Prime Minister Rishi Sunak chaired Thursday's meeting that comprised "a small group of like-minded senior representatives from governments around the world", Britain said, including the U.S. vice president and the EC president. Some British lawmakers had criticised China's participation in the inaugural AI summit. Sunak told reporters: "Some said we shouldn't even invite China, others said we would never get an agreement with them.

Persons: Ursula von der Leyen, Kamala Harris, Rishi Sunak, Giorgia Meloni, Antonio Guterres, Yoshua Bengio, Mila, Microsoft Brad, Technology Wu Zhaohui, Wu, Oliver Dowden, Sunak, Paul Sandle, Brenda Goh, Alistair Smout, Cynthia Osterman Organizations: Italy's, UN, Quebec AI Institute, Microsoft, Safety, Science, Technology, Bloomberg, U.S, European Union, Thomson Locations: British, SHANGHAI, LONDON, China, Britain, Beijing, Bletchley Park, England, United States, Bletchley, London, Shanghai

☆ After watching Russia's and Ukraine's electronic warriors battle it out, the US military wants to 'dial up' up its own 'jamming power'
▼ + stars: | 2023-10-30 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

That's why the US Air Force is eager to deploy a new generation of electronic-warfare aircraft and drones. In September, the Air Force received its first test EC-37B Compass Call. AdvertisementAdvertisementMilitaries have been investing in the secretive world of electronic warfare since World War II. Naturally, the Air Force wants to extensively test the E-37B before deploying it. A US Air Force EC-130H at Davis-Monthan Air Force Base in August 2021.

Persons: —, Mark Kelly, Denis Abramov, James Rainey, Doug Bush, Bush, Felicia Jagdatt, Kelly, Alex Miller, Michael Peck Organizations: Service, US Air Force, Air Force, Gulfstream G550, Air Combat Command, Air and Space Forces Association, Russian Defense Ministry, Mil.ru, US Army Futures Command, Association of, United, Army, US Army, Air and Space Forces, US Air Force EC, Davis, Monthan Air Force Base, Air, Defense, Foreign Policy, Twitter, LinkedIn Locations: Ukraine, Vietnam, Russian, Mil.ru Ukraine, Russia, United States, Bliss, Texas, Forbes

☆ Opinion | Teaching Practical Skills Like Home Ec and Shop in School
▼ + stars: | 2023-10-25 | by ( ) www.nytimes.com time to read: +4 min

Children need to do more physical and practical work at school, and schools need to integrate more movement into students’ routines. Attending Back to School Night at my son’s middle school, I was saddened to see that instruction is done mostly via large screens and that the students have no recess. My grandchildren would love the opportunity to experience the life skills that I was lucky enough to enjoy. And of course she taught sewing and cooking. Today’s students could surely benefit by learning practical life skills like home ec and shop.

Persons: Pamela Paul, Paul, I’ve, Joshi, Pamela Paul’s, Cindy Jenkins Plymouth, Roger Ramsey Buxton, “, Robin Weintraub Rochester Organizations: U.C.L.A Locations: Md, Roger Ramsey Buxton , Maine, Los Angeles, N.Y

☆ Euro zone consumer confidence falls to -17.9 in October
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: 1 min

A customer shops at a Carrefour supermarket in Montesson near Paris, France, September 13, 2023. REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsOct 23 (Reuters) - Euro zone consumer confidence fell by 0.1 points in October from the September number, figures released on Monday showed. The European Commission said a flash estimate showed euro zone consumer morale decreased to -17.9 this month from -17.8 in September. In the European Union as a whole, consumer sentiment remained unchanged at -18.7. For European Commission data click on: https://ec.europa.eu/info/business-economy-euro/indicators-statistics/economic-databases/business-and-consumer-surveys/latest-business-and-consumer-surveys_en#recent-press-releasesReporting by Anastasiia Kozlova in GdanskOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Meyssonnier, Anastasiia Kozlova Organizations: Carrefour, REUTERS, European Commission, Reuters, Union, Thomson Locations: Montesson, Paris, France, Gdansk

☆ An opulent ancient Egyptian tomb containing 5,000-year-old wine may have belonged to a long-forgotten female pharaoh
▼ + stars: | 2023-10-20 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +3 min

A female royal from the first ancient Egyptian dynasty was found buried in a lavish tomb. Researchers think she may have been the first female pharaoh of ancient Egypt. Now researchers excavating her grave in Abydos, Egypt, say that the sheer extravagance they have discovered suggests she may have been the first female pharaoh in ancient Egypt. AdvertisementAdvertisementIf proven to be right, Meret-Neith would then become the first female Pharaoh of Egypt, rewriting the ancient Egyptian dynasty. The next known female pharaoh was Neferusobek and then Hatshepsut, who ruled about 500 years after Neferusobek.

Persons: —, King Djet, Ronald Leprohon, Neith, EC, Christiana Köhler, Margaret Maitland, Elizabeth Carney, Pharaoh of Egypt, Hatshepsut Organizations: Service, University of Vienna, University of Toronto, National Museums Scotland, Science, Clemson University Locations: Egypt, Abydos, Meret, South Carolina

☆ Euro industrial output up in August, but sharply down year-on-year
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Phil Noble/File photo Acquire Licensing RightsBRUSSELS, Oct 13 (Reuters) - Euro zone industrial production rose by more than expected in August, data showed on Friday, as factories made more consumer goods although overall output was down by more than 5% from a year earlier. The European Union's statistics office Eurostat said industrial production in the 20 countries sharing the euro rose by 0.6% month-on-month in August for a 5.1% year-on-year decline. Output of non-durable consumer goods, such as food or clothing, rose by 0.5% for a second consecutive month. Compared with a year earlier, all types of production were some 5-7% lower, except for non-durable consumer goods, whose decline was 1.4%. The IMF cut its estimates for euro zone growth earlier this week to 0.7% in 2023 and 1.2% in 2024, from July forecasts of 0.9% and 1.5%.

Persons: Phil Noble, Philip Blenkinsop Organizations: REUTERS, Rights, Reuters, IMF, Eurostat, Thomson Locations: Chesterfield, Britain, Rights BRUSSELS

☆ Europe is investigating Elon Musk's X about Israel-Hamas misinformation, violence on the app
▼ + stars: | 2023-10-12 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

Thierry Breton, the European commissioner for the internal market, said on X that the European Union's executive arm, the European Commission, is investigating whether X is complying with the Digital Services Act. The act went into effect in late August, requiring platforms that have over 45 million monthly active users in the EU to scan for and remove illegal content from their services and to detail their methodologies. Breton sent a letter to X owner Elon Musk expressing concern about the spread of disinformation and "violent and terrorist" content on the service and urging Musk to respond within 24 hours time. "We continue to respond promptly to law enforcement requests from around the world, including EU member states," X said in the letter. "At the time of receipt of your letter, we had not received any notices from Europol relating to illegal content on the service."

Persons: Elon Musk, Recep Tayyip Erdogan, Fatih Aktas, Thierry Breton, Breton, Musk, Mark Zuckerberg, Linda Yaccarino, X Organizations: Turkish, United Nations, UN, Anadolu Agency, Getty, European, European Commission, Digital Services, DSA, EC Locations: New York, United States, European, Israel

☆ Germany's Baerbock joins chorus criticizing EU migration deal with Tunisia
▼ + stars: | 2023-09-22 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +5 min

[1/2] Migrants rescued at sea walk after disembarking from a vessel, on the Sicilian island of Lampedusa, Italy, September 18, 2023. "Democracy, human rights and the rule of law must guide us in our cooperation - something that was not given suitable consideration, in the agreement with Tunisia," she wrote. "The MoU (memorandum of understanding) with Tunisia cannot become a template for further agreements," she added. 'SERIOUS HUMAN RIGHTS VIOLATIONS AND ABUSES'Asked to comment on the letters, a European Commission spokeswoman said the EU executive consulted member states enough. On Friday, the EC announced 60 million euros ($64 million) in support for the Tunisian budget and a further 67 million euros ($71 million) in assistance on migration.

Persons: Yara, Annalena Baerbock, Kais, Giorgia Meloni, Baerbock, Josep Borrell, Borrell, Oliver Varhelyi, Viktor Orban, Meloni, Gabriela Baczynska, Howard Goller Organizations: Migrants, REUTERS, UNITED, EU, Commission, Reuters, European Commission, EC, Human Rights, Thomson Locations: Lampedusa, Italy, Germany, EU, Tunisia, Netherlands, Tunis, Africa, Egypt, Hungary, East, Geneva, Ukraine

☆ Germany's Baerbock Joins Chorus Criticizing EU Migration Deal With Tunisia
▼ + stars: | 2023-09-22 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +4 min

By Gabriela BaczynskaUNITED NATIONS (Reuters) - German Foreign Minister Annalena Baerbock joined a growing chorus of critics of the European Union's new migration deal with Tunisia, saying human rights and procedural faults ruled it out as a blueprint for the future. Her letter to the EU executive European Commission highlights the EU's inner conflict between those pursuing ever-tougher policies to stop illegal immigration and others who emphasize humanitarian considerations and labor market gaps. But in her letter dated Aug. 2, Baerbock expressed "incomprehension" at what she said were insufficient consultations with other countries in the 27-nation bloc. 'SERIOUS VIOLATIONS AND ABUSES'Asked to comment on the letters, a European Commission spokeswoman said the EU executive consulted member states enough. On Friday, the EC announced 60 million euros ($64 million) in support for the Tunisian budget and a further 67 million euros ($71 million) in assistance on migration.

Persons: Gabriela Baczynska, Annalena Baerbock, Kais, Giorgia Meloni, Baerbock, Josep Borrell, Borrell, Oliver Varhelyi, Viktor Orban, Meloni, Howard Goller Organizations: Gabriela Baczynska UNITED NATIONS, Reuters, EU, Commission, European Commission, EC, Human Rights Locations: Tunisia, Italy, Netherlands, EU, Tunis, Africa, Egypt, Hungary, East, Geneva, Ukraine

☆ This Dutchman moved to San Francisco a year ago to help tech giants prepare for new EU rules
▼ + stars: | 2023-08-25 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +10 min

De Graaf, a 30-year veteran of the European Commission, was tasked with resurrecting the EU office in the Bay Area. The generative AI boomGenerative AI was a virtually foreign concept when de Graaf arrived in San Francisco last September. In June, the European Parliament cleared a major step in passing the EU AI Act, which would represent the EU's package of AI regulations. Tech companies that have for years criticized the EU for overly aggressive regulations are now asking, "Why is it taking you so long?" The rapidly changing landscape of generative AI makes it tricky for the EU to quickly formulate regulations.

Persons: Yves Herman, Gerard de Graaf, De Graaf, de Graaf, Union hasn't, Mark Zuckerberg, Mandel Ngan, Thierry Breton, Elon Musk, Breton, we've, We've, who's, they've, Aneesh Chopra Organizations: EU, European Commission, Digital Services, Nasdaq, Meta, Google, Apple, DSA, EC, Valley Bank, Irish Consulate, The, Union, U.S, Facebook, Financial, Financial Services, AFP, Getty, Twitter, Digital Markets, Washington , D.C, European, Tech, Stanford, Nvidia, White Locations: Brussels, Belgium, Europe, San Francisco, Bay, U.S, Silicon Valley, Silicon, Rayburn, Washington , DC, Poland, Graaf, Washington ,, United States

☆ Euro zone pulls out of dip with higher growth than expected
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, July 31 (Reuters) - The euro zone returned to growth in the second quarter of 2023, with a greater than expected expansion after narrowly avoiding a technical recession around the turn of the year, preliminary data showed on Monday. Gross domestic product in the euro zone expanded by 0.3% in the second quarter, above expectations of 0.2% in a Reuters poll of economists. Compared to a year earlier, growth was 0.6% against expectations of 0.5%. That compared with zero growth in the previous quarter for the 20-nation euro zone and a 0.1% quarter-on-quarter decline in the fourth quarter of 2022. But even if the bloc is doing better than expected, growth in 2023 is likely to be weak due to a large drop in real incomes and surging interest rates.

Persons: Philip Blenkinsop, Charlotte Van Campenhout Organizations: Gross, European Central Bank, Thomson Locations: BRUSSELS, France, Spain, Germany, Italy, Ukraine

Commodity markets closely follow the American (GFS) and the European (EC) weather models, and it is important to understand their variations, especially at this time of year. The four-times-daily GFS forecasts out 15 days while the twice-per-day EC evaluates a 10-day period. Both models’ precipitation output has deviated significantly enough from the actuals to warrant higher levels of uncertainty in precipitation forecasts versus temperature ones. Both the GFS and EC precipitation output for the first half of July was overly optimistic on precipitation, which has generally been the case for the past six months. Despite the GFS’s recent temperature reliability, it has more often leaned too cool versus too warm in the last couple of months.

Persons: Tuesday’s GFS, Karen Braun, Matthew Lewis Organizations: European, Midwest, EC, Crop Watch, Reuters, Thomson Locations: NAPERVILLE , Illinois, Midwest, U.S

☆ Russian, Belarusian gymnasts allowed to compete as neutrals from January, says FIG
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

July 19 (Reuters) - Russian and Belarusian gymnasts will be allowed to compete as "individual neutral athletes" at events organised by the governing body from next January, the International Gymnastics Federation (FIG) said on Wednesday. The FIG Executive Committee (EC) decided that Russian and Belarusian gymnasts may compete as long as they are not associated with their countries' gymnastics federations, their national federations and Olympic committees. "Any athlete wishing to obtain the status of 'individual neutral athlete' will have to apply to the FIG in accordance with the ad-hoc rules," FIG said in a statement. "Athletes who are granted this status will be eligible to participate in FIG sanctioned events from 1 January 2024." FIG President Morinari Watanabe added: "By accepting Russian and Belarusian gymnasts to participate in competitions as independent neutral athletes, the FIG is ensuring that the rights of all athletes are respected and is sending a message to the world that gymnastics is seeking peace."

Persons: Morinari Watanabe, Janina Nuno Rios, Pritha Sarkar Organizations: International Gymnastics Federation, FIG, Games, International Olympic Committee, IOC, Thomson Locations: Belarusian, Ukraine, Belarus, Moscow, Paris, Russia, Mexico City

☆ Euro zone almost eliminates trade deficit in May
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, July 14 (Reuters) - The euro zone almost eliminated its trade deficit in May, non-adjusted data showed on Friday, as exports of chemicals and machinery picked up and the value of imported energy products, notably from Russia, declined. The European Union statistics office Eurostat said the seasonally unadjusted trade balance of the 20 countries sharing the euro was a 0.3 billion euro deficit in May compared with a 30.3 billion euro shortfall a year earlier. Adjusted for seasonal swings, the May trade deficit was a modest 0.9 billion euros from 8.0 billion euros in April. The EU's trade gap with China also narrowed slightly in Jan-May, while its trade surplus with the United States dipped. However, the EU trade surplus with Britain expanded as EU exports rose and imports from Britain fell.

Persons: Eurostat, Philip Blenkinsop, Charlotte Van Campenhout, Andrew Heavens Organizations: European Union, Union, Britain, Eurostat, Thomson Locations: BRUSSELS, Russia, Jan, China, United States, Britain

☆ Illumina hit with record $476 million EU antitrust fine over Grail deal
▼ + stars: | 2023-07-12 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

SummaryCompanies Fine corresponds to 10% of Illumina global turnoverGrail given symbolic 1,000-euro fine for active roleIllumina says fine disproportionate, will appealBRUSSELS, July 12 (Reuters) - U.S. genetic testing company Illumina (ILMN.O) was fined a record 432-million-euro ($476 million) by the EU on Wednesday for closing its takeover of cancer test maker Grail (GRAL.O) before securing EU antitrust approval. By closing the deal prematurely, Illumina was able to exercise a decisive influence over Grail, the EU enforcer said, calling the move unprecedented and a very serious infringement. Illumina and Grail knowingly and deliberately did so by implementing their tie-up as we were still investigating," EU antitrust chief Margrethe Vestager said in a statement. The company has challenged the EU veto of the deal, its decision to examine the deal despite not meeting the EU merger criteria and the EU order to keep Grail separate so that it can unwind the deal. It said success in the second case would nullify the EU fine and expects the EU court to rule in late 2023 or early 2024.

Persons: Illumina, Margrethe Vestager, Grail, Ilumina, Foo Yun Chee, Elaine Hardcastle Organizations: EU, European Commission, Regulators, U.S . Federal Trade Commission, Thomson Locations: BRUSSELS, U.S, EU

☆ Amazon tells court it shouldn't have to police its platforms for hate speech and disinformation
▼ + stars: | 2023-07-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Amazon has filed a petition with an EU court challenging its upcoming Digital Services Act. The retail giant asked the court to annul its designation as a "very large online platform." 19 companies have been designated as "very large online platforms" or "very large online search engines" because they reach at least 45 million monthly active users. And this means they will have extra obligations, including being required to tackle online hate speech and disinformation. Amazon has asked the court to annul its designation as a "very large online platform" (VLOP) under the act, according to a summary of the petition viewed by Insider.

Organizations: Amazon, Services, Financial Times, EU's Digital, EU haven't, DSA, European Locations: Luxembourg

☆ Google may be forced to break up its ad business after EU charges
▼ + stars: | 2023-06-14 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

The EU might force Google to break up its ad business. Google could be forced to break up parts of its empire after the EU accused it of abusing its dominance in digital ads and "distorting" the competition. As yet, Google is not being fined nor is it being immediately instructed to break up its business. The company will be able to argue its case, and a final outcome to the Commission's investigation is still pending. "The Commission's investigation focuses on a narrow aspect of our advertising business and is not new.

Persons: Margrethe Vestager, Google's, Dan Taylor Organizations: Google, Morning, European Commission, YouTube, Microsoft Locations: adtech

☆ Euro zone slips into recession after Germany, Ireland revisions
▼ + stars: | 2023-06-08 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

The revision was principally due to a second estimate from Germany's statistics office showing that the euro zone's largest economy was in recession in early 2023. The euro zone figure for the fourth quarter of 2022 was also cut to -0.1% from a previous reading of zero. Capital Economics said the outlook for the euro zone economy was poor, with a contraction likely again in the second quarter as the impact of higher interest rates fed through. Eurostat said that household spending stripped 0.1 percentage points, public expenditure 0.3 points and inventory changes 0.4 points from quarterly GDP. Gross fixed capital formation added 0.1 points and net trade a further 0.7 points as imports declined.

Persons: Gross, Philip Blenkinsop, Sharon Singleton Organizations: REUTERS, Gross, Eurostat, Reuters, Economics, P Global Market Intelligence, Thomson Locations: Berlin, Germany, Ireland, BRUSSELS, Greece, Lithuania, Malta, Netherlands, Slovakia

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