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Slot rules and their suspension have big ramifications for airline competition and market access for low-cost carriers, which were making ever deeper inroads before the pandemic. The current waiver expires on March 31. “(The) slot usage requirement threshold shall be set at 50:50.”An IATA spokesman was not immediately available for comment. “Wizz Air finds any attempt to extend the current slot waiver in full, partially or at lower thresholds totally unacceptable,” the airline’s Chief Executive Jozsef Varadi told Reuters. But a blueprint with sector-wide support is bound to influence the European Commission, U.S. Federal Aviation Administration and other regulators, experts say.
Persons: Patrick T, , Jozsef Varadi, John Strickland, Organizations: PARIS, Global, Reuters, Southwest Airlines Co, Los Angeles International Airport, REUTERS, ACI, Ryanair, airline’s, European Commission, . Federal Aviation Administration Locations: Los Angeles , California, U.S
But meetings of the Joint Military Commission in northern Libya, attended by five officers each from the two sides, have yet to make progress on other key demands of a U.N.-brokered agreement, underlining its fragility. Its domed Ouagadougou Conference Centre, an undamaged part of which is now the Joint Military Commission headquarters, serves as a reminder of what is at stake. Today a new banner for the commission hangs where GNA and LNA negotiators hash out details of their October ceasefire. The U.N. process helped resolve an eight-month LNA blockade of oil exports which aggravated economic problems in both east and west. The third strand of talks beyond the military commission and the political process is economic negotiations.
Persons: Omran, , Mohammed Mofteh, Khalifa, Hamad, Gaddafi, Stephanie Williams, Williams Organizations: REUTERS, Military Commission, National Accord, Libyan National Army, OPEC, Ouagadougou Conference Centre, Islamic, Security, National Oil Company, Central Bank of Locations: SIRTE, Libya, TUNIS, Sirte, Benghazi, Tripoli, Misrata, Turkey, Russia, UAE, Egypt, FRONTLINES, Libya’s, Ouagadougou, frontlines, Western, Central Bank of Libya
German court refers Nokia-Daimler dispute to European Court
  + stars: | 2020-11-26 | by ( Matthias Inverardi | Douglas Busvine | ) www.reuters.com sentiment -1.00   time to read: +2 min
DUESSELDORF/BERLIN (Reuters) - A German court on Thursday referred a patent licensing dispute between Finnish telecoms equipment maker Nokia and German carmaker Daimler to the European Court of Justice to clarify the law as it applies to supply chains. Nokia has argued that it has discretion to determine the point in the supply chain at which it issues licences, the Duesseldorf court said in a statement explaining Thursday’s ruling. Daimler has countered that, under European Union single market rules, Nokia is obliged to offer unlimited licences for all uses relating to standard patents. In its ruling, the court found Nokia had the right to seek an injunction against Daimler for patent violation. It suspended proceedings pending clarification of a list of related questions it put to the European Court.
Persons: Daimler, Sergio Perez, Nokia’s Organizations: Nokia, European Court, Justice, Mobile, REUTERS, Daimler, European Commission, European Union Locations: BERLIN, Barcelona, Spain, Brussels, Luxembourg
Britain says Brexit trade deal can be reached, but not at any cost
  + stars: | 2020-11-26 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +1 min
FILE PHOTO: Britain's Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain, November 25, 2020. REUTERS/Simon DawsonLONDON (Reuters) - Britain and the European Union can clinch a Brexit trade deal and the shape of one is clear, but London will not sign up to an accord at any cost, Britain’s finance minister said on Thursday. With just five weeks left until the United Kingdom finally exits the EU’s orbit, both sides are trying to reach a trade deal that would avoid a tumultuous finale to the five-year Brexit crisis. “With a constructive attitude and goodwill on all sides we can get there,” finance minister Rishi Sunak told Sky. European Commission head Ursula von der Leyen said on Wednesday the EU was ready for the possibility of Britain leaving it without a new trade accord despite “genuine progress” in the tortuous Brexit talks.
Persons: Rishi Sunak, Simon Dawson, ” Sunak, Ursula von der Leyen, Michel Barnier, Barnier, David Frost Organizations: REUTERS, Simon Dawson LONDON, European Union, LBC, Commission, EU, European Locations: Downing, London, Britain, United Kingdom, EU, Brussels
Disney to layoff about 32,000 workers in first half of 2021
  + stars: | 2020-11-26 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: A general view of the entrance of Disneyland theme park in Anaheim, California, U.S., March 13, 2020. REUTERS/Mario Anzuoni/File Photo(Reuters) - Walt Disney Co said on Wednesday it would layoff 32,000 workers, primarily at its theme parks, an increase from the 28,000 it announced in September as the company struggles with limited customers due to the coronavirus pandemic. The layoffs will be in the first half of 2021, the company said in a filing with the Securities and Exchange Commission. Earlier this month, Disney said it was furloughing additional workers from its theme park in Southern California due to uncertainty over when the state would allow parks to reopen. The company’s theme parks in Shanghai, Hong Kong and Tokyo remain open.
Persons: Mario Anzuoni, Disney Organizations: REUTERS, Walt Disney Co, Securities and Exchange Commission, United States, Disney, Variety Locations: Anaheim , California, U.S, Southern California, Florida, United, Paris, France, Shanghai, Hong Kong, Tokyo
Disney to lay off about 32,000 workers in first half of 2021
  + stars: | 2020-11-26 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: A general view of the entrance of Disneyland theme park in Anaheim, California, U.S., March 13, 2020. REUTERS/Mario Anzuoni/File Photo(Reuters) - Walt Disney Co said on Wednesday it would lay off 32,000 workers, primarily at its theme parks, an increase from the 28,000 it announced in September, as the company struggles with limited customers due to the coronavirus pandemic. The layoffs will be in the first half of 2021, the company said in a filing with the Securities and Exchange Commission. Earlier this month, Disney said it was furloughing additional workers from its theme park in Southern California due to uncertainty over when the state would allow parks to reopen. The company’s theme parks in Shanghai, Hong Kong and Tokyo remain open.
Persons: Mario Anzuoni, Disney Organizations: REUTERS, Walt Disney Co, Securities and Exchange Commission, United States, Disney, Variety Locations: Anaheim , California, U.S, Southern California, Florida, United, Paris, France, Shanghai, Hong Kong, Tokyo
Disney increases planned layoffs to 32,000 as virus hits theme parks
  + stars: | 2020-11-26 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +1 min
FILE PHOTO: A general view of the entrance of Disneyland theme park in Anaheim, California, U.S., March 13, 2020. A spokesman for Disney confirmed that the latest figures include the 28,000 layoffs announced earlier. Earlier this month, Disney said it was furloughing additional workers from its theme park in Southern California due to uncertainty over when the state would allow parks to reopen. Disney’s theme parks in Florida and those outside the United States reopened earlier this year without seeing new major coronavirus outbreaks but with strict social distancing, testing and mask use. The company’s theme parks in Shanghai, Hong Kong and Tokyo remain open.
Persons: Mario Anzuoni, Disney Organizations: REUTERS, Walt Disney Co, Securities and Exchange Commission, Disney, United States Locations: Anaheim , California, U.S, Southern California, Florida, United, Paris, France, Shanghai, Hong Kong, Tokyo
LONDON (Reuters) - European shares were mixed on Thursday and world shares held near all-time highs after a strong Asian session in which market euphoria around COVID-19 vaccines, Joe Biden’s U.S. presidential election win and hopes for further stimulus outweighed worsening U.S. data. FILE PHOTO: People walk past the London Stock Exchange Group offices in the City of London, Britain, December 29, 2017. Euro zone government bonds were little changed, with Germany’s benchmark Bund yield at -0.571%, as investors waited for the European Central Bank’s October meeting minutes. Oil prices slipped, stalling a rally which saw futures hit 8-month highs on Wednesday. Gold prices picked up as investors bet that the grim U.S. economic data would lead to further stimulus.
Persons: Joe Biden’s, Toby Melville, Europe’s, , Lee Hardman, Biden, Angela Merkel, Ursula von der Leyen Organizations: London Stock Exchange Group, City of, REUTERS, U.S, U.S . Federal, U.S ., European Union, European Commission, Central Locations: COVID, City, City of London, Britain, U.S ., London, U.S, Europe, United Kingdom
The Walt Disney Company said Wednesday it plans to terminate the employment of some 32,000 people in the first half of 2021, Variety reported. Disney is laying off some 32,000 people who work for the company in the first half of 2020. In a filing this week with the US Securities and Exchange Commission, The Walt Disney Company said it would be terminating the employment of "approximately 32,000 employees," primarily at its parks, Variety reported on Wednesday. The number includes Disney Parks' September announcement that 28,000 employees — many of whom were part-time employees — would be laid off, Variety confirmed. The parks, including Florida's Walt Disney World and California's Disneyland, were forced to close at the start of the pandemic.
Persons: furloughs, Walt Organizations: Walt Disney Company, Variety, Disney, US Securities and Exchange Commission, Disney Parks, SEC, Business, Walt Disney Locations: California
Biden is considering regulatory veteran Gary Gensler, who worked for both the Obama and Clinton administrations, for Deputy Treasury Secretary, they said. Kenneth Chenault, who spent nearly 40 years at American Express, is also being considered for a top economic policy position, they added. President-elect Joe Biden is considering Roger Ferguson, Gary Gensler, and Kenneth Chenault for some of the top economic policy roles in his administration, CNBC reported Wednesday, citing sources close to the matter. Former American Express CEO Chenault, who has sat on boards including at Facebook, Airbnb, and Berkshire Hathaway, could also be in the running for another economic policy position, the sources said. Kenneth ChenaultJustin Sullivan/Getty ImagesFormer American Express CEO Kenneth Chenault is also under consideration for a top economic policy position, the sources said.
Persons: Joe Biden, Roger Ferguson, Biden, Gary Gensler, Obama, Clinton, Kenneth Chenault, Ferguson, Gensler, Janet Yellen, Chenault, Berkshire Hathaway, TIAA, Barack Obama's, Gary Gensler Gary Gensler, Chip Somodevilla, Bill Clinton, Hillary Clinton's, Goldman Sachs, Kenneth Chenault Justin Sullivan, Read, Airbnb Organizations: Federal Reserve, of Governors, National Economic Council, CNBC, American Express, Teachers Insurance, Economic Council, Commodity Futures Trading, Treasury Department, Former American Express, Facebook, Berkshire, Treasury, Fortune, Harvard University, Governors, Barack, Board, Getty, Business, Commodity Futures Trading Commission, United, Financial Markets, Domestic Finance, MIT Sloan School of Management, IBM, Procter, Gamble, General Catalyst Partners Locations: United States, Berkshire
FILE PHOTO: An exterior of the SpaceX headquarters in Hawthorne, California May 29, 2014.. REUTERS/Mario Anzuoni/File PhotoWASHINGTON (Reuters) - SpaceX will continue beta testing its satellite-based broadband service Starlink into next year, the company said late Tuesday, indicating commercial service would not likely be offered in 2020 as previously planned. Hawthorne, California-based SpaceX, Elon Musk’s private space exploration company, has launched nearly 900 Starlink satellites to orbit since 2019 with the goal of offering high-speed Internet to rural locations globally. Musk has said the Starlink service will be a crucial source of funding for his broader plans, like developing the super heavy-lift Starship rocket to fly paying customers to the moon and eventually trying to colonize Mars. A SpaceX spokesman did not respond to a request for comment. In filings with the U.S. Federal Communications Commission, the company had anticipated offering commercial service by the end of 2020, then “rapidly expand to near global coverage of the populated world in 2021.”In November, SpaceX got approval from Canadian authorities to start beta testing Starlink in the country, enabling a “fairly wide public beta” in southern Canada.
Persons: Mario Anzuoni, Musk, Kate Tice, , Organizations: SpaceX, WASHINGTON, Elon, U.S . Federal Communications Commission Locations: Hawthorne , California, Mars, Washington , Wisconsin, Idaho, Canada
LISBON (Reuters) - Europe’s biggest technology conference, the Web Summit, will return to Lisbon in full force as a massive in-person event in 2021 after the coronavirus pandemic forced it to go fully online this year. FILE PHOTO: Web Summit's co-founder Paddy Cosgrave, Lisbon's Mayor Fernando Medina and Portugal's Prime Minister Antonio Costa react during the inauguration of Web Summit, Europe's biggest tech conference, in Lisbon, Portugal, November 5, 2018. But due to the outbreak, which has forced the cancellation or postponement of many major events, this year’s Web Summit will be held online next week. On Tuesday evening, Cosgrave announced on Twitter there will be a South American Web Summit in 2022 in either Rio de Janeiro or Porto Alegre in Brazil. “Holding each year, in the build up to November’s Lisbon Web Summit, events in key regions of the world is a good idea.”(This story refiles to fix repetition in headline)
Persons: Paddy Cosgrave, Fernando Medina, Antonio Costa, Pedro Nunes “, , Cosgrave, ” Cosgrave Organizations: Web, Lisbon's, Portugal's, REUTERS, Reuters, European Commission, Twitter, Summit, Locations: LISBON, Lisbon, Portugal, Dublin, Japan, New Zealand, American, Rio de Janeiro, Porto Alegre, Brazil, “ Brazil
Tech giants face fines or even break-up if they breach new rules: EU's Breton
  + stars: | 2020-11-25 | by ( Foo Yun Chee | ) www.reuters.com sentiment -0.99   time to read: +2 min
BRUSSELS (Reuters) - Tech giants that break new EU rules aimed at curbing their powers could face fines, be ordered to change their practices or even be forced to break up their European businesses, the bloc’s digital chief Thierry Breton said on Wednesday. Slideshow ( 2 images )Breton’s comments come two weeks before he is due to present draft rules known as the Digital Services Act (DSA) and Digital Markets Act (DMA), which are likely to affect big U.S. players Google, Apple, Amazon, Facebook and Microsoft. The DSA will force tech companies to explain how their algorithms work, open up their advertising archives to regulators and researchers, and do more to tackle hate speech, harmful content and counterfeit products on their platforms. Forcing companies to break up would be a last resort, said Breton, the EU’s internal market commissioner. Big technology companies seeking acquisitions may also be required to inform the European Commission - the EU executive body - of their intentions, Breton said.
Persons: Thierry Breton, ” Breton, , Breton, Organizations: Tech, Digital Services, Markets, Google, Apple, Facebook, Microsoft, DSA, Big, European Commission, European, EU Locations: BRUSSELS, EU
Breakingviews - Trump could box Biden into a corner on China
  + stars: | 2020-11-25 | by ( Gina Chon | ) www.reuters.com + 0.00   time to read: +3 min
U.S. President Donald Trump arrives to speak to reporters in the Brady Press Briefing Room at the White House in Washington, U.S., November 24, 2020. SAN FRANCISCO (Reuters Breakingviews) - Donald Trump has only two more months to lash out at China as U.S. president. Trump vowed to be tough on the People’s Republic, and there’s no reason to think he won’t continue until the end. Politically, though, whatever Trump does might box him into a corner. As different as Biden is from his predecessor, it may be Trump who sets the tone for the next administration’s relationship with an important trade partner.
Persons: Donald Trump, Joe Biden, Trump, Carrie Lam, Jay Clayton, Biden, pushback Organizations: White, SAN FRANCISCO, Reuters, China Mobile, U.S . Treasury Department, Hong Kong, U.S, Securities, Exchange Commission, Companies, Trump, National Bureau of Economic Research Locations: Brady, Washington , U.S, China, U.S, People’s Republic
WASHINGTON (Reuters) - As President-elect Joe Biden builds his economic team in the coming days, some influential lawmakers are urging him to choose Katherine Tai, the Democratic trade counsel on the House of Representatives’ Ways and Means Committee, as U.S. trade representative. The job, sometimes called the “trade czar,” is expected to be a lynchpin position as Biden pledges to reverse predecessor Donald Trump’s “America First” policies, build jobs at home, and punish Beijing for anti-competitive trade practices. A Yale and Harvard-educated Chinese-American who speaks fluent Mandarin and taught university English for two years in Guangzhou, Tai also headed China trade enforcement at the U.S. Trade Representative’s office (USTR) from 2011 to 2014, litigating trade violation cases before the World Trade Organization. Tai, 45, did not respond to a request for comment and a spokeswoman for the House Ways and Means Committee said she was not granting interviews at this time. Tai faces stiff competition for the USTR post from Michael Wessel, a member of the U.S.-China Economic and Security Review Commission, and Representative Jimmy Gomez, a Ways and Means Committee Democrat from California.
Persons: Joe Biden, Katherine Tai, , Biden, Donald Trump’s “, Tai, Trump, “ Katherine Tai, Sherrod Brown, , ” Brown, Earl Blumenauer, Reuters Tai, Robert Lighthizer, China ”, ” Tai, Michael Wessel, Jimmy Gomez, Don Beyer, Nancy Pelosi Organizations: WASHINGTON, Democratic, Yale, Harvard, U.S . Trade, World Trade Organization, USTR, Democrat, Finance, Reuters, Capitol, Biden, , Center, American Progress, U.S ., China Economic, Security, Commission Locations: Beijing, U.S, Mexico, Canada, Guangzhou, Tai, China, CHINA, United States, California
California regulator flags concerns over PG&E's wildfire safety measures
  + stars: | 2020-11-25 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: Firefighters battle a fire following an explosion at Geary Boulevard and Parker Avenue as PG&E officials dig up the ground to reach the pipe in San Francisco, California, U.S, February 6, 2019. The regulator, in a letter bit.ly/37007E8 to PG&E dated Tuesday, said it will require remediation on specific issues identified in the San Francisco-based utility's wildfire mitigation plan progress reports. PG&E emerged from bankruptcy in July, marking an end to a long-drawn restructuring process which began after its equipment sparked some of the deadliest wildfires in California. CPUC said its concerns arose from what appeared to be a pattern of vegetation and asset management deficiencies. The regulator said its staff had “identified a volume and rate of defects in PG&E’s vegetation management that is notably higher than those observed for the other utilities.”CPUC said a fact-finding initiative is underway to determine if the regulator needed to place PG&E into the “enhanced oversight and enforcement process.”
Persons: Santiago Mejia, CPUC, ” CPUC Organizations: San Francisco, California Public Utilities Commission Locations: San Francisco , California, U.S, San Francisco, California
EU plans to open data to sharing in bid to rival Asia and U.S.
  + stars: | 2020-11-25 | by ( Marine Strauss | ) www.reuters.com sentiment -0.99   time to read: +1 min
“Data should be accessible and the sharing of such data should be secure,” European Commission Vice-President Margrethe Vestager told a news briefing on Wednesday. The Commission proposed a new model based on the neutrality and transparency of so-called “data intermediaries,” which would organise data sharing or pooling, to increase trust. This follows a broader data strategy by the Commission in February to create a single European data market, hoping that pooling industrial expertise will help build technology firms to rival Silicon Valley and state-backed Chinese heavyweights. Having lagged the first wave of digital innovation, particularly in consumer markets such as social media, online shopping and smartphones, the EU sees itself in a battle for industrial data and its potential. The EU said the new measures could increase the annual economic value of data sharing from 7 billion euros ($8.33 billion) up to 11 billion euros by 2028.
Persons: Margrethe Vestager, Thierry Breton Organizations: European Commission, European Union, , Commission, EU Locations: BRUSSELS, U.S, Silicon Valley
BRUSSELS (Reuters) - The European Union is planning tough measures to boost its access to drugs, from sidestepping patents rights in emergencies to taking production to Europe, according to EU documents published on Wednesday. The EU flag is reflected in a drop on a syringe needle in this illustration taken November 9, 2020. The European Union Commission wants faster procedures during crises to produce generic versions of drugs in EU states without the consent of patent holders, an EU document says. However, the COVID-19 emergency has led to a reconsideration of existing procedures, which largely fall under the remit of national governments in the EU. The possible measures are part of a wider EU strategy published on Wednesday.
Persons: Dado Ruvic, drugmakers Organizations: European, EU, REUTERS, European Union Commission, World Trade Organization, Reuters Locations: BRUSSELS, Europe, EU
EU seeks to bypass patents to boost drugs access in crises
  + stars: | 2020-11-25 | by ( Francesco Guarascio | ) www.reuters.com + 0.00   time to read: +5 min
The EU flag is reflected in a drop on a syringe needle in this illustration taken November 9, 2020. The European Commission wants faster procedures during crises to produce generic versions of drugs in EU states without the consent of patent holders, an EU document says. So-called compulsory licensing is allowed under World Trade Organization (WTO) rules in emergencies as a waiver of normal regulations and could be applied during the COVID-19 pandemic. Ironically, the proposal is part of an EU action plan on intellectual property that is mostly aimed at strengthening the protection of EU companies’ patents against foreign actors. The move differs from proposals from South Africa and India to pre-emptively waive WTO intellectual property rules during the pandemic - proposals the EU has said are too drastic.
Persons: Dado Ruvic, ” EFPIA, Gilead, drugmakers, Margaritis Schinas Organizations: European, EU, REUTERS, European Commission, World Trade Organization, COVID, emptively, Reuters Locations: BRUSSELS, Europe, EU, United States, South Africa, India, China
European Commission President Ursula Von Der Leyen speaks during a debate on next EU council and last Brexit development during a plenary session at the European Parliament in Brussels, Belgium November 25, 2020. Olivier Hoslet/Pool via REUTERSBRUSSELS (Reuters) - Poland and Hungary should ask the European Union’s top court to assess the link between access to EU money and observing the rule of law, instead of blocking the EU’s 2021-2027 budget and recovery plan, the head of the European Commission said. Speaking to the European Parliament, Von der Leyen stressed that the EU’s rule that the bloc’s funds can only be sent to governments that observe the rule of law would be applied only to protect EU budget funds. “We are talking here about the violations of the rule of law that are threatening the EU budget and only that,” she said. They can go to the European Court of Justice and allow the new rules to be tested there,” von der Leyen said.
Persons: Ursula Von Der Leyen, Olivier Hoslet, Ursula von der Leyen, Von der Leyen, , ” von der Leyen Organizations: REUTERS BRUSSELS, European Commission, European Court of Justice, EU Locations: Brussels, Belgium, Poland, Hungary, Warsaw, Budapest, Europe
BRUSSELS/LONDON (Reuters) - The European Commission failed to properly consider conflicts of interest when it appointed a division of BlackRock, the world’s largest asset manager, to help develop green banking rules, the European Union watchdog said on Wednesday. FILE PHOTO: The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. A BlackRock spokesman said the Commission had already publicly stated that the technical quality of FMA’s proposal underpinned the contract win. The European Commission said it welcomed the Ombudsman’s findings, which did not find evidence of maladministration, and would study its recommendations in detail. Amid increased scrutiny of existing EU rules, the Ombudsman criticised the Commission last week for granting priority status to gas projects without properly assessing their climate impact.
Persons: Toru Hanai, Emily O’Reilly, O’Reilly, “ FMA, , BlackRock Organizations: LONDON, European Commission, European Union, BlackRock Japan, REUTERS, BlackRock, Advisory, prudential, Change Finance, Commission, Finance, Corporate, Observatory Locations: BRUSSELS, BlackRock, Tokyo, Japan, Brussels
FILE PHOTO: The Facebook logo is displayed on a mobile phone in this picture illustration taken December 2, 2019. REUTERS/Johanna Geron/IllustrationSEOUL (Reuters) - A South Korean agency for protecting personal information on Wednesday fined Facebook Inc 6.7 billion won ($6.06 million) and sought a criminal investigation for providing users’ personal information to other operators without consent. The country’s Personal Information Protection Commission, launched in August this year, said in a statement it fined Facebook after a probe found that the personal information of least 3.3 million of the 18 million Facebook users in Korea were provided to operators other than Facebook without their knowledge, from May 2012 to June 2018. When someone uses another operator’s service through Facebook’s log-in, the personal information of the user’s Facebook friends were provided to other operators without their consent, the commission said. The commission said it will refer Facebook Ireland Ltd, the recipient of the fine, to the country’s prosecution for a criminal investigation.
Persons: Johanna Geron Organizations: REUTERS, Facebook, Protection Commission, Ltd, Commission Locations: SEOUL, Korean, Korea, Seoul
FILE PHOTO: European Commission President Ursula Von Der Leyen gives a news briefing at the end of a virtual conference with EU leaders about EU government's measures against the coronavirus disease (COVID19) crisis, in Brussels, Belgium, October 29, 2020. “The next days are going to be decisive,” European Commission president Ursula von der Leyen told the European Parliament. But we are not ready to put into question the integrity of our single market,” she said. Negotiators have agreed the outline of a new partnership treaty on goods and services, as well as on transport, she said. In the discussions about state aid, we still have serious issues, for instance when it comes to enforcement,” she said.
Persons: Ursula Von Der Leyen, Olivier Hoslet, , Ursula von der Leyen, Von der Organizations: EU, REUTERS BRUSSELS Locations: Brussels, Belgium, Britain, EU, Union, German
Britain left the EU in January and a status quo transition period expires at the end of this year. The estranged allies are in a last-ditch effort to agree terms to keep trade flowing without tariffs or quotas. An official involved in the negotiations said a deal was possible, but not likely before the weekend at the earliest. The EU needed to be able to retaliate on trade if Britain undercuts labour or environmental standards, she said. Johnson has repeatedly said he wants a deal with the EU, but only if it respects British sovereignty.
Persons: Ursula von der Leyen, ” Ireland’s Micheal Martin, Martin, Von der Leyen, , von der Leyen, , Boris Johnson, Johnson Organizations: Reuters, European Union, European Commission, EU, Britain Locations: BRUSSELS, DUBLIN, Britain, EU, Brussels, British
EU derivatives decision leaves London in the lurch
  + stars: | 2020-11-25 | by ( Huw Jones | ) www.reuters.com + 0.00   time to read: +3 min
This will mean that branches of EU banks in London face conflicting EU and British requirements on where to trade derivatives. The City of London touts itself as the go-to location globally for trading derivatives - the life blood of financial markets, allowing investors to bet on a swathe of assets and hedge risk. “ESMA acknowledges that this approach creates challenges for some EU counterparties, particularly UK branches of EU investment firms,” the watchdog said. Britain’s Financial Conduct Authority said it will not be adjusting its approach to derivatives trading at this time. “Given the rules on trading venues in the EU and UK are virtually identical, we think equivalence is justified and necessary,” Cogan said.
Persons: Brexit, “ ESMA, , Roger Cogan, ISDA’s, ” Cogan Organizations: European Union, Securities and Markets Authority, EU, Authority, , European Commission, Association Locations: European, Britain, Brussels, Paris, EU, United States, London, City
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