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☆ The leaders at this year's G7 summit look weaker than ever
▼ + stars: | 2024-06-14 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Read previewThe G7 summit has long been a showcase of global leadership and power. But 2024's group of leaders appears to be one of the weakest that has attended the summit for some time. French President Emmanuel Macron, Italian Prime Minister Giorgia Meloni, US President Joe Biden, and Japanese Prime Minister Fumio Kishida at the G7 summit. 'Brittle at best'Payne argued that some of the G7 leaders aren't outright weak; rather, they face circumstances that threaten their authority. And right now, the domestic foundations of most of the G7 leaders are brittle at best," he added.

Persons: —, Inderjeet Parmar, Emmanuel Macron, Olaf Scholz's, Rishi Sunak, Giorgia Meloni, Joe Biden, Fumio Kishida, Antonio Masiello, Andrew Payne, Payne, Donald Trump, Hunter Biden's, Parmar, aren't Organizations: Service, Business, Politico, City University of London, EU, Olaf Scholz's Social Democrats, Christian Democrats, Social Democrats, White House Locations: Canada, France, Germany, Italy, Japan, Italian, Ukraine

☆ European markets head for lower open after surge for right-wing parties in EU election
▼ + stars: | 2024-06-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

An employee enters sliding doors decorated with the stars of the European Union (EU) flag at the Berlaymont building, headquarters of the European Commission (EC), in Brussels, Belgium, on Tuesday, Jan. 28, 2020. LONDON — European stocks are expected to open lower Monday as traders react to initial results from the EU Parliament elections which suggest far-right parties have surged in popularity. The U.K.'s FTSE index is seen 57 points lower at 8,193, Germany's DAX 45 points lower at 18,507, France's CAC 40 down 45 points at 7,952 and Italy's FTSE MIB 60 points lower at 34,629, according to IG. Regional markets will be focused on the results of EU parliamentary elections, which took place over the last few days. The EU election drama was rounded off Sunday evening when French President Emmanuel Macron called snap parliamentary elections later this month after suffering a heavy defeat in the EU vote.

Persons: Germany's DAX, Emmanuel Macron Organizations: European Union, European Commission, LONDON, CAC, IG, Regional Locations: Brussels, Belgium, Britain, EU

☆ China’s Xi is visiting Europe for the first time in five years – his goodwill tour will be an uphill struggle
▼ + stars: | 2024-05-04 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Major breakthroughs with China’s toughest critics will be hard to come by unless Xi is ready to make surprise concessions. And the trip could instead serve to underscore divisions – not only between Europe and China – but those within Europe that could play to China’s favor, analysts say. Chinese President Xi Jinping and French President Emmanuel Macron visit a garden in Guangdong during Macron's state visit to China last April. Putin has said he plans to visit China this month, according to Russian state media. Xi may also look to highlight Chinese investments in both Belgrade and Budapest in a message to the rest of Europe.

Persons: Xi Jinping, Andrea Bocelli, –, Xi, China –, ”, Noah Barkin, Hungary –, Ursula von der Leyen, Emmanuel Macron, Von der Leyen, Olaf Scholz, Chong Ja Ian, “, Chong, Jacques Witt, China’s, Macron, Russia …, Wang Yiwei, Vladimir Putin, Putin, Aleksandar Vučić, Viktor Orban – Organizations: CNN, European Union, Ukraine, German Marshall Fund of, EU, “, National University of Singapore, Getty, Beijing’s Renmin University, NATO, Reuters, EV Locations: China, Italy, France, Germany, United Kingdom, Russia, “ China, Europe, Berlin, United States, Serbia, Hungary, Beijing, Paris, “ France, North America, Guangdong, Ukraine, Switzerland, Barkin, “, Belgrade, Budapest, Balkans, Balkan

☆ Europe investigates Big Tech’s use of generative AI
▼ + stars: | 2024-03-14 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Regulators at the European Commission say they’re particularly concerned about how generative AI could sow chaos in the run-up to this summer’s EU parliamentary elections. Online platforms will have until April 5 to respond to questions about steps they’ve taken to prevent AI tools from spreading election misinformation. The companies’ responses could be incorporated into a series of election security guidelines for tech platforms the European Commission plans to finalize by March 27, another commission official said. The AI investigation also covers a broader set of topics including how platforms are addressing generative AI’s impact on user privacy, intellectual property, civil rights and children’s safety and mental health. “One of the grievances we have is the ability to manipulate the service through automated means and this can include generative AI, so yes, there’s a link to the ongoing investigation,” one of the commission officials said.

Persons: “, ”, Linda Yaccarino, Thierry Breton Organizations: CNN, European Union, Meta, Microsoft, Commission, Digital Services, Elon Locations: Israel, EU

☆ Angry farmer protests are spreading across Europe — and getting results
▼ + stars: | 2024-02-12 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

But that reputation is now being firmly tested, after it toned down its climate policies following angry farmer protests that are taking place across the continent. The European Commission, the executive arm of the EU, now intends to scrap a plan to halve pesticide use. Speaking to CNBC Thursday, the EU's Agriculture Commissioner Janusz Wojciechowski said he was "happy" about the U-turns because they were not "fully fair." The EU wants to become carbon neutral by 2050. It also wants to cut greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.

Persons: Janusz Wojciechowski, Wojciechowski, Europe's, Alberto Alemanno, Alemanno Organizations: European Commission, EU, CNBC, Paris Business School Locations: H.E.C

Macron's opponents are seizing on the farmers' demonstrations to bash his government's record ahead of European elections in June. Far-right leader Marine Le Pen, whose National Rally party is polling strongly, blamed free-trade agreements, imports and bureaucracy for farmers' economic woes. Roads hit Thursday morning by drive-slows included a highway west of the French capital and seat of power. “We are getting progressively closer to Paris,” farmer David Lavenant said to broadcaster BFM-TV. In recent weeks, farmers have staged protests in Germany, the Netherlands, Poland and Romania.

Persons: Gabriel Attal, Emmanuel Macron, Marine Le, ”, David Lavenant, Ursula von der Leyen, von der Locations: Paris, Agen, France, Brussels, Germany, Netherlands, Poland, Romania

☆ Live updates: Tesla to report 4th-quarter earnings
▼ + stars: | 2024-01-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

It indicates the ability to send an email. Electric-vehicle demand could hit a low later this year, Morgan Stanley saysA Tesla supercharger station at Burbank Town Center, in Burbank on Friday, Sept. 4, 2020 in Burbank, CA. Kent Nishimura /Getty ImagesMorgan Stanley has warned of an imbalance of EV supply and demand which could weigh on Tesla this year. "Looking ahead, are we approaching maximum market negativity on EVs? We believe the trough may happen towards the latter part of 2024," the bank said in a note, citing influences stemming from the EU Parliamentary and US presidential elections.

Persons: Morgan Stanley, Kent Nishimura, Hertz Organizations: Burbank Town Center, Getty, EU Parliamentary Locations: Burbank, Burbank , CA, China

☆ EU talks migration as Italy, Germany worry over increased arrivals
▼ + stars: | 2023-09-28 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

[1/2] An Italian Coast Guard vessel carrying migrants rescued at sea passes near a tourist boat, on the Sicilian island of Lampedusa, Italy, September 18, 2023. REUTERS/Yara Nardi Acquire Licensing Rightsサマリー Higher arrivals, looming elections put migration high on agendaFocus on whether Berlin backs proposed new EU 'crisis mechanism'Some propose Egypt for next migration deal after TunisiaBRUSSELS, Sept 28 (Reuters) - The European Union's migration ministers meet in Brussels on Thursday to discuss how to handle migrants arriving by sea as Italy and Germany worry over increased immigration, with Berlin launching border controls inside Europe's zone of open travel. "There is a lot of unrest in (the) direct neighbourhood of Europe," said one senior EU diplomat. The EU has been pushing tougher anti-immigration policies since more than a million people reached its southern shores in 2015, catching the bloc by surprise and overwhelming security and reception capacities in countries including Italy. The 27-member governments have since struggled to modernise their shared asylum and migration rules - including the "crisis mechanism" - especially as they want to look in control for their voters ahead of a pan-EU parliamentary election in 2024.

Persons: Yara, Giorgia Meloni, Nancy Faeser, Faeser, Gabriela Baczynska, Emelia Sithole Organizations: Italian Coast Guard, REUTERS, Berlin, Italy's, EU Locations: Lampedusa, Italy, Egypt, Tunisia BRUSSELS, Brussels, Germany, Berlin, Tunisia, Europe, EU, Poland, Czech Republic, Bavaria, East, Africa, Asia

Marine Le Pen, member of parliament and president of the French far-right National Rally (Rassemblement National - RN) party parliamentary group, speaks during the questions to the government session at the National Assembly in Paris, France, July 4, 2023. REUTERS/Stephanie Lecocq/File Photo Acquire Licensing RightsPARIS, Sept 22 (Reuters) - The Paris prosecutor's office said on Friday that far-right leader Marine Le Pen and 23 other members of her party should stand trial over alleged misuse of EU funds, escalating a seven-year-old probe. The prosecutor's office said some 49 assistants' situation had been examined over a period of time spanning three EU parliament terms of office, from 2004 to 2016. She faces a potential 10-year jail sentence, a one million euros fine, and - as she's an elected official - ineligibility to hold public office for 10 years, the prosecutor's office said. Judges will have to decide whether or not to accept the prosecutor's office petition for trial.

Persons: Stephanie Lecocq, Marine Le, Le Pen, Emmanuel Macron, Juliette Jabkhiro, Dominique Vidalon, Elizabeth Pineau, Charlotte Van Campenhout, William Maclean Organizations: National Assembly, REUTERS, Rights, Rassemblement, Reuters, Thomson Locations: Paris, France, Le Pen's

☆ Italy PM Meloni takes 'full responsibility' for bank tax
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jonathan Ernst/File PhotoMILAN, Aug 14 (Reuters) - Italian Prime Minister Giorgia Meloni on Monday took "full responsibility" for last week's shock decision to impose a one-off bank tax that has been blamed for causing lasting damage to her government's credibility with financial markets. In comments to Italian newspapers Corriere della Sera, la Repubblica and La Stampa, Meloni said the 40% levy had no punitive intent. The new tax targets a rise in profits banks have derived from higher rates. Sources told Reuters when the measure was announced the Treasury expected to draw less than 3 billion euros ($3.3 billion) from the tax. With Economy Minister Giancarlo Giorgetti noticeably absent from the press conference to announce the tax, Meloni said he had been informed about the decision.

Persons: Giorgia Meloni, Joe Biden, Jonathan Ernst, MILAN, Meloni, Giancarlo Giorgetti, France's Marie Le Pen, Claudia Cristoferi, Federico Maccioni, Valentina Za, Bernadette Baum Organizations: Italy's, U.S, White, REUTERS, Italian, della, Repubblica, la Repubblica, Reuters, Treasury, Forza Italian, Thomson Locations: Washington , U.S, La, la

☆ EU countries fail to agree energy reforms after coal subsidy clash
▼ + stars: | 2023-06-19 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

EU energy ministers meeting in Luxembourg ended talks without a joint stance on the reforms that seek to avoid a repeat of last year's energy crisis, when record-high gas prices left consumers with soaring energy bills. EU countries' ambassadors will take up the negotiations, aiming for a deal this month. Asked about the coal proposal, Swedish Energy Minister Ebba Busch said ensuring Poland, which borders Ukraine, had stable power generation could help it support Ukraine with back-up power. Poland, which gets around 70% of its power from coal, could prolong its support scheme for coal plants, potentially until 2028, under the proposal. EU countries must negotiate the final power market upgrade with the EU Parliament, with the aim to pass the law before EU parliamentary elections next year.

Persons: Ebba Busch, Anna Moskwa, Robert Habeck, Kate Abnett, Tassilo Hummel, Sudip Kar, Giles Elgood, Emelia, Barbara Lewis, Marguerita Choy Organizations: Union, Swedish Energy, Reuters, European Commission, Climate, EU, Thomson Locations: Poland, Belgium, Germany, LUXEMBOURG, Luxembourg, Sweden, Ukraine, Ukrainian, Austria, Greece, Spain

☆ European Parliament to waive immunity of two MEPs in corruption case
▼ + stars: | 2023-01-02 | by ( Charlotte Campenhout | ) www.reuters.com time to read: +2 min

BRUSSELS, Jan 2 (Reuters) - The European Parliament said on Monday it had begun a procedure to waive the immunity of two of its members after a request from Belgian judiciary investigating a European Union-Qatar corruption scandal. Two sources close to the investigation told Reuters the two MEPs were Belgian Marc Tarabella and Italian Andrea Cozzolino. "Following a request from the Belgian judicial authorities, I have launched an urgent procedure for the waiver of immunity of two members of the European Parliament," parliament president Roberta Metsola said on Twitter. In December, two sources with direct knowledge of the matter told Reuters that Francesco Giorgi, one of the main suspects in the investigation along with his partner, ousted European Parliament vice-president Eva Kaili, confessed to taking bribes from Qatar to influence European Parliament decisions on Qatar. According to the sources, Giorgi, an EU parliamentary assistant, said he suspected Tarabella and Cozzolino had received money from Qatar.

BRUSSELS Dec 15 (Reuters) - Francesco Giorgi, the partner of ousted European Parliament vice-president Eva Kaili, has confessed his role in a Qatar graft scandal, two sources with direct knowledge of the matter told Reuters. Giorgi's confession to taking bribes from Qatar to influence European Parliament decisions on Qatar had made "a significant contribution" to the probe underway by Belgian investigating magistrates, one of the sources said. Greek MEP Kaili, who was ousted from her role as vice president of the European Parliament on Monday, has denied any wrongdoing through her lawyer. Tarabella, who had previously confirmed that his home was searched on Saturday as part of the Belgian investigation, has denied any wrongdoing. The European Parliament on Thursday suspended all work on legislation linked to Qatar, and parliament's president, Roberta Metsola, told EU leaders she would lead reforms to prevent a repeat of a criminal corruption scandal.

☆ Debt rules in Europe are changing. And that could have big repercussions in the bond markets
▼ + stars: | 2022-11-04 | by ( Silvia Amaro | ) www.cnbc.com time to read: +6 min

The euro zone is to discuss changing its fiscal rules - a task that could have market repercussions. Bloomberg | Bloomberg | Getty ImagesThe euro zone will soon reveal changes to its fiscal rules — a move that could have significant repercussions for government borrowing costs and the region's bond markets. At the same time, Germany and the Netherlands would blame the European Commission for not enforcing the rules with fines. "Interest burden on large public debt to GDP ratios is set to increase significantly in the years ahead. This means that in a optimal scenario, the fiscal rules will be changed from 2024 onward.

☆ Romania’s PNL, PMP win most Moldova’s votes in EU parliamentary election
▼ + stars: | 2019-05-27 | by ( ) www.ipn.md time to read: +1 min

Romania’s PNL, PMP win most Moldova’s votes in EU parliamentary electionSome 38,000 Moldovans with Romanian citizenship voted in the European Parliament election on May 26. The National Liberal Party (PNL) and the People’s Movement Party were the biggest winners in Moldova, taking roughly 13,600 and 11,000 votes respectively, with the Alliance 2020 USR-PLUS coming in third with over 3,500 votes. According to Romania’s Central Electoral Bureau, over 3,000 Romanians in Moldova voted for the governing Social Democratic Party (PSD), Pro Romania Party got over 1,500 votes, and the independent candidate Peter Costea over 360 votes. With 96% of ballots counted, PNL got 26.81% (10 seats), PSD – 23.39% (9 seats) and USR-PLUS – 21.37% (7 seats). Pro Romania’s Party, which includes former Moldovan prime minister Iurie Leanca no.4 on its list, got 6.61% and only 2 seats.

Persons: PMP, George Simion, Peter Costea, ALDE, Iurie Leanca Organizations: PNL, National Liberal Party, People’s Movement Party, Romania’s, Electoral Bureau, Social Democratic Party, PSD, Pro Romania Party, Pro Romania’s Party, Moldovan Locations: Moldova, Romania

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