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Sterling set for worst month vs dollar since September
  + stars: | 2021-06-25 | by ( Joice Alves | ) www.reuters.com sentiment -1.00   time to read: +2 min
* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9HvLONDON, June 25 (Reuters) - Sterling edged lower on Friday and was on track for its worst month versus the dollar since September after the Bank of England kept its policy unchanged. Investors had hoped a more optimistic economic assessment from the BoE would push sterling back towards $1.40. Sterling was down 0.1% versus the dollar at $1.3910 at 0824 GMT, and it was on track for its worst month against the greenback since September 2020. Earlier this month, sterling dropped below $1.38 against a strengthening dollar after the U.S. Federal Reserve surprised markets by signalling it would raise interest rates and end emergency bond-buying sooner than expected. Versus the euro, the pound was 0.2% lower at 85.84 pence, but was still set for a weekly gain.
Persons: BoE, Sterling, Joice Alves, Pravin Char Organizations: Sterling, Bank of England, ING, Investors, U.S . Federal Reserve, European Union Locations: Britain, England, British, Northern Ireland, EU
Amazon and Google face UK competition probe over fake reviews
  + stars: | 2021-06-25 | by ( Ryan Browne | ) www.cnbc.com sentiment -1.00   time to read: +2 min
LONDON — Britain's competition regulator on Friday launched a formal probe into Amazon and Google over concerns they haven't done enough to tackle fake reviews. "We are investigating concerns that Amazon and Google have not been doing enough to prevent or remove fake reviews to protect customers and honest businesses," Andrea Coscelli, chief executive of the CMA, said in a statement. The Competition and Markets Authority began an initial investigation into the issue of fake reviews back in May 2020. Earlier that year, it had gotten Facebook and eBay to remove several groups and accounts that engaged in trading fake reviews. On Friday, the CMA focused on Amazon and Google, saying it was going to look into whether they had done enough to detect and remove fake reviews.
Persons: Andrea Coscelli Organizations: Google, CMA, Markets Authority, eBay, Facebook, European Union, Brexit, Markets Unit
Late night breakthrough brings EU closer to deal on farm subsidies
  + stars: | 2021-06-25 | by ( Kate Abnett | ) www.reuters.com + 0.85   time to read: +2 min
We made a huge progress overnight on most sensitive issues," said EU agriculture commissioner Janusz Wojciechowski, who participated in the talks. Any funds below those limits that are not spent on eco-schemes must be spent on green measures in other areas instead. The new CAP rules apply from 2023. Other tentative agreements included rules requiring EU countries to redistribute at least 10% of CAP funds to smaller farms. EU auditors this week said the current CAP was failing to reduce emissions, despite spending 100 billion euros in "climate-friendly" subsidies since 2014.
Persons: Janusz Wojciechowski, Kate Abnett, Toby Chopra Organizations: European Union, Reuters, CAP, Thomson Locations: BRUSSELS
In this photo illustration, the word "Brexit" is displayed on a mobile phone with the European Union flag in the background. LONDON — From Jan. 2022, some Brits will have to start paying to use their phone in European Union countries again. On Thursday, Britain's top mobile network operator EE announced it would bring back mobile roaming charges, starting next year. The BT-owned carrier will introduce a new flat fee of £2 ($2.78) a day for customers using their data, minutes or texts while traveling to EU countries — with the exception of Ireland, which is included in EE's domestic plans. There will also be a 30-day "Roam Abroad Pass" for which customers can pay £10 to use their phone in the EU for longer periods of time.
Organizations: European Union, Union, EE, BT, CNBC, EU Locations: Ireland
Euro zone to recover faster than thought, still needs support -ECB
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.72   time to read: +1 min
Cars intended for export wait at the port for loading, as the spread of the coronavirus disease (COVID-19) continues in Bremerhaven, Germany, April 24, 2020. REUTERS/Fabian BimmerBRUSSELS, June 25 (Reuters) - The euro zone is recovering faster than earlier expected, but still needs continued fiscal and monetary support so that the pandemic does not leave scars, European Central Bank head Christine Lagarde told European Union leaders on Friday. "Euro area GDP is recovering and will return to pre-pandemic levels by the first quarter of 2022, one quarter earlier than expected in spring," Lagarde told the leaders according to one official familiar with the talks. "Fiscal and monetary policy continue to play their role in underpinning economic activity and bolstering confidence. Continued support is needed to avoid that the pandemic leave large scars o the economy," she said.
Persons: Fabian Bimmer, Christine Lagarde, Lagarde, Jan Strupczewski Organizations: REUTERS, Fabian Bimmer BRUSSELS, Central Bank, European Union, Thomson Locations: Bremerhaven, Germany
Demonstrators protest against Hungarian Prime Minister Viktor Orban and the latest anti-LGBTQ law in Budapest, Hungary, June 14, 2021. REUTERS/Marton Monus/File PhotoBRUSSELS, June 25 (Reuters) - Respect LGBT rights or leave the European Union, Dutch Prime Minister Mark Rutte told his Hungarian counterpart as the bloc's leaders confronted Viktor Orban over a law that bans schools from using materials seen as promoting homosexuality. Several participants spoke of the most intense personal clash among the 27 EU leaders in years on Thursday night. Luxembourg Prime Minister Xavier Bettel said Budapest should also be subject to an as-yet untested procedure to cut EU funding for those who violate democratic rules. The EU is pushing Orban to repeal the law - the latest in a string of restrictive policies towards media, judges, academics and migrants.
Persons: Viktor Orban, Marton Monus, Mark Rutte, Rutte, Emmanuel Macron, Xavier Bettel, Alexander De Croo, Orban, Angela Merkel, Bettel, Gabriela Baczynska, Kevin Liffey Organizations: Hungarian, REUTERS, European Union, Dutch, EU, European, Belgian, Thomson Locations: Budapest, Hungary, BRUSSELS, Luxembourg, Poland, paedophiles, Slovenia, Brussels
Italy wanted EU-Russia summit, backs dialogue with Moscow -Draghi
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Italy's Prime Minister Mario Draghi arrives for a European Union leaders meeting in Brussels, Belgium June 24, 2021. REUTERS/Johanna Geron/PoolBRUSSELS, June 25 (Reuters) - Italy backed a Franco-German proposal to hold a summit with Russia, Italian Prime Minister Mario Draghi said on Friday, adding it was important to maintain dialogue with such an important economic power. The proposal was rejected at an EU summit, after Poland and Baltic countries said it would send the wrong message as East-West ties deteriorate. Speaking at the end of the summit, Draghi said many people only found out about the idea on Thursday, giving its supporters little time to rally support. "Russia is an important player on the economic and political front, it cannot not be involved, we must have an active dialogue," Draghi told reporters.
Persons: Mario Draghi, Johanna Geron, Draghi, Crispian Balmer, Agelo, Gavin Jones Organizations: Italy's, European Union, REUTERS, Thomson Locations: Brussels, Belgium, BRUSSELS, Italy, Franco, Russia, Italian, Poland, Baltic
Palestinian mourners call for change at funeral of Abbas critic
  + stars: | 2021-06-25 | by ( Yosri Al Jamal | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Ammar AwadHEBRON, West Bank, June 25 (Reuters) - Palestinian mourners called on Friday for a change of government as they marched through Hebron for the funeral of one of President Mahmoud Abbas's most prominent critics, who died after he was arrested by security forces. Thousands of people accompanied Nizar Banat's coffin through the streets of the occupied West Bank city, many of them chanting "the people want the fall of the regime" and "leave, leave Abbas". Banat, 43, was a social activist who had accused Abbas's PA of corruption, including over a short-lived COVID-19 vaccine exchange with Israel this month and Abbas's postponement of a long-delayed election in May. The United States, United Nations and European Union called on the PA to conduct a "transparent" inquiry into Banat's death. Abbas and the PA, which exercises limited self-rule in the West Bank, reject accusations they are corrupt and that they arrest people for their political views.
Persons: Ammar Awad HEBRON, Mahmoud Abbas's, Nizar, Abbas, Jibrin Al, Bakri, Abbas's, Rami Ayyub, Ali Sawafta, Andrew Heavens Organizations: REUTERS, West Bank, West, Protesters, Palestinian Authority, Human Rights, Rights Watch, United Nations, European Union, Thomson Locations: Nizar Banat, Al, Aqsa, Jerusalem's Old City, West, Hebron, West Bank, Gaza, Ramallah, East Jerusalem's Al, Banat, Israel, United States, European
WASHINGTON (Reuters) -The United States and the European Union could settle a dispute over U.S. tariffs on steel and aluminum by the end of the year, German Economy Minister Peter Altmaier said on Thursday, after a meeting with top U.S. trade official Katherine Tai. FILE PHOTO: German Economy Minister Peter Altmaier addresses a news conference in Berlin, Germany, April 27, 2021. John Macdougall/Pool via REUTERS/File PhotoAltmaier said he invited Tai to visit Berlin to continue the dialogue, and she had accepted. “In the steel and alumiminum sector I think a solution can be found by the end of the year,” he said. Washington may find it difficult to remove metals tariffs, which are backed by many U.S. metal producers and workers.
Persons: Peter Altmaier, Katherine Tai, John Macdougall, Altmaier, Tai, , Angela Merkel’s, , Davidson, Biden, Donald Trump, ” Altmaier Organizations: WASHINGTON, European Union, U.S, European, Harley, EU, World Trade Organization Locations: United States, Berlin, Germany, London, U.S, China . Washington
JERUSALEM — An outspoken critic of the Palestinian Authority who was a candidate in parliamentary elections called off earlier this year died after Palestinian security forces arrested him and beat him with batons on Thursday, his family said. Earlier this week, another prominent activist was detained by the PA and held overnight after criticizing it on Facebook. Mohammed Banat, a cousin who witnessed the arrest, said a group of men, some wearing masks, burst into the house where Nizar was staying and sprayed everyone with pepper spray. In a brief statement, the Hebron governorate said Nizar's "health deteriorated" when Palestinian forces went to arrest him early Thursday. He blamed the attack on Abbas' Fatah party, which dominates the security forces.
Persons: Mahmoud Abbas, Nizar, Mohammad Shtayyeh, Abbas, Fatah, Antony Blinken, Biden, Donald Trump Organizations: Palestinian Authority, West Bank, Facebook, Hamas, Associated Press, Palestinian, European Union, United Nations, NBC Locations: JERUSALEM, Nizar Banat, Israel, Jerusalem, Gaza, Mohammed Banat, Hebron
U.S. Treasury Secretary Janet Yellen testifies before the Senate Appropriations Subcommittee on Financial Services about the FY22 Treasury budget request on Capitol Hill in Washington, DC, U.S., June 23, 2021. Greg Nash/Pool via REUTERSWASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen will attend the G20 finance ministers and central bank governors meeting in Venice, Italy, on July 9-10 to press U.S. policy priorities on taxes, climate change and an inclusive recovery from the COVID-19 pandemic, the Treasury said on Thursday. Yellen will meet bilaterally with G20 counterparts and attend the Venice International Conference on Climate with G20 counterparts on July 11. She will then travel to Brussels to meet with European Union counterparts and the Eurogroup“to discuss U.S. policy priorities and respective efforts to support the economic recovery,” Treasury said.
Persons: Janet Yellen, Greg Nash, Yellen, Organizations: Treasury, Financial Services, Capitol, REUTERS WASHINGTON, . Treasury, Venice International, European Union, ” Treasury Locations: Washington , DC, Venice, Italy, Brussels
European leaders reacted warily Thursday to a proposal from Germany and France to meet with Russian President Vladimir Putin, following President Biden’s summit with him last week. Facing skepticism, in particular from countries that border Russia, French President Emmanuel Macron and Germany Chancellor Angela Merkel defended their proposal as necessary diplomacy. “In my opinion, we as the European Union must also seek direct contact with Russia and the Russian president,” Ms. Merkel said in Parliament before flying to Brussels for a meeting with EU leaders. “It is not enough for U.S. President Joe Biden to talk to the Russian president. Some European leaders criticized the proposal, saying it could give the impression that Russian military and destabilization campaigns against its neighbors and the West were being overlooked.
Persons: Vladimir Putin, Biden’s, Emmanuel Macron, Angela Merkel, ” Ms, Merkel, Joe Biden, Organizations: European Union, EU, U.S Locations: Germany, France, Russia, European, Brussels, Russian
Why the U.S.-China Aircraft Rivalry Is More Complicated Than It Seems
  + stars: | 2021-06-24 | by ( Jon Sindreu | ) www.wsj.com + 0.88   time to read: +1 min
The C919, a narrow-body jet produced by Chinese state-owned company Comac, is scheduled to enter service this year. This ensures that all major Chinese airlines—also government owned—will fly it, even though it likely contravenes World Trade Organization rules. The U.S. and Europe rightly worry about Comac breaking their plane duopoly, say in 20 years’ time. Last week’s Euro-American agreement calls for joint action against the “non-market practices of third parties,” including China’s practice of inviting in foreign investors only to copy their technology. Yet the West can in fact already torpedo China’s aircraft industry.
Persons: Organizations: European Union, China, Boeing, Airbus, Trade Organization Locations: U.S, Beijing, Europe, China
President Joe Biden is nominating Cindy McCain to be the U.S. representative to the United Nations Agencies for Food and Agriculture, one of 17 nominations announced Wednesday that included major diplomatic and arts assignments. McCain, the widow of Arizona Sen. John McCain, broke with Republicans and endorsed Biden for president, making her a key surrogate for the Democrat after Donald Trump spent years criticizing her husband. McCain is the chair and director of the Hensley Beverage Company, a Phoenix-based distributor of beer, wine, spirits and nonalcoholic drinks. The president is also nominating Massachusetts state Rep. Claire Cronin to be ambassador to Ireland. Jack Markell, a former Delaware governor, is being nominated to represent the U.S. to the Organization for Economic Co-operation and Development.
Persons: Joe Biden, Cindy McCain, McCain, Arizona Sen, John McCain, Biden, Donald Trump, Claire Cronin, Michael Carpenter, Jack Markell, Fiona Whelan Prine, John Prine Organizations: United Nations Agencies, Food, Agriculture, Republicans, Democrat, Hensley Beverage Company, Massachusetts, Ireland, European Union, Penn Biden Center for Diplomacy, University of Pennsylvania, Organization for Security, Cooperation, Organization for Economic Co, Development, National Council, Arts, Oh Boy Records Locations: U.S, Arizona, Phoenix, Northern Ireland, Europe, Delaware
CEE MARKETS-Crown, forint extend gains after cenbanks hike rates
  + stars: | 2021-06-24 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +4 min
PRAGUE, June 24 (Reuters) - The Czech crown and Hungarian forint extended gains on Thursday, after both the countries' central banks initiated measures towards monetary policy tightening this week, while central European stock markets also edged higher. But unlike in the Czech Republic or Hungary, Poland's central bank has so far struck a more dovish tone. The zloty trailed the crown and forint and was flat at 4.524 per euro. The crown added 0.1% to 25.345 to the euro to touch a two-week high and the forint added 0.3% to 349.60. In Hungary, the forint added to gains after the central bank also signalled its first hike would be followed by others.
Persons: Danske, ted, Jason Hovet, Anita Komuves, Alan Charlish, Rashmi Aich Organizations: Czech National Bank, National Bank of Hungary, European Union, Danske Bank, zloty, Citi, O2, CEE, PX, BUX Budapest, CRBEX, BELEX, nk Czech Locations: PRAGUE, Czech, Hungarian, Europe, Central Europe, Czech Republic, Hungary, Poland's, Budapest, Warsaw, Prague, O2 Czech Republic, PX Prague, CRBEX Zagreb, BELEX Belgrade, Sofia, Republic
Visa Buys Swedish Fintech Tink for More Than $2 Billion
  + stars: | 2021-06-24 | by ( Simon Clark | ) www.wsj.com + 0.96   time to read: +1 min
Visa Inc. agreed to pay more than $2 billion for Tink, a Swedish startup whose digital services connect more than 3,400 banks and financial institutions in Europe. The largest U.S. card network is buying the financial-technology company to establish itself in Europe’s fast-growing open banking market. The banks and financial institutions that Tink connects have more than 250 million customers in Europe. Through Tink, banks can access aggregated financial data, initiate payments, verify account ownership and build personal-finance management tools. Visa’s takeover of Tink for €1.8 billion, the equivalent of $2.15 billion, comes amid a flurry of deal activity in the fast-growing world of financial technology.
Persons: Banks Organizations: Visa Inc, U.S, European Union, JPMorgan Chase & Co, Investment Locations: Swedish, Europe, Tink
UK getting positive sausage signals from EU, minister says
  + stars: | 2021-06-24 | by ( ) www.reuters.com + 0.57   time to read: 1 min
LONDON, June 24 (Reuters) - Britain is getting some positive indications from the European Union that they accept the need for a compromise over the import of British sausages to the British province of Northern Ireland, Environment Secretary George Eustice said on Thursday. "I think we're getting some positive indications and it's always our view that it's better if we can reach agreement with the European Union on these things," Eustice said when asked about the so called "sausage war". "We're still in dialogue with the European Union about some longer term solutions on the wider issues, about export health certificates, and while those are ongoing it makes sense for them for a few more months to leave the current arrangement we have in place," he said. Reporting by Guy Faulconbridge; editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.
Persons: George Eustice, Eustice, We're, Guy Faulconbridge, Kate Holton Organizations: European Union, Thomson Locations: Britain, British, Northern Ireland
Germany's Merkel says EU should seek direct contact with Putin
  + stars: | 2021-06-24 | by ( ) www.reuters.com sentiment -0.98   time to read: +1 min
German Chancellor Angela Merkel wears her protective face mask after delivering a government declaration on the upcoming European Council meeting at the lower house of parliament Bundestag in Berlin, Germany, June 24, 2021. REUTERS/Michele TantussiBERLIN, June 24 (Reuters) - The European Union must seek to speak directly with Russian President Vladimir Putin to try and improve relations, German Chancellor Angela Merkel said on Thursday. "In my opinion, we as the European Union must also seek direct contact with Russia and the Russian president," Merkel said in what was expected to be her last speech to the Bundestag lower house of parliament. "It is not enough for the U.S. president to talk to the Russian president. I very much welcome that, but the EU must also create forums for dialogue," she added.
Persons: Angela Merkel, Michele Tantussi BERLIN, Vladimir Putin, Merkel, Thomas Escritt, Caroline Copley Organizations: REUTERS, European Union, U.S, Thomson Locations: Berlin, Germany, German, European, Russia, Russian
Can Massive Cargo Ships Use Wind to Go Green?
  + stars: | 2021-06-24 | by ( Aurora Almendral | ) www.nytimes.com + 0.00   time to read: +4 min
Higher fuel prices would encourage the use of technologies like wind propulsion as companies look for ways to save on fuel. And if fuel costs don’t rise significantly, companies may not see a compelling reason to spend on wind propulsion. If, in this context, inventors can build a successful economic case for wind propulsion — a scenario that depends on a lot going right for them — more companies could soon place orders. According to a 2016 study for the European Commission that analyzed cargo vessels’ routes, the savings from wind propulsion could, by 2030, make it economically viable for 3,700 to 10,700 existing ships. Around that time, according to the Maersk Mc-Kinney Moeller Center for Zero Carbon Shipping, ships running on zero-carbon fuels should be hitting the market in significant numbers.
Persons: organization’s, Faïg, Natasha Brown, John Kerry Organizations: International Maritime Organization, United Nations, New York Times, European Union, Marshall, Maersk, International Chamber of Shipping, European, European Commission, Maersk Mc, Kinney Moeller Center, Zero Carbon Shipping Locations: China, Brazil, Japan, India, Paris, Brussels, United States
The 19 euro zone nations follow the same monetary rules and share the same currency, but fiscal policies are still mostly decided at the national level. This is often a source of concern every time there's a crisis in the region, simply because it often takes the euro zone longer to coordinate a combined response. Berenberg analystsFor many years, Germany represented one of the most cautious euro members when it came to fiscal integration. But at the same time some countries and EU officials believed it was also the first big step toward more fiscal integration. "On the European level, all (German political) parties want to strengthen European integration — but in different ways.
Persons: Armin Laschet, Sean Gallup, Carsten Brzeski, Chancellor Angela Merkel's, Merkel, , Brzeski, Erik Jones, it's, Guntram Wolff, Bruegel Organizations: German Christian Democrats, Getty, ING, CDU, Green Party, CSU, European Commission, Johns Hopkins University, CNBC, European Union Locations: Germany, ING Germany, Eurasia
Leaders of 16 EU states call on bloc to fight LGBTI discrimination
  + stars: | 2021-06-24 | by ( ) www.reuters.com + 0.98   time to read: +1 min
People attend the "Equality Parade" rally in support of the LGBT community, in Warsaw, Poland June 19, 2021. REUTERS/Kacper PempelBERLIN, June 24 (Reuters) - Europe must fight against discrimination of the LGBTI community and defend fundamental rights, the leaders of 16 European states said in a jointly-signed letter to the heads of the European Union on Thursday. "Respect and tolerance are at the heart of the European project," the letter, addressed to EU Commission President Ursula von der Leyen and EU Council President Charles Michel, said. The European Commission will take action against Hungary over planned new restrictions on LGBT rights, the head of the bloc's executive announced on Wednesday, saying they violated fundamental EU values. read moreWriting by Caroline Copley Editing by Riham AlkousaaOur Standards: The Thomson Reuters Trust Principles.
Persons: Pempel, Ursula von der Leyen, Charles Michel, Caroline Copley, Riham Organizations: REUTERS, European Union, EU, European, Thomson Locations: Warsaw, Poland, Pempel BERLIN, Europe, Hungary
Critic of Abbas dies in Palestinian custody, U.N. demands investigation
  + stars: | 2021-06-24 | by ( ) www.reuters.com + 0.00   time to read: +4 min
Relatives of Palestinian critic Nizar Banat, who, according to officials, died while being arrested by members of Palestinian security forces, react in Hebron in the Israeli-occupied West Bank, June 24, 2021. REUTERS/Mussa QawasmaHEBRON, West Bank, June 24 (Reuters) - A Palestinian parliamentary candidate who criticised the internationally-backed Palestinian Authority died on Thursday after being arrested by PA security forces, drawing international demands for an investigation. According to relatives, Nizar Banat was severely beaten during his arrest by Palestinian security forces in Hebron overnight. Reuters contacted a spokesperson for the Palestinian Authority asking for more details of the arrest but there was no immediate reply. The Palestinian Independent Commission for Human Rights said it viewed Banat's death with "great severity" and had launched an investigation.
Persons: Nizar, Mahmoud Abbas's, Jibrin Al, Bakri, Tor Wennesland, Wennesland, Lynn Hastings, Abbas, Ali Sawafta, Nidal al, Peter Graff Organizations: West Bank, REUTERS, Palestinian, Abaas, Reuters, Banat, Palestinian Authority, United Nations, Twitter, European Union, Palestinian Independent Commission, Human Rights Locations: Hebron, HEBRON, West, Nizar Banat, Banat, Israel, Hussein Banat, , East, U.N, East Jerusalem
EU tries again to strike deal on greener farming subsidies
  + stars: | 2021-06-24 | by ( Kate Abnett | ) www.reuters.com sentiment -1.00   time to read: +2 min
Portuguese Agriculture Minister Maria do Ceu Antunes, who represents EU member states in the negotiations with European Parliament, said she was committed to striking a deal. EU auditors this week said the current CAP was failing to reduce emissions, despite spending 100 billion euros in "climate-friendly" subsidies since 2014. Parliament wanted to spend 30% of payments on eco-schemes, while EU countries proposed a binding 18% share in last month's talks. Parliament also wants guarantees that EU countries' plans for spending CAP money comply with the bloc's legally-binding climate and environment goals. The new CAP rules will take effect from 2023.
Persons: Hilaire, Stephane Mahe, Maria, Ceu Antunes, Thomas Waitz, Kate Abnett, Edmund Blair Organizations: REUTERS, European Union, Agricultural, Portuguese, EU, CAP, Thomson Locations: Saint, Chaleons, France, BRUSSELS
Climate 'law of laws' gets European Parliament's green light
  + stars: | 2021-06-24 | by ( Kate Abnett | ) www.reuters.com + 0.00   time to read: +3 min
Flags of the European Union and its member states fly in front of the building of the European Parliament in Strasbourg, France June 30, 2017. The bill sets targets to reduce net EU emissions by 55% by 2030, from 1990 levels, and eliminate net emissions by 2050. "This is the law of laws, because it will discipline us in the years to come," Frans Timmermans, head of EU climate policy, said. The climate law will guide EU regulations in the coming decades. It will include more ambitious renewable energy targets, EU carbon market reforms and tighter CO2 standards for new cars.
Persons: Jytte Guteland, Parliament's, Frans Timmermans, Kate Abnett, Barbara Lewis Organizations: European Union, REUTERS, Swedish Social, Democracy, European, EU, Thomson Locations: Strasbourg, France, BRUSSELS, EU, Swedish, Brussels
The global battle between Big Tech and regulators is on
  + stars: | 2021-06-24 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +7 min
What's happening: A House of Representatives committee just moved forward sweeping bills meant to rein in big tech companies likeand. Tech companies are lobbying hard against the US legislation, which could dramatically transform their businesses if enacted. This year's Amazon Prime Day broke recordsShoppers aren't showing any signs of getting tired of Amazon Prime Day, even though some sellers said they weren't planning to offer deals this year. The details: Prime members purchased more than 250 million items worldwide on Prime Day. Overall, online spending during the two-day event surpassed $11 billion, a 6.1% increase compared to last year's Prime Day held in October, according to Adobe Analytics.
Persons: Nicholas Hyett, Hargreaves Lansdown, Joe Biden, Lina Khan, WhatsApp, Hyett, Morgan Stanley, James Gorman, Gorman, they've, Goldman Sachs, Amazon AMZN, Nathaniel Meyersohn, Nike NKE Organizations: CNN Business, Bell, CNN, European Union, Google, Tech, Big Tech, Federal Trade Commission, Apple, Facebook, Wall, Financial Times, JPMorgan, Prime, Amazon, Adobe Analytics, Accenture, Darden, BlackBerry, FedEx, Nike Locations: London, United Kingdom, India, United States, New York, New York City, Westchester
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