DIRS.INFO The most relevant business & tech news

☆ Starmer pledges to ‘reset’ Britain as Labour takes over after 14 years of Conservative rule
▼ + stars: | 2024-07-05 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +10 min

London CNN —The Labour Party has won a landslide victory in the UK general election, sweeping into power after 14 years of Conservative rule on the back of a wave of public disillusionment. Addressing the nation from outside 10 Downing Street for the first time as prime minister, Starmer had one overarching message: Change starts now. There were high-profile casualties, with the short-lived former Prime Minister Liz Truss and several cabinet ministers being booted out by voters. Conservative leader and, as of Friday morning, former Prime Minister Rishi Sunak took responsibility for the electoral wipeout, apologizing to voters in his farewell address. Leaving the palace as the newly minted prime minister, he then headed straight to Downing Street.

Persons: Keir Starmer, King Charles III, Starmer, ”, Liz Truss, Rishi Sunak, Sunak, “, Akshata Murty, Nigel Farage, Donald Trump, Farage, Sinn Féin, Clodagh Kilcoyne, Rachel Reeves, Angela Rayner, David Lammy, Yvette Cooper, Jeremy Corbyn, Yui Mok, Tony Blair, Starmer –, –, Israel “, David Cameron, Brexit –, Boris Johnson Organizations: London CNN, Labour Party, Conservative Party, Labour, Conservative, Downing, British, Conservatives, Liberal, Lib Dems, Reform UK, Green Party, Scottish National Party, Irish, Democratic Unionist Party, DUP, Reuters Government, Home, Tories, European Union Locations: British, United Kingdom, Buckingham, Scotland, Northern Ireland, Ireland, Westminster, Starmer, Gaza, Britain, Europe, United States, Ukraine

☆ Keir Starmer must fix Britain’s economic mess after UK election win
▼ + stars: | 2024-07-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —British voters have handed the Labour Party its first election victory in almost two decades, hoping that a new center-left government will revive Britain’s ailing economy and fix collapsing public services. The win is a triumph for Keir Starmer, a former chief prosecutor who only entered parliament in 2015 and will become prime minister later Friday. “It feels good, I have to be honest.”But Labour’s jubilation may soon give way to trepidation given the economic challenges ahead. Making these problems even harder to solve: stubbornly low economic growth. To some extent, the government is likely hoping economic growth will be stronger than forecast and help with both goals.

Persons: Conservative Party —, Keir Starmer, ”, ” Gregory Thwaites, ” ‘, “, Paul Johnson, —, Dominic Lipinski, Johnson, Louise Hellem, Rachel Reeves, Stefan Rousseau, ” Brexit Organizations: London CNN — British, Labour Party, Conservative Party, National Health Service, Universal Credit, CNN, Labour, for Fiscal Studies, Bloomberg, Getty, Wealth Fund, Great, Great British Energy, “, Confederation of Business Industry, Conservative, Shadow, AP, European Union, Trade Locations: England, Scotland, Wales, Selby, UK, Great British, Britain, Southampton, United States

☆ Putin's Hungarian ally Orban draws EU ire over 'peace mission' to Moscow
▼ + stars: | 2024-07-05 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Russia's President Vladimir Putin meets with Hungary's Prime Minister Viktor Orban at the Kremlin in Moscow on July 5, 2024. Russia's closest European ally, Hungarian Prime Minister Viktor Orban, has drawn ire from the EU over his Friday trip to meet Kremlin leader Vladimir Putin in Moscow. Orban's trip to Moscow has also drawn the wrath of European officials, who questioned his authority to represent the bloc. Also referencing Orban's visit, European Commission President Ursula von der Leyen warned that "appeasement will not stop Putin. Only unity and determination will pave the path to a comprehensive, just and lasting peace in Ukraine."

Persons: Vladimir Putin, Viktor Orban, Orban, Putin, Volodymyr Zelenskyy, Zelenskyy, " Orban, Josep Borrell, Ursula von der Leyen, Donald Trump Organizations: Hungary's, Kremlin, EU, NATO, Reuters, Ukrainian Foreign Ministry Locations: Moscow, Russia's, Hungarian, Ukraine, Hungary, Russia, Europe, Brussels, EU

People celebrate exit poll results at a "Stop The Tories" election afterparty in London, on July 4. Last month’s European elections saw a historic number of lawmakers from hard-right and far-right parties elected to the European Parliament. Farage’s political success to date has all come without him holding a parliamentary seat. It is possible that Farage’s splitting of the right has actually helped Starmer increase his majority in parliament. An odd quirk of British politics is that the percentage of votes a party gets doesn’t necessarily translate to seats.

Persons: Suzanne Plunkett, Emmanuel Macron, Benito Mussolini, Euroskepticism, Nigel Farage, Donald Trump, Keir Starmer, Starmer’s, Farage, Starmer Organizations: United, Labour Party, Parliament, European, Conservative Party, Reform, Conservatives, Labour Locations: London, Europe, Netherlands, Italy, Britain, British

People celebrate exit poll results at a "Stop The Tories" election afterparty in London, on July 4. Suzanne Plunkett/ReutersThe United Kingdom’s decision to hand the center-left Labour Party a parliamentary majority, according to the exit poll, comes at the same time Europe is broadly in the grip of what some call a right-wing populist surge. Last month’s European elections saw a historic number of lawmakers from hard-right and far-right parties elected to the European Parliament. Farage’s political success to date has all come without him holding a parliamentary seat. An odd quirk of British politics is that the percentage of votes a party gets doesn’t necessarily translate to seats.

☆ As Europe turns right, why is a center-left party projected to win by a landslide in the UK?
▼ + stars: | 2024-07-04 | by ( Luke Mcgee | ) edition.cnn.com time to read: +3 min

Last month’s European elections saw a historic number of lawmakers from hard-right and far-right parties elected to the European Parliament. Italy is led by the most right-wing leader since the rule of fascist wartime leader Benito Mussolini. Reform UK party leader Nigel Farage speaks to the crowd of supporters on July 3 in Clacton-on-Sea, England. Farage’s political success to date has all come without him holding a parliamentary seat. It is possible that Farage’s splitting of the right has actually helped Starmer increase his majority in parliament.

Persons: Emmanuel Macron, Benito Mussolini, Euroskepticism, Nigel Farage, Dan Kitwood, Donald Trump, Keir Starmer, Starmer’s, Farage, Starmer Organizations: CNN, Labour Party, Parliament, European, Conservative Party, Reform, Conservatives, Labour Locations: Europe, Netherlands, Italy, Britain, British, Clacton, England

☆ Who is Jordan Bardella and what might his far-right party do in power?
▼ + stars: | 2024-07-04 | by ( Christian Edwards | ) edition.cnn.com time to read: +11 min

Handpicked as leader by National Rally (RN) doyenne Marine Le Pen in an effort to purge the far-right party of its racist and antisemitic roots, Bardella has taken it closer to the gates of power than ever before. Whether the RN forms a government and Bardella becomes prime minister after the July 7 runoff is not clear. So, who is Bardella, and what might his party do in power? Le Pen and Bardella address a crowd of RN supporters in Paris, after Macron called a snap election, June 9, 2024. When the prime minister and president belong to different parties – in a rare arrangement known as “cohabitation” – things can grind to a halt.

Persons: CNN — Jordan, –, Bardella, Emmanuel Macron’s, France’s, Denis, Le Pen, Le Pen’s, Louis Aliot, Le, Macron, Julien De Rosa, Freed, Jean, Marie Le Pen, Franco, Paris Anne Hidalgo, Luc Mélenchon, ” Bardella, Julien de Rosa, Gabriel Attal, ” Mujtaba Rahman, Mario Draghi, Giorgia Meloni, Benito Mussolini, Matteo Salvini, Vladimir Putin, Antonio Masiello, Hungary’s Viktor Orban –, Macron – Organizations: CNN, National Rally, National Assembly, Front, Sorbonne university, Getty, Macron’s Ensemble, Immigrants, Ministry of, Armed Forces, New Popular Front, EU, Eurasia Group, European Union Locations: Paris, France, Europe, Seine, Macron, AFP, Vichy, Spanish, Brussels, Italy, Ukraine, Kyiv, Russia

☆ Who is Labour's Keir Starmer, the likely new leader of Britain?
▼ + stars: | 2024-07-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Labour leader Keir Starmer visits Burton and South Derbyshire College on June 27, 2024 in Burton upon Trent, United Kingdom. Cameron Smith | Getty Images News | Getty ImagesLONDON — Britain looks likely to elect its first Labour prime minister in 14 years, with an expected landslide victory for the opposition party during the July 4 elections. CNBC takes a look at the U.K.'s new prime minister and his platform. watch nowStarmer also served as a human rights adviser during former Labour Prime Minister Tony Blair's landmark Northern Ireland Good Friday Agreement. Labour leader Keir Starmer gives a speech as he visits the Vale Inn on June 27, 2024 in Macclesfield, United Kingdom.

Persons: Keir Starmer, Cameron Smith, Rishi Sunak, Starmer, —, Margaret Thatcher's, Tony Blair's, Jeremy Corbyn, Reform's Nigel Farage Organizations: South Derbyshire College, Getty, Labour, CNBC, British, National Health Service, University of Leeds, University of Oxford, Shell, Conservative, Northern, Service, Wealth Fund Locations: Burton, Burton upon Trent, United Kingdom, Britain, London, England, Victoria, Macclesfield

☆ China hopes to reach a solution with the EU on EV tariffs 'as soon as possible'
▼ + stars: | 2024-07-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Employees work on the assembly line of electric vehicles in a digital automotive factory of Jiangling Motors on May 17, 2024. BEIJING — China hopes to reach an agreement with the European Union soon on the bloc's planned tariffs for imported Chinese electric cars, the Ministry of Commerce said Thursday. The European Commission announced in mid-June that if discussions with China did not go well, the bloc would start to impose additional duties on imported Chinese EVs on Thursday, July 4. "Definitive measures" would take effect four months after that date, according to a press release. He reiterated China's opposition to the European Union's anti-subsidy probe and pointed out the two sides still have a four-month window.

Persons: Yadong Organizations: Jiangling Motors, European Union, Ministry of Commerce, European Commission, Commerce Ministry, CNBC Locations: Jiangling, BEIJING, China

☆ EU tariffs on China EVs: 'Real hit' will be on state-owned carmakers, analyst says
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU tariffs on China EVs: 'Real hit' will be on state-owned carmakers, analyst saysJacob Gunter of the Mercator Institute for China Studies discusses the likely impact of provisional and "definitive" EU tariffs on China's electric vehicle industry.

Persons: Jacob Gunter Organizations: Mercator Institute for China Studies Locations: China

☆ Chinese EV firms will come up with novel ways to enter Western markets
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese EV manufacturers might set up European companies in order to enter the Western marketsVivek Vaidya of Frost & Sullivan says the EU has dug themselves into a hole with its EV-friendly policies and that tariffs are only a temporary measure while Chinese EV companies come up with new strategies to enter the markets.

Persons: Vivek Vaidya, Sullivan Organizations: Frost, EU, EV

☆ 'We don't do God' and massive ad spends: How UK election races differ from American ones
▼ + stars: | 2024-07-04 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +12 min

Here are a handful of them:1) CampaignsBy the time a presidential election takes place in the United States, the electorate will have already endured months of seemingly endless electioneering — with the entire election campaign process from candidacies and the campaign trail to the actual presidential election and inauguration taking up to two years. In the U.K., the time frame between a prime minister calling a general election to the actual vote is just six weeks. It sounds simple, and usually is, unless there's a "hung parliament" in which no political party wins a majority of seats. In the U.K., political advertising on TV and radio is not allowed, so U.K. voters are subjected to the somewhat quaint "party political broadcasts" during election campaigns. 6) 'Absurd' diversionsBritish political experts note that, unlike in the U.S., where broad political debates tend to remain the key focus, U.K. election campaigns can see more minor or fringe issues dominate the short election campaign.

Persons: Rishi Sunak, Joe Biden, Paul Ellis, Sir Keir Starmer, Stefan Rousseau, Bobby Duffy, Donald Trump, Tom Brenner, —, Britain's, Tony Blair, Alastair Campbell, Ben Curtis, Blair, Dan Stevens, Joe Biden's, Trump, Brian Snyder, Keir Starmer, Institute's Duffy, Duffy, Biden, Rodin Eckenroth, Rodin, John Curtice, it's, Ludovic Marin Organizations: Britain's, North Atlantic Council, NATO, South Derbyshire College, Trent, Commons, King's College London, CNBC, Brit, Republicans, U.S, Federal, Former U.S, Republican, Reuters, Electoral Commission, Inverness Royal Academy, Labour, of, Exeter University, Trump . Democratic Party, Reuters Incumbent British, Labour Party, Trump, European, Conservative Party, U.K, UK Ministry of Defence, Royal British, Afp, Getty Locations: Vilnius, Lithuania, United States, Burton, U.S, Britain, Philadelphia, Great Britain, England, Wales, Scotland, British, America, Western Europe, Atlanta , Georgia, Hollywood , California, European Union, Normandy, Ver, Gold, France

☆ Analyst discusses China EVs tariffs, compares EU and U.S. approaches
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina EV tariffs: Europe has a very different perspective from U.S. on security risks, analyst saysJoseph Webster, senior fellow at the Atlantic Council's Global Energy Center, says Europe is "much more amenable to investment from China in the electric vehicle segment."

Persons: Joseph Webster Organizations: China, Atlantic Council's Global Energy Center Locations: Europe, China

☆ Germany blocks sale of VW gas turbine business to China
▼ + stars: | 2024-07-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London/Berlin CNN —Germany has blocked the sale of a Volkswagen subsidiary to China on national security grounds, delivering a fresh blow to the already tense relationship with its biggest trading partner. MAN Energy Solutions, part of the Volkswagen Group, said in June 2023 that it planned to sell its gas turbines business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT). But a German government review, initiated in September, raised concerns that China might use the gas turbines to power warships, according to Reuters. In November 2022, Germany blocked the sale of one of its semiconductor factories to a Chinese-owned tech company, also citing security concerns. “(We) will now initiate a structured process to close-down the gas turbine division, which will take place over the coming months,” the company added in a statement shared with CNN.

Persons: Robert Habeck, ”, Nancy Faeser Organizations: Berlin CNN —, Volkswagen, MAN Energy Solutions, Volkswagen Group, GH Gas Turbine Co, Reuters, European Union, Ukraine —, China’s Ministry of Foreign Affairs, CNN Locations: Berlin, Berlin CNN — Germany, China, Beijing, Germany, Russia, Ukraine

☆ China's Xi greets EU Council president ahead of EV tariffs taking effect
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: +1 min

China's President Xi Jinping made a congratulatory call on Thursday to incoming European Council President Antonio Costa, Chinese state media said, a few hours before European Commission curbs on Chinese electric cars are scheduled to take effect. China's President Xi Jinping made a congratulatory call on Thursday to incoming European Council President Antonio Costa, Chinese state media said, a few hours before European Commission curbs on Chinese electric cars are scheduled to take effect. The Commission is set to confirm provisional import tariffs of up to 37.6% on Chinese-manufactured electric vehicles, after the bloc accused the world's No.2 economy of providing its firms with heavy state subsidies. Xi said he "attaches great importance to the development of China-EU relations" as Europe braces for retaliatory measures from Beijing and the possible opening up of a new front in the West's tariff war with the $18.6 trillion economy. EU trade policy has turned increasingly protective over concerns that China's production-focused development model could see it flooded with cheap goods as Chinese firms look to step up exports amid weak domestic demand.

Persons: Xi Jinping, Antonio Costa, Xi Locations: China, Beijing

☆ China's BYD opens EV factory in Thailand, first in Southeast Asia
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: +2 min

China's BYD opens its first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market, in Rayong, Thailand, July 4, 2024. China's BYD opened an electric vehicle plant in Thailand on Thursday, the automaker's first factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player. "Thailand has a clear EV vision and is entering a new era of auto manufacturing," BYD CEO and President Wang Chuanfu said at the opening ceremony. The BYD plant is part of a wave of investment worth more than $1.44 billion from Chinese EV makers who are setting up factories in Thailand, helped by government subsidies and tax incentives. Other EV rivals in the local market include Great Wall Motor, which also has a production facility in Thailand, and U.S. automaker Tesla.

Persons: China's BYD, Wang Chuanfu, Narit Therdsteerasukdi, Liu Xueliang, Tesla Organizations: EV, HK, Toyota Motor, Honda Motor Co, Isuzu Motors, ASEAN, Thailand's, of Investment, European, BYD's, BYD's Asia Pacific, BYD, U.S Locations: Southeast Asia, Rayong, Thailand, China, Hong Kong, BYD, Hungary, BYD's China, BYD's Asia

☆ China-built EVs hit with EU tariffs; Nio says it may have to raise prices in Europe
▼ + stars: | 2024-07-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

The EU's decision comes at a time when Chinese automakers have been aggressively expanding into Europe with competitively priced offerings, posing a threat to the region's top automakers, many of which have lagged behind in EVs. It did not comment on whether it would end up raising prices as a result of the levies. When the EU first announced the tariffs last month, Tesla said it will likely increase the Europe prices of its Model 3 vehicle. The EU has yet to say what specific level of tariffs Tesla will face, but noted last month that the U.S. automaker "may receive an individually calculated duty rate." watch nowChinese and EU officials have held several rounds of meetings to discuss the tariffs, with Beijing in June criticizing the EU's imposition of tariffs as a "protectionist act."

Persons: Nio, Xpeng, Tesla, Yadong Organizations: Union, European Commission, European Union, Automakers, EV, CNBC, EU, U.S ., Commerce Ministry Locations: China, Shanghai, Europe, EVs, Beijing

☆ Elon Musk and Tesla are on the rise after a brutal start to the year
▼ + stars: | 2024-07-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, a tough sales report for Tesla can't slow the EV maker's turnaround . After a dreadful start to the year, the EV maker has been running on all cylinders on a full charge. Tesla's polarizing CEO also notched a massive victory when investors approved Elon Musk's $55 billion pay plan . But what is new at Tesla, and what sparked the company's recent market rally, are big promises from its CEO. As automakers reconsider their EV strategy , Tesla has figured out how to build cars cheaper than anyone else .

Persons: —, I'm, Tesla, Jordan Strauss, Chelsea Jia Feng, Insider's Nora Naughton, BI's Filip De Mott, hasn't, Karol Serewis, Musk's, Nora, it's, he's, Musk, Apu Gomes, Steve Cohen's Point72, Ken Griffin's, Mark O'Hare, Larry Fink, execs, Marc Benioff, trouncing, It's, Jenny Chang, Rodriguez, they've, Morgan Stanley, Beryl, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, Chelsea, Wall, Elon Musk's, Getty Images, Getty, Ken Griffin's Citadel, BlackRock, EU, Google, YouTube Locations: Wick, Jamaica, New York, London

☆ London-based NatCap helps companies manage their nature risk. Check out the 10-slide pitch deck it used to raise $10 million.
▼ + stars: | 2024-07-03 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewNatCap, a UK startup that helps businesses understand their sustainability risks, has raised $10 million in Series A funding. The startup provides businesses with a tech platform to help them understand their risks and opportunities regarding natural issues, from water risk to biodiversity. This story is available exclusively to Business Insider subscribers. NatCap CEO Sebastian Leape told Business Insider that a "culture change" in recent years meant sustainability issues were "now top of mind" for businesses.

Persons: —, Sebastian Leape, André Hoffmann, David Craig, Leape Organizations: Service, Oxford University, Business, Sustainable Finance, Tesco, Carbon, Norinchukin, Yeo Ventures, Pelican, Oxford Science Enterprises Locations: Europe, Japan

☆ Viktor Orban, Putin’s greatest European ally, makes first trip to Kyiv since start of war
▼ + stars: | 2024-07-02 | by ( Luke Mcgee | ) edition.cnn.com time to read: +5 min

According to Zhovkva, Kyiv’s number one tool to end hostilities is through a second peace summit, which Ukraine is already preparing for. “We are saying that Ukraine will draft its peace plan, a roadmap for establishing peace in Ukraine. Orban also stated his desire to improve relations between Budapest and Kyiv, which have been strained by the Hungarian leader’s close relationship with Putin. Tuesday’s meeting comes as Orban and Hungary take control of the EU Council’s rotating presidency, which changes every six months. The agenda for that event is expected to be dominated by long-term plans to support Ukraine and conversations about its eventual accession to the alliance.

Persons: Viktor Orban, Volodymyr Zelensky, ”, Zelensky, Orban, Vladimir Putin, “, ” Orban, Ihor Zhovkva, Orban “, ” Zelensky, Emmanuel Macron’s, Zhovkva, Putin, Donald Trump’s, Zoltan Fischer Organizations: CNN, Russian Federation, United, EU, White, NATO, Political Locations: Hungarian, Kyiv, Moscow, Ukraine, Hungary, Russian, Budapest, Russia, United Nations, Crimea, Tuesday’s, Washington , DC, Ukrainian, United Kingdom

☆ Investors just got an inflation wakeup call. Will they answer?
▼ + stars: | 2024-07-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Inflation rates in Canada, the EU and Australia have popped higher in recent months. But that disconnect appears to be fading as inflation rates in the US continue to ease. The US also had a recent scare as inflation rates ticked higher. But after a year of the Fed holding interest rates steady at a 23-year high, inflation rates in the United States are once again declining. High inflation readings around the globe are concerning investors, José Torres, senior economist at Interactive Brokers, told CNN.

Persons: ”, Brent Schutte, Schutte, José Torres, Torres, payrolls, Chewy, Keith Gill, Krystal Hur, Gill, Ryan Cohen, Jordan Valinsky, CSSE Organizations: CNN Business, Bell, New York CNN, EU, Federal, Federal Reserve, Bank of Canada, Northwestern Mutual Wealth Management, Interactive Brokers, CNN, Investors, Bank for International, BIS, Securities, Exchange, GameStop, Soul Entertainment, BBC, Sony Pictures, Walmart, Walgreens, Apollo Global Management, Sony, Netflix Locations: New York, Canada, Australia, United States, Europe, Redbox

☆ Hungary’s Prime Minister Orban — a key Putin ally — makes first wartime visit to Ukraine
▼ + stars: | 2024-07-02 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Hungarian Prime Minister Viktor Orban (L) talks with Ukrainian President Volodymyr Zelenskyy (R) in the Europa building prior the start of the meeting on June 27, 2024, in Brussels, Belgium. Hungarian Prime Minister Viktor Orban arrived in Ukraine on Tuesday for his first wartime visit to the battle-torn country. Orban, meanwhile, communicated Hungary's intentions to improve ties with Ukraine and sign a broad bilateral cooperation agreement, while urging Zelenskyy to consider a quick cease-fire to accelerate peace talks, Reuters reported. Orban absented from last month's Ukraine Peace Summit in Switzerland, where Hungary was instead represented by Foreign Minister Peter Szijjarto. The Hungarian prime minister has also been one of the few Western leaders to meet the increasingly isolated Kremlin leader Putin since Russia's full-scale invasion of Ukraine.

Persons: Viktor Orban, Volodymyr Zelenskyy, Orban, Zelenskyy, Vladimir Putin, Orban's, " Orban, Orban absented, Peter Szijjarto, Putin, Donald Trump, Jens Stoltenberg Organizations: European Union, Kyiv, Ukrainian, Reuters, nonmember Kyiv, Ukraine Peace Summit, Foreign, Associated Press, NATO Locations: Europa, Brussels, Belgium, Hungarian, Ukraine, Hungary, Moldova, Switzerland

☆ Greece becomes first EU country to introduce a six-day working week
▼ + stars: | 2024-07-02 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

A church in Anafiotika neighborhood, a part of the old historical neighborhood called Plaka, in Athens, Greece on March 16th, 2024. Greece has controversially introduced a six-day working week for some businesses in a bid to boost productivity and employment in the southern European country. The regulation, which came into force on July 1, bucks a global trend of companies exploring a shorter working week. The change means a traditional 40-hour workweek could be extended to 48 hours per week for some businesses. Food service and tourism workers are not included in the six-day working week initiative.

Persons: Kyriakos Mitsotakis Organizations: Labor, CNBC Locations: Anafiotika, Athens, Greece, London

☆ Meta accused of breaking European law with its ‘pay or consent’ model
▼ + stars: | 2024-07-01 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +1 min

London CNN —Facebook parent Meta has been accused of breaking Europe’s new digital competition rules over its “pay or consent” advertising model. Late last year, Meta (META) launched a service called “Subscription for no ads,” allowing European users of Facebook and Instagram to pay up to €12.99 ($14) a month for ad-free versions. The alternative is to accept versions with personalized ads. “’Subscription for no ads’ follows the direction of the highest court in Europe and complies with the DMA,” a Meta company spokesperson told CNN. “We look forward to further constructive dialogue with the European Commission to bring this investigation to a close.”This is a developing story and will be updated.

Organizations: London CNN, Facebook, Meta, European Commission, Digital Markets, CNN Locations: Europe

☆ Crypto firm Circle gets approval to issue stablecoin in EU under bloc’s strict rules
▼ + stars: | 2024-07-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

In this article USDC.CM= Follow your favorite stocks CREATE FREE ACCOUNTLaunched in 2018 by crypto firm Circle, USDC is now the second-biggest stablecoin globally, with more than $30 billion worth of tokens in circulation. The company said it is also opening up its Circle Mint, which allows businesses to mint and redeem Circle stablecoins, in France. That's because according to MiCA, crypto businesses are able to offer their services in one EU country and "passport" them out into other markets within the bloc. After that point, crypto companies will have until July 2026 to become fully compliant with MiCA. Launched in September 2018 by Circle and crypto exchange Coinbase, USDC is now the second-biggest stablecoin globally, with $32.4 billion worth of tokens in circulation, according to CoinGecko data.

Persons: Circle, it's, Prudentiel, Jeremy Allaire, Allaire, cryptocurrencies, stablecoins, USDT Organizations: Getty, EMI, Union's, U.S ., Investors, European Union, Circle Locations: France, Crypto, U.S, European

Search resuls for: "Eu"

25 mentions found