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Washington CNN —Microsoft will no longer sell its Teams collaboration software as a bundled product with its Office 365 suite anywhere in the world, the company said Monday, in the face of antitrust concerns. The decision to separate Teams from Office globally extends a previous announcement last year affecting only the European Union. And it comes after rivals such as Salesforce’s Slack complained in 2020 that Microsoft’s practices were a form of anticompetitive self-dealing. Slack’s complaint led to a European Commission antitrust investigation of Microsoft that is still ongoing. Monday’s announcement appears aimed at allaying some of those concerns, allowing customers worldwide to buy Microsoft’s Office software without Teams included and the ability to buy Teams as a standalone product for business customers.
Persons: Salesforce’s Slack Organizations: Washington CNN, Microsoft, European Union, Economic, European Locations: Switzerland
Russia's central bank says it has few alternatives other than the Chinese yuan as a key reserve asset. "These factors predetermine the key role of the Chinese yuan in the formation of reserve assets," it said. AdvertisementA state of increasing isolationRussia's increasing reliance on the yuan shows its economy is becoming increasingly isolated in the international trade and finance system. Moscow's reliance on the Chinese yuan comes with risks. Russian companies that borrow in the Chinese yuan are facing increased lending costs, Bloomberg reported last month.
Persons: , Vladimir Putin, SWIFT Organizations: Service, Central Bank of Russia, Bloomberg Locations: Russia, Russian, Ukraine, India, China, Moscow, EU
SOFIA, Bulgaria (AP) — Romania and Bulgaria partially joined Europe’s ID-check-free travel zone on Sunday, marking a new step in the two countries’ integration with the European Union. After years of negotiations to join the Schengen area, there is now free access for travelers arriving by air or sea from both countries. The Schengen Area was established in 1985. Before Bulgaria and Romania’s admission, it was comprised of 23 of the 27 EU member countries, along with Switzerland, Norway, Iceland and Liechtenstein. Truck drivers are frequently stuck in kilometers-long queues at the borders of both Romania and Bulgaria.
Persons: Ursula von der Leyen, Siegfried Muresan, , Marcel Ciolacu, ” Kalin, , ___ McGrath Organizations: , European Union, EU, Schengen, Associated Press, European Commission, The Union of International Carriers Locations: SOFIA, Bulgaria, — Romania, Austria, Switzerland, Norway, Iceland, Liechtenstein, Romania, Croatia, Romanian, Europe, Sofia, The, Sighisoara
BELGRADE (Reuters) - Serbian President Aleksandar Vucic on Saturday nominated his close ally Milos Vucevic to be prime minister and to lead a new government through a time of war in Europe and tensions with Kosovo. The nomination comes more than three months after their party, the Serbian Progressive Party (SNS), won the most votes in a national election on Dec. 17. Vucevic took over leadership of the party after Vucic stepped down last year. "I propose to parliament Milos Vucevic as candidate for prime minister of Serbia," Vucic wrote on Instagram. A lawyer by profession, Vucevic was deputy prime minister and defence minister in the government of his predecessor Ana Brnabic.
Persons: Aleksandar Vucic, Milos Vucevic, Vucevic, Vucic, Ana Brnabic, Ivana Sekularac, Giles Elgood Organizations: BELGRADE, Reuters, Serbian Progressive Party, SNS, Socialists, Hungarians, European Union, EU, United Nations, Moscow Locations: Serbian, Europe, Kosovo, Serbia, Russia, China, Ukraine
Read previewBeing a whistleblower was antithetical to everything Pav Gill had done during his nine-year stint as a corporate lawyer. When Wirecard headhunted the Singaporean native to be its head of legal, Gill took up the position enthusiastically. Despite the fruitful outcome, the experience of being a whistleblower traumatized Gill. AdvertisementThis realization was the driving force behind Gill setting up his startup — Confide — a platform for 'internal whistleblowers' to raise issues within their organizations. AdvertisementGill anticipates that this model will work best for companies with over 50 employees, and ideally above 250 employees.
Persons: , Pav Gill, Gill, foraying, Wirecard, Gill's, don't, " Gill, they're Organizations: Service, Allen, Business, Financial, Directive, EU Locations: Wirecard, Asia, Singapore, ESG
Wild brown bear populations across Europe have bounced back from the brink of extinction, and animal conservationists are thrilled. Some countries are arguing that law lies too far in the bears’ favor at the expense of human lives. Several European Union (EU) countries who are in favor of watering down bear protections are now taking their fight to the bloc’s headquarters in Brussels. How to deal with bear attacks have been on the political agenda of some of the EU’s 27 member countries for years. But some people argue that there are more humane ways to prevent bear attacks.
Persons: CNN —, Liptovský Mikuláš, John Linnell, , , Dominika Zarzycka, ” Linnell, “ It’s, Robin Rigg, Bruno, there’s, Linnell Organizations: CNN, Authorities, European Union, EU Environment Council, Norwegian Institute for Nature Research, , Getty, Slovak Wildlife Society, EU Locations: Slovakian, Liptovský, Slovakia, Europe, Brussels, Romania, Finland, EU’s, attractants, Germany, Italy, Hungary, Spain, Ireland, Malta, Cyprus, Japan
Read previewRussia's foreign minister accused Armenia, a former ally, of "distorting history" in an effort to "break off" relations with Moscow. Last month, it said it had "frozen our participation" in the Russia-led Collective Security Treaty Organization (CSTO). The Collective Security Treaty Organization is considered Russia's equivalent to NATO , and Russian President Vladimir Putin hoped it could rival the Western military alliance. Advertisement"The Collective Security Treaty has not fulfilled its objectives as far as Armenia is concerned, particularly in 2021 and 2022. While tensions between Aremnia and Russia are clearly strained, experts on Russia and former Soviet Union countries say that relations between Russia and other CSTO members are also under pressure.
Persons: , Vladimir Putin, Sergey Lavrov, Lavrov, Nikol Pashinyan, Putin, Pashinyan, Jens Stoltenberg, Stoltenberg's Organizations: Service, Security, Organization, NATO, Business, Russian, Ukraine's Kyiv, Russian Federation, Soviet Locations: Armenia, Moscow, Russia, Soviet Union, Azerbaijan, Ukraine, France, South Caucasus, Central Asia, Aremnia
A BYD Co. Atto 3 electric sport utility vehicle (SUV) on day two of the Geneva International Motor Show in Geneva, Switzerland, on Tuesday, Feb. 27, 2024. China-made electric vehicles will make up more than a quarter of the EV sales in Europe this year, with the country's share increasing by over 5% from a year earlier, according to a new policy analysis. While most EVs sold in the EU are from Western brands such as Tesla, which manufactures and ships EVs from China, Chinese brands alone are set to account for 11% of the region's market in 2024. The findings come as the European Commission probes subsidies given to electric vehicle makers in China to determine if they unfairly undercut local companies. Non-Chinese brands that ship from China, such as Tesla and BMW, could be included in the ongoing subsidy investigation.
Persons: Tu Le Organizations: Geneva, European Federation for Transport, European Commission, BMW, Sino Locations: Geneva, Switzerland, China, Europe, France, Spain
The oversupply of Chinese goods in key industries is stoking tensions between the world’s biggest manufacturer and its major trading partners, including the United States and the European Union. From clothes to carsChina’s exports of low-priced goods got a boost after it joined the World Trade Organization (WTO) in 2001. “What China exports is advanced production capacity that meets the needs of foreign customers,” Xinhua News Agency wrote. US President Joe Biden recently pledged to investigate whether imports of Chinese vehicles pose a national security threat. “But perhaps more importantly, persistent oversupply and low prices of Chinese goods will add to geopolitical tensions and keep the threat of tariffs and counter-tariffs alive,” she wrote in a recent note.
Persons: Hong Kong CNN —, ” Jens Eskelund, Xi Jinping, Huang Jingwen, ” Eskelund, Brad W, ” Markus W, Voigt, China’s BYD, Warren Buffett, Setser, Li Qiang, , , Joe Biden, Jennifer McKeown, Shawn Deng Organizations: Hong Kong CNN, European Union, European Union Chamber of Commerce, Zero, of, People, China’s National Bureau of Statistics, Council, Foreign Relations, World Trade Organization, Aream Group, Tesla, Getty, China Development Forum, Xinhua, Agency, ., EV, European Commission, WTO, Capital Economics Locations: Hong Kong, United States, China, Europe, Beijing, Xinhua, China's Shandong, . Washington, Brussels
BEIJING (AP) — Xiaomi, a well-known maker of smart consumer electronics in China, is joining the country's booming but crowded market for electric cars. The tech company will start taking orders for the SU7, a sporty four-door sedan, following a launch event with founder Lei Jun in Beijing on Thursday evening. Government subsides have helped make China the world's largest market for electric vehicles, and a bevy of new makers are locked in fierce competition. "I believe that one day, Xiaomi EVs will be a familiar sight on roads around the world,” he was quoted as saying in a company news release. “China is determined to dominate the future of the auto market, including by using unfair practices,” President Joe Biden said when the U.S. investigation was announced.
Persons: , Lei Jun, Lei, Xiaomi, Le, , automaking, , ” Le, Joe Biden, I’m Organizations: BEIJING, Analysts, Fitch, Sino, Insights, EU, U.S, Trade Organization, U.S . Defense Department, U.S . Locations: China, Beijing, American, U.S
Berlin CNN —For old-school connoisseurs of the automobile — usually men — driving means operating a beloved vehicle by touch, with three pedals underfoot and a shift stick at hand. Paul Hockenos Hayyan Al-YousoufIn Europe, this clientele is responsible for a good deal of the moaning about manual transmission’s demise. Well, Zen or not, the day of manual transmissions is speeding to an end — and this layman is shedding no tears. For one, the oft-repeated benefits of a stick shift over an automatic have been redundant now for years. The explanation: automatics select the right gear for the vehicle, usually the highest gear possible.
Persons: Paul Hockenos, , Paul Hockenos Hayyan, Mercedes Benz, upshift, ’ ”, Sigmund Freud, it’s, Robert M, It’s, , , Cristine Organizations: CNN, Berlin CNN, Porsche, BMW, Volkswagen, Swiss, Neue Zürcher, Art, Environmental Protection Agency, International Energy Agency, Toyota Locations: Berlin, Europe, New Berlin, Yousouf, Germany, New York, San Francisco, Oslo, Norway
"As it is negotiated today, it is a very bad deal, for you and for us," Macron told businessmen in Sao Paulo while on a three-day trip to Latin America's largest economy, amid troubled talks over a free trade deal between the two economic blocs. "There is nothing that takes into consideration the subject of biodiversity and climate; nothing," Macron said. "Let's forge a new deal in light of our goals and reality, a trade deal that is responsible on development, climate and biodiversity." "It's true we lost an opportunity at the end of last year, but we should not give up on this deal." At upcoming G20 and COP summits in Brazil, Macron said he planned to push for more international standards to financially incentivize banks, firms and investors to decarbonize industrial processes and better preserve the environment.
Persons: Sarah Morland, Emmanuel Macron, Macron, Fernando Haddad, Haddad, Luiz Inacio Lula da Silva, Lula, Jair Bolsonaro, Eduardo Simoes, Jonathan Oatis, Kylie Madry, Kim Coghill Organizations: Reuters, European Union, South American Mercosur, Brazilian Finance Locations: Brazil, Sao Paulo, France, Africa, Mexico City
Apple's iPhone shipments in China have fallen again, government data show. Apple shipped roughly 2.4 million smartphones in February — a 33% drop from 2023, per Bloomberg. AdvertisementThe latest iPhone data out of China imply Apple's still having a tough time in one of its biggest markets. Counterpoint Research, in its report released in early March, estimated that iPhone sales in China had dropped by 24% in the first six weeks of the year. "In essence, Apple needs China, and China needs Apple."
Persons: , Apple's, That's, it's, Dan Ives, Nicole Peng, Peng, Tim Cook, Ives Organizations: Apple, Bloomberg, Huawei, Service, China Academy of Information, Communications Technology, Counterpoint Research, Wedbush Securities, EU, China, Forum, CCP, Business Locations: China, Shanghai, Beijing
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe EU probe into Big Tech companies is 'effectively noise', says Deepwater's Gene MunsterGene Munster, Deepwater Asset Management managing partner, joins 'Squawk Box' to discuss the EU's investigation into Apple, Alphabet and Meta under the new 'Digital Markets Act' tech legislation, the potential impact on the Big Tech companies, Apple's stock performance, and more.
Persons: Deepwater's Gene Munster Gene Munster Organizations: EU, Big Tech, Deepwater Asset Management, Apple
Hong Kong CNN —New Zealand has joined the United States and the United Kingdom in accusing China of launching “malicious” cyberattacks through state-backed hackers, as Beijing comes under growing scrutiny in a big election year for democracies around the world. The Chinese embassy in London dismissed the claims as “completely unfounded” and “malicious slander,” calling the sanctions “outright political manipulation.”“China is a major victim of cyberattacks. We have firmly fought and stopped all kinds of malicious cyber activities in accordance with the law, and have never encouraged, supported or condoned cyberattacks,” the embassy said, reiterating Beijing’s long-held stance on the matter. Australia and the European Union has also expressed solidarity with the UK and voiced concerns over China’s alleged malicious cyber activities. Without naming China, the EU said it would continue to monitor and address malicious cyber activities and stand ready to take further action when necessary.
Persons: Judith Collins, , Zealand’s, ” Collins, Wang Xiaolong, Winston Peters, ” Peters, Penny Wong, Clare O’Neil Organizations: Hong Kong CNN —, United, New, UK, Parliamentary, Office, Parliamentary Service, New Zealand, Wellington, European Union, Australia’s Foreign, Home Affairs, Inter, Parliamentary Alliance Locations: Hong Kong, Zealand, United States, United Kingdom, China, Beijing, New Zealand, London, PRC, Australia, EU, Canada
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU investigations into Apple, Meta and Alphabet explainedThe European Commission has opened probes into Apple, Meta and Alphabet under a sweeping tech regulation known as the Digital Markets Act. CNBC's Arjun Kharpal explains exactly what the EU is investigating and what could happen next.
Persons: CNBC's Arjun Kharpal Organizations: Apple, Commission, Digital
The farmers were protesting anything from what they see as excessive red tape to increased environmental measures, cheap imports and unfair trading practices. “Let us make a living from our profession,” read one billboard on a huge tractor blocking a main thoroughfare. Environmentalists and climate activists say the change in EU policies under the duress of protesting farmers is regrettable. Photos You Should See View All 60 ImagesPolitically, the bloc has moved to the right over the past year. The plight of farmers has become a rallying cry for populists and conservatives who claim EU climate and farm policies are little more than bureaucratic bungling from elitist politicians who have lost any feeling for soil and land.
Persons: Organizations: European Union, Belgian, EU, European Commission Locations: BRUSSELS, Brussels, Finland, Greece, Poland, Ireland
All of this has given rise to climate adaptation, a sector that aims to mitigate against and adapt to the risks associated with climate change. For James Brennan and Navjit Sagoo, two of the scientists behind climate risk analytics startup Climate X, it is imperative that adaption efforts go hand in hand with those working to curb rising temperatures. Indeed, Bank of America analysts predicted the climate adaptation industry would be worth $2 trillion a year by 2026. Climate X made its calculations based on the UN's Intergovernmental Panel on Climate Change's RCP8.5 scenario, which has been deemed to be a "very high" baseline for emissions. Mike Segar/ReutersAll hands on deckThe need for climate adaptation is clear but often overlooked until an extreme weather event occurs, according to Landesman and Chaudhury.
Persons: , James Brennan, Navjit Sagoo, Abrar Chaudhury, Autarc, Bill Gates, Tucker Landesman, Helge Jørgensen, Mike Segar, Brennan, Sagoo Organizations: Service, Business, Bank of America, Climate, X, Deloitte, University of Oxford's, Business School, New York Times, New, London, Fabian Society, Tech, Breakthrough Energy Ventures, Goldman Sachs, Management, Air, International Institute for Environment, Development Locations: London, New York City, New York, California, Autarc , Massachusetts, Medellin, Colombia, Europe, PitchBook, Mamaroneck, Westchester County , New York, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalter Isaacson: The law says you can't use market dominance to then dominate an adjacent fieldWalter Isaacson, Perella Weinberg advisory partner and ‘Elon Musk’ author, joins 'Squawk Box' to discuss the EU's investigation into Big Tech, the comparison to Standard Oil, impact on markets, and more.
Persons: Walter Isaacson, Perella Weinberg, ‘ Elon Musk Organizations: Big Tech
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's business model is intact & unlikely to be materially impacted by regulation: Toni SacconaghiToni Sacconaghi, Bernstein senior research analyst, joins 'Squawk Box' to discuss EU's probe into Big Tech companies, the DOJ's antitrust lawsuit into Apple, what it means for Apple going forward, and more.
Persons: Toni Sacconaghi Toni Sacconaghi, Bernstein Organizations: Big Tech, Apple
Apple under regulatory pressure: Here's what you need to know
  + stars: | 2024-03-25 | 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 EmailApple under regulatory pressure: Here's what you need to knowDoug Melamed, Stanford University law professor, joins 'Squawk on the Street' to discuss whether the U.S. and EU should be more coordinated with antitrust law, how Europe handles antitrust legislation, and what the U.S. is trying to accomplish by suing Apple.
Persons: Doug Melamed Organizations: Apple, Stanford University Locations: U.S, Europe
London CNN —The European Union has launched investigations into Apple, Google and Facebook parent Meta on suspicion that they are failing to comply with a new landmark European law designed to promote competition in digital services. The European Commission said it “suspects” that various practices by all three companies “fall short of effective compliance” with the Digital Markets Act (DMA), which went into effect earlier this month. If the probes find a “lack of full compliance,” they could face “heavy fines,” said European Commissioner Thierry Breton. The practices the European Commission is investigating include what it calls Meta’s “pay or consent” approach. Last October, Meta (META) launched a subscription 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.
Persons: , , Thierry Breton, Elon Musk’s, Meta’s, Meta’s ‘ Organizations: London CNN, European Union, Apple, Google, European Commission, Digital Markets, Microsoft, Commission, Meta, Facebook, CNN
EU launches investigation into Meta, Apple and Alphabet
  + stars: | 2024-03-25 | 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 launches investigation into Meta, Apple and AlphabetCNBC's Deirdre Bosa reports on the formal investigations into top tech companies from the European Union.
Persons: Deirdre Bosa Organizations: EU, Meta, Apple, European Union
(Photo by Dursun Aydemir/Anadolu Agency via Getty Images)The first two probes focus on Alphabet and Apple and relate to so-called "anti-steering rules." The European Union on Monday opened an investigation into Apple , Alphabet and Meta , in its first probe under the sweeping new Digital Markets Act tech legislation. "The way that Apple and Alphabet's implemented the DMA rules on anti-steering seems to be at odds with the letter of the law. Apple and Alphabet will still charge various recurring fees, and still limit steering," EU competition chief Margrethe Vestager said during a press conference on Monday. "We're confident our plan complies with the DMA, and we'll continue to constructively engage with the European Commission as they conduct their investigations.
Persons: Margrethe Vestager, Dursun Aydemir, Apple, Oliver Bethell Organizations: European Commission, Anadolu Agency, Getty, Digital Markets, Google, European Union, Apple, Markets, CNBC Locations: Europe, Brussels, Belgium
CNN —Prime Minister Leo Varadkar sent shockwaves through Ireland when he candidly announced last week that he was “no longer the best person” to lead his country. Irish Times political correspondent Jennifer Bray was given less than an hour’s notice of the surprise statement from the taoiseach on Wednesday. His successor, largely tipped to be Higher Education Minister Simon Harris, will need to lead the center-right political party, Fine Gael, against a fired-up opposition. The 37-year-old who rose to prominence during his spell as health minister during the pandemic is considered by many to be a “mirror image” to Varadkar, Murphy said. Mary Lou McDonald, president of opposition party Sinn Fein, which has been making steady gains since 2020.
Persons: Leo Varadkar, Ireland’s, Varadkar, Joe Biden, Jennifer Bray, Bray, ” Gary Murphy, , ” Murphy, , Simon Harris, Murphy, Varadkar “, Boris Johnson “, resoundingly, Nick Bradshaw, Paschal Donohoe, Harris, Tik Tok, “ Simon Harris, ” Bray, Mary Lou McDonald, Sinn Fein, Charles McQuillan, Sinn Féin Organizations: CNN —, Israel, Irish Times, Wednesday, CNN, Dublin City University, Higher Education, Fine Gael, Irish, Catholic Church Locations: shockwaves, Ireland, Gaza, Irish, Brussels, United Kingdom, Bray, Varadkar
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