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France's challenges are far from over, however, with the country facing acute fiscal challenges and an ongoing threat posed by the far-right National Rally opposition, led by Jordan Bardella and Marine Le Pen. France this week asked the Commission to extend its deadline of Sept. 20 to submit debt reduction proposals. Analysts say Barnier's political survival therefore "depends on the whims and personal-political calculations of Le Pen." "The great unknown ... is how far Le Pen will be willing to address the most immediate crisis facing Barnier and the country: the painful choices needed to prevent France from plunging into a destructive fiscal crisis by the end of this year," he said. Marine Le Pen and Jordan Bardella at the final rally before the June 9 European Parliament election, held at Le Dôme de Paris - Palais des Sports, on June 2, 2024.
Persons: La France Insoumise, Remon Haazen, Emmanuel Macron's, Michel Barnier, Jordan Bardella, Pen, Barnier's, Gabriel Attal, Sarah Meyssonnier, Reuters Barnier's, Macron —, Le, Mujtaba Rahman, France's, Eurasia Group's Rahman, Le Pen's Organizations: Republique, La, Getty, Getty Images, Veteran, National Assembly, European, France's, Reuters, New, National, Eurasia Group, Le, Palais des Sports, Nurphoto Locations: La France, Paris, France, Europe, Eurasia
Bloomberg | Bloomberg | Getty ImagesA landmark ruling from the European Union's top court means Ireland will receive 13 billion euros ($14.4 billion) in unpaid taxes from Apple — a windfall that Dublin had spent several years fighting to avoid. In a decision the European Court of Justice (ECJ) said was final, the EU's top court on Tuesday ruled that Apple must pay Ireland billions of euros in back taxes. For years, Ireland consistently argued that the iPhone maker should not have to repay unpaid taxes to the country. The decision comes at a time when Ireland is in the unusual position of running a budget surplus of several billion euros, partly due to the strength of corporate tax receipts. Shoppers and staff are seen inside the Apple Store, with its sleek modern interior design and prominent Apple logo on September 10, 2024 in Chongqing, China.
Persons: ECJ, Margrethe Vestager, Apple, Johanna Geron, Aidan Regan, there's, Simon Harris, Sir Keir Starmer, Brian Lawless, Robert Dever, Dever, Alex Cobham, Cobham, Cheng Xin Organizations: Bloomberg, Getty, Apple, Court of Justice, European Union, Reuters, Irish, University College Dublin, CNBC, Ireland's Finance Ministry, Ireland, U.S, England, Masons, Tax Justice Network, UN, Shoppers Locations: Wicklow, Dublin, Ireland, Brussels, Belgium, Farmleigh, Republic of Ireland, Chongqing, China
The EU's top court ruled Apple must pay over €13 billion in back taxes. The European Court of Justice's decision ends a decadelong legal battle with the tech giant. EU competition chief Margrethe Vestager argued Apple received unfair tax breaks from Ireland. AdvertisementThe EU's top court just dealt Apple a major blow, ruling that the tech giant must pay more than €13 billion (about $14 billion) in back taxes. The European Court of Justice (ECJ) ruled that Apple must pay the taxes to the Irish government, ending a decadelong legal battle.
Persons: Margrethe Vestager, Apple, Organizations: Apple, Service, of Justice, European Commission, Business Locations: EU, Ireland
Europe's top court on Tuesday ruled against Apple in the tech giant's 10-year court battle over its tax affairs in Ireland. The pronouncement from the European Court of Justice comes hours after Apple unveiled a swathe of new product offerings, looking to revitalize its iPhone, Apple Watch and AirPod line-ups. In 2014, the European Commission, the European Union's executive arm, opened an investigation into Apple's tax payments in Ireland, the tech giant's headquarters in the EU. Apple and Ireland appealed the Commission's decision in 2019, and in 2020 the EU General Court sided with the U.S. tech giant. The EU's second-highest court anulled the Commission's 2016 decision and said that the executive arm did not prove that the Irish government had given Apple a tax advantage.
Organizations: Apple, European Court, Apple Watch, CNBC, European, Reuters, European Commission, EU, The, Ireland, U.S Locations: Ireland, U.S, London, Dublin
European Commission how to increase European competitiveness
  + stars: | 2024-09-10 | 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 EmailEuropean Commission how to increase European competitivenessJohannes Hahn, Commissioner of Budget and Administration for the European Commission discusses support measures to increase European competitiveness, highlighting the importance of cooperation between EU member states and investing in key sectors such as quantum technologies.
Persons: Johannes Hahn Organizations: Budget, Administration, European Commission
The European Union flag is seen with Google's logo. Europe's top court on Tuesday upheld a 2.4 billion euro ($2.65 billion) fine imposed on Google for abusing its dominant position by favoring its own shopping comparison service. The fine stems from an antitrust investigation by the European Commission, the executive arm of the European Union, which concluded in 2017. Google appealed the decision with the General Court, the EU's second-highest court, which also upheld the fine. Google then brought the case before the European Court of Justice (ECJ), the EU's top court.
Organizations: European Union, Google, CNBC, European Commission, Court of Justice
The European Union has successfully avoided the "terrible prophecies" that threatened its economy in recent years, but must still contend with Russia's war in Ukraine and a tenuous trade relationship with China, outgoing European Commissioner for Economy Paolo Gentiloni said Saturday. A former prime minister of Italy, Gentiloni has served as the European Commissioner for Economy under EC President Ursula von der Leyen since December 2019. Gentiloni will not be returning for a second term as commissioner following Von der Leyen's tumultuous re-election as president — but he has laid out the economic picture that awaits his imminent successor. "The economy is growing, slowly, but growing. And the risks of differences among the European Union, that was very high when the pandemic happened, are very limited," he noted.
Persons: Paolo Gentiloni, Gentiloni, Steve Sedgwick, Ursula von der Leyen, Von der, , Russia's Organizations: European Union, Economy, European, European Central Bank, Moscow, European Commission Locations: Ukraine, China, Europe, Cernobbio, Italy's, Como, Italy
United States Steel — The industrial stock plunged 6% after Vice President Kamala Harris opposed the planned sale of United States Steel to Japan's Nippon Steel. She made these statements during a Labor Day rally in front of union members in Pittsburgh, Pennsylvania, where she said that United States Steel was "an historic American company and it is vital for our country to maintain strong American steel companies." NetApp — The data storage stock added 1.6% following an upgrade to buy from hold at Loop Capital. Loop analyst Ananda Baruah listed several catalysts, including NetApp's cloud storage software partnerships and a recent pullback. Bank of America — The bank stock was down fractionally.
Persons: Kamala Harris, Wells, Matthew Akers, Morgan Stanley, Ananda Baruah, Jefferies, Peter Welford, Warren Buffett's Berkshire, Merck's Keytruda, — CNBC's Michelle Fox, Jesse Pound Organizations: United States Steel, Japan's Nippon Steel, Labor, Boeing, Software, Novartis —, Novartis, Bank of America, Warren Buffett's Berkshire Hathaway, Merck, European Commission Locations: Pittsburgh , Pennsylvania, American, Warren
Nesmith said she had flown into Greece on Sunday, the day the wildfire initially broke out in the village of Varnavas, about 20 miles north of Athens. As the danger spread, Greece implored fellow European Union members to help respond to the blaze. “We stand with Greece as it battles devastating fires,” European Commission President Ursula von der Leyen said in a statement on X on Monday. While wildfires are common during the summertime in Greece, climate scientists have warned that unusually hot and dry weather connected to climate change can make fires more likely to ignite and spread. A satellite image shows the ongoing fire near Athens, Greece.
Persons: Nesmith, Vassilis, Ursula von der Leyen, Kikilias, Angelos Tzortzinis, Maria Sidiropoulou, Chantal Da Silva Organizations: Reuters, Officials, Volunteers, Aris Oikonomou, Getty, Union, Copernicus, NBC Locations: Greece, Varnavas, Athens, , Vrilissia, AFP, EU, Italy, France, Czechia, Romania, Chalandri, European, Libya, Stamata, London
Musk agreed with Trump that Harris was a radical leftist and flattered his guest by implying that he was strong and his Democratic opponents were weak. Like, okay, you know, President Trump is like, don’t mess with me.”Musk has already endorsed Trump, and he was leaving no doubt on Monday night that he wants to see him win a second term. Trump may not have been president without Twitter, as his emergence as a political force in 2016 coincided with the site’s heyday. “There is a lot of opposition to people just hearing what President Trump has to say,” Musk said. The Harris campaign was quick to respond, posting a Trump Truth Social post from last year that lambasted Florida Gov.
Persons: Elon Musk, Donald Trump, Kamala Harris, Joe Biden’s, , Musk, Harris, , ” Trump, baselessly, Biden, Trump, ” Musk, Kamala, , , Steven Cheung, he’d, Thierry Breton, Cheung, Ron DeSantis Organizations: CNN, Tech, Elon, Democratic, Trump, Republican, Trump —, SpaceX, Twitter, Presidential, , Musk Trump, Biden, Florida Gov, Capitol Locations: United States, European, Europe
Thierry Breton, France's European Union commissioner for internal market and consumer protection, industry, research and energy. Billed as an unscripted conversation by Musk, the Spaces session will be one of the few campaign events Trump does this week. Breton warned Musk that the EU was prepared to "make full use of our toolbox" to protect EU citizens from "serious harm." Getty Images | Getty Images News | Getty ImagesSince then, Musk has made a series of incendiary comments about the situation in the U.K. on X. Riot police officers push back anti-migration protesters outside on Aug. 4, 2024 in Rotherham, U.K. Christopher Furlong | Getty Images
Persons: Elon Musk, Tesla, Apu Gomes, Linda Yaccarino, Thierry Breton, Yaccarino, Donald Trump, Musk, Kamala Harris, Keir Starmer, Ashlea Simon, Peter Kyle, Christopher Furlong Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Getty, European, X Corp, Union, Trump, Republican, Democratic, EU's Digital Services, Digital Services, Riot, British, Britain, Times Locations: Beverly Hills , California, Europe, United Kingdom, EU, Breton, Southport , England, Southport, England, Northern Ireland, Falkland Islands, Rotherham, U.K
Read previewGuaranteed basic income is all the rage right now. Countries including India, Argentina, and Austria have tested out small-scale guaranteed job programs. Cleveland's jobs guaranteeFor Cotten, ensuring jobs for any American who needs one is a no-brainer. While many cities are testing out basic income programs, they haven't been universal and instead targeted specific groups in need like artists, new parents, low-income families, or people experiencing homelessness. Republican lawmakers have introduced bills to ban basic income programs in their states, with some arguing that handing out checks with no strings attached would disincentivize work and raise taxes.
Persons: , that's, what's, Tcherneva, Sen, Bernie Sanders, Ayanna Pressley, Devin Cotten, Cotten, Franklin Delano Roosevelt's, Sanders, Pressley, Andrew Yang —, Gerald Connolly, UBE, Lukas Lehner, Lehner, Maximilian Kasy, they're, Kasy Organizations: Service, Business, Bard College, American, Democrats, Republicans, Washington Post, Social Security, Universal, University of Oxford, European Commission, European Union Locations: Denver, Baltimore, India, Argentina, Austria, Cleveland, Virginia, Austrian, Marienthal, South Africa, United States, France
TikTok has committed to “permanently withdraw” a rewards program from the European Union after the 27-member bloc raised concerns about the feature’s potential “addictive effect,” the European Commission announced Monday. TikTok is pleased to have reached an amicable resolution.”TikTok formally agreed to withdraw the TikTok Lite Rewards program from the E.U. and committed “not to launch any other programme which would circumvent the withdrawal,” the European Commission said. has attempted to more forcefully police the conduct of Big Tech firms through laws such as the Digital Services Act and other measures. “The safety and well-being of social media users need to be a number one priority.
Persons: TikTok, , ” TikTok, , Margrethe Vestager, Thierry Breton Organizations: European Union, European Commission, Services, European, DSA, Big Tech, Digital Services, Facebook Locations: Spain, France, Danish, French
"It is likely to impact many businesses, especially those developing AI systems but also those deploying or merely using them in certain circumstances." For AI applications deemed to be "high-risk," for example, strict obligations will be introduced under the AI Act. watch nowExamples of high-risk AI systems include autonomous vehicles, medical devices, loan decisioning systems, educational scoring, and remote biometric identification systems. Generative AI is labelled in the EU AI Act as an example of "general-purpose" artificial intelligence. General-purpose AI models include, but aren't limited to, OpenAI's GPT, Google's Gemini, and Anthropic's Claude.
Persons: Dado Ruvic, Tanguy Van Overstraeten, Charlie Thompson, Appian, Thompson, Meta, OpenAI's, Google's, Anthropic's Claude, Jamil Jiva, Linedata, GDPR, Jiva Organizations: Reuters, European Commission, EU, CNBC, Microsoft, Google, Apple, Web Services, Big Tech, EMEA, Data, Facebook, Companies, AI Office, Commission Locations: Brussels, EU, Europe
European drug regulators on Friday rejected the Alzheimer's treatment Leqembi from Biogen and Eisai , creating another hurdle for the companies as they scramble to boost uptake of the therapy in the U.S. But it almost always follows the drug regulator's recommendations. The European Medicines Agency's human medicines committee recommended against granting marketing authorization for Leqembi. Leqembi and Kisunla are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease. In 2021, the European Medicines Agency rejected Aduhelm.
Persons: Eisai, Leqembi, Eli Lilly, Kisunla, Aduhelm Organizations: U.S, European Commission, U.S . Food, Drug Administration, Medicines, European Medicines Agency, Alzheimer's Locations: Biogen, U.S, Japan, South Korea, China, Israel, Europe, Alzheimer's Europe
In the game of climate change, there are both winners and losers. AdvertisementMany of these climate change "winners" are hardy, fast-breeding scavengers that already live in some of the most degraded habitats on Earth: cities. When it comes to what they eat, they aren't picky, which means they probably don't have to worry about climate change eliminating their food source. If climate change is driving a "ratpocalypse," as some evidence suggests, that could have big consequences for human health. But as climate change raises temperatures and alters precipitation trends, their range is expanding and shifting to new geographic areas.
Persons: Giovanni Strona, Shutterstock, they've, We're, , they're, They're Organizations: Service, Business, Commission's, Research Centre, Pest Control, South America, AP, CDC Locations: York, Africa, Asia, South America, South, Florida, Texas, Europe, Vermont
Delivery Hero, Glovo targeted in EU cartel investigation
  + stars: | 2024-07-23 | by ( ) www.cnbc.com   time to read: +1 min
BERLIN, GERMANY - SEPTEMBER 04: The Delivery Hero office photographed on September 04, 2020 in Berlin, Germany. (Photo by Jeremy Moeller/Getty Images)BRUSSELS - EU antitrust regulators on Tuesday launched an investigation into German online food takeaway firm Delivery hero and its Spanish unit Glovo on concerns that the two companies may have taken part in an online food delivery cartel. Delivery Hero held a minority share in Glovo in 2018 and acquired sole control in July 2022. "The Commission is concerned that, before the takeover, Delivery Hero and Glovo may have allocated geographic markets and shared commercially sensitive information," the EU watchdog said. "Online food delivery is a fast-growing sector, where we must protect competition," EU antitrust chief Margrethe Vestager said in a statement.
Persons: Jeremy Moeller, Margrethe Vestager Organizations: Getty, European, EU Locations: BERLIN, GERMANY, Berlin, Germany, BRUSSELS, Glovo
“I can say that all member states, with one single exception, were very much critical about this behavior,” he added. “European Union policy is not a pro-war policy. Borrell’s decision comes after European Council President Charles Michel firmly hit back at Orbán’s claim that the EU has led a “pro-war policy” in a letter published last week. “Russia is the aggressor and Ukraine is the victim exercising its legitimate right to self-defense. Russia is leading a war of aggression in blatant violation of international law, Ukraine’s territorial integrity and sovereignty in accordance with the UN Charter,” Michel wrote.
Persons: Viktor Orbán, ” Borrell, , , ” Borrel, Putin, Borrell’s, Charles Michel, ” Michel, Orbán, Vladimir Putin, Xi Jinping, Donald Trump, Orban, Ursula von der Leyen, ” Orban, Niamh Kennedy, James Frater, Amy Cassidy, Jennifer Hansler Organizations: London CNN, European Union, Union, European, EU, UN, Ukraine “, CNN Locations: Budapest, Brussels, Hungary, Ukraine, Hungary’s, Hungarian, Russia, Moscow, Beijing, Florida
“Together we will make our allies share in the burden of securing world peace,” he said at the Republican National Convention in Milwaukee. “I think whoever wins the US race… it will be more America first,” Belgium’s Prime Minister Alexander De Croo told CNN. Europe needs to take care of its defense more.”Danish Prime Minister Mette Frederiksen argues Europe stepping up its commitment to its own security has nothing to do with the US. “We have to be more capable of defending ourselves, with a more and more aggressive Russia, not only when it comes to Ukraine,” she told CNN. Preserving European unity is critical to a long-lasting peace, he said.
Persons: JD Vance, , Vance, Donald Trump, Alexander De Croo, ” Finland’s, Alexander Stubb, , Sen, Will Lanzoni, Mette Frederiksen, Keir Starmer, Viktor Orban, Vladimir Putin, ” Orban, Ursula von der Leyen, Volodymyr Zelensky, Organizations: CNN, Republican, Republican National Convention, Munich, NATO, Trump, European Commission, EU, Ukraine Locations: Blenheim, Milwaukee, Ohio, Ukraine, Oxfordshire, Europe, States, Danish, Russia, Hungarian, Moscow, Ukrainian
EU Commission head von der Leyen elected for second term
  + stars: | 2024-07-18 | by ( ) www.cnbc.com   time to read: +2 min
Ursula von der Leyen reacts after being chosen President of the European Commission for a second term, at the European Parliament in Strasbourg, France, July 18, 2024. European Commission President Ursula von der Leyen was elected for a second term on Thursday after pledging to create a continental "defence union" and stay the course on Europe's green transition while cushioning its burden on industry. It will decide whether we shape our own future or let it be shaped by events or by others," von der Leyen said ahead of a secret ballot on her candidacy. Von der Leyen, a centre-right former German defence minister, pledged to create "a true European Defence Union", with flagship projects on air and cyber defence. Von der Leyen also promised a raft of climate policies including a legally-binding EU target to cut emissions 90% by 2040, compared to 1990 levels.
Persons: Ursula von der Leyen, von der, von der Leyen, Von der, Von der Leyen, Viktor Orban's, Vladimir Putin, Donald Trump Organizations: European Commission, Green, Russia, European Defence Union, Hungarian, Defence, NATO, U.S Locations: Strasbourg, France, Ukraine, Moscow, Europe, United States
After a pandemic, a cost-of-living crisis and a major war in Europe, not many feel nostalgia for the past five years. Ursula von der Leyen soon might. On Thursday, Ms. von der Leyen, the president of the European Commission, secured European Parliament approval to lead the European Union’s executive branch for a second five-year term. With the war in Ukraine in its third year and the prospect of a second Trump administration looming, the world is becoming a very different place from the one Ms. von der Leyen has helped the European Union navigate since 2019. A German conservative politician, Ms. von der Leyen was confirmed after a decisive approval vote at the Parliament on Thursday.
Persons: Ursula von der Leyen, von der Leyen, messier, Trump Organizations: European Commission, European Union Locations: Europe, European, Ukraine, E.U
CNN —Ursula von der Leyen has been reelected to a second five-year term as president of the European Commission after a vote by EU lawmakers, as the continent’s mainstream seeks to reassert itself in the face of a resurgent far right. After a secret ballot, von der Leyen was reelected with 401 votes in favor and 284 against. Addressing the parliament before the lunchtime vote, von der Leyen said the next five years of her term “will define Europe’s place in the world for the next five decades. Von der Leyen was reelected after 401 EU lawmakers voted in favor of her presidency. Johannes Simon/Getty ImagesEarlier Thursday, von der Leyen published a 31-page policy proposal, setting out her priorities if she won a second term.
Persons: Ursula von der Leyen, von der Leyen, Von der Leyen, ” Von der, Angela Merkel, Emmanuel Macron –, Von der, Johannes Simon, Getty, ” Von der Leyen, Donald Trump, Viktor Orban’s, Vladimir Putin, Organizations: CNN, European Commission, EU, European Defense Union ”, European People’s Party, EPP, Socialist, Green, European Defense Union, Ukraine, Covid Locations: Strasbourg, France, Ukraine, Brussels, Europe, United States, Hungarian, Moscow
The decision by the General Court in Luxembourg gives new momentum to critics of Ursula von der Leyen, the president of the European Commission, who led the bloc’s response to the pandemic. It came just ahead of what is expected to be a tight vote on Thursday that will determine if she will serve another term as the European Union’s top official. The European Union has refused to disclose the terms of the contracts it secured for Covid-19 vaccines, publishing redacted purchasing agreements. Green members of the European Parliament and private individuals had sued the commission, the bloc’s executive arm, seeking to gain access to the contracts and terms it negotiated with vaccine manufacturers. The court also said that the commission should have disclosed conflicts of interests by members of the team who negotiated the purchase of the vaccines.
Persons: Ursula von der Leyen, Organizations: European Commission, European Union, Covid, Green Locations: Luxembourg
The US is still coming to grips with the assassination attempt on former President Donald Trump. In today's big story, we examine the scrutiny the Secret Service is facing and what former special agents are saying about the tragedy . But that's not to say the Secret Service has avoided controversy over the last 40-plus years since the Reagan shooting. Secret Service agents converge on former President Donald Trump onstage at his Pennsylvania campaign rally. AdvertisementUltimately, another former Secret Service agent said the entire event represents a failure for Trump's security detail , BI's Matthew Loh and Cameron Manley report.
Persons: , Donald Trump, Jenny Chang, Rodriguez, Joe Biden, Insider's Brent D, Griffiths, Katherine Tangalakis, Lauren Edmonds, Saturday, Ronald Reagan, that's, Reagan, Brent, Jabin, Thomas Matthew Crooks, BI's Rebecca Rommen, Crooks, BI's Laura Italiano, Kenneth Niemeyer, Matthew Loh, Cameron Manley, Trump, Corey Comperatore, Kirill Kudryavtsev, Yuriy Gorodnichenko, Goldman Sachs, Michael M, Tyler Le, Jensen Huang, Elon Musk, Sam Altman's, Altman, Rebecca Zisser, Mickey Mouse, Hannah Montana, David, Nvidia's Goliath, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Jack Sommers, Annie Smith, Amanda Yen Organizations: Service, Business, Secret Service, Washington, Getty, FBI, UC Berkeley, NDR, Nvidia, Elon, European, Swedish, Disney, YouTube, GOP, Convention Locations: Colombia, Pennsylvania, Trump, Russia, New York, London
Elon Musk's X is in breach of EU online content rules as the social media platform uses "dark patterns" to deceive users, the European Commission said Friday. The body's preliminary view, published Friday, is that the platform has broken rules regarding dark patterns, advertising transparency and data access for researchers. X's use of the blue checkmark for "verified accounts" does not correspond to industry practices as anyone can subscribe and obtain a verified status, the commission said. It added that there was evidence of "motivated malicious actors" abusing the verified status to deceive users. If the commission's views are confirmed, X could face a fine of up to 6% of its global annual turnover.
Persons: Elon Musk, Elon Musk's, Thierry Breton Organizations: SpaceX, Tesla, European Commission, Digital Services Locations: Beverly Hills , California
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