DIRS.INFO The most relevant business & tech news

BERLIN, March 24 (Reuters) - Germany's transport minister on Friday said he was optimistic a dispute between Berlin and Brussels over the future of combustion engine cars running on e-fuels was close to resolution, though some questions still needed clarifying. The original law would effectively ban registration of combustion engine cars after 2035, but Germany seeks an exemption for cars that run exclusively on climate-neutral e-fuel and legal assurances from the Commission. In a letter to the Commission seen by Reuters on Friday, Germany's transport ministry welcomed the EU executive's proposals but asked for legislation to ensure its implementation. Berlin's demand for an exemption had "now been answered by the EU Commission with a letter that makes me optimistic," German Transport Minister Volker Wissing told a news conference on Friday. The European Commission declined to comment on the latest proposals.

☆ War on cow farts is stinky but necessary job
▼ + stars: | 2023-03-24 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Yet, governments from New Zealand to Europe are zeroing in on livestock, whose burps and farts help generate 15% of global greenhouse gas emissions each year, United Nations estimates show. An industry backlash against plans to tackle the issue will teach punters to treat burgers as polluting fuel. Cattle is a major contributor to methane emissions from agriculture, which hit 142 metric tons in 2022, triple the amount of those from the oil sector, according to the International Energy Agency. But like fossil fuels ten years ago, this will be the start of a long but necessary battle. French dairy company Danone on Jan. 17 pledged to reduce methane emissions from its fresh milk supply chain by 30% by 2030 from its 2020 level.

☆ War on cow gas is stinky but necessary job in climate-change struggle
▼ + stars: | 2023-03-24 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Yet, governments from New Zealand to Europe are zeroing in on livestock, whose burps and farts help generate 15% of global greenhouse gas emissions each year, United Nations estimates show. Cattle is a major contributor to methane emissions from agriculture, which hit 142 metric tons in 2022, triple the amount of those from the oil sector, according to the International Energy Agency. But like fossil fuels ten years ago, this will be the start of a long but necessary battle. CONTEXT NEWSEuropean Union countries agreed on March 16 to try to reduce the number of farms covered by proposed rules to cut pollution and greenhouse gas emissions from livestock. French dairy company Danone on Jan. 17 pledged to reduce methane emissions from its fresh milk supply chain by 30% by 2030 from its 2020 level.

☆ NATO ally Hungary throws Putin a lifeline, saying it won't arrest him despite ICC warrant tied to Ukraine war
▼ + stars: | 2023-03-23 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +3 min

Hungary signaled it would not arrest Putin if he visited even though the ICC issued an arrest warrant. Hungary is an ICC member, but said that under Hungarian law it can't arrest Putin. "The ICC's statute has not been promulgated in Hungary," Gulyas said, adding that his government hasn't yet formed a stance on the arrest warrant for Putin. States Parties to the Rome Statute have a legal obligation to cooperate fully with the ICC," according to the ICC. Though the US is not an ICC member and does not recognize the court's jurisdiction, President Joe Biden said the arrest warrant for Putin was "justified."

Neither of the two contentious issues is on the official summit agenda and some EU diplomats said they hope to avoid a formal debate on them. EU leaders take decisions unanimously, meaning one country can block a deal. Escalating the car CO2 debate to leaders would therefore be pointless, one EU diplomat said on condition of anonymity. A German government official said on Wednesday the talks were "very constructive", but that the issue would not be addressed at the EU summit. ENERGY REFORMSOn the second day of the summit on Friday, EU heads of state and government will discuss a reform of the EU electricity market.

BRUSSELS, March 20 (Reuters) - European Union countries on Monday agreed a 2 billion euro plan to send 1 million artillery rounds to Ukraine over the next year by digging into their own stockpiles and teaming up to buy more shells. The joint procurement will be limited to companies from the EU and Norway, which has close economic ties to the bloc. Some EU governments wanted the initiative to be open to a broader market, arguing this would help get munitions more quickly to Ukraine. But others said EU money should go to EU companies and insisted they would have capacity to meet demand. German Defence Minister Boris Pistorius, whose country is taking part in the joint procurement initiative, described it as "new territory" for the EU.

☆ Putin meets 'dear friend' Xi in Kremlin as Ukraine war grinds on
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +6 min

[1/5] Russian President Vladimir Putin shakes hands with Chinese President Xi Jinping during a meeting at the Kremlin in Moscow, Russia, March 20, 2023. Putin and Xi greeted one another as "dear friend" when they met in the Kremlin on Monday, and Russian state news agencies later reported they held informal talks for nearly 4-1/2 hours, with more official talks scheduled for Tuesday. In televised comments, Putin told Xi he viewed China's proposals for resolution of the Ukraine conflict with respect. Xi, for his part, praised Putin and predicted Russians would re-elect him next year. Putin signed a "no limits" partnership with Xi last year shortly before the Kremlin leader ordered the invasion of Ukraine.

☆ Ukraine war: Russia tightens ties with China as West offers $16 bln lifeline to Kyiv
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +5 min

A joint statement included familiar accusations against the West - that the United States was undermining global stability and NATO barging into the Asia-Pacific region. Putin praised Xi for a peace plan for Ukraine that he proposed last month and blamed Kyiv and the West for rejecting it. But Xi, who was due to depart Moscow on Wednesday, barely mentioned the conflict, saying that China had an "impartial position" on it. The money would help shore up Ukraine, which has suffered extensive damage to its infrastructure and economy during Russia's year-long invasion. [1/16] Russian President Vladimir Putin and Chinese President Xi Jinping leave after a reception in honor of the Chinese leader's visit to Moscow, at the Kremlin in Moscow, Russia March 21, 2023.

☆ Putin to welcome Xi to Moscow under shadow of Ukraine war
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +5 min

[1/3] Chinese President Xi Jinping and Russian President Vladimir Putin attend a ceremony dedicated to the 70th anniversary of the establishment of diplomatic relations between Russia and China, in Bolshoi Theatre in Moscow, Russia June 5, 2019. Sergei Ilnitsky/Pool via ReutersMarch 20 (Reuters) - Russian President Vladimir Putin will expect Chinese President Xi Jinping to show solidarity against western hegemony when he arrives in Moscow on Monday, while Xi will present China as a global peacemaker intent on brokering an end to the Ukraine war. And Ukrainian President Volodymyr Zelenskiy has previously made clear he will accept nothing short of Russia's full withdrawal from Ukrainian territory. We welcome China's willingness to play a constructive role in resolving the crisis," Putin said. Ukrainian forces have held out in Bakhmut since last summer in the longest and bloodiest battle of the year-long war.

☆ EU to move towards joint buying of shells for Ukraine, says official
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] 155mm artillery shells are seen during the manufacturing process at the Scranton Army Ammunition Plant in Scranton, Pennsylvania, U.S., February 16, 2023. REUTERS/Brendan McDermidBRUSSELS, March 17 (Reuters) - A number of European Union countries are expected to sign a "Project Arrangement" on joint procurement of 155 mm artillery shells for Ukraine on Monday, a senior EU official said on Friday. "(The Project Arrangement) is the basis for the European Defense Agency and its member states to move on, ... basically the terms of reference that are the legal basis to move on." The official could not confirm how many countries would sign, but said they were "quite confident to see many signatures on Monday", adding the project was open to all EU members plus Norway and countries would be able to join it at any time. Reporting by Andrew Gray and Bart Meijer; Writing by Charlotte Van Campenhout; Editing by Andrew Cawthorne and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Female entrepreneurs’ glass ceiling is intact
▼ + stars: | 2023-03-08 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, March 8 (Reuters Breakingviews) - The glass ceiling that holds back female entrepreneurs remains intact. Yet despite representing 40% of new business founders in the United States, female entrepreneurs capture only a fraction of available venture capital cash. A tendency by venture capital funds to shun female entrepreneurs risks hobbling their contribution to the global economy. Helping female entrepreneurs to rise to the top will be beneficial to women and to the world. In 2021, female entrepreneurs made up 40% of total in the United States, data from the Kauffman Foundation shows.

BRUSSELS/ZURICH, March 7 (Reuters) - Swiss fragrance and flavour maker Givaudan (GIVN.S) said on Tuesday that it was being investigated by European Union and Swiss antitrust authorities after the EU announced earlier it had raided several companies on concerns of a cartel in the supply of fragrances and fragrance ingredients. "I can confirm that we are part of an industry-wide investigation by European and Swiss authorities. When presented with evidence of wrongdoing, the bloc's rules allow the EU antitrust enforcer to enter company offices, examine and take copies of records related to the business, as well as question staff. The EU competition enforcer said it had been in contact with the U.S. Department of Justice and competition agencies in Britain and Switzerland and that the raids were conducted in consultation with them. Companies face fines as much as 10% of their global turnover for violating EU antitrust rules.

But EU countries still need to rubber stamp the decision before it can take effect. EU countries' ambassadors on Friday cancelled the vote that had been planned for March 7, the spokesperson for Sweden said. Italy, which has previously said it will vote against the EU cars law, on Friday welcomed the postponement of the vote. Such an outcome, along with some resistance from Italy and some eastern European countries, could throw the whole EU ban into question. European Commission President Ursula von der Leyen will attend a German cabinet meeting at the Schloss Meseberg palace on Sunday, where the topic is likely to be discussed.

☆ Germany, Italy Signal They Could Block EU Combustion-Engine Ban
▼ + stars: | 2023-03-01 | by ( Kim Mackrael | William Boston | ) www.wsj.com time to read: 1 min

The auto industry employs 3.4 million people in the European Union. A group of large European Union countries is threatening to block a plan by Brussels to effectively ban the internal combustion engine, endangering the bloc’s ambitious agenda to combat climate change. Germany and Italy said this week they could block the plan’s formal approval at crucial meetings this week and next. Berlin said it would oppose the plan unless Brussels agrees to allow so-called synthetic fuels that can burn like gasoline and diesel but spew fewer climate-damaging emissions alongside fully electric vehicles.

Despite relief measures, energy prices in February were 19.1% higher on the year, while food prices were 21.8% higher, it said. The first one was driven by energy prices and the second one by material inputs, which are not ebbing. While energy prices were keeping headline inflation high, wage growth will show its impact in core inflation, which will remain stubbornly high, Brzeski said. "Hence, a stepdown to a 25bp pace of hikes could be delayed, which would also push the terminal rate higher." "The interest rate step announced for March will not be the last," Nagel said in a speech.

☆ Swiss regulator investigates 12 banks in Lebanese central banker corruption case
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Feb 27 (Reuters) - Switzerland's financial regulator has investigated 12 banks and launched enforcement proceedings against two of them in relation to corruption charges against longtime central banker Riad Salameh, it said on Monday. Lebanese authorities charged Salameh, his brother Raja and one of his assistants on Thursday with money laundering, embezzlement and illicit enrichment after months of delay in the high-profile case. The Swiss Financial Market Supervisory Authority (FINMA) on Monday said it has investigated 12 banks in relation to allegations of money laundering linked to the case. FINMA declined to comment on the nature of the enforcement proceedings in this case, or the banks involved. The Salameh brothers are alleged to have transferred $330 million to Swiss accounts via the offshore company Forry Associates, which is registered in the British Virgin Islands, Swiss newspaper SonntagsZeitung newspaper reported.

☆ EU still has not agreed on anniversary Russia sanctions, more talks Thurs - sources
▼ + stars: | 2023-02-22 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +2 min

It would also bar more EU exports to Russia of tech equipment and spare parts Moscow might use on the battlefield. "There are several issues outstanding, including on rubber and reporting obligations," said one of the sources, who all spoke under condition of anonymity due to the confidentiality of the negotiations between EU countries. More talks among Brussels representatives of EU members were due on Thursday afternoon, said the sources. NO NUCLEAR, DIAMONDSTaken all together, the sanctions against Russia would be the toughest the bloc has ever imposed. So that's why we hope that we will see these sanctions in the tenth package, otherwise, maybe in the next packages."

☆ German EU-harmonised consumer prices up 9.2% y/y in January
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 22 (Reuters) - German consumer prices, harmonised to compare with other European Union countries, rose by 9.2% on the year in January, data from the federal statistics office showed on Wednesday. Compared with December, prices increased by 0.5%, it added, confirming preliminary data on both a monthly and annual basis. According to non-harmonised standards, German consumer prices rose 8.7% on the year in January and 1.0% on the month. "Following a slowdown at the end of last year, the inflation rate thus remains at a high level," said Ruth Brand, president of the German statistics office. Energy product prices were 23.1% higher year-on-year despite government relief measures, while food prices increased 20.3% on year.

☆ German inflation remains high at start of year
▼ + stars: | 2023-02-22 | by ( Maria Martinez | ) www.reuters.com time to read: +2 min

Compared with December, prices increased by 0.5%, it added, confirming preliminary data on both a monthly and annual basis. "Following a slowdown at the end of last year, the inflation rate thus remains at a high level," said Ruth Brand, president of the German statistics office. Excluding energy prices, the inflation rate stood at 7.2% in January. "The rate of food price increase thus was more than twice the overall inflation rate again," the statistics office said. Prices of goods were up 12.7% on year in January and services prices increased 4.5% on year.

SummarySummary Companies Ministry plans for low-carbon power systemAims for 80% green power in 2030Will prepare tenders to attract stable capacityFRANKFURT, Feb 20 (Reuters) - Germany will do most of the work this year to prepare its power market for greater reliance on renewable supplies by the end of the decade, Economy Minister Robert Habeck said on Monday. "We will do most of the necessary work in 2023," he said at a consultation meeting on power market reform. To back up swings in green power as more reliable nuclear and coal production is phased out, the government will prepare tenders for gas-fired power capacity, Habeck said. A further challenge will be the simultaneous increase in demand for power to run electric cars and heat pumps. Germany's plan could set it apart from some other European Union countries holding on to more stable sources of power, said Habeck.

☆ Germany to speed up power market reform in 2023, minister says
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 20 (Reuters) - Germany will do most of the work this year to prepare its power market for greater reliance on renewable supplies by the end of the decade, Economy Minister Robert Habeck said on Monday. "We will do most of the necessary work in 2023," he said at a consultation meeting on power market reform. To back up swings in green power as more reliable nuclear and coal production is phased out, the government will prepare tenders for gas-fired power capacity, Habeck said. Habeck said the government was working on the assumption that national power usage would reach 700-750 TWh by the end of the decade. Germany's plan may set it apart from some other European Union countries that may hold on to more stable sources of power, said Habeck.

The debate - which focuses on hydrogen produced from nuclear or renewable energy - has already delayed negotiations on new EU renewable energy targets and threatened a multi-billion-euro hydrogen pipeline. Some EU officials fear it could spill into other green energy policies, potentially delaying laws needed to meet EU climate targets. "There are outstanding obstacles, but they will be resolved," EU foreign policy chief Josep Borrell said of the climate conclusions on Monday, without specifying what the obstacles were. A draft of the conclusions, seen by Reuters, said: "EU energy diplomacy will promote the increasing uptake and system integration of renewable energy, hydrogen and its derivatives." They says they acknowledge nuclear's low-carbon contribution, but that it should not be put on a level footing with renewable energy sources like wind and solar.

☆ 'Digital nomads' can now live in Spain with their families — if they earn enough
▼ + stars: | 2023-02-19 | by ( Chris Dwyer | ) www.cnbc.com time to read: +5 min

The so-called "digital nomad" visa is open to a wide variety of remote workers and has already attracted considerable interest. U.S. Google searches for "digital nomad visa Spain" spiked by 66% in late January, according to digital marketing specialists Semrush. Fernando Angulo (pictured here in Colombia) said he's lived in many countries as a "digital nomad," including Russia, Argentina and India. Source: Zach BoyetteZach Boyette, co-founder of the digital marketing agency Galactic Fed, called Spain's digital nomad visa a "game changer." Boyette, a longtime digital nomad, said the visa allows digital nomads to "spend a longer time in Europe," he said.

☆ Ola plans $920 mln India investment in electric cars, batteries
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

CHENNAI, Feb 18 (Reuters) - SoftBank Group-backed (9984.T) Ola Electric would invest $920 million in the southern Indian state of Tamil Nadu to manufacture electric cars and batteries for electric vehicles (EVs), a state government statement said on Saturday. Ola will invest 76.14 billion rupees ($920 million) through its subsidiaries Ola Electric Technologies and Ola Cell Technologies, drawn to the growing demand for EVs in India. The company's cumulative production numbers topped 100,000 in November, and it plans to annually make 140,000 cars and hire 3,111 workers in Tamil Nadu through the new investment. In September, Ola said it was looking to expand into Latin America, ASEAN and European Union countries after entering India's neighbour Nepal first. ($1 = 82.7500 Indian rupees)Reporting by Praveen Paramasivam in Chennai; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Following a pattern of heavy bombardments after Ukrainian battlefield or diplomatic gains, Russia launched 36 missiles in the early hours, Ukraine's Air Force said. The Russian missiles triggered air-raid sirens and landed across Ukraine, including at the Kremenchuk refinery, where the extent of damage was unclear. Ukraine said the barrage included three KH-31 missiles and one Oniks anti-ship cruise missile, which its air defences cannot shoot down. [1/6] Ukrainian servicemen of the 80th Air Assault Brigade fire M119 Howitzer artillery weapon towards Russian troops, amid Russia's attack on Ukraine, near Bahmut, Donetsk region, Ukraine, February 16, 2023. Its capture would give Russia a stepping stone to advance on two bigger Donetsk cities further west, Kramatorsk and Sloviansk.

Search resuls for: "European Union countries"

25 mentions found