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☆ Comparing salaries — and uncovering gender pay gaps — could be easier under these new EU rules
▼ + stars: | 2023-03-31 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +3 min

Research has shown that salary transparency is key to closing the gender pay gap as women are often less likely to negotiate their compensation and tend to undervalue themselves. But what the exact consequences for too big a gender pay gap will be is up to the EU's individual member countries. "This legislation makes it crystal clear that we do not accept any kind of gender pay discrimination in the EU," Danish EU politician Kira Marie Peter-Hansen, who worked on the new legislation, said. A recent report by Moody's found that the gender pay gap could in fact cost the world economy as much as $7 trillion. The most recent official data shows that the gender pay gap in the EU was at 13% in 2021.

☆ Multinationals Slam New EU Foreign-Subsidy Law’s Reporting Rules
▼ + stars: | 2023-03-28 | by ( Kim Mackrael | ) www.wsj.com time to read: 1 min

The new European Union foreign-subsidy rules are set to take effect later this year. BRUSSELS—Multinational companies including Intel Corp. and Raytheon Technologies Corp. are warning that new European Union rules for reporting foreign subsidies are so onerous they could disrupt mergers and acquisitions and impede public tendering. In a letter sent last week to the European Commission, the bloc’s executive body, the companies said the commission “severely underestimates” the work required to comply. While the companies said they support the overall aim of the new rules, they said their implementation “will result in an extremely complex administrative ordeal.”

☆ Intel, Raytheon, Other Big Companies Push Back on EU Subsidy Rules
▼ + stars: | 2023-03-28 | by ( Kim Mackrael | ) www.wsj.com time to read: 1 min

☆ Fact Check-Resurfaced clip shows farmer protests spraying police with hay in Brussels in 2015
▼ + stars: | 2023-03-24 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A video showing protesters spraying hay on to a police line dates back to a 2015 demonstration in Belgium, but the footage has been recently miscaptioned in posts claiming it depicts a Dutch farmers protest in March 2023. Examples are viewable on Twitter (here) and Facebook (here ), with one popular tweet reading, “The Netherlands is seizing privately owned farm land. In protest, Dutch farmers are spraying government buildings and riot police with MANURE! Another video by outlet New Europe, seemingly depicting the same scene as the clip shared online (youtu.be/14vowMfvrIs?t=26 ), also shows the tractor throwing hay at police officers. This video showing protesters spraying hay on to a police line was filmed in Belgium in 2015.

[1/4] Britain's King Charles waves as he arrives for a visit to the new European Bank for Reconstruction and Development (EBRD) in London, Britain March 23, 2023. Kirsty Wigglesworth/Pool via REUTERSPARIS, March 24 (Reuters) - Britain's King Charles on Friday cancelled a state visit to France after social unrest over President Emmanuel Macron's new pension law erupted into some of the worst street violence seen in years across the country. "The King and The Queen Consort's State Visit to France has been postponed. Their Majesties greatly look forward to the opportunity to visit France as soon as dates can be found," a Buckingham Palace spokesperson said. A Buckingham Palace source said Charles' visit to Germany will go ahead as planned.

☆ In Green Hydrogen Race With the U.S., Europe Is Hobbled
▼ + stars: | 2023-03-22 | by ( Carol Ryan | ) www.wsj.com time to read: +1 min

European politicians worry that the generous subsidies for green-energy technologies in the U.S.’s climate bill will lure investment to America. Excitement about green hydrogen is high in energy circles. Europe had an early lead, but now the U.S. is doing the better job of powering up the new industry. So-called green hydrogen is made by using an electrolyzer to split water into hydrogen and oxygen using renewable electricity. Most hydrogen today is derived from natural gas and considered “gray.”

☆ Despite opposition, UK's Sunak wins post-Brexit trade vote in parliament
▼ + stars: | 2023-03-22 | by ( ) www.cnbc.com time to read: +3 min

British Prime Minister Rishi Sunak won the backing of parliament on Wednesday for a key element of a reworked post-Brexit deal on Northern Ireland. Despite the opposition, Sunak won the vote by 515 to 29, suggesting that several in his Conservative Party had abstained on the vote. "The Stormont brake is at the heart of the (Windsor) Framework," Northern Ireland minister Chris Heaton-Harris told parliament ahead of the vote. "It restores practical sovereignty for the United Kingdom as a whole and the people of northern Ireland in particular." Johnson, the face of the campaign to leave the EU, and his successor, Truss, both said they would vote against the brake.

Sunak has tried to end years of wrangling over Brexit by revisiting one of the trickiest parts of the negotiations - to ensure smooth trade to Northern Ireland without creating a hard border with Britain or with European Union-member Ireland. "I welcome parliament voting today to support the Windsor Framework," Britain's Northern Ireland minister Chris Heaton-Harris said on Twitter. "This measure lies at the very heart of the Windsor Framework which offers the best deal for Northern Ireland, safeguarding its place in the Union and addressing the democratic deficit." Sunak hailed securing the deal last month as a "decisive breakthrough" but by alienating the DUP he has failed in restoring the power-sharing government in Northern Ireland. DUP leader Jeffrey Donaldson told parliament his party could not return to Northern Ireland's power-sharing government "at this stage".

☆ At what cost? UK PM Sunak to win post-Brexit trade vote in parliament
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

Sunak has sought to end years of wrangling over Brexit by revisiting one of the trickiest parts of the negotiations - to ensure smooth trade to Northern Ireland without creating a so-called hard border with Britain or the European Union. He agreed with the EU to introduce the "Stormont brake", aimed at offering Northern Ireland more control over whether to accept any new EU laws, as part of the so-called Windsor Framework of measures to soothe post-Brexit tensions. But in Wednesday's vote in the lower house of parliament, those he most wanted to win over - Northern Ireland's Democratic Unionist Party (DUP) and some Conservative eurosceptics in the European Research Group (ERG) - are set to rebel. The brake enables Britain to prevent new EU laws applying to goods in Northern Ireland if asked to do so by a third of lawmakers in the province's devolved legislature. The DUP has for a year boycotted Northern Ireland's power-sharing government over its opposition to the post-Brexit trade rules, which effectively leaves the province in the EU's single market for goods and means it has to follow some of the bloc's rules.

☆ Top EU judge expects a wave of litigation from tech giants against new tech law
▼ + stars: | 2023-03-17 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

REUTERS/Andrew KellyBRUSSELS, March 17 (Reuters) - Tech giants will likely challenge a new European Union law aimed at reining in their power with the first cases in a potential wave of litigation expected by year-end, one of the EU's top judges said on Friday. Those disagreeing with the label and requirements are likely to take their complaint to the Luxembourg-based General Court within months, its president Marc van der Woude said. But van der Woude said the DMA was still evolving. He said areas of dispute will likely focus on the gatekeeper designation, specifications of their obligations and during enforcement of the DMA. A contentious area is likely to be the requirement on gatekeepers to notify their acquisitions to the Commission and whether such deals meet the threshold for regulatory scrutiny, van der Woude said.

☆ TikTok unveils new European data security regime
▼ + stars: | 2023-03-08 | by ( Martin Coulter | ) www.reuters.com time to read: +1 min

LONDON, March 8 (Reuters) - TikTok has announced out a new data security regime, nicknamed “Project Clover”, amid growing pressure from lawmakers on both sides of the Atlantic. The European Parliament, European Commission and the EU Council recently banned TikTok from staff phones due to growing concerns about the company, which is owned by Chinese firm ByteDance, and whether China's government could harvest users' data or advance its interests. At a news briefing on Wednesday, TikTok said it would begin storing European user data locally this year, with migration continuing into 2024. That’s been our approach in the U.S., that’s been our approach everywhere,” said Theo Bertram, VP of government relations and public policy. TikTok has engaged a similar strategy in the U.S., nicknamed “Project Texas”, in an attempt to placate hostile lawmakers.

☆ New EU-US data pact may come too late for Facebook -regulator
▼ + stars: | 2023-03-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

SummarySummary Companies Facebook may face EU-U.S. data freeze by MayAction due to concerns about U.S. intelligenceNew EU-U.S data privacy deal may come laterDUBLIN, March 7 (Reuters) - A new pact to facilitate the safe transfer of EU citizens' personal data to the United States might not come into force in time to avoid a suspension of Facebook's transatlantic data flows, the U.S. firm's lead European regulator said on Tuesday. European Union regulators led by Ireland's Data Protection Commissioner (DPC) Helen Dixon are finalising a ban on the legal tool used by Facebook to transfer European user data because of concerns U.S. intelligence agencies could access them. In an interview, Dixon said the ban could be in place by mid-May while a new EU-U.S data protection framework that would provide an alternative basis for the transfers might take longer. It must be signed off by other European regulators by April 13, and after that, Dixon said she would have another month to issue a ruling. NEW FRAMEWORKOfficials have said the new EU-U.S. framework, which aims to offer EU citizens the same level of data protection as under European law, may be ready by summer.

☆ Northern Ireland's DUP: New deal does give Stormont ability to apply brake
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 28 (Reuters) - The leader of Northern Ireland's Democratic Unionist Party (DUP) said a new provision to stop new European Union trade rules from applying to goods in Northern Ireland did appear to give its Stormont regional assembly the ability to apply a brake. "I do think that what has been proposed at first reading does give Stormont the ability to apply the brake where the application of EU law for the purposes of facilitating cross-border trade impacts on our ability to trade with the rest of the United Kingdom," Jeffrey Donaldson told BBC Radio 4 on Tuesday. We continue to have some concerns," he said of the new post-Brexit deal struck between Britain and the EU on Monday. The Stormont brake, unveiled as part of the deal, enables the British government to stop new EU laws from applying to goods in Northern Ireland if requested by a third of lawmakers in Stormont, the British province's regional assembly. Reporting by Sachin Ravikumar, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

☆ Brexit slammed the UK economy. The Northern Ireland deal gives it hope
▼ + stars: | 2023-02-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

It delivers “long-lasting solutions” that will work for the people and businesses of Northern Ireland, she added. It also allows the UK government to determine sales tax rates for businesses in Northern Ireland and gives the Northern Ireland government emergency powers to oppose new EU rules on some goods. A boost to BritainBeyond its importance to Northern Ireland, the deal eases the uncertainty Brexit created for Britain. The new Northern Ireland deal opens the door to closer UK-EU cooperation on financial services, energy, immigration and scientific research, according to experts. “You need to address the Protocol before you do anything else,” said Anna Jerzewska, the founder of international trade consultancy Trade & Borders.

☆ Factbox: UK says 'Stormont Brake' gives UK unequivocal veto over some EU laws
▼ + stars: | 2023-02-27 | by ( Padraic Halpin | ) www.reuters.com time to read: +4 min

In a British government document setting out details of the deal, London said the mechanism gives it an "unequivocal veto" on EU rules when 30 members of Northern Ireland's devolved government from two or more parties object. "Once the UK notifies the EU that the brake has been triggered, the rule in question is suspended automatically from coming into effect," the document published on the British government website said. "This would give the UK an unequivocal veto - enabling the rule to be permanently disapplied - within the Joint Committee." If the UK accepts these conditions have been met, it would commence intensive consultations at the joint committee. This would be because of a divergence in trade rules between Northern Ireland and Ireland - and thus the broader EU, London noted.

☆ UK begins long and uncertain road back from Brexit
▼ + stars: | 2023-02-27 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

LONDON, Feb 27 (Reuters Breakingviews) - Britain is beginning the long and uncertain road back from Brexit. Changes to the so-called Northern Ireland Protocol were inevitable. There’s still scope to improve Johnson’s trade deal, struck in 2019. The route back is uncertain, but the symbolic importance of the Northern Ireland deal is not. The agreement marks a “new chapter” in relations between the UK and European Union, Sunak said in a press conference.

☆ Explainer: Europe gets ready to revamp its electricity market
▼ + stars: | 2023-02-27 | by ( Kate Abnett | ) www.reuters.com time to read: +6 min

STOCKHOLM, Feb 27 (Reuters) - European Union energy ministers meet on Monday to debate upcoming power market reforms. Currently, power prices in Europe are set by the running cost of the plant that supplies the final chunk of power needed to meet overall demand. Often, that is a gas plant, so gas price spikes can send electricity prices soaring. They say Europe's existing power market is functioning well, and has fostered years of lower power prices, supported renewable energy and helped avoid energy shortages. The Commission initially pitched the reform as a chance to "decouple" gas and power prices in Europe, suggesting a redesign of the current system of setting power prices.

☆ UK and EU leaders to meet Monday to finalise Northern Ireland deal
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +3 min

"The Prime Minister wants to ensure any deal fixes the practical problems on the ground, ensures trade flows freely within the whole of the UK, safeguards Northern Ireland’s place in our Union and returns sovereignty to the people of Northern Ireland," a statement from Sunak's office said. SOVEREIGNTY CONCERNSAs part of its exit agreement, Britain signed an accord with Brussels known as the Northern Ireland protocol to avoid imposing politically contentious checks along the 500-kilometre (310-mile) land border with Ireland. But the protocol effectively created a border for some goods moving from Britain because it kept Northern Ireland in the EU's single market for goods. That also left Northern Ireland subject to some EU rules even though it was not a member of the bloc. Perceptions that the protocol erodes Northern Ireland's place in the UK have sparked anger among many in pro-British communities.

☆ England's prized soccer league to face regulation and tough new ownership rules
▼ + stars: | 2023-02-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Fans of Chelsea Football Club protest against the European Super League outside Stamford Bridge on April 20, 2021 in London, England. LONDON — The U.K. government on Thursday confirmed plans to set up an independent regulator to oversee soccer clubs following a slew of controversies around acquisitions, new tournament plans and allegations of financial rule-breaking. It follows widespread fan opposition to plans for a new European Super League in 2021. Rights groups have previously insisted that potential Premier League club owners should be subjected to human rights probes. Currently, the rules prohibit prospective owners that have previous criminal convictions or breaches of major football regulations.

☆ 'They started the war': Russia's Putin blames West and Ukraine for provoking conflict
▼ + stars: | 2023-02-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Russian President Vladimir Putin attends the opening of new health facilities via a video link at the Novo-Ogaryovo state residence, outside Moscow, on February 15, 2023. Russian President Vladimir Putin on Tuesday used a widely-watched speech to deny responsibility for the war in Ukraine and lash out at his adversaries. Putin claimed Russia had been attempting to allow citizens in the contested Donbas region to speak their "own language" and had attempted to resolve the conflict peacefully. "We had no doubt that by February 2022, everything was prepared for a punitive action in Donbas, where [the] Kyiv regime provided artillery and aviation and other weapons to attack Donbas in 2014. In 2015, they attempted again to directly attack Donbas, they continued shelling, terror," he said.

☆ Ukraine war live updates: Putin accuses West in state of the nation address; China’s top diplomat to visit Moscow
▼ + stars: | 2023-02-21 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

President Vladimir Putin will provide an assessment of Moscow's so-called "special military operation" in Ukraine and the impact on Russia's economy when he delivers his state of the nation address Tuesday. President Vladimir Putin provided an assessment of Moscow's so-called "special military operation" in Ukraine and the impact on Russia's economy during his state of the nation address Tuesday. Putin accused Ukraine and the West of provoking the conflict with the expansion of NATO and new European anti-rocket defense systems. "They started the war, and we used the force in order to stop it," Putin said according to a translation of the speech in Moscow. During the visit, Biden pledged to deliver a new package of U.S. aid to Ukraine worth $500 million.

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.

☆ Explainer: Talks on post-Brexit Northern Ireland trade edge closer to deal
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +5 min

WHAT IS THE NORTHERN IRELAND PROTOCOL? Northern Ireland also remains part of the UK's customs territory. That effectively created a customs border in the sea between Britain and Northern Ireland, which pro-British communities say erodes their place within the UK. The Democratic Unionist Party (DUP), Northern Ireland's biggest unionist party, also says the province should not have to follow laws without having a say. According to so-called dynamic alignment, this also means that any new EU acts may also be added to those that apply in Northern Ireland.

☆ Explainer: What is the Northern Ireland protocol?
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +5 min

[1/3] A truck parked beside a 'money changed' sign is seen on the border between Northern Ireland and the Republic of Ireland near Jonesborough, Northern Ireland, October 13, 2021. WHAT IS THE NORTHERN IRELAND PROTOCOL? Northern Ireland also remains part of the UK's customs territory, effectively creating a customs border in the sea between Britain and Northern Ireland. The protocol specifies those EU regulations and directives with which Northern Ireland must remain aligned, and means new EU acts may be added to those that apply in Northern Ireland. The Northern Ireland Protocol bill, if passed by parliament, would give the British government the power to unilaterally decide to all but renege on the agreement.

☆ French car parts group Faurecia to sell SAS cockpit unit to Motherson
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 19 (Reuters) - French car parts maker Faurecia (EPED.PA) has agreed to sell its SAS Cockpit Modules arm to automotive supplier Motherson Group (SAMD.NS), in a transaction based on an enterprise value of 540 million euros ($577.5 million), Faurecia said on Sunday. Faurecia last year took over German rival Hella (HLE.DE) to form a new European car parts company called FORVIA, and Faurecia chief Patrick Koller said the sale of the SAS business would help FORVIA to focus better on its core activities. "I am convinced that this transaction would unlock additional value for SAS," Koller said in a statement. "This would also allow FORVIA to focus on its core business activities developing breakthrough technologies and would fulfil our non-strategic asset divestment programme of 1 billion euros by end-2023," he added. ($1 = 0.9351 euros)Reporting by Sudip Kar-Gupta; Editing by David Goodman and David HolmesOur Standards: The Thomson Reuters Trust Principles.

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