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☆ Apple fined 1 mln euros by Paris court over App Store practices
▼ + stars: | 2022-12-19 | by ( Layli Foroudi | ) www.reuters.com time to read: +2 min

PARIS, Dec 19 (Reuters) - The Paris Commercial Court on Monday fined iPhone maker Apple (AAPL.O) just over 1 million euros ($1.06 million) for imposing abusive commercial clauses on French app developers for access to the company's App Store, the court ruling showed. While tiny in size compared to the huge profits generated by Apple, the Paris court's fine is another sign of the legal pressures Apple faces to loosen its grip over the App Store, so far the only gateway for alternative app developers to access customers. An Apple spokesman said the U.S. company would review the ruling and believed "in vibrant and competitive markets where innovation can flourish." "Through the App Store, we’ve helped French developers of all sizes share their passion and creativity with users around the world while creating a secure and trusted place for customers," the spokesman added. The Digital Markets Act (DMA) in particular will force Apple and fellow tech giant Google to provide space for third-party app stores on their respective iOS and Android devices.

☆ Apple fined 1 million euros by Paris court over App Store practices
▼ + stars: | 2022-12-19 | by ( Layli Foroudi | ) www.reuters.com time to read: +2 min

☆ Medical device makers drop products as EU law sows chaos
▼ + stars: | 2022-12-19 | by ( Maggie Fick | ) www.reuters.com time to read: +9 min

LONDON, Dec 19 (Reuters) - Nicola Osypka's German company has been selling medical devices used in surgery on newborn babies in Europe for decades, but new European Union rules have forced her to make tough decisions. While some companies say the products they have cut have no impact on patients or profits, others say some of withdrawn devices are essential, and doctors agree. Under the EU's Medical Devices Regulation (MDR), which came into effect in May 2021, all medical devices, from implants and prosthetics to blood glucose meters and catheters, must meet stricter safety criteria, sometimes with new clinical trials. Under the old system, it took about 15,000 euros and a few months to get a similar device approved, he said. Tom Melvin, an associate professor of medical device regulatory affairs at Trinity College Dublin, said there were nearly 100 such agencies a decade ago under the old system.

☆ EU countries make final push for gas price cap deal this year
▼ + stars: | 2022-12-19 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 19 (Reuters) - European Union countries' energy ministers meet in Brussels on Monday to attempt to agree a cap on gas prices - their latest idea to tame Europe's energy crisis but one that countries are still split over. With a few countries' positions still unclear, some EU diplomats said both sides may have enough votes to block a deal. Under the latest proposal, once triggered, the EU gas price cap would prevent trades being done on the front-month to front-year TTF contracts at a price more than 35 eur/MWh above a reference level comprised of liquefied natural gas (LNG) price assessments. The EU price cap would not drop below 188 eur/MWh, even if the LNG price fell to far lower levels. The fate of other EU energy policies also hinges on the gas price cap.

Under the deal agreed by negotiators from EU countries and the European Parliament, the EU carbon market will be reformed to cut emissions by 62% from 2005 levels by 2030. If fuel prices are as high in 2027 as today, the introduction of the carbon market would be delayed to 2028. If its CO2 price hits 45 euros ($47.62), then extra CO2 permits will be released into the market to attempt to tame prices. The price of EU carbon permits has soared in recent years, boosted by the expectation that tougher EU emissions targets would curb the supply of CO2 permits in the scheme. The benchmark EU carbon price closed trading at around 84 euros per tonne of CO2 on Friday, roughly ten times its value five years ago.

BRUSSELS, Dec 17 (Reuters) - European Union negotiators were set on Saturday morning to resume efforts to reach a deal on overhauling the EU carbon market, the bloc's main policy tool for fighting global warming, after a first round of talks failed on Friday. Meeting that goal will require the EU carbon market to be reformed to cut emissions faster, which it does by requiring around 10,000 power plants and factories to buy CO2 permits when they pollute. Negotiators are at odds over how quickly to end the free CO2 permits the EU gives industries to protect them from foreign competition. But EU lawmakers want to exclude private consumers from the new CO2 market, a stance opposed by EU countries. If approved, the revamped carbon market will form the centrepiece of a package of 12 new EU policies designed to cut planet-heating emissions faster.

☆ Europe's biggest climate policy heads for final-hour talks
▼ + stars: | 2022-12-16 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

"It is the biggest environmental and climate law that Europe ever dealt with," the European Parliament's lead negotiator Peter Liese said. Officials from EU countries and the EU assembly, who must both agree the final law, said it was unclear if a deal would be struck, given the large number of unresolved issues. Negotiators are at odds over how quickly to end the free CO2 permits the EU gives industries to protect them from foreign competition. EU lawmakers want 50% of free permits phased out before 2030, with the rest gone by 2032 - far earlier than the 2036 end-date countries support. Negotiators have already agreed parts of the carbon market reform, including to expand the scheme to cover shipping and increase CO2 costs for airlines.

☆ Apple Explores Allowing iPhone, iPad Users to Download Apps Outside Its Store
▼ + stars: | 2022-12-16 | by ( Aaron Tilley | Sam Schechner | ) www.wsj.com time to read: 1 min

Apple Inc. is preparing to let applications be downloaded onto iPhones and iPads outside its App Store, while trying to limit the impact on the devices’ security and the company’s business, according to people familiar with the matter. The tech company’s software and app-store engineering group is spearheading work on the technical changes to enable alternate app stores and other software makers access to the iPhone in response to a new European Union law aimed at creating more competition for the most powerful tech companies, the people said.

☆ Why Europe's efforts to open up the iPhone won't hurt Apple too much
▼ + stars: | 2022-12-14 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Now, Apple is reportedly working to follow a law that could force major changes to the iPhone and disrupt Apple's lucrative app distribution model. Apple is developing software to comply with new European Union requirements scheduled to go into effect in 2024, according to Bloomberg News. Currently, the iPhone's App Store is the only way to download software onto iPhones. Apple makes a huge amount of profit from its App Store, which takes a cut of up to 30% from digital sales made through any app it distributes. Apple reported $394 billion in total sales, with $78 billion coming from services, in its 2022 fiscal year, which ended in September.

TOKYO/LONDON, Dec 9 (Reuters) - Japan, Britain and Italy are merging their next-generation jet fighter projects in a bridge between Europe and Asia that marks Japan's first major industrial defence collaboration beyond the United States since World War Two. Britain also wants Japan to improve how it provides security clearances to contractors, sources with knowledge of the discussions told Reuters. The two new platforms would compete head-on with each other and the United States in the global fighter market. "There is going to be a Battle Royal in the next 10-15 years in positioning the various players," said UK defence analyst Francis Tusa. The United States, which has pledged to defend all three countries through NATO and a separate security pact with Japan, welcomed the new Europe-Japan agreement.

☆ Stocks, oil struggle to pull out of four-day slide
▼ + stars: | 2022-12-08 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Germany's 10-year bond yield , seen as the benchmark borrowing cost for the bloc, circled around 1.795% for most of the morning having hit a two-month low of 1.788% on Wednesday. The yield on 10-year Treasury notes was up fractionally at 3.453%, while yield on the 30-year Treasury bond inched up to 3.445%. Hong Kong's Hang Seng Index climbed more than 3% while China's tech giants Alibaba and Meituan (3690.HK) jumped 6% each. Among the main commodities, oil found its footing after a four-day drop that had taken it into the red for the year. Additional reporting by Harry Robertson; Editing by Arun Koyyur and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ The clock is ticking for Apple. It officially has 24 months to release a USB-C iPhone under new EU rules.
▼ + stars: | 2022-12-08 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

The European Union set an official deadline for when smartphones sold there must have a USB-C port. Apple previously confirmed it will comply with EU rule, but doesn't seem happy about the requirement. A port-free iPhone that only charges wirelessly may also technically follow the new EU rule, but would represent a bigger shift. EU lawmakers agreed in June to legislation that requires all phones, tablets, and cameras sold in the EU that use wired charging to have the USB-C port. Apple iPhones use the Lightning charging port now for wired charging, and the European market is an important one for Apple that it can't ignore.

☆ EU Privacy regulators recommend new data limitations for Meta
▼ + stars: | 2022-12-06 | 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 Privacy regulators recommend new data limitations for MetaCNBC's Steve Kovach joins 'Power Lunch' to discuss a new EU regulatory policy recommendation pertaining to Meta, the impact new data policies will have on the company's targeted ad business, and the procedures for EU regulatory policy adoption.

☆ German court dismisses challenge to 750 bln euro EU recovery fund
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Dec 6 (Reuters) - Germany's constitutional court on Tuesday threw out a legal challenge to the European Union's 750-billion-euro ($786 billion) recovery fund, which saw the EU take on joint debt to help member states overcome the COVID-19 crisis. German Finance Minister Christian Lindner welcomed the ruling but said some aspects of the decision would have to be closely analysed by the government. The funds are to be repaid from the EU budget over the coming decades, with Germany shouldering by far the biggest share of any member state. The court ruled that the ratification act had not violated their right to democratic self-determination nor did it "impair the overall budgetary responsibility of the Bundestag". Lucke expressed disappointment at the ruling but said it was positive that the court had emphasized the EU has no general authority to take on common debt.

☆ Russian oil just got hit with sanctions and a price cap after months of lead up. Here's what it means and what happens next.
▼ + stars: | 2022-12-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

If you take anything away from today's newsletter, let it be this: As of today, Russian oil faces a new European Union embargo, as well as a price cap. EU leaders have been debating a price cap for months, but on Friday agreed to a $60-a-barrel level. Some analysts predict Russian oil exports could drop by 1 million barrels per day, or about 20% of its seaborne volume. She told me over a video call from London that, ultimately, oil markets probably won't react dramatically in either direction. What do you think is the most likely outcome of the new sanctions on Russian oil?

LONDON, Dec 5 (Reuters) - The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude. The European Union banned all seaborne Russian crude imports from Dec. 5, with a fuel import ban to follow in February. PRICE SURGEMajor Western oil companies typically stop using tankers when they are about 15 years old, and many would be scrapped. More tankers are now being used for voyages taking weeks, shipping Russian oil from the Baltic and Black Sea to Asia, whereas Russian oil was mainly sold in Europe previously and the voyages only took a few days. Ship broker Braemar also said that some of the vessels involved in shipping Iranian and Venezuelan oil were shifting to transporting Russian oil.

The PSG chaiman also told Anderson that he believes media criticism of the country was down to the fact that many had not visited Qatar. The 49-year-old told Anderson that PSG would want any potential bidder to share a long-term commitment to the club. The 49-year-old told Anderson that he remains opposed to the idea, but is not against other changes. Al-Khelaifi told Anderson that PSG has a two-year contract with Messi, but will discuss his next steps after the tournament ends. Al-Khelaifi told Anderson he expected the star to be okay for the tournament’s knock-out stages, but that he needs referees to give him more protection.

☆ I traveled to every country in the world, including North Korea, in 558 days. These are my top 10 travel tips.
▼ + stars: | 2022-12-01 | by ( Hannah Towey | ) www.businessinsider.com time to read: +12 min

Cassie De Pecol has traveled to all 193 sovereign nations in addition to Taiwan, Kosovo, and Palestine. These are some of her top travel tips — from her favorite airlines to how to stay safe as a solo traveler. So I decided to go after the Guinness World Record for traveling to every country in the fastest amount of time. How I traveled to 193 countries in just over 18 monthsCassie De Pecol in North Korea. If you can, pack lightFor my trip around the world, I traveled with just a backpack.

☆ EU Official Warns Elon Musk That Changes Are Needed at Twitter
▼ + stars: | 2022-11-30 | by ( Kim Mackrael | Sam Schechner | ) www.wsj.com time to read: 1 min

BRUSSELS—A top European official warned Elon Musk that Twitter Inc. would need to make significant changes to comply with a new European Union law governing social-media platforms and content moderation. Thierry Breton, the EU’s commissioner for the internal market, held a video call with Mr. Musk on Wednesday to discuss the new legislation, called the Digital Services Act. He said Mr. Musk—who completed his purchase of Twitter in October—stated he planned to get the service ready for the new rules, but Mr. Breton added that more work would be needed.

☆ EU Official Warns Elon Musk Changes Needed at Twitter
▼ + stars: | 2022-11-30 | by ( Kim Mackrael | Sam Schechner | ) www.wsj.com time to read: 1 min

Elon Musk has made several changes to Twitter, including broad layoffs, sparking questions about its ability to comply with a new EU law. BRUSSELS—A top European official warned Elon Musk that Twitter Inc. would need to make significant changes to comply with a new European Union law governing social-media platforms and content moderation. Thierry Breton , the EU’s commissioner for the internal market, held a video call with Mr. Musk on Wednesday to discuss the new legislation, called the Digital Services Act. He said Mr. Musk—who completed his purchase of Twitter in October—stated he planned to get the service ready for the new rules, but Mr. Breton added that more work would be needed.

[1/2] French President Emmanuel Macron delivers a speech as he hosts a reception for the mayors of France, at the Elysee Palace, in Paris, France, November 23, 2022. The visit also highlights the unique way that Macron has raised France's profile on the world stage, and particularly in the United States. From Beirut to Bangkok, and from the Kremlin to the White House, he has sought to place himself at the center of every crisis, with a flair for seizing the moment. The White House defends the bill as necessary to boost the electric vehicle industry and other clean energy initiatives, saying subsidies play an important role. After Biden apologized publicly, Macron seemed less than mollified, saying "Trust is like love: Declarations are good, but proof is better."

☆ Singapore state investor Temasek to open Paris office in 2023
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Nov 29 (Reuters) - Singaporean state investor Temasek Holdings (TEM.UL) will open an office in Paris next year as it seeks to focus on investments in the Europe, Middle East and Africa (EMEA) region, it said on Tuesday. "Our decision to open a new European office reflects the continuing importance of EMEA as an investment destination," Temasek's EMEA head Uwe Krueger said in a statement. Ranked among the top 10 state investors in the world, Temasek's portfolio value rose to a record S$403 billion ($293 billion) in the year to March 2022. Temasek, which has stakes in large listed Asian companies such as DBS Group (DBSM.SI) and China Construction Bank (601939.SS), is mainly focused on Asia. ($1 = 1.3759 Singapore dollars)Reporting by Yantoultra Ngui; Editing By Anshuman Daga and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Experts explain why a Russian oil price cap might fall flat and instead give Putin's biggest crude customers a boost.
▼ + stars: | 2022-11-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

That day marks the beginning of a price cap on Russian oil, as well as a new European Union ban on seaborne Russian crude imports. "What it suggests is that Russian buyers are able to negotiate very favorable terms from Russian oil companies, who have to sell in order to maintain operations," Brew said. Because of that, it's possible that the West's price cap plan will end up falling flat, with the most noticeable result being customers in Asia bidding lower prices for Russian oil. But there's no guarantee European companies even want to handle any Russian oil at all. Nonetheless, oil markets are unlikely to react dramatically to the price cap, in Gallarati's view.

☆ Musk plans to relaunch Twitter premium service, again
▼ + stars: | 2022-11-25 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

LONDON — Elon Musk said Friday that Twitter plans to relaunch its premium service that will offer different colored check marks to accounts next week, in a fresh move to revamp the service after a previous attempt backfired. Twitter previously suspended the premium service, which under Musk granted blue-check labels to anyone paying $8 a month, because of a wave of imposter accounts. Originally, the blue check was given to government entities, corporations, celebrities and journalists verified by the platform to prevent impersonation. In the latest version, companies will get a gold check, governments will get a gray check, and individuals who pay for the service, whether or not they’re celebrities, will get a blue check, Musk said Friday. It’s also likely to put the company on a crash course with European regulators seeking to clamp down on harmful online content with tough new rules.

☆ Twitter job cuts a concern as new EU rules kick in, EU justice head says
▼ + stars: | 2022-11-24 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

Reynders, who met with Twitter representatives at the social media platform's European headquarters in Dublin, sought clarifications from the company, a European Commission official told Reuters. "Twitter representatives reaffirmed the commitment of the company to ensure full compliance with EU rules. Commissioner Reynders took note of it and asked Twitter to translate this commitment into concrete measures," the official said, speaking on condition of anonymity. Twitter has fired top executives and enforced steep job cuts with little warning following billionaire Elon Musk's tumultuous takeover of the company last month. Twitter's last two Brussels-based employees are no longer with the company, a person familiar with the matter told Reuters, speaking on condition of anonymity.

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