Business Europe World

Energy crisis: EU chief wants to tap excess producer profits

Editorial Bureau September 14, 2022

Brussels (Germany)- A top European Union official unveiled a plan Wednesday to cap the revenue of electricity producers that are making extraordinary profits because of the effects of Russia’s war in Ukraine and climate change, saying the proposal could raise $140 billion to help people hit by

Business IN UK 01 Tech

EU court upholds antitrust ruling against Google, trims fine to $4.12 billion

Editorial Bureau September 14, 2022

The dispute between Google and the EU courts is over whether it uses the Android operating system to quash competition, and was initiated against the company in 2015. The court said it “largely confirms the European Commission’s decision that Google imposed unlawful restrictions on manufacturers of Android mobile devices and mobile network operators to

Europe World

EU nations seek joint approach to contain energy price

Editorial Bureau September 9, 2022

The European Union on Friday intensified its mission to shield the population from dramatically increasing energy costs that could dump millions into cold and poverty over the winter in the wake of Russia’s war in Ukraine that is driving up global energy prices. The energy ministers of the 27 member nations gathered in an emergency […]

Middle East World

Iran submits a ‘written response’ to nuclear deal talks

Editorial Bureau August 16, 2022

Dubai(UAE)- Iran said Tuesday it submitted a “written response” to what has been described as a final roadmap to restore its tattered nuclear deal with world powers. Iran’s state-run IRNA news agency offered no details on the substance of its response but suggested that Tehran still wouldn’t take the European Union-mediated proposal, despite warnings there […]

Asia Business World

EU nears deal to ration gas amid Russian cut-off fears

Editorial Bureau July 26, 2022

Brussels(Germany)- European Union governments on Tuesday neared an agreement on rationing natural gas this winter to protect against any further supply cuts by Russia as Moscow pursues its invasion of Ukraine. EU energy ministers deliberated over a draft European law requiring member states to cut demand for natural gas by 15% from August through March. […]

Business

EU imposes more sanctions on Moscow over Ukraine invasion

Editorial Bureau July 21, 2022

Brussels(Belgium)- The European Union imposed more sanctions on Russia on Thursday over the war in Ukraine after the bloc’s member states backed a series of measures that would include gold imports and tighten export controls on some high-technology goods. European Commission Ursula von der Leyen said that the “reinforced, prolonged EU sanctions against the Kremlin” send

Tech

Amazon offers concessions to head off EU antitrust case

Editorial Bureau July 14, 2022

London(UK)- Amazon, seeking to resolve two European Union antitrust investigations, has promised to treat third-party merchants on its website fairly, the bloc’s competition watchdog said Thursday. The U.S. online retail giant offered to make several commitments to ease competition concerns, and the European Commission, the 27-nation bloc’s top antitrust enforcer, said it

Business Finance

Russia’s war keeps hitting EU economy, pushing up inflation

Editorial Bureau July 14, 2022

Brussels-  Russia’s war in Ukraine is expected to wreak havoc with the European Union’s economic recovery for the foreseeable future with lower annual growth and record-high inflation, the bloc’s economic forecast showed Thursday. The summer figures for the 19-nation eurozone set inflation to reach an average of 7.6% this year, a major increase from its earlier […]

Health

EU urges second COVID-19 booster for people ages 60 to 79

Editorial Bureau July 12, 2022

The Hague(Netherlands)- The European Union said Monday it’s “critical” that authorities in the 27-nation bloc consider giving second coronavirus booster shots to people between the ages of 60 and 79 years and other vulnerable people, as a new wave of the pandemic sweeps over the continent. “With cases and hospitalizations rising again as we enter the summer […]

Fintech IN UK 01

Bank of England: Crypto crashes show need for tougher rules

Editorial Bureau July 6, 2022

London(UK)- The Bank of England warned Tuesday that recent cryptocurrency meltdowns that wiped out more than $2 trillion in value highlight the need for tougher financial regulations Bank of England said that the crashes exposed vulnerabilities in the crypto markets reminiscent of previous bouts of financial turmoil. Extreme volatility in the crypto markets, including