Apple was fined 500 million euros ($570 million) on Wednesday and Meta 200 million euros, as European Union antitrust regulators handed out the first sanctions under landmark legislation aimed at curbing the power of Big Tech.
The EU’s retaliatory tariffs on US goods worth 21 billion euros will be on hold until July 14, Brussels said on Monday, to give time for negotiations with Washington.
Why do investors flock to gold when economic times turn tough? As the precious metal reaches record highs AFP explains why it remains such a trusted lifeline.
Euro zone economic growth could fall much more from the impact of US trade tariffs than initially estimated by the European Central Bank and the turmoil could also drag inflation down in the near term, four sources told Reuters.
As President Donald Trump launches his tariff war against both friends and foes of the United States, concerns are once again surfacing about the US dollar’s future as the global reserve currency.
The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of US goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket US tariffs on steel and aluminium.
It was another roller-coaster week in US President Donald Trump’s trade war as tariffs against China came into force while Mexico and Canada were given a temporary reprieve.
Solar overtook coal in the European Union’s electricity production in 2024, with the share of renewables rising to almost half the bloc’s power sector, according to a report released Thursday.
As the EU seeks to put a brake on competition from Chinese electric cars, European automakers are stuck in second gear.
The British economy remains open to financial market shocks amid geopolitical tensions and high levels of public debt in major economies, the Bank of England warned on Wednesday.
Central bankers are probably watching unfolding events in the Middle East through their fingers. Tuesday’s strike by Iran on Israel raises the risk of a robust riposte. One of the dangers facing the global economy is that the conflict makes a mess of ratesetters’ plans to loosen monetary policy.
Gold reached record-breaking levels in September, buoyed by a bumper US interest rate cut, fears of rising geopolitical conflict, and an import tax cut in India that has galvanised local demand.
The EU on Monday launched a WTO challenge against a Chinese anti-subsidy investigation into imports of European dairy product, in an escalating trade row between Beijing and Brussels.
British energy bills are set to start rising again this autumn, the sector regulator announced on Friday, sparking fears that fuel poverty will worsen amid an ongoing cost of living crisis.
Chinese biodiesel producers are seeking new outlets in Asia for their exports and exploring producing other biofuels as supply to the European Union, their biggest buyer, dries up ahead of anti-dumping tariffs, biofuel executives and analysts said.
Oil prices were broadly steady on Thursday as investors took profits from earlier gains fuelled by larger than expected declines in US crude stocks.
The prospect of European tariffs cut 20-30 percentage points off China’s growth in exports of electric and plug-in hybrid cars in recent months, an official at a leading Chinese auto industry body said on Monday.
Oil prices settled lower on Friday as the rising possibility of a ceasefire deal in Gaza outweighed strong summer fuel demand and potential supply disruptions from Gulf of Mexico hurricanes.
