Business – EuroTimes

MEPs Urge Orban, To Act To Unlock EU Money

Yuki Dobber — Thu, 18 May 2023 10:44:44 +0000

MEPs in charge of controlling the spending of EU funds continue to be “greatly concerned” about how Hungary manages EU money. They have called on Prime Minister Viktor Orban to implement reforms that will unblock EU funds that are currently suspended. Monika Hohlmeier, a German MEP of the centre-right party, told reporters in Budapest on […]

Growing Fear EU Firms In Russia May Be Forced To Finance War

Gaston de Persigny — Wed, 17 May 2023 08:55:03 +0000

The EU is preparing to assist their companies in leaving Russia amid the growing risk that they will be taxed and used to fund the war of Russian President Vladimir Putin. The proposals for the 11th round Russia sanctions, as seen by EUobserver include special new permits and legal services to help European companies get […]

[Exclusive] MEP Luxury Pension Held Corporate Assets In Tax Havens

Juan Sanchez Gil — Wed, 17 May 2023 08:54:59 +0000

While the European Parliament was demanding a clamp down on tax havens, many of its own MEPs were using their monthly office allowances to finance a luxury pension scheme that held corporate assets in the Cayman Islands, Bermuda and elsewhere. The investments, including in large banks requiring bailouts, were made at the height of 2008-2010 […]

Plans For EU Anti-Money Laundering Hub

Guest Author — Tue, 16 May 2023 08:23:44 +0000

Plans are being developed for the new EU anti-money laundering agency. It will have 150 employees in its first year, and 300-350 over the next two years. “Before reaching 400 in cruising regime,” said the European Commission in a memo dated 10th May, seen by EUobserver. The office will be 10,000 square metres with a […]

[Stakeholder] “Fortress Europe” Is The Root Cause Of Strains In EU Africa Relations

Murad van Zijtveld — Thu, 11 May 2023 08:03:55 +0000

The search for a “partnership of equality” between African countries and the European Union is a slow and unsteady process that continues to be a challenge. The EU’s shock over African states’ non-intervention in the war in Ukraine and disagreements over unequal distribution of Covid-19 vaccinations have strained relations. The EU’s hopes of engaging in […]

EU Lawmakers ‘hold Their Breath’ As They Prepare To Vote On AI

Yuki Dobber — Fri, 05 May 2023 10:38:00 +0000

Before the end of this year, EU states are likely to resist any attempts by European legislators to regulate artificial intelligence. Some key MEPs in the EU Parliament who are driving the AI Act draft bill, also known as the AI Act or Artificial Intelligence Act, are concerned about a vote that is coming up […]

SVB collapse: What is Europe doing to deal with the fallout? Are its banks at risk of spreading contagion from SVB?

Murad van Zijtveld — Fri, 28 Apr 2023 18:02:15 +0000

The collapse of SVB – the largest bank failure since 2008 – has sent shockwaves around the globe. What is being done in order to limit the fallout from this collapse? The collapse of Silicon Valley Bank, the largest bank failure since 2008 has caused alarm around the world, as governments try and assess its […]

Apple, Google, and Amazon report disappointing results as tech titans face a gloomy outlook

Murad van Zijtveld — Fri, 28 Apr 2023 18:02:09 +0000

Apple’s iPhone sales are down, but Meta, the parent company of Facebook, has a better-than-expected earnings. Apple, Alphabet, and Amazon all reported disappointing quarterly results in the past week, but Meta, Facebook’s parent company, bucked this trend with better-than expected revenue. Apple reported its first revenue decline in nearly four years, after COVID-19 restrictions in […]

Five French banks raided in alleged tax fraud investigation

John B. Rowlands — Wed, 26 Apr 2023 12:00:04 +0000

FILE – A view of the Societe Generale bank headquarters in La Defense, west of Paris, Wednesday, Feb. 13, 2013 – Copyright AP Photo By Euronews with AFP • Updated: 04/04/2023 Authorities raided the Paris offices of five banks Tuesday on suspicion of tax fraud, French prosecutors said. The raids come as part of five […]

Silicon Valley Bank collapse : HSBC buys SVB subsidiary in UK

Lucinda Dommelen — Tue, 25 Apr 2023 09:19:24 +0000

The UK Treasury and Bank of England “facilitated the sale” of Silicon Valley Bank UK (UK) to HSBC. This ensured the security of PS6.7billion (EUR7.6billion) of deposits. British officials spent the weekend trying to find a buyer of the UK subsidiary for the California-based bank which failed last week. This left technology companies from around […]