US slams EU tariffs targeting Airbus, wine and whiskey

US slams EU tariffs targeting Airbus, wine and whiskey

The United States imposed tariffs on a record $7.5-billion worth of European Union goods on Friday (18 October), despite threats of retaliation, with Airbus, French wine and Scottish whiskies among the high-profile targets. The tariffs, which took effect just after midnight in Washington (0401 GMT), came after talks between European officials and US trade representatives failed to win a last-minute reprieve. The WTO-endorsed onslaught from US President Donald Trump also comes as Washington is mired in a trade war with China and could risk destabilising the global economy further. In…

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VW postpones plan to build a car factory in Turkey in the amount of 1 billion euros due to the invasion of Syria

VW postpones plan to build a car factory in Turkey in the amount of 1 billion euros due to the invasion of Syria

Volkswagen has postponed the decision on opening a new car factory in Turkey against the background of the Turkish military offensive in Syria. “The final decision for the new plant was postponed by the Board of Management of Volkswagen AG,” a company spokesman said on Tuesday (15 October), confirming media reports. Last week, Turkey launched a military offensive against the Kurdish militia YPG in the Syrian border region. On Monday, Turkish President Recep Tayyip Erdoğan showed his determination to continue the operation, despite international criticism, until “the final victory is…

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Is that fair? EU guilty of neglecting fair trade

Is that fair? EU guilty of neglecting fair trade

EU policy makers need to stop conflating free trade with fair trade and instead promote trade deals and radical trade reforms that will genuinely deliver trade justice, write Jan Orbie and Deborah Martens. Professor Jan Orbie is a Director of the Centre for EU Studies and Associate Professor at Ghent University, Dr Deborah Martens is a researcher at the Centre for EU Studies Belgium has just celebrated its annual annual ‘fair trade week’. Civil society organizations, academics, businesses and citizens participate in debates on the impact of fair trade schemes,…

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FAA made major mistakes when approving Boeing 737 MAX

FAA made major mistakes when approving Boeing 737 MAX

The American aviation service FAA has dropped major stitches in the certification of the Boeing 737 MAX. A study into the functioning of the organization confirms that. Type approval errors contributed to fatal crashes with the MAX. The Boeing 737 MAX has had a worldwide flight ban since March, after aircraft of Lion Air and Ethiopian Airlines crashed one after the other. That killed 346 people in total. Investigations into both accidents showed that the so-called MCAS system, intended to prevent crashes, was the main culprit. Soon accusing fingers pointed…

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Practise what you preach: banks should endorse the sustainability practices they publicly support

Practise what you preach: banks should endorse the sustainability practices they publicly support

Paul Tang questions why bank lobbyists are seeking to delay transparency measures that they have publicly endorsed. Paul Tang is an MEP in the Socialist and Democrat group and a member of the Economic and Monetary Affairs committee With the ‘FridaysForFuture’ protests, idealism has triumphed on the streets. Bankers’ boardrooms and financial towers, however, are still rife with cynicism. At the UN General Assembly in New York last month, while bank executives committed to bringing their lending practices in line with UN Sustainable Development Goals and the Paris Climate Agreement,…

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The Impact of US Sanctions on European Products: A Closer Look

The Impact of US Sanctions on European Products: A Closer Look

Scotch single malt whisky, German decals, Spanish stuffed olives, British cotton bed linen. These products have one thing in common: the US plans to tax them at 25%. Washington announced on Wednesday (2 October) that it would hit European products with punitive tariffs worth $7.5 billion after receiving the green light from the World Trade Organization (WTO), following a 15-year legal battle between aircraft manufacturers Boeing and Airbus. The US announced it would impose tariffs that amount to 10% on aircraft and 25% on certain German and British industrial products,…

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Gentiloni selects Buti as head of the cabinet

Gentiloni selects Buti as head of the cabinet

The Commissioner-designate for economy, Italian Paolo Gentiloni, has picked director-general of ECFIN, Marco Buti, to become his head of cabinet, three sources confirmed to EURACTIV.com. Buti is an experienced European official who has lead the directorate-general for economic and financial affairs from the outset of the financial crisis in the second half of 2008. By picking his compatriot, Gentiloni will add a safe pair of hands to deal with the complex issues expected in the new period, including the review of the stability and growth pact, and the oversight of…

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The highest paid lawmakers in the EU? Brexitis Party

The highest paid lawmakers in the EU? Brexitis Party

The 28 lawmakers from Britain’s Brexit Party have collectively declared outside earnings of between €2 million and €4.5 million per year, making them the highest earners in the European Parliament, Transparency International said on Thursday. The party, founded by anti-EU campaigner Nigel Farage, won the most British seats in European elections this year. It says Britain should not still be in the EU, and its lawmakers turned their backs when the bloc’s Beethoven anthem was played at the opening session. Transparency International, a watchdog which monitors EU lobbying and outside…

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Former Romanian anti-bribery chief Kövesi is close to becoming EU chief prosecutor

Former Romanian anti-bribery chief Kövesi is close to becoming EU chief prosecutor

After a month-long standoff in appointing the EU’s first-ever anti-fraud prosecutor, a majority of member states last week backed making Romania’s former top anti-corruption official Laura Codruța Kövesi despite strong headwind from her own homecountry. “An informal vote confirmed there is a sufficient majority” among EU ambassadors on Thursday (19 September) to put Kövesi in charge of the new European Public Prosecutor’s Office (EPPO) set to start work at the end of 2020, according to a diplomat from Finland, which holds the EU’s rotating. According to EU sources, the Romanian…

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Google agrees on $1 billion to end a tax settlement dispute with France

Google agrees on $1 billion to end a tax settlement dispute with France

US internet giant Google has agreed a settlement totalling $1 billion to end a tax dispute in France under an agreement announced in court on Thursday (12 September). The company will pay a €500 million fine for tax evasion, as well as a further €465 million to settle claims with French tax authorities. In a statement, Google confirmed the settlement and hailed the fact it had put an end to fiscal differences that it had had with France for numerous years. The settlement follows similar out-of-court agreements reached in Italy…

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