BRUSSELS—Alphabet unit Google said it will from Tuesday cut fees to 12 percent, from 15 percent, for non-gaming app developers on its Google Play App Store which switch to rival payment systems, as it moves to comply with new EU tech rules. The world’s most popular internet search engine said the fee cut applies only…
Google to Allow App Developers to Use Rival Payment Systems, to Cut Fees
EU Asks Countries to Significantly Cut Natural Gas Consumption Until Next Year
The European Union asked its member states to cut consumption of natural gas by 15 percent at a minimum until spring 2023. According to the proposed regulation (pdf), released Wednesday, it would set an initial 15 percent reduction in natural gas usage between Aug. 1, 2022, and March 31, 2023. At the same time, top…
China and the EU Try Again
July 19, 2022
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Business & MarketsBusiness ColumnistsChinaEUhuman rightsOpinionretaliatory sanctionsThinking About China
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Commentary China and the European Union (EU) are about to try once more to reach an agreement on trade or perhaps investments. The parties came close in late 2020 when they signed an ambitious investment agreement, but it failed to go forward. The two parties tried again this past April in talks that the EU’s…
EU Edges Closer to Ending ‘Too-Big-to-Fail’ Banks by 2024
LONDON—The European Union’s body for dismantling failed banks said on Wednesday it would ratchet up pressure on lenders over the coming months to bolster their defenses so that none remain “too big to fail” by January 2024. The Single Resolution Board (SRB), in its first “heat map” on progress in preventing failing banks from needing…
In Blow for Green Hardliners, Vote Allows Natural Gas and Nuclear Into Key EU Taxonomy
July 6, 2022
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Business & Marketscommoditieseconomic policieseconomyEnvironmentEUEuropegreta thunbergInternationalMarketsNatural gasNuclearScienceWorld
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Members of European Parliament (MEPs) voted on July 6 not to reject adding nuclear and natural gas activities to the European Union taxonomy for sustainable investments. Opponents of the change had to secure an absolute majority of the 705-member European Parliament, or 353 MEPs. Just 328 MEPs voted against the European Commission Act, which would…
UK Conservatives Back PM’s Plan to Override Parts of Brexit Treaty
June 28, 2022
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British Prime Minister Boris Johnson’s bid to tear up parts of the Northern Ireland Protocol has cleared its first hurdle in Parliament, with no Conservative MPs voting against it despite concerns the plans may break international law. MPs voted 295 to 221 to back the Northern Ireland Protocol Bill, which contains measures to remove checks…
EU Renews Digital COVID Pass Despite 99 Percent Negative Public Feedback
News analysis Acting on a proposal of the European Commission, the European Parliament, as expected, voted on June 23 to renew the EU Digital COVID Certificate for another year. The vote was 453 for, 119 against, and 19 abstentions. The certificate regulation had been scheduled to expire on June 30. Earlier this month, a delegation from the…
US Recession Fears Darken Outlook for Global Growth
WASHINGTON/LONDON/TOKYO—Manufacturing growth is slowing worldwide as China’s COVID-19 curbs and Russia’s invasion of Ukraine disrupt supply chains and inflation continues to run at the highest in years, while the growing risk of a U.S. recession poses a new threat to the global economy. Gauges of factory activity released Thursday in Japan, Britain, the euro zone,…
A Dozen EU Countries Affected by Russian Gas Cuts, EU Climate Chief Says
June 23, 2022
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Business & Marketscommoditiescrisiscuteconomic policieseconomyEUEuropeGasMarketsRussiaRussia-Ukraine WarUkraineWorld
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BRUSSELS—A dozen European Union countries have now been affected by cuts to gas supply from Russia, EU climate policy chief Frans Timmermans said on Thursday, as the bloc faces a deepening energy standoff with Moscow. Russia slashed flows through its Nord Stream 1 pipeline to 40 percent of capacity last week citing problems with equipment,…
Did Europe’s Latest Anti-Russia Move Just Push World Closer to WW3?
The country of Lithuania, a member of both NATO and the EU, took an action that might have been the biggest real-world escalation between a member of NATO and Russia since the Ukraine war began. Over the weekend, the Lithuanian government enacted a ban on all goods going from Russia to Kaliningrad—which is Russia’s far-flung…
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