Showing posts with label EU. Show all posts
Showing posts with label EU. Show all posts

Thursday, 31 May 2018

Trump aims to impose tariffs on steel, aluminium imports from EU: Report

Trump, Donald trump, iran deal

President Donald Trump intends to impose steep import duties on steel and aluminium imports from Europe starting Friday, after weeks of talks failed to reach a compromise, The Wall Street Journal reported on Wednesday.

Trade officials from Washington and Brussels had continued discussions to find a solution, such as import quotas, that would convince Trump to extend the exemption for the European Union from the 25 per cent tariff on steel and 10 per cent on aluminium.

But The Wall Street Journal cited people familiar with the matter saying a last minute deal appeared unlikely, and the tariff announcement could come as early as Thursday.

Trump imposed the tariffs in March to address global oversupply of the metals, but though it was largely aimed at China it hit US allies as well.

Washington exempted Canada and Mexico from the tariffs while negotiations continue to revamp the North American Free Trade Agreement, and South Korea agreed to quotas instead of tariffs.

Trump aims to impose tariffs on steel, aluminium imports from EU: Report

Trump, Donald trump, iran deal

President Donald Trump intends to impose steep import duties on steel and aluminium imports from Europe starting Friday, after weeks of talks failed to reach a compromise, The Wall Street Journal reported on Wednesday.

Trade officials from Washington and Brussels had continued discussions to find a solution, such as import quotas, that would convince Trump to extend the exemption for the European Union from the 25 per cent tariff on steel and 10 per cent on aluminium.

But The Wall Street Journal cited people familiar with the matter saying a last minute deal appeared unlikely, and the tariff announcement could come as early as Thursday.

Trump imposed the tariffs in March to address global oversupply of the metals, but though it was largely aimed at China it hit US allies as well.

Sunday, 15 April 2018

Americans are murderers: Massive protest in Athens against Syria airstrikes

Syria airstrikes, protests against syria airstrike, Communist Party, EU, NATO, US, Donald Trump, chemical attack in Syria

Thousands of Greeks turned up at a rally and march in central Athens organised by the Communist Party to protest the US-led airstrikes against Syria.

The protesters gathered Saturday at Athens' central Syntagma Square before marching to the US Embassy, chanting anti-US slogans and carrying banners.

Some wrote on the pavement in red paint: "Americans, murderers of people."

Police vehicles barricaded access to the embassy and protesters left peacefully.

Dimitris Koutsoumbas, the Communist Party's leader, blasted Greek politicians for believing "flimsy excuses about a use of chemical weapons" by Syria.

He also criticized their "subservience" to the EU and NATO, as well as their support for Israel.

He told the crowd "the imperialists once again spill the blood of the local people. They destroy and splinter states by using fabricated evidence.

Wednesday, 21 March 2018

Bayer clears EU hurdle for $62.5-bn takeover of Monsanto with BASF sale

Logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal, Germany

German conglomerate Bayer won EU antitrust approval on Wednesday for it's $62.5 billion buys of US peer Monsanto, the last of a trio of mega-mergers that will reshape the agrochemicals industry.

The tie-up is set to create a company with control of more than a quarter of the world's seed and pesticides market.

Driven by shifting weather patterns, competition in grain exports and a faltering global farm economy, Dow and Dupont, and ChemChina and Syngenta had earlier led the wave of consolidation in the sector.

Environmental and farming groups have opposed all three deals, worried about their power and their advantage in digital farming data, which can tell farmers how and when to till, sow, spray, fertilise and pick crops based on algorithms.

The European Commission said Bayer addressed its concerns with its offer to sell a swathe of assets to boost rival BASF confirming a Reuters story on February 28.

Wednesday, 7 March 2018

Goldman puts London staff on notice for German move over Brexit stalemate

Goldman Sachs

Goldman Sachs has put more than a dozen UK-based banking, sales and trading staff on notice to move to Frankfurt within weeks, two sources with knowledge of the matter said, as it braces for divorce between Britain and the European Union.

After months of patience and private lobbying, the US investment bank has decided it can no longer wait for clarity from lawmakers on how its business might be impacted by Britain's imminent exit from the trading bloc and is taking the steps to minimise disruption to clients.

It has informed members of its London-based derivatives and debt capital markets teams working on German accounts that their activities will be relocated to its base in Frankfurt and to make the necessary preparations to move to those offices by end-June, the two sources told Reuters.

Several members of those teams have already negotiated and signed new German employment contracts in advance of the move, one of the sources added.

Goldman declined to comment.

Wednesday, 14 February 2018

Germany may start free public transport as pollution exceeds EU limits

Germany

The German government has made a proposal to introduce free public transportation as a radical measure to lower nitrogen oxide pollution in cities.

At least 20 major German cities continue to record nitrogen oxide pollution levels that exceed the EU limits and would be unable to correct the circumstance before 2020 according to a new report, Xinhua news agency said.

With the announcement on Tuesday, Berlin attempted to prevent any legal action against it by the European Commission for continually failing to comply with European Union (EU) urban air quality regulations.

Several courts in Germany were also independently mulling imposing a driving ban on diesel vehicles in the worst-affected cities.

Tuesday, 12 December 2017

Brexit will work not just for citizens but for animals too: Britain

Brexit

Brexit must work for animals too, Britain's Environment Secretary Michael Gove said today, promising that welfare standards would improve after leaving the European Union.

"We are a nation of animal lovers so we will make Brexit work not just for citizens but for the animals we love and cherish too," said Gove, a leading pro-Brexit campaigner for the 2016 EU referendum.

Gove was presenting a draft law that would enshrine the concept of animal sentience into British law and introduce new jail sentences for animal abusers.

"Britain outside the European Union can have higher standards on the environment and indeed on animal welfare," he said.

The move follows a social media storm after MPs last month during a heated Brexit debate voted against transposing an EU protocol recognising animals as sentient beings into British law.

Commentators took that to mean MPs had voted to say animals did not have feelings.

"As we leave the EU we will deliver a green Brexit, not only maintaining but enhancing animal welfare standards," Gove said.
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Wednesday, 22 November 2017

Theresa May govt sets aside extra 3 billion pounds for Brexit

Britain's Prime Minister Theresa May. (File Photo: Reuters)

The UK government today announced that it is setting aside an extra 3 billion pounds over the next two years in preparation for Britain's exit from the European Union (EU) after last year's referendum in favour of Brexit.

In his much-anticipated Budget speech, UK Chancellor Philip Hammond was cheered in the House of Commons as he announced that the government will stand ready to allocate further sums in preparation for "every possible outcome" in the tough Brexit negotiations with Brussels.

"While we work to achieve this deep and special partnership [with the EU] we are determined to make sure the country is prepared for every possible outcome," Hammond said.

"We have already invested almost 700 million pounds in Brexit preparations and today I am setting aside over the next two years another 3 billion pounds and I stand ready to allocate further sums if and when needed. No one should doubt our resolve," he said.

The finance minister designed his Budget as a vision for a "Global Britain" after Brexit, which will have a "prosperous and inclusive economy where everybody has the opportunity to shine wherever in the UK they live, whatever their background".
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Tuesday, 7 November 2017

Paradise Papers: EU pushes for tax blacklist after leak

Paradise Papers

EU finance ministers sought today to break resistance against creating Europe's first ever blacklist of tax havens after new revelations from the "Paradise Papers" showed how major firms escape tax.

The 28 members of the European Union have struggled for over a year to finalise a list of non-EU tax havens, with smaller countries such as Ireland, Malta and Luxembourg loath to scare off major firms headquartered in their low tax capitals.

Soon-to-quit Britain has also drawn up resistance, hoping to protect the near zero-tax rates offered in several of its dependencies, such as Jersey or the British Virgin Islands, that have been identified in the series of leaks that also include Panama Papers and the Luxleaks scandal.

The island of Jersey, a few kilometres (miles) off the coast of France, was where the latest reports said Apple shifted much of its offshore wealth when Ireland changed its laws under pressure from the EU.

"It is important that this list comes out (...) in 2017, it must be credible and up to the challenge," said EU Economics Affairs Commissioner Pierre Moscovici, who is leading the blacklist effort.

The EU ministers will try to bridge their differences and draw up an official list of unwanted tax havens in December, whittling down an initial list of 92 countries finalised last year.

Sources said EU officials have warned about 60 countries that their tax policies may be problematic and at risk of blacklisting, demanding further information before a November 18 deadline.
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Wednesday, 1 November 2017

Brexit to cost UK 10,000 finance jobs on day-1, 75,000 in all: BoE governor

Brexit

Job losses totalling 75,000 in and because of are "plausible", Bank of England Deputy Governor said on Wednesday.
Woods told British lawmakers that the 65,000 to 75,000 estimate was drawn up by consultants Oliver Wyman and not the of England, but that it was within a "plausible range of scenarios".
Woods also told a House of Lords committee that it was reasonable to expect that the UK financial sector will have lost about 10,000 jobs on "day one" of when leaves the European Union in March 2019.
"It's a moving feast," Woods said.

Tuesday, 31 October 2017

The dangerous trend threatening the future of the nation-state

Donald Trump

When the historian Arthur Schlesinger, Jr., published his bestseller The Disuniting of America in 1991, he didn’t seriously entertain the worst-case scenario suggested by the title. At the time, the Soviet Union and Yugoslavia were imploding, while separatist movements in Quebec, East Timor, Spain’s Basque country, and elsewhere were already clamouring for their own states.

But when it came to the United States, Schlesinger’s worries were principally focused on the far smaller battlefield of the American classroom and what he saw as multiculturalism’s threat to the mythic “melting pot.” Although he took those teacup tempests seriously, the worst future Schlesinger could imagine was what he called the “tribalization of American life.” He didn’t contemplate the actual dismemberment of the country.

Today, controversies over hate speech and gender politics continue to roil American campuses. These, however, are probably the least important conflicts in the country right now, considering the almost daily evidence of disintegrative pressures of every sort: demonstrations by white supremacists, mass shootings and police killings, the current dismantling of the federal government. Not to speak of the way cities and states are defying Washington’s dictates on immigration, the environment, and health care. The nation’s motto of e pluribus unum — out of many, one —is in serious danger of being turned inside out.

A country that hasn’t had a civil war in more than 150 years, where secessionist movements from Texas to Vermont have generally caused merriment rather than concern, now faces divisions so serious and a civilian arsenal of weapons so huge, that the possibility of national disintegration has become part of mainstream conversation. Indeed, after the 2016 elections, predicting a second civil war in the United States — a real, bloody, no-holds-barred military conflict — has become all the rage among journalists, historians, and foreign policy pundits across the political spectrum.
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Sunday, 22 October 2017

Catalonia, Spain and the economic consequences of a split

People with Catalan flags gather during a rally in Barcelona, Spain. (Photo: AP| PTI)

The prospect of Catalonia seceding from Spain has never looked closer. Following a messy referendum vote on the matter (which the Spanish government refused to recognise but sent police in to prevent from taking place) and a series of protests, there seems to be a real possibility of a split taking place. But what might the economic consequences be?

In terms of size and population, Catalonia is comparable to several European countries, such as Switzerland. Although it has 16% of the Spanish population, it generates 19% of Spain’s GDP and 25% of its exports. Its GDP per person is currently 14% higher than the EU average (but slightly below that of other regions of Spain such as the Madrid region, the Basque Country and Navarra). Meanwhile, the rest of Spain has a GDP per person of about 10%-15% below the EU average. Unemployment is also lower in Catalonia than in the rest of Spain, and similar to that of the region of Madrid.

This means that Catalonia, as well as the new Spanish state that emerges from a split, could be perfectly viable countries on their own. There would, of course, be economic consequences for both following a split – but this may be worse in the short-term than the long-term.
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Tuesday, 17 October 2017

UK hate crimes surge on Brexit, terror attacks

brexit, UK, Britain, EU

The UK has registered a 29 per cent surge in hate crimes in the wake of Brexit and terrorist attacks in the country, according to new Home Office figures released today.

There were 80,393 offences in 2016-17, compared with 62,518 in 2015-16, the largest increase since the UK Home Office began recording figures in 2011-12.

The number of hate crime incidents recorded by British police forces reached a record monthly level of 6,000 incidents in June this year.

This peak was higher than the previous monthly peak of 5,500 in July 2016, seen in the aftermath of the referendum in favour of Briatain's exit or 'Brexit' from the European Union (EU).

"The increase over the last year is thought to reflect both a genuine rise in hate crime around the time of the EU referendum and following the Westminster Bridge terrorist attack (March 2017), as well as ongoing improvements in crime reporting by police," the Home Office report noted.

The crimes continued to rise after the Westminster Bridge attack on the Houses of Parliament when terror suspect Khalid Masood rammed a car into pedestrians and stabbed a policeman on duty at the Parliament gates, followed by the Manchester suicide bombing in May and terror attacks in London in June.

Monday, 16 October 2017

EU ministers approve new sanctions to punish North Korea

Kim Jong Un, North Korea

The European Union mposed fresh sanctions on North Korea today as part of international efforts to punish the pariah regime for its nuclear and ballistic weapons programmes.

Foreign ministers meeting in Luxembourg signed off a new package of measures including a ban on investments in North Korea and on EU exports of oil to Pyongyang.

They also tightened the restrictions on North Korean workers in the EU to try to stop money being sent home that could be used to fund the disputed weapons programmes.

The EU said the new steps were taken in view of the "persistent threat to international peace and stability" posed by Kim Jong-Un's regime.

The North carried out its sixth nuclear test -- and most powerful to date -- on September 3, sparking international outrage and a fresh round of sanctions.

More people and entities associated with Kim Jong-Un's regime have been blacklisted and the ceiling for payments that can be made to North Korea has been cut from 15,000 euros to 5,000 euros.

A total ban on EU investment in North Korea is now in force, along with a complete halt to sales of crude oil and refined petroleum products.

As part of efforts to ensure sanctions are effective, EU members will instruct their embassies in countries seen as a risk of evading North Korean sanctions to deliver formal warnings to comply.
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Sunday, 15 October 2017

Brexit a 'very big disadvantage' for UK, says Hillary Clinton

Hillary Clinton

Hillary Clinton said Brexit would put Britain at a "very big disadvantage" and force companies to move resources to continental Europe, in an interview aired today.

Britain leaving the European Union could cause serious disruption for the country as it tries to reorder its trading relationships, she told BBC television.

"I think it would be a very big disadvantage to Britain," said Clinton, the Democratic Party candidate who lost to Donald Trump in last year's US presidential election.

"No deal meaning no preferential trade deals, which means products in Britain would not have the kind of easy access to the European market that you've had under EU membership.

"It could very well mean that there would be more pressure on businesses in Britain, if not to leave completely, at least (to) also have sites and employment elsewhere in Europe.

"The disruption for Britain could be quite serious," the former US secretary of state said.
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Monday, 9 October 2017

Brexit talks stutter, but EU leaders might give Theresa May a break

Theresa May

European Union (EU) negotiators see no big breakthrough in a new round of Brexit talks from Monday nor when Theresa May attends a summit next week, yet leaders could offer the beleaguered British prime minister a hand, EU officials believe.

Talks which began on Monday in Brussels have a thin schedule - British Brexit Secretary David Davis is to meet EU negotiator Michel Barnier on Tuesday and again on Thursday. But Wednesday is blank on the timetable and officials will not touch on the knottiest outstanding problem - how much Britain pays the EU.
That all but rules out "miracles" on key divorce issues that Barnier's boss says are needed for May's 27 fellow EU leaders to agree to open the talks she wants on a post-Brexit free trade pact when they all meet in Brussels next Thursday and Friday.

The prime minister revived an increasingly sour dialogue two weeks ago by offering concessions in a speech in Florence. But talks that followed left big gaps on three core issues on which the EU demands "significant progress" before Barnier can so much as mention what happens after Britain leaves in 18 months time.

Yet such is the opposition to compromise that May faces within her own party that many EU diplomats think leaders could give her some hope at the summit to help her face down calls for Britain to simply walk out without a deal - an eventuality that the Europeans are nonetheless preparing for.
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Sunday, 8 October 2017

Rohingya crisis: EU, US weighing sanctions against Myanmar army leaders

Rohingya muslims

The European Union and the United States are considering targeted sanctions against Myanmar military leaders over an offensive that has driven more than 500,000 Rohingya Muslims out of the country, officials familiar with the discussions say.

Interviews with more than a dozen diplomats and government officials based in Washington, Yangon and Europe revealed that punitive measures aimed specifically at top generals were among a range of options being discussed in response to the crisis.

Nothing has yet been decided and Washington and Brussels may decide to hold off for now, the sources said. There are also discussions about increasing aid for violence-riven Rakhine state.

The active discussion of sanctions – not even on the table a month ago – shows how the dramatic exodus of Rohingya Muslims from Myanmar’s northwest is putting pressure on Western policymakers to take action.

While much of the outcry overseas has focused on Nobel laureate and Myanmar’s national leader Aung San Suu Kyi, few Western diplomats see an alternative to her leadership. Suu Kyi does not control the military, which still wields considerable power under Myanmar’s army-written constitution.
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Saturday, 7 October 2017

Theresa May to meet business chiefs on Brexit

Britain's Prime Minister Theresa May prepares her speech that she will deliver Wednesday at the Conservative party conference, at the Manchester Central Convention Complex in Manchester, England. (Photo: AP| PTI)

British Prime Minister Theresa May is to meet business chiefs on Monday in a bid to reassure them that the Brexit process is on track, following a bruising week for her leadership.

A plot to oust her by around 30 MPs in her Conservative Party went public yesterday, but cabinet colleagues refused to join the push.

The plot came after her showpiece speech to the centre- right party's annual conference on Wednesday -- intended to steady her leadership -- was plagued by mishaps.

A prankster managed to hand her an unemployment notice, a persistent cough left her almost unable to deliver her speech, while the set behind her started falling down.

Monday's business meeting at May's Downing Street office will come as British and European Union negotiators resume talks in Brussels in the hope of a breakthrough in the Brexit negotiations.

Sunday, 3 September 2017

Merkel to ask EU to end Turkey membership talks amid tense ties with Ankara

Merkel plays for time as Brexit moves into gear

German Chancellor Angela Merkel said on Monday that she would ask the European Union to call off membership talks with Turkey, amid escalating tensions between Berlin and Ankara.

"I don't see them ever joining and I had never believed that it would happen," she said during a televised debate with Martin Schulz, her Social Democratic rival in elections later this month.

She added that she would speak with her EU counterparts to see if "we can end these membership talks".

Merkel's tough stance came after Turkey arrested two more German citizens this past week "for political reasons", infuriating Berlin.

The arrests brought the number of German political prisoners in Turkish custody to 12, at a time when ties between the two NATO allies were already at an all-time low.

The plunge in relations began after Berlin sharply criticised Ankara over the crackdown that followed last year's failed coup attempt.
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Friday, 4 August 2017

Brexit: Ireland invites Indian companies to increase investment footprint

Photo: Shutterstock

Ireland is wooing United Kingdom (UK) -based Indian companies increasingly worried over the impending economic challenges in serving the European markets after the UK's proposed exit from the European Union, or Bexit, following a national referendum in this regard.

While Irish Premier Leo Varadkar has said that the UK can enter a customs union with the EU or even a deep-rooted Free Trade Agreement (FTA), Indian companies are apprehensive about the changes in cross-border trade, corporate taxation and logistics after Brexit.

Amid all this, Martin D Shanahan, CEO of IDA Ireland — the nations investment promotion body — was in India last month to meet companies in Mumbai, New Delhi and Bengaluru.

Ireland is uniquely positioned as one of the few feasible alternatives to Britain for doing business, Shanahan told Business Standard. Saying that the nation has a large English-speaking populace, a skilled workforce and commercial ties with the EU, Shanahan also laid stress on the fact that the country is much cheaper than destinations like Germany and Italy.

The country is also building on existing Indian companies which has a presence in Ireland. Among these, while companies in the IT segment such as TCS, HCL, Wipro and Mindtree dominate the landscape, pharma firms are also increasingly making their presence felt, Shanahan said.
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