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Showing posts with the label Europe News

Europe News, by NYT | Russia- Ukraine Crisis, by NYT | July 18, 20

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  Source: nytimes.com Ukraine-Russia: Latest News Matthew Mpoke Bigg, Valerie Hopkins, Marc Santora 27-35 minutes Zelensky’s decision to replace two top officials spotlights a shadow war over security networks. Image Credit... Aleksey Filippov/Agence France-Presse — Getty Images Image Credit... Sergey Dolzhenko/EPA, via Shutterstock The decision by President Volodymyr Zelensky of Ukraine to replace his head of domestic intelligence and another top official has cast a rare spotlight on the shadow war between Russia and Ukraine, two old adversaries seeking to penetrate their rival’s security networks and gain critical intelligence. While artillery duels and missile strikes have been the hallmark of the war ravaging Ukraine and the armies of both sides, a clandestine battle is taking place to root out and neutralize anyone deemed to be collaborating with the enemy. Mr. Zelensky alluded to t

Europe News, by CNBC | A Can of Coca-Cola For $13? Prices Are Rising on one of Europe's Most Popular Islands | July 18, 2022:

 Source: cnbc.com Lucy Handley 6-7 minutes Yet Ibiza's visitors are happy to spend big, Pundole said. "Ibiza is very expensive, it's always been expensive," he said. "But people are willing to pay." Rising prices While hippies were drawn to Ibiza for its rumored " magnetic " vibrations in the 1960s, it was arguably British-Australian Tony Pike who put the island on the map when he opened the Pikes Hotel, now known as Pikes Ibiza , in 1980. The small hotel transformed a 500-year-old estate in the hills into a party haven. Pike's rich and famous friends, such as Freddie Mercury, George Michael and Kylie Minogue, stayed at the hotel — and it's still a place that draws crowds to its rooms, restaurant, and dancefloor. The 1980s also saw the rise of clubs such as Amnesia, Space (now home to Hi Ibiza ) and Pacha, with the latter currently charging 13 euros ($13) for a regular can of Co

Europe News | Germany | Monday, March 14, 2022:

 Source:   reuters.com Germany plans supplementary budget to cope with Ukraine impact - sources March 14, 20225:44 AM GMT-5Last Updated 12 min ago 1 minute BERLIN, March 14 (Reuters) - German Finance Minister Christian Lindner will present a draft budget for 2022 to the cabinet on Wednesday but will later introduce supplementary fiscal plans to reflect the impact of the war in Ukraine on the economy, ministry sources said. The draft budget for 2022 that Lindner will present envisages net new debt of 99.7 billion euros ($109.4 billion) in the core budget, plus 100 billion in credit authorisations for a planned special fund for the military, they said on Monday. The plan also sees net new debt falling to 7.5 billion in 2023, before rising to 13.7 billion in 2026, the ministry sources said. ($1 = 0.9116 euros) Reporting by Holger Hansen and Paul Carrel

Europe News: German court says the European Central Bank now needs to prove its bond buying is needed

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Silvia Amaro 3-4 minutes - Source: CNBC The chairman of the German constitutional court Andreas Vosskuhle speaks on May 5, 2020 at the Constitutional court in Karlsruhe, to give out the court’s ruling that the European Central Bank must clarify a key bond-buying scheme to support the eurozone economy is “proportionate” or else Germany’s Bundesbank central bank may no longer participate. SEBASTIAN GOLLNOW A top German court ruled Tuesday that the European Central Bank ’s bond buying did not respect the “principle of proportionality,” suggesting the euro zone’s central bank went too far with its mandate. German judges assessed the ECB’s quantitative easing (QE) program, or PSPP , which was introduced in 2015 until 2018 and then restarted in late 2019. The idea behind the initiative was to prop up the euro zone economy by keeping borrowing costs low across the euro zone. However, a new ruling said the German government faile

Europe Bank: Deutsche Bank warns coronavirus could impact its capital target as profit falls from a year ago

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Silvia Amaro 3-4 minutes - Source: CNBC Christian Sewing, chief executive officer of Deutsche Bank AG, pauses as Germanys biggest bank announces full year earnings in Frankfurt, Germany, on Friday. Feb. 1, 2019. Deutsche Banks revenue contracted for an eighth straight quarter in the final months of last year, complicating Chief Executive Officer Christian Sewings plan to turn around the lender through cost cutting. Photographer: Krisztian Bocsi/Bloomberg via Getty Images Krisztian Bocsi | Bloomberg | Getty Images Deutsche Bank  said it expects to report a fall in net income in the first quarter from a year ago, and will set aside a significant amount for potential loan losses when it reports full earnings Wednesday. It also warned that it could miss its capital target in the future, as a result of Covid-19. In a prerelease Sunday, the German bank said it expects to report net income of 66 million euros ($71.56 million) fo

Europe News: The EU's biggest post-Brexit fight is about to get real

Silvia Amaro 4-5 minutes - Source: CNBC BRUSSELS — Where will the money come from? This is the contentious question that the EU needs to answer every seven years — and this time around, the issue is even more complicated. The U.K., which has been one of the EU’s key contributors, left the bloc on January 31. Over the last few years its net contribution to the EU has been around £7.8 billion per year and, as such, the U.K.’s departure could leave the group with a shortfall of around £55 billion ($71.3 billion) over the next seven years. The remaining 27 EU countries are now scratching their heads and trying to find ways to make up the difference. In an emergency meeting Thursday, the bloc’s leaders will seek to agree on its next budget, but there are expected to be long and arduous fights between those paying the highest amounts to the EU and those receiving the most money from it. “The situation won’t get better over time ... We

Europe News: The EU is seeking to heal years of infighting with new spending rules

Silvia Amaro 5-6 minutos - Source: CNBC It’s been a problem for more than 20 years, but the EU is finally looking at how to update its rules on government spending. The European fiscal rulebook has divided northern and southern Europe since the laws were established in 1993. Southern nations argue that the rules are too complex to implement, and northern countries believe the problem is a lack of enforcement rather than the rules themselves. So, the European Commission, which oversees the implementation of the fiscal rules, announced Wednesday steps to update its fiscal rulebook. Currently, EU member countries should not have public debts above 60% of their annual GDP (gross domestic product) nor government deficits above 3% of their GDP. The plan now is to discuss ideas with think tanks, academics and market participants until the end of the year, to form a picture on how to ramp up compliance with these rules — given that countrie