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The French government has introduced a stringent budget plan for 2025, targeting a deficit reduction through significant public spending cuts and tax hikes. Aiming to save 60 billion euros, the plan includes 2,200 job cuts predominantly in education and substantial reductions in the Ministry of Sports, justified by the end of the Olympic Games. In a bid to mitigate the financial crunch, the plan proposes "exceptional and temporary" tax increases on the wealthy and large corporations. Furtherm..

Ratan Tata, the iconic leader of the Tata Group, has passed away at the age of 86, leaving behind a legacy that transformed the Indian business landscape. Born in 1937, Tata led the conglomerate from 1991 to 2012, expanding it into a global powerhouse with significant acquisitions such as Tetley, Corus, Jaguar, and Land Rover. Under his stewardship, the Tata Group became a symbol of India's industrial prowess, with profits growing 50-fold and a substantial portion of revenue generated from int..

The European Union finds itself in a precarious position regarding its relationship with China, as it grapples with conflicting interests of protecting its markets and attracting foreign investments. In 2022, direct Chinese foreign investment in the EU fell by 10%, signaling a cooling economic partnership. Key sectors targeted by China, including automotive and biotechnology, are now at the forefront of EU-China negotiations. Despite resistance from Germany, the European Commission has decided..

In a landmark decision, a judge in Georgia has struck down a restrictive abortion law that banned the procedure after the detection of a fetal heartbeat. This law, passed by conservative Republicans in 2019, came into effect in 2022 following the Supreme Court's overturning of Roe v. Wade. The controversial law prohibited abortions as early as six weeks into pregnancy, a time when many women are unaware they are pregnant. Judge Robert McBurney of Fulton County ruled that the law violated the c..

Deutsche Bahn's plan to sell its logistics subsidiary Schenker to Danish competitor DSV has met with significant resistance from major unions. The railway and transport union EVG and the German Locomotive Drivers' Union GDL are vocal in their opposition, fearing job cuts and loss of national economic value. Schenker, which generated a €520 million profit in the first half of 2023, has been instrumental in helping Deutsche Bahn recover from the financial strains of the COVID-19 pandemic. The sa..

Bettina Orlopp, the newly appointed CEO of Commerzbank, finds herself at the center of a potential takeover by UniCredit, led by CEO Andrea Orcel. This proposal has sparked significant controversy among German politicians, the management, workforce, and the federal government. They fear the acquisition might lead to substantial job cuts and question the success of such hostile takeovers. Jens Weidmann, the chairman of Commerzbank’s supervisory board, plays a crucial role in these discussions...

Google has lodged a formal antitrust complaint against Microsoft with the European Commission, accusing the tech giant of anti-competitive practices in the cloud services market. The complaint highlights Microsoft's alleged coercion of customers into purchasing Azure by manipulating licensing terms for Windows Server, which reportedly imposes significant costs on rivals. This move comes as Google struggles to maintain its position in the cloud sector, lagging behind market leaders Amazon Web S..

A significant coalition of over 100 companies, including tech giants like OpenAI, Microsoft, and Amazon, has signed a voluntary AI Pact aimed at ensuring compliance with the forthcoming EU AI Act. This initiative seeks to facilitate the sharing of best practices, enhance AI literacy, and identify high-risk systems through workshops spearheaded by the EU's AI Office. The Pact emphasizes peer-to-peer networking and commitments that signatories must adhere to over the next year. Despite strong in..

Authorities are deepening their investigation into the origins of the pagers that exploded in Lebanon, resulting in significant casualties. Taiwanese prosecutors questioned executives from Gold Apollo, including CEO Hsu Ching-kuang, to ascertain their involvement. The scrutiny follows reports suggesting that Israel may have tampered with the devices before their shipment to Lebanon. The pagers, used by Hezbollah for internal communication, were allegedly manufactured by BAC Consulting in Hunga..

The European Commission is intensifying its scrutiny of Apple, focusing on the company's compliance with the Digital Markets Act (DMA). This regulatory framework aims to ensure fair competition by mandating interoperability among devices. Central to the Commission's concerns are Apple's App Store restrictions, which allegedly impose unfair fees on non-Apple music services. In response, the consumer group Euroconsumers has initiated a class action to reclaim €62 million for affected users. The..

The Court of Justice of the EU has ruled against Booking.com, declaring its price parity clauses illegal. This decision marks a significant step in addressing the company's dominant position in the market, categorizing it alongside major tech giants like Apple and Amazon as a 'gatekeeper'. National authorities and the European Commission have imposed fines on Booking for violating the Treaty on the Functioning of the EU and the LDC, which has prompted the company to eliminate its price restric..

Amid escalating trade tensions, EU Trade Commissioner Valdis Dombrovskis and Chinese Commerce Minister Wang Wentao are holding crucial talks in Brussels. The discussions center around proposed tariffs of up to 35.3% on Chinese electric vehicles, aimed at protecting European automakers from unfair competition. Wang's visit follows meetings with German and Italian officials, as the EU member states prepare for a decisive vote. The debate is underscored by broader geopolitical issues, including C..

A wave of stricter anti-smoking regulations is sweeping across Europe. Sweden now bans smoking on restaurant and bar balconies, while France plans to prohibit smoking on beaches, public gardens, and outside schools. The EU recommends banning cigarettes, e-cigarettes, and heated tobacco in outdoor areas like playgrounds and healthcare facilities to protect youth from second-hand smoke and nicotine addiction. The goal is to achieve a 'tobacco-free generation' by 2040. Countries like Ireland and..

The port of Zeebrugge in Belgium currently faces a significant backlog of Chinese electric vehicles due to a combination of oversupply and high tariffs imposed by the European Union. Anne Degrauw oversees the processing center, which has seen an influx of vehicles, with reports indicating that up to three million cars are handled annually. Despite advancements in technology, the demand in Europe remains weak, resulting in many vehicles remaining unsold. François Simonart, a sales manager at I..

Harland & Wolff, the renowned shipyard that built the Titanic, faces insolvency once again, marking its second financial crisis in five years. The parent company, H&W Group Holdings PLC, has been unable to secure sufficient funding, leading to its recent bankruptcy filing. This situation directly impacts 50 to 60 employees, although the operations at its four shipyards in Northern Ireland and Great Britain will continue. The company, which has a rich history spanning 163 years, is now under the..