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EU approves €50bn package of support for Ukraine

After being pressed by his colleagues, Viktor Orban, the Hungarian prime minister, rescinded a veto he had previously taken on the financial aid package. The compromise reached at an emergency EU summit came after an unprecedented…

Germany is on the brink of recession

Germany's economy contracted by 0.1% in 2023. This means that it is almost certain to have had the worst performance of the G7 club. The largest economy in Europe has, however, avoided a technical contraction -- defined as two…

Dyson loses €176mn EU damages claim

Dyson lost its battle to get compensation of €176mn from Brussels for damages that it claimed were caused by energy label tests that penalised their vacuum cleaners. The British engineering company sought redress with the European…

EU prepares €20bn Plan B to Fund Ukraine

The EU is working on a plan to provide Ukraine with a financial back-up of up to 20 billion euros, using a debt-structure that will allow it avoid Viktor Orban's objections about funding this war-torn nation. Officials are looking for…

EU Ministers Agree on Tough Debt Reduction Rules

As part of an agreement to gradually overhaul the budget framework of the EU, EU finance ministers have given in to German demands for strict debt-reduction regulations. After months of haggling the package grants EU member states more…

Adobe and Figma abandon merger proposal of $20bn

Adobe abandoned its $20bn proposed acquisition of Figma's product design software, claiming that there was no "clear path" to obtain necessary regulatory approvals from UK and EU watchdogs. The deal was investigated by both UK and EU…