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OpenAI, Europe’s answer will be launched in 2023. Now, it’s worth €6bn
Arthur Mensch is a Paris celebrity. The entrepreneur, who is also the chief executive officer of Mistral (Europe's answer to OpenAI), has become a celebrity not only in Silicon Valley but in his own country.
Mistral, named after the…
UK and EU to hold first summit for improved post-Brexit relations
In the next few months, Britain and the EU will hold their first ever bilateral summit as part of Labour Premier Sir Keir starmer's efforts to "reset", post-Brexit relationships with Brussels.
Officials from the EU and Britain have…
Labour seeks joint declaration with EU regarding wide-ranging Security Pact
The foreign secretary, David Lammy has stated that Labour wants a broad joint declaration with the EU in order to introduce a comprehensive security pact, covering defence, energy and pandemics, as well as the climate crisis.
Lammy said…
Shein and Temu could be hurt by EU import duties on cheap goods
The EU has plans to charge customs duties on low-cost goods. This could affect imports from online retailers, and a London listing that was hoped for by fast-fashion seller Shein.
This potential change is a response to growing concerns…
Italian military signs €20bn deal for new tanks
Two of Europe's largest arms companies will form a joint venture worth €20 billion to build tanks. Leonardo and Rheinmetall announced that they would jointly develop, industrialise, and market a fourth generation main battle tank to be used…
Fears about French bonds cause the EU inflation rate to fall
The European Central Bank (ECB) is "very worried" that member states are not adhering to the fiscal rules of Brussels. This is because the bank fears it will be unable to use its emergency tool to prevent a French bond market crash after…
Report warns that EU job deal unlikely to benefit UK professionals
The external auditor of the EU has warned that a proposed agreement between the UK and EU allowing lawyers, bankers, or architects to work more easily across the continent will not solve the mobility issues faced by professionals after…
Flood of cheap Russian fertilisers’ threatens Europe’s food safety
The crop nutrition industry warned that a flood of cheap Russian fertilizer could drive European producers out or off the continent. This would pose a threat to food security on the long term.
After Russia's invasion of Ukraine at full…
Lobby group warns that EU trade is not working for UK businesses
The head of Britain's biggest business organization has warned that the next UK government should stop "walking around on eggshells" when it comes to improving EU trade relations.
Shevaun Haivland, the director-general of British…
Apple blames EU regulations for delaying the launch of AI features in Europe.
Apple has delayed the launch of three new artificial-intelligence features in Europe due to European Union rules on competition, which require that Apple ensure rival products and services are compatible with its devices. The features are…
As the election campaign heats up, EU asks France to reduce its spending
Brussels will demand that the new French government cut spending or increase taxes by billions of dollars this year. The hard-right is vying to win in upcoming parliamentary elections.
The European Commission has reprimanded France, the…
UBS: Britain could become an ‘island’ of stability as France’s debt crisis…
UBS warns that Britain could become an "island of stability" on the financial markets, as France is roiled by Emmanuel Macron’s debt binge.
Shahab Jalinoos, UBS, said that the UK's reputation of being Europe's "problem-child" could be…
EasyJet, Ryanair and Brussels criticise each other in net zero row
EasyJet and Ryanair have reacted angrily to a recent decision by the EU that long haul flights would be excluded from their crackdown on jet emission.
Budget airlines said that the announcement made on Wednesday will be a mockery to…
Labour seeks closer EU relations on carbon tax
Senior Labour figures said that if they win the general elections next month, Labour would explore how to realign Britain's carbon regime. This move would be welcomed but angered some Brexiters.
Since the Brexit in the UK, there are…
In May, Russia surpassed the US as Europe’s gas supplier.
In May, Europe's imports of Russian gas overtook those from the US. This was the first time since almost two years that the US had surpassed the European region in terms of its fossil fuel consumption.
The reversal was due to one-off…
Serbia gives green light to Rio Tinto Lithium mine
Two years after Belgrade cancelled the project, Serbia is ready to give Rio Tinto green light to build Europe's biggest lithium mine. This will provide a major boost to the electric vehicle industry on the continent.
Aleksandar Vucic,…
Tesla will raise prices following EU crackdown on Chinese Electric Cars
Tesla warned that it would be forced to increase prices in European Union nations after Brussels announced new trade tariffs for electric cars imported by China.
The US company warned customers in Germany and France to order soon, or…
Import tariffs to be imposed on Chinese electric cars
The EU will notify China this week that it is imposing tariffs on imports of electric vehicles, kicking off a possible summer trade war between Beijing and the EU.
After a long investigation into China's subsidies for car manufacturing…