Norway’s national oil company’s profits double amid war on Iran
The company reported adjusted earnings before tax of $11.48 billion (€10.06 billion) for the three months to the end of June.
Economy
Latest reporting and analysis on economy.
Telefónica cuts one in six jobs at its German mobile operator
The O2 owner has set aside hundreds of millions of euros to shrink its workforce and retail network before the end of the year.
‘VPNs are lawful technical tools,’ says EU Court in landmark Anne Frank copyright ruling
The decision is notable because VPNs have increasingly come under political and regulatory pressure in Europe.
European Commission sets up expert group on AI
The bloc's renewed social agenda also promises a law on quality jobs before the end of the year, though the EU remains far short of its 2030 poverty and training…
Macron blocks environment minister’s exit over pesticide law
Barbut announced this morning that she would resign after accusing the government of reneging on commitments to oppose provisions allowing the possible return of…
Rogue OpenAI AI models escaped sandbox and hacked other company during security test
The company said it had recorded more than 17,000 attacker events during its investigation.
Spain backs Hernández de Cos in first bid for ECB presidency
Madrid has never held the eurozone's top monetary post and is moving early as speculation grows over Christine Lagarde's departure.
Germany turns to Azerbaijan for more gas as Merz signs strategic partnership
Ilham Aliyev has blamed European banks' retreat from fossil fuel lending for limiting how much extra gas Baku can send west.
Sweden blocks 11 offshore wind farms, approves two
Ministers also greenlit one large onshore wind project, aiming to balance electricity needs with military priorities in strategically sensitive waters.
European Commission fines AliExpress over illegal and unsafe goods
The Chinese platform must submit a plan to fix its systems by October or face a heavier penalty.
European Commission slows carbon cuts and extends free permits for industry
Heavy industry would keep free pollution permits until 2038 under the biggest overhaul of the European Union carbon market since it began in 2005.
‘Made in EU’ password manager shares codebase with Russian State-certified firm
The product originated in Arkhangelsk, northwest Russia, in June 2014, founded by Russians Ilya Garakh and Andrey Pyankov.
Ten EU members demand looser carbon market rules as Commission prepares to give ground
Italy and Poland lead a group with just enough weight to block the reform in the Council of the European Union.
EU orders Google to share search data and open Android to AI rivals
The Commission said the changes are intended to curb Google's market power and ensure fair competition in Europe's digital economy.
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Poland starts construction of deepwater Baltic port to rival Hamburg
The dual-use terminal will be able to handle large ocean-going vessels and is intended to enhance Poland's logistics infrastructure.
Uber launches takeover bid for Germany’s Delivery Hero
Uber's cash offer values the Berlin group at $14.8 billion, with Glovo and 13 other markets carved out to a New York investment firm.
US Treasury unveils dollar coin bearing Trump’s image
The gold-coloured piece marks 250 years of American independence and is expected to reach collectors in the autumn.
Brussels accepts X compliance plan after EU board calls it inadequate
Musk's platform has six months to rebuild its advertising archive and open its data to researchers, while it fights the underlying fine in the EU courts.
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US ambassador urges EU to cut regulation, says current model is ‘damaging European consumers’
Andrew Puzder defended the recently negotiated US-EU trade agreement while warning that Europe's biggest economic challenges are largely self-inflicted.
Generative AI use weakens memory and critical thinking
According to a study of 1,222 people by researchers at Carnegie Mellon University, Oxford, MIT and UCLA.
One of Germany’s oldest breweries goes bust after more than 350 years
Eichbaum Brewery, founded in 1679 in the town of Bad Windsheim in Bavaria, announced that it will cease production later this year.
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France idles reactors on cooling rules as Spanish and US plants run right through the heat
EDF took the plants offline to meet French river-discharge rules, not because the reactors could not cope with the heat, while the same technology kept operating…
EU to limit children’s access to social media
The EU plans to implement phased access to social media for children, with recommendations for supervised use under 13, while emphasizing platform safety features…
UK expands online safety rules as watchdog orders Big Tech crackdown on scam adverts
Firms that fail to comply could face fines of up to £18 million (€21.1 million) or 10 per cent of their global annual revenue.
Massive left-leaning bias found with AI models
Only models from xAI’s Grok family sat near the political center. None leaned to the Conservative side.
Brussels charges Meta over ‘addictive’ design of Instagram and Facebook
"Protecting the physical and mental health of Europeans must be a priority for social media platforms".
Volkswagen to slash model range in half, cut production by 10 per cent
The move is part of a broader far ranging cost-cutting and efficiency drive as the group confronts a sharp downturn in its core European and Chinese markets.
Parliament clears digital euro talks after right-wing groups force a vote
A third file in the same single currency package, on the legal tender status of euro banknotes and coins, was not contested.
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German company bankruptcies highest in over two decades
In the April-to-June period, there were 4,996 insolvencies of partnerships and corporations.
Russia bans diesel exports after Ukrainian strikes on refineries
Shipments made under pre-existing intergovernmental agreements, including a supply deal with Mongolia, are exempt.