Volvo Cars abandons 2030 EV-only target
Swedish automaker Volvo Cars scrapped its target of going all-electric by 2030 on Wednesday, saying it now expected to still be offering some hybrid models in…
Economy
Latest reporting and analysis on economy.
‘Von der Leyen to announce Green Deal changes in coming weeks,’ German MEP says
European Commission President Ursula von der Leyen will announce planned changes to the EU's Green Deal in the coming weeks, Christian Democratic Union (CDU) MEP…
Overspending blows multi-billion-euro hole in French budget
France is facing "a serious slippage in public finances" over a €16 billion spending increase, ministers in the country have warned.
Irish could become climate migrants in Europe, minister claims
Irish people could end up as climate migrants in Europe should global warming continue, the country's climate minister has claimed.
Volkswagen warns of German plant closures
Volkswagen said on Monday it can no longer rule out plant closures in Germany as it pursues ways to save several billion euros in a cost-cutting drive at its namesake…
It is not Russia or greedy industry, it is the ECB that is driving inflation
With inflation stubbornly sitting above the target set by the European Central Bank (ECB), there seems to be no end in sight for the cost-of-living crisis.
Von der Leyen changes stance and becomes pro-nuclear cheerleader
European Commission President Ursula von der Leyen has said that Europe needed "more nuclear", marking a departure from her previous, more sceptical stance.
Report blasts Europe’s carbon capture policy
Oil Change International, a non-profit US organisation that focuses on exposing the impacts of fossil fuels and advocates for a transition to clean energy, has issued…
Ireland ‘looking into legality’ of EU-Israel trade agreement
Ireland is reportedly probing the legality of the European Union trade agreement with Israel ahead of a European Council meeting in September.
China ‘stuns’ EU spirits sector as it mulls tariffs on brandy
China has threatened European Union companies with retaliatory tariffs after accusing them of dumping brandy on the Chinese market, damaging its domestic industry.
Environmental NGOs sue EC over aviation and shipping addition to ‘green taxonomy’ system
A group of NGO's have said they are bringing a climate-based case against the European Commission at the European Court of Justice (ECJ) designed to have aircraft…
Energy shortage fears sink Google’s Irish data centre plans
Fears surrounding energy shortages in Ireland have scuppered plans for a new Google data centre in the country.
Chinese EV maker aims to build cars in EU to soften tariffs
A Chinese electric vehicle (EV) manufacturer and partner of Germany's Volkswagen has said it was looking to produce cars in the European Union to bypass new import…
Canada to slap ‘100 per cent tariff on Chinese EVs’, says PM Trudeau
Canadian Prime Minister Justin Trudeau has announced that Canada will impose a 100 per cent tariff on the import of Chinese electric vehicles (EVs).
EU cuts Baltic Sea Cod quotas despite fish-finger shortage fears
The European Commission has announced it is cutting fishing quotas for cod despite ongoing fears of fish-finger shortages in Germany.
Cash-strapped German Government ‘throwing money at unimpressive video games’
German economy minister Robert Habeck (Greens) is under pressure after announcing new subsidies for the digital gaming sector, despite the country's budget problems…
Nord Stream a ‘legitimate target’ for Ukraine, Czech President claims
The Nord Stream pipelines were a "legitimate target" for Ukraine's armed forces to sabotage or strike, the President of the Czech Republic Petr Pavel has claimed.
China, Belarus agree to strengthen cooperation in trade, security
China and Belarus have agreed to strengthen cooperation in a range of sectors including trade, security, energy and finance, according to a joint statement after…
EU sanctions ‘could spark German fish-finger shortage,’ industry chief warns
Possible sanctions on Russia could prompt a fish-finger shortage in Germany, local media in the country has reported.
Hungary energy supply ‘secure’ despite oil embargo, says foreign minister
Hungary's foreign minister Peter Szijjártó has stated the country's energy supply remained "secure" despite Ukraine curtailing its oil supply.
EU’s Borrell warns EU-China trade war could be ‘unavoidable’
“We mustn’t be naive, we have no interest to get into a trade war… but maybe it’s unavoidable, it’s also in the logic of things.”
China launches anti-dumping investigation into EU dairy products
Trade tensions between Brussels and Beijing appear to be deteriorating, with China opening an anti-dumping investigation into European Union subsidies for certain…
Germany wants to cut billions in subsidies for heat pumps
Due to the tight budgetary situation in Germany, the progressive government must significantly cut back on subsidies for installing heat pumps, which are a controversial…
German defence stocks down after report of freeze on Ukraine military aid
German defence stocks fell on August 19, after the German newspaper Frankfurter Allgemeine Sonntagszeitung (FAS) reported that the finance ministry would not approve…
‘Keep quiet’ Tusk tells Germany over Nord Stream revelations
Polish Prime Minister Donald Tusk has ordered "all initiators and patrons" of the Nord Stream pipelines to "keep quiet" following the revelation that Ukraine might…
Unprepared Greek Government reeling as wildfires sweep country
The Greek government has been left on the ropes as devastating fires sweep Athens and the Attica region, leaving a trail of destruction.
International arrest warrant for Ukrainian on Nord Stream explosions
German investigators have issued an international arrest warrant for a Ukrainian man they suspect of having been involved in the sabotage of the Nord Stream pipeline…
Italy’s Portofino wars over ‘illegal’ air conditioners
Citizens living in the Italian commune of Portofino have been reportedly warring over the presence of "illegal" air conditioning units.
OECD: Italy jumps to first place in G7 for real income growth
Italy has had the strongest growth in real household income per capita of all G7 countries in the first quarter of 2024, the Organisation for Economic Co-operation…
Trump blasts EU after Commissioner demands X censorship
"I know the European Union very well. They take great advantage of the United States in trade. They're not as tough as China but they're bad."