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'Differences too big,' says Merkel as EU budget summit fails

Saturday, February 22, 2020, 8:12 AM

'Differences too big,' says Merkel as EU budget summit fails

German Chancellor Angela Merkel said on Friday the two-day summit of EU leaders failed to agree on the bloc's next budget from 2021. "The differences were simply too big," she told journalists. The chairman of the summit, Charles Michel said: "Unfortunately, today we have observed that it was not possible to reach an agreement, we have observed that we need more time."

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Italy says no more EU budget rebates, Poland says ETS tax culled

Saturday, February 22, 2020, 8:07 AM

Italy says no more EU budget rebates, Poland says ETS tax culled

Italian Prime Minister Giuseppe Conte said the next EU budget must not contain rebates for net payers. His Polish counterpart, Mateusz Morawiecki, said an idea to replenish the 2021-27 budget with part of national proceeds from carbon emissions trading through the Emissions Trading System(ETS) was rejected. They spoke after an EU leader's summit failed to yield a deal on the bloc's next long-term budget.

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Dutch PM says next EU budget must acknowledge Brexit gap

Saturday, February 22, 2020, 8:06 AM

Dutch PM says next EU budget must acknowledge Brexit gap

The Netherlands is willing to pay more into the next EU-budget but the figures must take into account the Brexit hole, Dutch-PM Mark-Rutte said after the bloc's national-leaders failed to agree on their joint spending from 2021 in two-days of fraught talks. "We are willing to pay more because we are accepting that budget will go up with economic-growth and inflation," Rutte told reporters.

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Irish regulator readies draft decisions in first big tech privacy probes

Friday, February 21, 2020, 8:11 AM

Irish regulator readies draft decisions in first big tech privacy probes

The first draft decisions by Ireland's data privacy regulator on probes into some of the world's biggest technology firms will go for consultation with other EU regulators this year, the lead watchdog for the bloc said. The new-rules give regulators the power to impose fines for violations of up to 4% of a company's global revenue or EUR 20-million (GBP 17-million), whichever is higher.

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EU bets on industrial data, new rules to catch up in global tech

Thursday, February 20, 2020, 12:33 PM

EU bets on industrial data, new rules to catch up in global tech

The European Commission plans to create a single European-market for data, hoping that pooling the region's deep industrial expertise will help build technology powerhouses to catch-up with Silicon-Valley and state-backed Chinese-heavyweights. The plan proposed by the EU-executive is part of a digital market policy shake-up that also includes steps to rein in the data controlling powers of companies such as Google, Facebook and Amazon.

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Netflix CEO's new book to shed light on streaming giant's work culture

Thursday, February 20, 2020, 12:29 PM

Netflix CEO's new book to shed light on streaming giant's work culture

Netflix Inc Chief Executive Officer Reed Hastings has written a book based on interviews with current employees, which sheds light on the streaming giant's radical management culture and the controversial principles at the heart of the company's psyche. Several media outlets over the past few years have reported on the company's unconventional work environment.

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EU to unveil plans to boost European firms, rein in U.S. tech giants

Wednesday, February 19, 2020, 12:48 PM

EU to unveil plans to boost European firms, rein in U.S. tech giants

The EC will launch the first of a raft of proposals to help European-companies exploit their rich trove of industrial-data and at the same time rein in online-giants Facebook Inc, Alphabet Inc's Google and Amazon.com Inc. The data strategy and artificial-intelligence discussion papers are part of a bigger scheme to help European-companies better compete with U.S. tech giants and state-aided Chinese-companies in the digital-world.

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Jaguar-Land Rover has parts for 2 weeks' output in UK

Wednesday, February 19, 2020, 12:16 PM

Jaguar-Land Rover has parts for 2 weeks' output in UK

Jaguar-Land Rover has enough parts from China to maintain its British production for the next two-weeks, but not beyond that at the moment due to the impact of the coronavirus outbreak. "We are safe for this week and for next week. In the third-week we have parts missing," said Ralf Speth, chief-executive, JLR. "We have flown parts in suitcases from China to the UK."

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India overtakes UK & France to become 5th largest world economy, says report

Tuesday, February 18, 2020, 2:15 PM

India overtakes UK & France to become 5th largest world economy, says report

India has emerged as the fifth-largest world economy in 2019, overtaking the UK and France, as per a report by US-based think tank World Population Review. "India's economy is the fifth-largest in the world with a gross domestic product (GDP) of $2.94 trillion, overtaking the UK and France in 2019 to take the fifth spot," it said.

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U.S. gives Huawei another 45 days to buy from American suppliers

Friday, February 14, 2020, 8:02 AM

U.S. gives Huawei another 45 days to buy from American suppliers

The Trump administration issued a 45-day extension allowing U.S. companies to continue doing business with China's Huawei-Technologies-Co-Ltd. After adding Huawei to an economic-blacklist in May citing national security concerns, the U.S. Commerce Department has allowed it to purchase some American-made goods in a series of extensions that it says are aimed at minimizing disruptions for customers, many of which operate networks in rural America.

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