By Jan Strupczewski WASHINGTON (Reuters) – The European Union’s Economic Affairs Commissioner appealed to world financial leaders on Thursday to keep a cool head over world trade disputes, noting protectionism posed the biggest risk to Europe’s robust economic growth this year. “The rhetoric and the announcements of recent months must be a concern for all of us for all of us who believe in the benefits of free trade, which of course must be subject to the proper rules and safeguards,” Commissioner Pierre Moscovici said in a speech at the Peterson Institute for International Economics. “The biggest risk we see is the rise of protectionism,” he said, speaking before a G20 meeting of finance ministers and central bankers from the world’s 20 biggest economies. The United States last month imposed import duties on steel and aluminium, mainly against China. In retaliation Beijing slapped import tariffs on more than a hundred U.S. products … [Read more...] about European Union urges ‘cool heads’ in global trade dispute
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Zuckerberg to meet with European Union regulator
Aoife White, Bloomberg News Published 5:13 p.m. ET April 16, 2018 Facebook Inc. co-founder Mark Zuckerberg is set to meet with one of the European Union’s leading regulators this week amid calls on both sides of the Atlantic for more oversight of digital privacy. Zuckerberg last week testified to the U.S. Congress in the wake of revelations that millions of Facebook users’ private information fell into the hands of British consulting firm Cambridge Analytica. He is scheduled to see European Commission Vice-President Andrus Ansip during a two-day trip to San Francisco starting Tuesday, the EU authority said. While the two men have met informally before — with Ansip tweeting a picture from Barcelona in February 2016 — it’s the first time Ansip, whose brief covers the digital single market, or any EU commissioner has reported a meeting with Zuckerberg in their online calendars. Facebook shares were up 0.3 percent to $165.08 at 12:20 p.m. in New York. … [Read more...] about Zuckerberg to meet with European Union regulator
European Union officials want answers on Facebook data scandal
By Stephanie Bodoni Published 4:06 pm, Friday, April 6, 2018 Photo: Fabrice Coffrini / AFP / Getty Images 2017 Image 1of/1 CaptionClose Image 1 of 1 Facebook executive Sheryl Sandberg will discuss the crisis with the EU justice commissioner. Facebook executive Sheryl Sandberg will discuss the crisis with the EU justice commissioner. Photo: Fabrice Coffrini / AFP / Getty Images 2017 European Union officials want answers on Facebook data scandal 1 / 1 Back to Gallery Facebook officials will be traveling — or at least making phone calls — to Europe to respond to concerns that the data of as many as 2.7 million people in the European Union might have been shared with a consulting firm that worked on Donald Trump’s presidential campaign. Chief Operating Officer Sheryl Sandberg is planing a call … [Read more...] about European Union officials want answers on Facebook data scandal
Spain has most inflexible working conditions in the European Union
Spain, along with Portugal, has the most rigid working conditions in the European Union, says a new report, which encourages the country to embrace more flexible ways of working. The stereotype often involves starting work late, taking two-hour-long lunches and having an afternoon siesta, but Spaniards actually work some of the longest and most inflexible hours in Europe, something which is having a serious impact on work-life balance, according to a new study released on Tuesday. Ten phrases you'll only hear at work in Spain Spain is, along with Portugal, the most inflexible country in the whole of the European Union when it comes to working hours and over 60 percent of Spaniards believe inflexible hours have a negative impact on their family lives, according to the study, "Reconciling work life and family life in Spain" conducted by Spain's Institute for Family Policies (IFP). The study collated data from Spain's National Statistics Institute, as well as the country's … [Read more...] about Spain has most inflexible working conditions in the European Union
European Union quizzes Italy on bank aid
The European Commission insisted there was no formal investigation at this point. EU photo: Shutterstock The EU is seeking information from Italy, Spain, Greece and Portugal to determine if they have illegally supported their frail banks, officials said on Tuesday. The issue is potentially serious since if the four cash-strapped eurozone countries are found at fault they would have to repay the state aid and find other funds to prop up the banks. "We can confirm that administrative letters have been sent to Spain, Italy, Portugal and Greece," European Commission spokeswoman Lucia Caudet said, insisting there was no formal investigation at this point. The Commission, the European Union's executive arm which polices the bloc's competition rules, wants to know if the four countries have allowed their banks to include Deferred Tax Assets (DTA) as part of their core capital. A DTA is effectively a loss which the bank keeps on its books to … [Read more...] about European Union quizzes Italy on bank aid