Tag Archives: EU

Brexit: EU pushes ahead with plans to take control of London’s clearing business

The European Union is pushing ahead with plans to assert control over the clearing of euro-denominated derivatives, a politically charged step that could force firms to move from London to the EU after Brexit. The European Commission has drafted a law for firms deemed systemically important to the EU financial system to accept direct oversight by the bloc’s authorities, or… Read More »

EU Probes Qualcomm-NXP Semiconductor Mega-Deal

The EU launched an antitrust probe Friday into US semiconductor maker Qualcomm’s $47-billion purchase of Dutch rival NXP, the biggest ever in the sector. The European Commission said the “in-depth investigation” was due to concerns that the deal would affect competition and lead to higher prices for consumers. The deal announced in October was aimed at extending Qualcomm’s… Read More »

Support for EU freedom of movement rules ‘eroding’

One of the most senior Dutch government ministers has said a fundamental EU principle, freedom of movement, needs to be radically reformed. Deputy prime minister Lodewijk Asscher said support was falling across Europe over the way it has been implemented. Free movement, which allows any citizen of an EU country to work anywhere across the bloc, had led… Read More »

EU Brexit chief sees special care for financial service ties

The European Union’s Brexit negotiator Michel Barnier said on Saturday that the EU will demand “special vigilance” before letting British financial firms access the bloc because of the large risk London could pose to the EU’s financial stability. Responding to a report in the Guardian which said he had told EU lawmakers that he wanted a special deal… Read More »

Post-Brexit deals ‘not at price of EU free trade ties’

Post-Brexit trade deals should not “come at a price” to existing agreements with other EU nations, ex-chancellor George Osborne says. But he told the BBC’s Andrew Marr the UK needed a “hard-headed assessment” of issues such as the EU customs union. On the same programme, International Trade Secretary Liam Fox did not reveal his stance on the customs… Read More »

EU extends Russia sanctions over Ukraine

EU leaders have agreed to extend economic sanctions against Russia for six more months. Earlier, France and Germany complained that the Minsk peace deal for Ukraine was still not being fulfilled. Russia’s military interventions, first in Ukraine, then in Syria, were high on the EU summit agenda in Brussels. But Italy and Slovakia want sanctions, that have cost… Read More »

Turkey’s Erdogan takes tough EU line after PM quits

Turkey’s president has told the EU it will not change its anti-terror laws in return for visa-free travel. “We’ll go our way, you go yours,” Recep Tayyip Erdogan said. The EU says Turkey needs to narrow its definition of terrorism to qualify for visa-free travel – which is part of a larger deal between the sides aimed at… Read More »

Migrant crisis: EU ‘to back’ visa-free travel for Turkey

The European Commission will give conditional approval for Turks to travel without visas to Europe’s passport-free Schengen area, sources have told the BBC. Visa liberalisation was offered in return for Turkey taking back migrants who crossed the Aegean Sea to Greece. But Turkey must still meet EU criteria, and the visa deal needs approval by the European Parliament… Read More »

Mobile phone roaming charges cut within EU

UK consumers using their mobile phones in Europe will see reductions in their bills from Saturday. Further caps are coming into effect on roaming – or connection – charges within all 28 countries of the European Union (EU). From June next year, roaming charges in the EU will be abolished completely. The government said that those making calls,… Read More »

Five EU nations agree tax crackdown in wake of Panama leak

Leading financial institutions have welcomed a new crackdown on international tax dodging agreed by Europe’s biggest five economies. Tax and law enforcement agencies in the UK, Germany, France, Italy and Spain have agreed to share data. But critics said it would only work if the US and other nations signed up. Meanwhile, UK Chancellor George Osborne told the… Read More »