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The Latest Breaking News from European Commission

Is the EU's €300 billion plan to get rid of Russian gas good against global warming?

The European Union has outlined its REPowerEU energy plan which will invest 300 billion euros in energy infrastructure by 2030 to end its reliance on Russian oil and gas.

Radio France Internationale

EU sues five countries over failure to implement standards for audiovisual media

The European Commission on Thursday said it had referred Czech Republic, Ireland, Romania, Slovakia and Spain to the EU Court of Justice over their failure to implement the revised directive for audiovisual media services.

Reuters

G7 finance meeting set to be dominated by reconstruction of Ukraine

G7 finance ministers are meeting in Germany on how to help Ukraine pay its bills, with reconstruction after the war, surging global inflation, climate change, supply chains and the impending food crisis high on the agenda.

Radio France Internationale

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EU plans 9 billion euros joint borrowing for Ukraine, more for reconstruction

The European Commission proposed on Wednesday an extra 9 billion euros ($9.5 billion) in EU loans to Ukraine in 2022 to keep the country running and to set up a 'RebuildUkraine' Facility of grants and loans, modelled on the EU's own recovery fund.

Reuters

Reports: 4 European nations to build North Sea wind farms

Danish media say four European Union countries plan to build North Sea wind farms capable of producing at least 150 gigawatts of energy by 2050

The Independent UK

EU plans ‘massive’ increase in green energy to help end reliance on Russia

European Commission says extra €210bn needed over next five years to pay for phasing out of Russian fossil fuels

The Guardian - UK

Morning Brief: Top Financial Stories Dominating on Wednesday, May 18

CNBC Toyota Looks To Develop Hydrogen Mobility In Europe

Benzinga

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EU rushes out $300 billion roadmap to ditch Russian energy

The European Union’s executive arm is moving to jump-start plans for the EU to abandon Russian energy amid the Kremlin’s war in Ukraine

The Independent UK

EU offers 9 billion euro loan to Ukraine, prepares reconstruction -Commission

The European Commission proposed on Wednesday a 9 billion euro ($9.5 billion) loan to Ukraine to keep the country going as it struggles to fend off the Russian invasion and wants to set up a reconstruction facility for after the war.

Reuters

Microsoft Makes Amends Post European Commission's Antitrust Complaints

Microsoft Corp (NASDAQ:MSFT) launched a new initiative to better assist European cloud companies hosting Microsoft products like Windows and Office 365 apps after facing flak, Bloomberg reports. Microsoft will also provide greater licensing flexibility for customers. Microsoft faced a formal inquiry from the European Commission into its alleged antitrust practices. The commission…

Benzinga

Morning mail: Labor lead narrows, Ukraine surrenders Azovstal, Liane Moriarty’s writing trick

Wednesday: Guardian Essential poll has the Coalition closing the gap with Labor. Plus: outrage at Canva’s Russian operations

The Guardian - AU

Welsh FM and EU chiefs urge Boris Johnson to back down from Brexit deal threat

THE European Commission (EC) has urged the UK to “engage” over the Northern Ireland Protocol as the Welsh first minister hit out…

The National (Scotland)

EU Says Final Decision Yet To Be Taken On Terminating Valneva COVID-19 Vaccine Deal

The European Commission said that no final decision had been made about the possible termination of a contract with Valneva SE (NASDAQ: VALN) to supply its COVID-19 vaccine to the European Union.

Benzinga

Why Valneva's Shares Are Plunging Today Premarket

Valneva SE (NASDAQ:VALN) warned it might have to reconsider its FY22 financial guidance after the European Commission informed the company of its intent to terminate an advance purchase agreement (APA) for its VLA2001 COVID-19 candidate vaccine. In November, the company signed the APA with the European Commission to supply up to 60 million doses of…

Benzinga

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The Guardian - UK

EU growth forecast cut as war in Ukraine fuels inflation

European Commission downgrades growth prospects from 4% to 2.7%, while economy slows rapidly in China

Reuters

EU, U.S. raise cooperation to counter Ukraine war disruption

The European Union and the United States agreed on Monday to cooperate more closely to counter disrupted supply of industrial commodities and food caused by Russia's invasion of Ukraine and to combat disinformation from Moscow.

Reuters

Hungary still has no acceptable proposal from EU on Russia oil sanctions -minister

Hungary has not received any new serious proposal from the European Commission regarding oil sanctions on Russia since a visit of the Commission president to Budapest earlier this month, Hungary's foreign minister said on Monday on his Facebook page.

Belfast Live

Belfast council supports calls for NI to vote in EU elections again

Academics at City Hall point to Turkish Cypriot model

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Reuters

EU to offer Ukraine new loans to plug immediate needs

The European Commission is set to propose on Wednesday a new package of financial aid to Ukraine including new loans to provide immediate liquidity to Kyiv and commitments for the long-term financing of the country's reconstruction, officials said.

Asharq Al-Awsat

EU’s Russia Sanctions Effort Slows over Oil Dependency

The European Union’s efforts to impose a new round of sanctions against Russia over the war in Ukraine appeared to be bogged down on Monday, as a small group of countries opposed a ban on imports of Russian oil. Since Russia invaded on Feb. 24, the bloc has implemented five…

The Independent UK

EU's Russia sanctions effort slows over oil dependency

The European Union's efforts to impose new sanctions on Russia over the war in Ukraine appear bogged down

The Independent UK

Former Brexit minister rejects protocol claim levelled by Irish premier

Lord Frost said Micheal Martin was ‘simply wrong’.

The Guardian - UK

Europe’s growth forecast cut as Ukraine war drives up inflation; diesel price hits record – as it happened

Rolling coverage of the latest economic and financial news

The Independent UK

Former Brexit minister rejects protocol claim levelled by Irish premier

Lord Frost said Micheal Martin was ‘simply wrong’

The Independent UK

Spain signs off on plans to temper volatile energy prices

The Spanish government has approved a new plan aimed at reining in soaring energy prices

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