The European Union has announced an ambitious financial commitment of €200 billion to augment its artificial intelligence (AI) capabilities. European Commission President Ursula von der Leyen outlined this investment at the Artificial Intelligence Summit in Paris, positioning the EU to be more competitive with global AI leaders such as the United States and China. According…
The European Union has signaled its readiness to take retaliatory measures in response to any U.S. tariffs on European imports, an EU official announced to ANSA news agency. This development comes as U.S. President Donald Trump indicated his plans to impose tariffs, following similar actions against Mexico, Canada, and China. The unnamed EU official asserted…
Brussels and London have formulated contingency plans to counter potential tariff increases on European Union and UK goods by the United States under the administration of President Donald Trump, Politico reported on Wednesday. According to the report, European and British officials are bracing for a possible trade conflict with the US, signaling readiness to act…
Thanks to their international influence and the high purchasing power of the American consumer, the largest US retailers are now at the top of the list of the most profitable firms globally. Outside the United States, the largest share of the most profitable companies is mainly represented in the energy sector – many of which…
Austrian Interior Minister Gerhard Karner said that Vienna plans to lift its veto on expanding the Schengen zone, which means that Romania and Bulgaria will be able to join it fully, Deutsche Welle reported. According to the publication, the Austrian side may officially announce its decision at a meeting of EU interior ministers in Brussels…
The annual rate of consumer price inflation in the Organisation for Economic Co-operation and Development (OECD) countries accelerated to 4.5% in October, up from 4.4% in the previous month. Before that, inflation had been weakening for four consecutive months. The report said price increases strengthened in 16 countries and slowed in 14 in October. Energy…
Europeans fear that a volatile trade environment will emerge in the United States after Donald Trump’s re-election. They are not ruling out protectionism and higher prices for European products. The EU is ready to work with Washington. The bloc sought to demonstrate this unity at a meeting of trade ministers in Brussels on Thursday. European…
In a significant move to combat high electricity costs, a Bulgarian-led proposal aimed at enhancing energy interconnections in Southeastern Europe received broad support at COP29 in Baku on Wednesday. Initiated by Bulgarian Energy Minister Vladimir Malinov and endorsed by the leaders of eight countries, the project seeks to better integrate renewable energy sources and lower…
According to the data of the World Gold Council (WGC), in the third quarter of 2024, the total demand for gold (including OTC investments) increased by 5% compared to the same period of the previous year and reached 1,313 tons. This strength was reflected in the price of gold, which reached new record highs this…
Eurozone GDP rose 0.4% in the third quarter of 2024 from the previous three months, according to a report by the European Union’s statistical office, which presented preliminary data. In annual terms, the Eurozone economy grew by 0.9%. According to Trading Economics data, experts on average estimate that GDP would grow by 0.2% quarterly and…
