Author: staff

The US government has hit back at Brussels after the European Commission slapped on Thursday a €890 million fine against Google for breaching the bloc’s Big Tech rulebook, warning that the sanction puts the EU-US trade deal at risk. The Commission announced the first fine against Google under the Digital Markets Act (DMA), concluding a two-year investigation into the company’s alleged unfair practices — notably self-preferencing its own services in search results and unfairly treating app developers. The sanction predictably drew the ire of Washington, which views the EU’s digital rules as unfairly targeting American companies and has repeatedly equated…

During a meeting with the EU’s 27 envoys on Wednesday, the newly appointed head of the Commission’s trade department, Ditte Juul Jørgensen, said that although Brussels was confident Washington would respect the commitments listed under the Turnberry deal, it was ready to react if it didn’t, three EU diplomats familiar with the conversation told POLITICO.  One added that ambassadors would be ready to convene an extraordinary meeting next week “to talk strategy and discuss possible countermeasures.”  In the meantime, though, nobody knows when exactly the next tariffs will come.  “We’re not focused on a particular timeline. We’re focused on fulfilling…

Just six weeks ago, the European Central Bank appeared to be winning its fight against inflation. Oil prices had fallen sharply after a ceasefire between the US and Iran, inflation was cooling faster than expected and the eurozone economy was proving more resilient than initially feared. By Thursday, the conversation in Frankfurt had changed completely. Christine Lagarde mentioned energy prices, particularly oil, repeatedly during her press conference, underscoring how rapidly geopolitical developments have reshaped the ECB’s outlook. While policymakers insist their September decision will remain data-dependent, the message was clear: the path of oil prices may now be the single…

“C’est un message assez fort adressé à Google de dire : nous attendons de vous une proposition sérieuse en matière de conformité”, a-t-elle souligné. “L’objectif de notre réglementation est de garantir le bon fonctionnement des marchés, et non de punir qui que ce soit. Mais, bien sûr, dans certains cas, nous devons prévoir des sanctions.” La Commission a indiqué que Google avait déjà commencé à tester certaines mesures correctives — notamment des modifications apportées à la manière dont sont présentés les services gratuits, tels que les achats, les hôtels et les vols —, les qualifiant de “progrès substantiels”. Les discussions…

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“It is quite a strong message to Google to say: we expect from you a serious proposal in terms of compliance,” she said. “The intention of our regulation is to ensure well-functioning markets, not to punish anyone. But, of course, in certain cases, we need to come up with sanctions.” The Commission said Google has already begun testing some fixes, including changes to how it displays free services like shopping, hotels and flights, calling this “substantial progress.” Talks continue on how the rules will apply to Google’s AI Overviews and AI Mode. The decisions land amid sustained pressure from Washington,…

Published on 23/07/2026 – 16:29 GMT+2 Liberian authorities have seized nearly four tonnes of cocaine worth an estimated $317 million (€277 million) in what authorities call one of the country’s largest drug busts. The operation took place on the road leading to Roberts International Airport, about 30 kilometres from the capital, Monrovia, and led to the arrest of two foreign nationals. The seizure “revealed an organised, sophisticated, complex and well-funded narcotics trafficking network,” said the attorney general and justice minister. Investigators recovered “approximately 3,971 kilograms of processed plates of suspected cocaine” with an estimated street value of $317.7 million (€279.1…

Published on 23/07/2026 – 17:11 GMT+2•Updated 17:17 Africa’s Economic Ambitions Meet Grassroots Reality Nearly a decade after the launch of the African Continental Free Trade Area (AfCFTA), many of the small businesses it was designed to empower say its benefits remain out of reach. While the agreement promises a unified market across Africa, entrepreneurs continue to face barriers such as poor infrastructure, complex border procedures, and limited access to trade opportunities, highlighting the gap between policy goals and everyday economic realities. In an interview with International Trade Centre (ITC) Executive Director Pamela Coke-Hamilton, we examine why many micro, small and…

“You are not going to see the back of me before 2027, OK?” Lagarde, who served as minister under conservative Presidents Jacques Chirac and Nicolas Sarkozy, said during a press conference Thursday afternoon following the ECB’s decision to keep interest rates at 2.25 percent. The ECB president has issued several messages, not always consistent, on whether she will stay in office until the end of her term. She today repeated that she would not leave the Bank in times of economic turbulence, returning to the same nautical metaphor she used earlier this month and arguing that speculations about her future…

Published on 23/07/2026 – 16:13 GMT+2 Member states have once again discussed options for restrictive measures against Israel’s illegal settlements, but no majority backed a specific course of action, and there is still no sense of direction. On Wednesday, the sensitive question of relations with Israel returned to the table of EU ambassadors, who discussed next steps on a series of options for sanctioning the country’s settlements in the Occupied Palestinian Territories. The options – ranging from stricter enforcement of existing labelling rules for settlement products, to prohibitive tariffs, to a full trade ban – were discussed at the last…