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  • BREAKING NEWS
15 minutes ago

Aiden Fucci pleads guilty to first-degree murder in death of Tristyn Bailey

Aiden Fucci pleaded guilty to first-degree murder Monday morning in the death of St. Johns County classmate Tristyn Bailey.

A river flood warning in effect for Brantley County

See the complete list

BREAKING NEWS

Aiden Fucci pleads guilty to first-degree murder in death of Tristyn Bailey

A river flood warning in effect for Brantley County

PAOLO GENTILONI


The threat of a transatlantic trade war is dominating Davos

The pressure is on the European institutions — but the question is how far are they willing to go?

cnbc.com

EU expects recession to hit Europe as inflation hangs on

The European Union’s executive commission slashed its forecast for economic growth next year.

EU proposes more forgiving debt plans a decade after crisis

The European Union is considering more lenient economic recovery proposals that veer away from the grinding, top-down austerity rules that hit Greece and other countries during the financial and debt crises a decade ago.

Putin's war on energy is testing solidarity between EU nations

European solidarity is being tested as war in Ukraine continues to cause energy turmoil for countries across the bloc; Gentiloni has called for a "united approach."

cnbc.com

EU economics chief says bloc is not afraid of Putin, ready to react over halted Russian gas supplies

The European Union is "ready to react" to Russia's latest decision to halt gas supplies to the bloc, a top EU official has told CNBC.

cnbc.com

Russia's war to keep hitting EU economy, push up inflation

European Union expects Russia’s war in Ukraine to wreak havoc with the economic recovery for the foreseeable future through lower annual growth and record-high inflation.

EU to keep budget rules looser for longer amid war fallout

The European Union is extending looser limits on spending by member countries for an extra year in a bid to counter the economic fallout from Russia’s war in Ukraine.

War shakes Europe path to energy independence, climate goals

Europe’s most pressing energy policy goal was reducing carbon emissions that cause climate change before Russia’s war in Ukraine.

EU finance chiefs grapple with economic fallout from attack

After the political outrage against Russia comes the economic reckoning.

EU takes aim at Poland amid fears for bloc's legal order

The European Union is launching legal action against Poland over recent decisions by one of the country’s top courts which have raised troubling questions about the 27-nation bloc’s legal order.

EU chief calls for debate on making COVID-19 jabs mandatory

The chief of the European Union’s executive arm says EU nations should consider making COVID-19 vaccinations mandatory because too many people still refuse to get shots voluntarily.

EU says economic recovery threatened by COVID-19 resurgence

The European Union says the massive spike in COVID-19 cases in recent weeks is threatening the bloc's recovery from the deep economic slump caused by last year’s onset of the pandemic.

Europe should be wary of possible new Covid variants, the bloc's economics chief says

Last week, the European Commission, the executive arm of the EU, projected growth of 5% for both the EU and the euro area this year.

cnbc.com

Europe's economic recovery faces hit from high energy costs

The European Commission has raised its growth forecast for the year for the 19 countries using the euro, saying the economy was bouncing back from the worst of the coronavirus pandemic as people went back to work in consumer-facing jobs.

France, Spain press for changes as EU energy prices surge

France and Spain are pressing for changes to rules governing the European Union’s energy markets as prices for gas and electricity surge.

EU chief turns to Paralympian Vio to inspire Europe's youth

When European Commission chief Ursula von der Leyen was at a loss for words to capture the true spirit of Europe's young, she introduced a special guest of honor at her State of the Union address.

EU officials eye new geopolitical role alongside China and the U.S.

Paolo Gentiloni, the EU's commissioner for economics and taxation, has spoken to CNBC about a need for the bloc to develop on the geopolitical stage.

cnbc.com

EU nations approve a dozen pandemic recovery plans

European Union nations have approved the pandemic recovery plans of the bloc’s four biggest economies and eight other member countries.

World Bank sees 5.6% global growth in 2021, best since 1973

The World Bank is upgrading the outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades.

G-7 back steps to deter tax dodging by multinational firms

The Group of Seven wealthy democracies have agreed to support a global minimum corporate tax of at least 15% to deter multinational companies from avoiding taxes by stashing profits in low-rate countries.

EU economy to expand, bouncing back from pandemic crisis

The European Union economy is set to bounce back strongly this year after the deep coronavirus recession and member states are forecast to regain lost ground by the end of next year.

EU: Pandemic measures to total about $5.85 trillion

The European Union’s top economy official says that the recovery measures the EU and its 27 member states have in the works to emerge from the pandemic total around $5.85 trillion.

As virus restrictions bite, EU extends safety net till 2023

The Commission, the EU’s executive arm, reckons that fiscal support worth around 8% of GDP was provided in 2020, far more than during the financial crisis of 2008-2009. “There is hope on the horizon for the EU economy, but for now the pandemic continues to hurt people’s livelihoods and the wider economy,” Commission Executive Vice-President Valdis Dombrovskis said Wednesday. Ad“To cushion this impact and to promote a resilient and sustainable recovery, our clear message is that fiscal support should continue as long as needed. Based on current indications, the general escape clause would remain active in 2022 and be deactivated in 2023,” Dombrovskis said. The decision to extend the general escape clause is a sign of just how uncertain things are.

EU hopeful for firm economic growth despite virus challenges

European Commissioner for Economy Paolo Gentiloni speaks during an online news conference at the European Commission headquarters in Brussels, Thursday, Feb. 11, 2021. Growth in the wider 27-nation EU is predicted to hit 3.7% this year and 3.9% in 2022 following last year's 6.3% slide. We will still have a great deal to do to contain the wider socio-economic fallout.”Gentiloni conceded though that the virus is posing major economic and social challenges. “None of the member states is expected return in 2022 to the growth path projected before the crisis. In 2022, GDP in the EU and the euro-area will remain about 4% below what pre-pandemic forecasts had projected,” he said.

EU forecasts deeper economic hit from pandemic

BRUSSELS The European Union's executive forecasts that the bloc's economy will contract more than previously expected because of the coronavirus pandemic, which has caused lockdowns on business and public life that are only slowly being eased. The 27-nation EU economy is predicted to contract by 8.3% this year, before growing 5.8% in 2021, according to the latest predictions released Tuesday. The road to recovery is still paved with uncertainty," EU Economy Commissioner Paolo Gentiloni told reporters in Brussels. In the previous forecasts released in May, when most of the continent was under lockdown, the blocs GDP was forecast to contract by about 7.5% this year, and to bounce back by 6% in 2021. In May it had forecast a 7.8% decline this year, and growth of 6.3% in 2021.

Russia claims its new hypersonic weapon is ready for war

WASHINGTON Russia's defense minister on Friday declared a new hypersonic weapon, which is said to be capable of striking the United States, ready for war. Russian Defense Minister Sergei Shoigu said in a conference call with Russian military leaders that the first missile unit equipped with the Avangard hypersonic glide vehicle entered combat duty. Avangard can travel at least five times the speed of sound, or about one mile per second. It was one of the six new weapons that Russian President Vladimir Putin unveiled in March 2018. At the time, the Russian leader claimed the hypersonic weapon was capable of reaching targets at 20 times the speed of sound and that it could strike "like a fireball."

cnbc.com
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