International and regional news from around the globe.
Coinbase has disclosed its intention to acquire a Cyprus-based company with the aim of providing cryptocurrency-linked derivatives within the European Union (EU). The announcement, made on January 5 via the company’s blog, outlined the strategic move to secure a Markets in Financial Instruments Directive (MiFID) license from the non-disclosed company. MiFID is the regulatory framework…
A substantial quantity of Pfizer’s Paxlovid, a crucial antiviral drug for Covid-19, has gone unused and expired in Europe, resulting in significant financial losses for purchasers. Stringent restrictions on the eligibility for receiving the medication have led to millions of doses being wasted, in stark contrast to the drug’s accessibility in the United States. In…
Europe’s largest parking app operator, EasyPark Group, has voluntarily reported a security breach to information regulators in both the EU and the UK. The incident involved unauthorized access by hackers, resulting in the theft of customer information. EasyPark Group, which owns brands like RingGo and ParkMobile, disclosed that the compromised data included customer names, phone…
The European Central Bank (ECB) maintained its current interest rates during its recent meeting, marking the second consecutive session without changes. Simultaneously, the bank revised its growth projections downward and unveiled strategies to expedite the reduction of its balance sheet. In response to a notable decline in euro zone inflation, the expectation was widespread that…
On December 8, a preliminary agreement was reached in Europe regarding significant European Union regulations concerning the utilization of artificial intelligence (AI), encompassing the governmental deployment of AI in biometric surveillance and the regulation of AI systems like ChatGPT. This political understanding marks a significant step, positioning the EU to potentially be the first major…
European banks are poised to enter the upcoming year with only a slightly reduced capital buffer, indicating their ability to sustain recent dividend distributions despite regulatory directives for increased reserves. According to calculations by Bloomberg, the top 10 banks that have disclosed their regulatory-mandated capital needs for the next year currently maintain an excess of…
Zepz, a fintech unicorn with a valuation of $5 billion, has recently implemented a new round of workforce reductions. The financial technology group, known for its ownership of WorldRemit and backed by major venture capital firms such as TCV, Accel, and Leapfrog, confirmed to CNBC that it has laid off 30 positions in its people…
Snowstorms and strong winds are causing significant disruptions to air and rail services in various parts of the Europe Continent, leading to transportation chaos in Central Europe for the second consecutive day. Affected countries this weekend include the Czech Republic, Austria, Switzerland, and southern Germany. Munich Airport experienced a complete suspension of all flights on…
On one of the most hectic shopping days of the year, workers employed by the American e-commerce giant Amazon (AMZN.O) initiated strikes at various locations across Europe on Friday, expressing their dissent over the company’s labor conditions. Protests and strikes are scheduled in more than 30 countries, starting from Black Friday—the day following the U.S….
European governing organizations have reached a consensus on new regulations aimed at expanding instantaneous payment options for consumers and companies throughout the continent. This week’s rules, which the European Council and the European Parliament agreed upon, will enable banks and payment service providers (PSPs) that presently offer standard credit transfers in euros to also begin…
