Category سی ان بی سی اروپا

No-deal Brexit is the most likely outcome of trade talks, former EU chief says

President of the European Commission Jean-Claude Juncker delivers a speech during a session of the European Parliament on Brexit on January 30, 2019 in Brussels, Belgium.
Thierry Monasse | Getty Images

U.K. and EU negotiators are unlikely to reach a trade agreement in the coming months, Jean-Claude Juncker, the former president of the European Commission, said at an event Tuesday. 

The two negotiating teams started their eighth round of discussions over new trade arrangements on Tuesday — a necessary step after the U.K. left the European Union in January and agreed to work toward a trade deal with the bloc, to be implemented in January 2021.

However, the trade talks have not made any significant progress so far and there are growing doubts that this will change in the com...

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U.S., European drugmakers pledge to make safety the main focus in coronavirus vaccine development

Nine leading U.S. and European vaccine developers pledged on Tuesday to uphold the scientific standards that their experimental immunizations will be held against, amid a hurried global race to contain the pandemic.

The companies, including Pfizer, GlaxoSmithKline and AstraZeneca, in a joint statement made a “historic pledge… to uphold the integrity of the scientific process as they work towards potential global regulatory filings and approvals of the first Covid-19 vaccines.”

The unusual move to promise to play by well-established rules underlines a highly politicized debate over what action is needed to quickly rein in the spread of the deadly disease and to jumpstart global business and trade.

The head of the U.S...

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WikiLeaks’ Julian Assange fights extradition to the U.S. in top London court

WikiLeaks founder Julian Assange, one of the world’s most high-profile whistleblowers, will fight his extradition to the U.S. this week, after failing to delay the hearing on Monday. 

Assange is wanted in the U.S. over the publication of hundreds of thousands of classified documents in 2010 and 2011.

The hearing, at London’s Old Bailey, is being heard by District Judge Vanessa Baraitser. It began in February but it was pushed back as a result of the coronavirus.

The U.S. Justice Department issued a new indictment in June alleging that Assange conspired with members of hacking organizations and tried to recruit hackers at conferences in Europe and Asia who could provide WikiLeaks with classified information. 

Assange’s lawyer, Edward Fitzgerald QC, argued Monday that the latest indictm...

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Italy opens competition probe into Apple, Google and Dropbox’s cloud storage services

Sundar Pichai and Tim Cook
Source: Reuters; Apple

Italy’s competition authority announced Monday it’s looking into cloud storage services run by Apple, Dropbox and Google after hearing several complaints about allegedly unfair commercial practices.

The Competition and Market Authority said it has launched six total investigations into Google Drive, Apple’s iCloud and DropBox. 

The agency is investigating whether the three companies failed to properly indicate how their services would collect and use consumer data for commercial purposes, according to a translated press release...

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‘We’re certainly in a bubble,’ strategist warns — but don’t expect it to pop anytime soon

Tech stocks are unequivocally in “bubble” territory, a chief investment officer told CNBC on Monday, but that’s not to say the recent “tech wreck” is going to continue in the short term.

U.S. stocks closed lower for the second consecutive session on Friday, bringing an end to a volatile trading week ahead of the long Labor Day weekend.

The S&P 500 tech sector fell more than 4% for the week, intensifying speculation that the stock market shakeout was likely not over yet. The space had largely been responsible for the broader market’s strong comeback off its coronavirus lows.

“I think we are certainly in bubble territory,” Jonathan Bell, chief investment officer at Stanhope Capital, told CNBC’s “Street Signs Europe” on Monday.

Bell suggested there had been “so many good reasons” for in...

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UK house prices see biggest jump since 2016 to hit fresh high – but it won’t last long, say property experts

Matt Cardy | Getty Images News | Getty Images

U.K. house prices saw their biggest growth since 2016 in August, climbing to a record high, according to Britain’s longest-running barometer of the property market. 

The Halifax House Price Index, which is run by analysis company IHS Markit, found that U.K. house prices grew by 5.2% in August compared to the same month last year. It marks the strongest annual growth in prices since the end of 2016. 

The price of the average U.K. house hit £245,747 ($324,241) – the first time on record that prices have surpassed £245,000. It represents month-on-month growth of 1.6% from July to August, a touch higher than the 1.5% growth forecasted by economists in a Reuters poll. 

Russell Galley, managing director at Halifax, said the surge...

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Sterling drops as escalating Brexit tensions threaten possible trade deal

EU’s Brexit negotiator Michel Barnier
NurPhoto | NurPhoto | Getty Images

Sterling has weakened against the U.S. dollar on Monday morning as escalating tensions between the U.K. and the EU are threatening any chances of a post-Brexit trade deal in the coming months.

Sterling dropped about 0.5% against the USD in early European trading hours ahead of another round of trade talks between the U.K. and EU Monday and increasingly acrimonious relations.

There are two main issues threatening to derail the entire process: differences over state aid and fisheries. The prospects for a deal were dealt another blow overnight after news that the U.K. government is preparing to override previous agreements with the EU.

If we can’t agree by (mid-October), then I do not see that there ...
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Many investors have never been so confident on Europe, crisis fund chief says

Klaus Regling, head of the European Stability Mechanism, at Forum The European House – Ambrosetti in September, 2020.
Michael Green | CNBC

Europe’s unprecedented stimulus plan has changed how many investors look at the region, the head of the euro zone’s crisis fund told CNBC Saturday.

Investors have often criticized Europe for its lack of coordination and weak institutions, especially since the sovereign debt crisis shook the bloc.

However, according to Klaus Regling, the head of the European Stability Mechanism — a crisis fund set up in 2012 — there’s a different opinion in the market now, after the European Union agreed to jointly raise funds to address the coronavirus crisis.

“Many people in the markets tell me: ‘We are more positive on Europe than the last 10 years...

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Amazon and postal services are ‘complementary,’ Ireland’s postal service boss insists

PeopleImages | iStock | Getty Images

Postal services have a complementary role to play with Amazon as e-commerce booms during the pandemic, according to the head of Ireland’s postal service. 

David McRedmond, chief executive of An Post, told CNBC that the accelerated demand for delivery from online sales had created room for a number of different players.

Amazon has been expanding its e-commerce footprint in Ireland with the tech giant taking a lease on its first delivery warehouse in Dublin in April. The 70,000-square-feet delivery station will partner with local delivery firms to meet demand.

While Amazon’s data center business has a heavy presence in Ireland, it is the first time it has hired directly in the country to handle online orders.

“Amazon is one of our biggest...

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Italy’s foreign minister claims country has ‘worked well’ with U.S. despite tariff dispute

he Foreign Minister and politician of the 5 Star Movement, Luigi Di Maio.
Marco Cantile | LightRocket | Getty Images

Italy has worked well with U.S. President Donald Trump, the country’s foreign affairs minister told CNBC, despite tensions over taxation and trade.

“We have only had commercial advantages in the Trump era,” Luigi di Maio, who previously served as Italy’s deputy prime minister, told CNBC’s Steve Sedgwick at the European House Ambrosetti Forum on Friday.

“Our products, even during the tariff initiatives, were protected,” he said in reference to a series of additional duties imposed by the White House. The charges were placed on certain European goods in light of a long-standing transatlantic dispute over aircraft subsidies. 

The Italian government reportedly lo...

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