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EU slams China dairy duties as 'unjustified'
Brussels hit back Monday at China slapping duties of up to 42.7 percent on some dairy products from the European Union, calling the move "unjustified". The "duty deposits", which range from 21.9 percent to 42.7 percent, come into effect on Tuesday.
Telefonica to shed around 5,500 jobs in Spain
Telefonica will cut up to 5,500 jobs in Spain under a voluntary departure plan agreed with trade unions last week, the debt-laden telecoms firm said in a statement on Monday. "An agreement was reached with the trade unions... concerning the implementation of a voluntary departure plan for approximately 5,500 workers," Telefonica said in a statement released via the stock market regulator.
Italy fines Apple nearly 100 mn euros over app privacy feature
Italy's competition authority said Monday it had fined the US tech giant Apple 98 million euros ($115 million) for allegedly abusing its dominant position in the mobile app market. French antitrust authorities earlier this year handed Apple a 150-million euro fine over its app tracking privacy feature.
EU to probe Czech aid for two nuclear units
The European Commission said Monday it had opened an investigation to assess whether the Czech government's support plan for the construction and operation of two nuclear units is in line with EU state aid rules.
Swiss court to hear landmark climate case against cement giant
A Swiss court has decided to hear a landmark climate case pitting residents of a tiny Indonesian island being swallowed by rising sea levels against cement giant Holcim, NGOs helping the islanders said Monday. Holcim has not owned any cement plants in Indonesia since 2019, but the islanders argue that the company shares the blame for rising temperatures and sea levels.
Asian markets rally with Wall St as rate hopes rise, AI fears ease
Asian markets rallied Monday and gold hit a record high as the latest round of US data boosted hopes for more interest rate cuts, while worries over AI spending also subsided. Gold, which benefits from lower US interest rates, hit a fresh record above $4,388, while silver also struck a new peak.
US in 'pursuit' of third oil tanker in Caribbean: official
The US Coast Guard was pursuing another allegedly sanctioned tanker on Sunday, a US official told AFP, as Washington ramps up its pressure campaign targeting Venezuela's vital oil sector. "The United States Coast Guard is in active pursuit of a sanctioned dark fleet vessel that is part of Venezuela's illegal sanctions evasion.
CO2 soon to be buried under North Sea oil platform
In the North Sea where Denmark once drilled for oil, imported European carbon dioxide will soon be buried under the seabed in a carbon capture and storage (CCS) project nearing completion. And even more so when it involves burying them at sea.
India's Bollywood counts costs as star fees squeeze profits
From fleets of private trailers to personal chefs and sprawling entourages, Bollywood stars' "obnoxious" demands are driving up production costs and putting a strain on the Indian film industry's finances, insiders say. "The kind of demands stars make is obnoxious."
AFP
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