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EU to seek feedback to merger rules overhaul from Thursday, antitrust chief says

EU to seek feedback to merger rules overhaul from Thursday, antitrust chief says

By Foo Yun Chee BRUSSELS, April 29 (Reuters) - EU regulators will seek feedback starting Thursday from interested parties to the first proposal to overhaul merger rules in more than two decades, which has raised expectations among companies for looser rules.
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EU countries, lawmakers fail to reach deal on watered-down AI rules

EU countries, lawmakers fail to reach deal on watered-down AI rules

By Foo Yun Chee BRUSSELS, April 29 (Reuters) - EU countries and European Parliament lawmakers failed to reach a deal on watered-down landmark artificial intelligence rules after 12 hours of negotiations on Tuesday and will resume talks next month. 
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Facebook, Instagram charged with breaching rules, must do more to protect kids below 13, EU says

Facebook, Instagram charged with breaching rules, must do more to protect kids below 13, EU says

By Foo Yun Chee BRUSSELS, April 29 (Reuters) - Meta Platform' Facebook and Instagram were charged on Wednesday with breaching landmark EU tech rules and must do more to prevent children under 13 from accessing both social networks, EU regulators said on Wednesday.
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Achieves Record Sales with 'We On Fire' EP, Expanding Global Ambitions

Achieves Record Sales with 'We On Fire' EP, Expanding Global Ambitions

Achieves Record Sales with 'We On Fire' EP, Expanding Global Ambitions
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EU chief warns billions could be wasted if energy aid is not well targeted as the Iran war bites

EU chief warns billions could be wasted if energy aid is not well targeted as the Iran war bites

European Commission President Ursula von der Leyen is warning EU countries to focus their energy aid on vulnerable households and industries
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European AI Act Faces Criticism for Potential Innovation Constraints

European AI Act Faces Criticism for Potential Innovation Constraints

The European Union's AI Act, designed to regulate artificial intelligence, is facing criticism for potentially stifling innovation. The Act aims to ensure AI systems are documented, auditable, and capable of independent scrutiny, particularly in high-risk areas such as health and climate. However, there is concern that the regulation may hinder technological advancement by imposing stringent compliance requirements. The Act is part of a broader regulatory framework that includes sustainability reporting and due diligence directives, which are reshaping corporate practices in Europe. Critics argue that while the Act's intentions are noble, its execution may lead to administrative paralysis and limit the agility of tech startups.
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China Challenges EU's Proposed Industrial Accelerator Act Over Discrimination Concerns

China Challenges EU's Proposed Industrial Accelerator Act Over Discrimination Concerns

China has formally lodged a complaint with the European Commission regarding the European Union's proposed Industrial Accelerator Act. The legislation is perceived by China as creating significant investment barriers and institutional discrimination against Chinese companies. The act imposes restrictive requirements on foreign investments in strategic sectors such as batteries, electric vehicles, photovoltaics, and critical raw materials, while favoring 'EU origin' products in public procurement. China's Ministry of Commerce has expressed grave concerns, urging the EU to remove these discriminatory requirements. Analysts argue that the act deviates from World Trade Organization rules and could harm Europe's own interests by disrupting global supply chains, particularly in the electric vehicle battery sector. The act has also faced opposition from other major trading partners and within the EU itself.
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Explainer-US sanctions on China's Hengli mark escalation in Iran oil crackdown

Explainer-US sanctions on China's Hengli mark escalation in Iran oil crackdown

SINGAPORE, April 29 (Reuters) - The U.S. Treasury imposed sanctions on China's Hengli Petrochemical (Dalian) Refinery on Friday, accusing it of buying billions of dollars in Iranian oil, in a significant escalation of Washington's long-running effort to curb Tehran's oil revenue.
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Google gets pointers from EU regulators on helping AI rivals access services

Google gets pointers from EU regulators on helping AI rivals access services

By Foo Yun Chee BRUSSELS, April 27 (Reuters) - Alphabet's Google was given pointers by EU antitrust regulators on Monday on how to help online search rivals and artificial intelligence developers access its services such as those available to its Gemini AI model under rules aimed at reining in Big
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Nations meet to discuss fossil fuel exit as Iran war drives up prices

Nations meet to discuss fossil fuel exit as Iran war drives up prices

By Kate Abnett BRUSSELS, April 27 (Reuters) - Around 60 governments, including Brazil, Germany, Canada and Nigeria, will hold the first international meeting this week to discuss phasing out fossil fuels, as the Iran war upends global oil and gas markets and sends prices soaring.
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European Securities Regulator Warns of Growing Cyber Threats Amid AI Advancements

European Securities Regulator Warns of Growing Cyber Threats Amid AI Advancements

The European Securities and Markets Authority (ESMA) has raised concerns about the increasing risks of cyberattacks, exacerbated by the rapid development of artificial intelligence (AI) models. Verena Ross, chair of ESMA, highlighted the potential for AI to accelerate the speed and sophistication of cyber threats. The financial sector is particularly vulnerable, as demonstrated by recent reports of a new AI model, Mythos, developed by U.S. company Anthropic, which can identify and exploit cybersecurity vulnerabilities. ESMA is actively engaging with financial entities to assess their cybersecurity measures in response to these developments. The regulator is also considering the inclusion of AI providers in the list of critical third-party providers to enhance tech resilience within the EU's finance industry.
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US and EU Forge Strategic Partnership on Critical Minerals to Enhance Supply Chain Resilience

US and EU Forge Strategic Partnership on Critical Minerals to Enhance Supply Chain Resilience

The United States and the European Union have signed a memorandum of understanding (MoU) to establish a strategic partnership on critical minerals. The agreement, signed by US Secretary of State Marco Rubio and EU Trade Commissioner Maroš Šefčovič, focuses on cooperation across the critical minerals value chain, including exploration, extraction, processing, and recycling. The partnership aims to ensure reliable and affordable sources of critical minerals, which are essential for various industries, including technology and clean energy. The MoU also includes an action plan to strengthen trade policies and promote investment, research, and innovation in the critical minerals sector.