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EBRD lowers growth forecast as Iran war energy shock continues to hit economies
Economic growth across the European Bank for Reconstruction and Development's regions is expected to slow more sharply than previously forecast this year, largely due to higher inflation linked to the Iran war, which has pushed up energy prices. Inflation across the bank's regions rose to 6.4%. The European Bank for Reconstruction and Development (EBRD), which invests across emerging economies spanning central and eastern Europe, Central Asia, the Middle East and North Africa, has lowered...
Humaniod robotics company raises up to $1.4 billion from Nvidia, Amazon and others
U.S. tech giants have backed a German company in its latest fundraising round to develop its humanoid robotics tech. Neura Robotics' Series C financing, which is worth up to $1.4 billion, featured Tether, Qualcomm, Amazon and Nvidia, alongside European industrial companies Bosch and Schaeffler and the European Investment Bank. The company hit a valuation of around $7 billion, according to a source familiar with the matter, who asked to remain anonymous as they weren't authorized to discuss...
Europe Today: Costa speaks exclusively to Euronews as EU-Western Balkans summit underway
A high-stakes EU-Western Balkans summit is underway in Montenegro, with enlargement in the spotlight and France and Germany pushing for a more gradual path to EU integration. Our EU Editor Maria Tadeo is on the ground and speaks exclusively to European Council President António Costa. Also on today’s show: Interview with European Investment Bank President Nadia Calviño.
The European Union reveals details of its tech sovereignty package
The European Union reveals details of its tech sovereignty package New proposals will see the EU further invest in European startups and companies as it looks to strengthen its homegrown tech footprint. The European Commission has announced a new European Technological Sovereignty Package, designed to further reduce its reliance on foreign tech. The EU wants to focus on building out Europe's capacity in areas such as semiconductors, AI, cloud computing and open-source projects.
Safer grids, higher bills? EU's Chinese solar inverter ban reshapes renewable energy
Brussels moves to ban EU funding for clean energy projects that use solar and battery inverters from “high-risk countries”, namely China. Now, manufacturers must rely on European alternatives, which risks increasing European energy bills and production costs. Solar systems generate 13.4 percent of EU electricity and are a cornerstone of the European energy grid.
Inflation hits 3.2%, highest since 2023: Are ECB rate hikes inevitable?
Eurozone inflation rose to 3.2% in May, the highest since 2023, driven by energy and services. Markets now see an ECB rate hike next week as done deal. Price pressures across the euro area accelerated again in May, as the disruptions from the Strait of Hormuz blockade continued to ripple through energy markets, pushing inflation to its highest level in almost three years and cementing expectations of an imminent European Central Bank rate hike.
Newsletter: Bust to boom? Europe’s most exclusive club might be getting bigger
Dozens of European leaders and heads of state from the six Western Balkan countries will be in Montenegro on Friday for talks about how to grow the European Union. Also in the newsletter: how Europe balances trade with the US and China. Good morning, Brussels.
Newsletter: The moving pieces of the EU’s enlargement
Also in this newsletter: The EU's trade chief to meet his Chinese counterpart in Paris amid escalating trade tensions; and Europe Today speaks exclusively to Lebanese culture minister Ghassan Salamé after Israel and Lebanon agreed a conditional ceasefire overnight. Good morning from Brussels. We start with a major development in Ukraine’s bid to join the European Union.
‘Putting biodiversity in our hands’: British wildlife will soon be celebrated on banknotes
Some say 'animal underdogs' have been left off the shortlist, which is now open to a public vote. Historical figures like Winston Churchill will soon be replaced by native wildlife on UK banknotes. In a public consultation run by the Bank of England, the theme of nature came out on top.
Britain’s banks demand a seat at the Brexit negotiating table
Britain’s banks want to muscle in on Keir Starmer’s Brexit “reset” with the EU. After years of being stuck on the sidelines, the City of London’s biggest players are pushing for financial services to finally be given a seat at the negotiating table. “To date, financial services have not been included in the strategic UK‑EU reset,” UK Finance, a lobby group representing Britain’s lenders, said in a report out Monday.