Page 4 - Europe

US-European disagreement over climate law persist as Biden meets Macron

President Joe Biden on Thursday tried to allay concerns raised by French President Emmanuel Macron about a clean energy law that benefits electric vehicles and other products made in North America. But the US and Europe remain divided over the landmark law. Hours before hosting Macron at a state dinner, Biden acknowledged that the law contains glitches, but said there are tweaks we can make to satisfy France and other European allies. The United States makes no apology. And I make no apologies," Biden said, but changes may be needed to the four-month-old law "to make it easier for European countries to participate.'' Macron has made clear that he and other European leaders are concerned about incentives in the law, known as the Inflation Reduction Act which favour clean energy technology made in North America, including electric vehicles. The US subsidies would be an enormous setback for European companies, the French leader said, but he added that he is hopeful the dispute can be

Airbus developing hydrogen-powered fuel cell engine for zero emission plain

European aerospace major Airbus on Wednesday said it is developing a hydrogen-powered fuel cell engine for its zero-emission aircraft that will enter service by 2035. The company will start ground and flight testing this fuel cell engine architecture onboard its ZEROe demonstrator aircraft towards the middle of the decade. The A380 MSN001 flight test aircraft is currently being modified to carry liquid hydrogen tanks and associated equipment. "Fuel cells are a potential solution to help us achieve our zero-emission ambition and we are focused on developing and testing this technology to understand if it is feasible and viable for a 2035 entry-into-service of a zero-emission aircraft," Glenn Llewellyn, VP Zero-Emission Aircraft at Airbus, said. He was speaking at the Airbus Summit 2022 here. "At scale, and if the technology targets were achieved, fuel cell engines may be able to power a one hundred passenger aircraft with a range of approximately 1,000 nautical miles," Llewellyn ..

ESMA deadlock: European regulator's interference unfortunate, says RBI DG

"Potential disruption to the forex markets can be serious"

Inflation in Europe eases as energy prices down but still in double digits

Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and led economists to predict a recession. The consumer price index in the 19 countries that use the euro currency hit 10% in November from a year earlier, the European Union statistics agency Eurostat said Wednesday. That was a drop from 10.6% in October, the first decrease since June 2021. The figure reflected prices for food, alcohol and tobacco rising faster, at a pace of 13.6% annually, even as energy prices slipped to a 34.9% rate of increase from an astronomical 41.5% in October. Out-of-control inflation is being fed by high energy prices caused by Russia largely cutting off natural gas over the war in Ukraine as well as bottlenecks in supplies of raw materials and parts and rebounding demand after COVID-19 pandemic restrictions ended. Rising prices have h

Tata CLiQ Luxury expands its luxury fashion category with launch of Le Mill

Partnership will offer international brands in apparel, accessories, and footwear

Top Headlines: Air India on metro-to-metro routes; RBI rate hike & more

A Business Standard poll shows that the Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) is likely to announce a 35-basis point (bp) hike in the repo rate on December 7

Spike in winter demand for diesel in Europe offers huge scope for India

State-owned refiners are in a strong position to gain from the surging demand for diesel from Europe as winter sets in and natural gas supplies from Russia are set to dwindle on fresh sanctions

Single-pilot operations only after thorough investigation, EASA says

European Aviation Safety Agency's proposal draws flak from pilots who say it is too risky

Poland to receive European Union post-Covid recovery fund in 1.5 yrs: PM

Poland will receive support from the European Union (EU) post-pandemic recovery fund within a year and a half, Prime Minister Mateusz Morawiecki said

UP Investors Summit: Road shows in 20 countries, 2 ministers to tour Europe

The Uttar Pradesh government will hold programmes in 20 countries in the coming months with an objective to attract investors ahead of the 'Global Investors Summit' in February 2023, according to officials. The countries where the UP government will hold road shows include Japan, Germany, Thailand, Mexico, South Africa, Brazil, Australia, France, Netherlands, Belgium, the UAE and Canada, a government official said. In the first leg, UP Industrial Development Minister Nand Gopal Gupta and Public Works Department Minister Jitin Prasada will be travelling to Europe in December, the official said. Gupta and Prasada will be touring Germany, Belgium and Sweden in Europe from December 9 to 14, according to an official communication sent by the UP government to the Ministry of External Affairs. "The UP Global Investors Summit 2023 is scheduled for February 10, 2023 in Lucknow. Prominent cities in 20 counties have been chosen for holding 'road shows' ahead of the summit with a view to ...

Jindal Poly Films exploring sale of European arm, valued at $1 billion

The company is working with an adviser on the potential divestment of Luxembourg-based Jindal Films Europe Sarl, which could be worth as much as $1 billion

Euro zone banks return nearly $308 billion in cheap ECB funding

The move is part of ECB efforts to fight record-high inflation in the euro zone by raising the cost of credit and it is its first step towards mopping up even more liquidity

ECB warns of financial stability risks in euro area, warns of recession

Should the outlook deteriorate further, an increase in the frequency of corporate defaults cannot be excluded, particularly among energy-intensive companies

India's gas reliance grows as Europe cuts down on energy consumption

India's demand for the fuel has slumped 5 per cent in the April-September period of FY23 to 31.5 billion cubic metres from a year ago, after rising 5 per cent 2021-22

Europe's energy crunch will trigger years of shortages and blackouts

Energy security concerns in Europe are driving energy poverty in the emerging world," said Saul Kavonic, an energy analyst at Credit Suisse Group AG

Europe pushes FIFA for answers to migrant worker's issues ahead of WC

European nations, including England, are pushing FIFA for concrete answers on issues relating to migrant workers ahead of the World Cup. The 10 nations speaking Sunday include eight with World Cup-bound teams that have committed to captains wearing One Love armbands in breach of FIFA-written rules. UEFA Working Group on Human and Labour Rights is pressing for a definitive response regarding a compensation fund for workers and the concept of a migrant workers center in Doha. In a joint statement it welcomed assurances from the Qatari Government and FIFA regarding the safety of fans at the World Cup, including LGBTQ+ supporters. But it underlined its ongoing commitment to migrant workers ahead of the tournament. FIFA has repeatedly committed to deliver concrete answers on these issues the compensation fund for migrant workers, and the concept of a migrant workers centre to be created in Doha and we will continue to press for these to be delivered, read the statement. "We believe

Europe approves world's first one-dose drug to protect babies against RSV

The European Commission has authorised the world's first one-dose drug against a respiratory virus that sickens millions of babies and children globally every year. In a statement on Friday, drugmakers Sanofi and AstraZeneca said the European Commission had given the green light to nirsevimab, a laboratory-developed antibody designed to protect infants during their first exposure to RSV, or respiratory syncytial virus, a highly contagious common infection that infects nearly all babies by age 2. At the moment, babies at high risk of the disease can be given monthly shots to protect them during RSV season. In September, the European Medicines Agency recommended that nirsevimab, sold as Beyfortus, be authorised based on advanced research that showed the drug reduced the chances that babies with RSV needed medical attention and appeared to be safe, compared to infants who got a dummy treatment. The drug is given in a single injection. We are excited about the opportunity to expand ...

ESMA-Indian regulators logjam: European banks' loss may aid US peers

Foreign investors may switch to custodians backed by American banks for India exposure

Blurred energy nirvana: The world is fast turning green

Even though coal is back on the table, renewable energy is growing strongly

Retail leasing rises 114% Y-o-Y, crossed 3.4 mn sq ft in 9 months: Report

Hyderabad, Delhi- NCR, Mumbai, and Bangalore account for 79% of overall retail space absorption