EU LISA
European Union sues IBM and two European companies over troubled border system: Report
The European Union has initiated legal proceedings against IBM, Atos, and Leonardo for delays in the Entry/Exit System. EU-Lisa reported these delays occurred during the system's development, not affecting its operation. The consortium was awarded a contract in 2019 for implementation and maintenance. In a letter from October 2021, the companies contested a fine imposed on them. They cited external factors like the COVID-19 pandemic as reasons for the delays.
Republican, Democratic US senators say Trump's diesel deal with Russia is illegal
A bipartisan group of seven US senators has questioned the legality of President Trump's diesel import deal with Russia. They highlight Congress's ban on Russian energy imports established in 2022 due to the Ukraine conflict. The senators argue that Trump's decision violates this law and failed to communicate with Congress. Concerns arise over the potential financial benefits to Russia amidst ongoing civilian casualties in Ukraine.
Gold holds near seven-week low, US economic data on tap
Gold prices are holding steady near a seven-week low, despite ongoing concerns about rising interest rates from the Federal Reserve. Investors are treading carefully as they prepare for crucial US economic data, including employment and inflation reports, this week. Meanwhile, oil prices have increased over fears of supply disruptions in the Middle East, potentially impacting inflation rates. Current market expectations show a 70.
From Australia to Europe, countries move to curb children's social media access
Below is a summary of what countries and companies are doing to regulate access to social media amid mounting concerns over the impact of social media on children's health and safety.
Gold steady as Mideast escalation tempers easing inflation optimism
Gold prices remained stable as U.S. inflation data showed easing pressures. However, Middle East conflict escalation drove oil prices higher, reviving energy cost concerns. U.S. producer prices unexpectedly fell in June, indicating subsiding inflation before recent events. Federal Reserve officials expressed determination to bring inflation down soon. China's economy expanded at its slowest pace in over three years.
UK may intervene in $110 billion Paramount-Warner Bros Discovery deal
Britain is considering intervening in Paramount's proposed $110 billion takeover of Warner Bros Discovery, potentially delaying the deal despite approvals from the US and China. The UK's culture minister has set a July 6 deadline for responses, citing potential impacts on news and on-demand services. This move could trigger reviews by anti-trust regulators, mirroring past actions against major tech acquisitions.
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Gold rises over 1% as geopolitical, economic tensions lift precious metals
On Thursday, gold prices experienced a remarkable rise, approaching their recent peak levels due to escalating global tensions. Meanwhile, silver and palladium also enjoyed some upward momentum. Investors are keenly awaiting potential interest rate cuts from the US, with projections indicating at least two reductions by 2026.
EU scrambles to avert Trump Greenland tariffs, prepares retaliation
Greenland tariffs: Trump vowed on Saturday to implement a wave of increasing tariffs from February 1 on EU members Denmark, Sweden, France, Germany, the Netherlands and Finland, along with Britain and Norway, until the U.S. is allowed to buy Greenland, a step major EU states decried as blackmail.
Donald Trump's Greenland tariffs prompt calls for unprecedented EU counter-measures
European Union nations are urged to deploy a new economic tool against US President Donald Trump's tariff threats. Trump has vowed to impose tariffs on several European countries and Britain. This action is in response to these nations sending military personnel to Greenland.
Europe's airports demand immediate review of new Entry/Exit border system as travellers face long queues
Europe's airports face significant delays due to the new EU Entry/Exit System. Technical problems and system issues are causing long queues and impacting passenger experience. Airport authorities warn of worsening congestion, especially during the holiday season. They are calling for immediate action to stabilize the system and ensure smooth travel.
Gold falls as strong US jobs data dims rate-cut prospects
Gold prices declined on Friday, heading for a weekly loss as a robust U.S. jobs report diminished expectations for a December Federal Reserve rate cut. Traders now see a lower probability of a cut, impacting gold's appeal as a non-yielding asset. The strengthening dollar further pressured bullion prices.
As outrage over war in Gaza grows, Europe's relationship with Israel falters
Pro-Palestinian protests are intensifying across Europe, prompting a significant shift in leaders' stances towards Israel. European governments are increasingly condemning Israel's war conduct, with some nations recognizing a Palestinian state and calls growing to ban Israel from sporting and cultural events.
Starting this October, visitors travelling to Europe will face new digital checks
Beginning October 2025, the European Union will implement the Entry/Exit System (EES), replacing manual passport stamping for non-EU travelers. This new system requires registering fingerprints and facial images, aiming to enhance security, detect overstays, and combat identity fraud. While initial processing times may be longer, automated gates and self-service kiosks are expected to streamline border checks.
Gold set for fourth weekly rise as US data lifts rate-cut hopes
Gold prices increased on Friday, marking a potential fourth straight week of gains. This rise is due to concerns about the U.S. labour market, overshadowing inflation worries. The Federal Reserve is expected to cut interest rates next week. Weakening Treasury yields and a declining dollar also support gold.
Gold inches higher as soft US PPI data fuels rate cut bets; CPI in focus
Gold prices saw a slight increase. This happened after U.S. producer price data came out lower than expected. The data increased anticipation of a Federal Reserve interest rate cut. Investors are now waiting for U.S. Consumer Price Index data. The Federal Reserve is expected to make a decision on interest rates next Wednesday.
Gold hovers near record high on US rate-cut hopes, soft dollar
Gold prices surged to a four-month peak, nearing April's record high, fueled by a weaker dollar and growing anticipation of a U.S. interest rate cut this month. The expectation of a rate cut is driven by traders pricing in a high probability of a 25-basis-points reduction by the Federal Reserve. Investors are now awaiting U.S.
Gold prices near one-month peak on soft dollar, US rate-cut hopes
Gold prices are near a one-month high, buoyed by a weaker dollar and rising expectations of a U.S. Federal Reserve rate cut in September. Spot gold is holding steady at $3,413.80 per ounce, marking a 3.6% gain this month. Investors are keenly awaiting the U.S. Personal Consumption Expenditures (PCE) Price Index for further clues on the Fed's rate path.
Gold little changed as investors await Jackson Hole remarks
Gold prices remained stable as investors looked forward to the Federal Reserve's policy direction. The Jackson Hole symposium in Wyoming is about to start. Fed Chair Jerome Powell's speech is keenly awaited for insights on labour market and inflation. Donald Trump urged Lisa Cook to resign. Russia warned the West on Ukraine security talks.
Europe’s Schengen border security system vulnerable to hacks. Audit warns of catastrophic beach risk
A confidential audit of the EU’s Schengen Information System II (SIS II) revealed thousands of severe cybersecurity flaws, including excessive admin access and slow patching by contractor Sopra Steria. Though no breach occurred, experts warn a leak could be catastrophic. Oversight failures by EU-Lisa and reliance on external consultants further weakened system integrity, raising concerns about future smart border projects.
Mona Lisa will smile from a gallery of her own, but seeing her will cost extra
The Louvre is set to renovate with a new gallery for the Mona Lisa. Visitors will need to pay an extra fee to view the painting. The renovation plan costs €800 million and is expected to finish by 2031. The aim is to reduce crowding and improve the visitor experience. Non-EU citizens will pay more for general admission.
World’s most visited museum shuts down as staff strike protests on mass tourism
The Louvre Museum, grappling with overcrowding and staff concerns over working conditions, abruptly closed due to an emergency strike. Employees cited infrastructure neglect and overwhelming visitor numbers, especially around the Mona Lisa, as key issues. While a long-term renovation plan exists, staff express skepticism about immediate relief, highlighting funding cuts amidst rising tourism.
World's most visited museum shuts down, sounding the alarm on overtourism
The Louvre Museum, a major cultural landmark, faced an unexpected closure due to a staff strike protesting unbearable working conditions caused by overcrowding and understaffing. This disruption, impacting thousands of tourists, highlights the museum's struggle with overtourism despite President Macron's ambitious renovation plans.
Non EU-visitors to pay higher entrance fee at Paris Louvre, world's most-visited museum
French President Emmanuel Macron announced that non-EU visitors will face higher entrance fees at the Louvre to address overcrowding and fund upgrades for the museum's outdated facilities. He also revealed plans for a dedicated space for the Mona Lisa, following warnings from Louvre President Laurence des Cars about the museum's deteriorating infrastructure, including water leaks and temperature issues threatening artwork preservation.
Mona Lisa will now have its own dedicated room, announces French President Macron
French President Emmanuel Macron announced a major renovation and expansion of the Louvre, including a dedicated room for the Mona Lisa, currently displayed in an overcrowded gallery. The overhaul will include a new entrance near the Seine and underground rooms, addressing issues like water leaks, poor insulation, and outdated facilities.
Zepto CEO Aadit Palicha's interview; Lisa Su on AMD's India plans
Happy Friday! Zepto CEO on growth, cash burn, foreign ownership and impact on kiranas. This and more in today’s ETtech Morning Dispatch.
Gold prices hover near two-week low on firm dollar, yields
Gold prices reflect global economic uncertainties amidst discussions on interest rates by central banks, impacting market sentiments. The interplay between various economic indicators and policy decisions continues to shape the trajectory of gold as an investment choice.
All travelers, regardless of origin or destination, can apply for a digital Schengen visa
The updated regulations outline the transformation of Schengen visas into a digital format, featuring a 2D barcode cryptographically signed by the Country Signing Certificate Authority of the issuing Member State. Digital visas will include the facial image of the visa holder and will be both printable and accessible for all travelers, regardless of origin or destination.
When will the ETIAS entry charges in Europe be implemented? Understanding the application process
The ETIAS visa waiver program for Europe, which involves travel entry charges, has encountered another postponement. Initially planned for a May 2023 launch, the program is now slated to become effective in 2025, granting travelers additional time before its implementation. This recent delay has been officially announced by eu-LISA, the EU agency overseeing the Entry/Exit system and ETIAS.
London Metropolitan University crisis: Court reprieve for Indian students
Indian & other non-EU students at the London Metropolitan University heaved a sigh of relief today as the high court allowed them to continue their studies.
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