The Council adopted new rules aimed at making banks operating in the EU more resilient to possible economic shocks. The changes aim to increase the resilience of banks, strengthen their supervision and reinforce risk management. In addition they will strengthen supervision and sustainability in the banking sector. Vincent Van Peteghem, Belgian minister for finance, stated last Thursday: “The […]
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European Commission designates Temu as Very Large Online Platform under the Digital Services Act
The Commission has formally designated Temu as a Very Large Online Platform (VLOP) under the Digital Services Act (DSA). Temu is an online marketplace with an average of more than 45 million monthly users in the European Union. This user number, which Temu has communicated to the Commission, is above the DSA threshold for designation as a […]
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8% of EU enterprises used AI technologies in 2023
In 2023, 8% of enterprises in the EU with 10 or more employees used Artificial intelligence (AI) technologies to conduct their business. This data comes from the newly updated Statistics Explained article on the use of artificial intelligence in enterprises. Artificial intelligence refers to systems that use technologies such as text mining, computer vision, speech […]
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CJEU Judgment: The order button or a similar function must clearly indicate that the consumer is subject to a payment obligation by clicking on it
This applies even where the obligation to pay is also dependent on the satisfaction of a subsequent condition. In Germany, the tenant of an apartment – the monthly rent of which was higher than the maximum ceiling permitted under national law – asked a debt recovery undertaking to request his landlords to repay rent overpayments. […]
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European Commission approves up to €1.4 billion for fourth major project of common European interest in the hydrogen value chain
The European Commission has approved, under EU State aid rules, a fourth Important Project of Common European Interest (‘IPCEI’) to support research, innovation and the first industrial deployment in the hydrogen value chain. The project contributes to the EU’s target of 90% reduction of emissions from the mobility and transport sectors, in order for the […]
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European Commission approves up to €1 billion for fourth major project of common European interest in the health sector
The European Commission has approved, under EU State aid rules, the first Important Project of Common European Interest (‘IPCEI’) to support research, innovation and the first industrial deployment of healthcare products, as well as innovative production processes of pharmaceuticals. This IPCEI will notably contribute to the European Health Union‘s objectives by delivering innovations addressing diseases for […]
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Joint statement of the parties to the European Economic Area Agreement on the occasion of the 30th anniversary of its entry into force
This year marks the 30th anniversary of the entry into force of the European Economic Area (EEA) Agreement. The EEA Agreement, which unites our States in the internal market, has been the bedrock of our close and special partnership. It has greatly contributed to the prosperity of our societies and economies. This exceptional milestone invites […]
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EU and Australia sign partnership on sustainable critical and strategic minerals
The EU and Australia signed a Memorandum of Understanding (MoU) for a bilateral partnership to cooperate on sustainable critical and strategic minerals. The MoU was signed on behalf of the EU by Executive Vice-President and Commissioner for Trade Valdis Dombrovskis, and Commissioner for Internal Market, Thierry Breton. The signatories for Australia were Resources and Northern Australia Minister Madeleine King, […]
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European Critical Raw Materials Act: law to ensure access to a diversified, affordable and sustainable supply enters into force
The European Critical Raw Materials Act entries into force, which aims at ensuring a diverse, secure, and sustainable supply of critical raw materials for the EU’s industry. Secured access to critical raw materials is essential for strategic sectors including clean technologies, digital, defence and aerospace industries. Europe now has a regulatory framework to strengthen domestic […]
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