BLOOMBERG Eight European Union (EU) nations called for the bloc to scrap new pollution limits for car tailpipes as they distract from the goal of effectively banning new combustion engine vehicles after 2035, the latest sign of push back against environmental regulation. The nations — including France and Italy — said they oppose new exhaust emission rules under the so-called ...

BLOOMBERG German Chancellor Olaf Scholz and Finance Minister Christian Lindner are thrashing out a plan to close a €20 billion ($22 billion) shortfall in the 2024 budget with expenditure cuts in all departments except defense — a move which risks angering their coalition partners, the Greens. Scholz and Lindner have agreed to spending reductions of 2% to 3% for almost ...

BLOOMBERG Facebook owner Meta Platforms Inc was hit by a record €1.2 billion ($1.3 billion) European Union (EU) privacy fine and given a deadline to stop shipping users’ data to the US after regulators said it failed to protect personal information from the American security services. The social network giant’s continued data transfers to the US didn’t address “the risks ...