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Business news and information from the European Union

European economy enters deepest ever recession
Despite EU and national efforts, Europe's economy will experience a recession of historic proportions this year, according to the EU's spring economic forecast, presented Wednesday by the Commission.

EU to put off new tax rules due to coronavirus crisis
The EU Commission decided Friday to postpone entry into force of two EU taxation measures to take account of difficulties businesses and Member States are currently facing with the coronavirus crisis.

Brussels to clamp down further on dirty money
The EU Commission put forward Thursday a set of measures it wants to take over the next 12 months to better enforce and coordinate EU rules on combating money laundering and terrorist financing.

Greenhouse gas emissions in EU reduced by 8.7% under ETS in 2019
Emissions of greenhouse gases from all operators covered by the EU Emissions Trading System (EU ETS) in 2019 fell by 8.7% compared to 2018 levels, the Commission reported on Tuesday.

EU and global partners pledge EUR 7.4 bn to fund coronavirus vaccine
The EU joined with global partners Monday to pledge EUR 7.4 billion in funding for the development of fast and equitable access to safe, effective and affordable diagnostics and vaccines against coronavirus.

More support for Europe's agricultural and food sectors
The European Commission published Monday its latest package of exceptional measures to support the agricultural and food sectors which are being most affected by the coronavirus crisis.

Brussels takes legal action against Poland over judges' independence
The EU Commission launched legal action again Poland Wednesday over a new law which it says undermines the judicial independence of Polish judges and is incompatible with the primacy of EU law.

Coronavirus: measures to provide relief to Europe's transport sector
The Commission adopted Wednesday a package of measures to help companies in the aviation, rail, maritime and road sectors deal with the consequences of the coronavirus outbreak.

Coronavirus: banking package to facilitate bank lending
A new banking package, adopted Tuesday by the EU Commission, aims to ensure that banks can continue to lend money to support the economy and help mitigate the economic impact of the coronavirus.

EU and Mexico conclude talks on free trade deal
The EU and Mexico agreed Tuesday the exact scope of the reciprocal opening of each other's public procurement markets, concluding the last outstanding element of negotiations on their new trade agreement.

EU gives go-ahead to EUR 540 bn recovery package
EU leaders endorsed in a video call Thursday an agreement on safety nets for workers, businesses and sovereigns amounting to a package worth EUR 540 bn, calling for the package to be operational by 1 June.

Airlines must be transparent on VAT and credit card fees: EU Court
Air carriers must indicate, as soon as their price offers are published on the Internet, VAT charges on domestic flights as well as any fees charged for paying by credit card, the EU's top Court ruled Thursday.

Coronavirus: new measures to help EU farmers
A new set of measures to help EU farmers affected by the coronavirus pandemic, announced Wednesday by the Commission, aims to stabilise markets and provide stability to future prices and production.

Students: connect to nature in the time of COVID-19 through new "Earth School"
With more than 1.5 bn learners hit by COVID-19 school closures, a UN Environment Programme coalition has launched 'Earth School' to provide free, high-quality educational content for students and teachers.

European data sharing platform opens for COVID-19 researchers
The Commission together with several partners on Tuesday launched a European COVID-19 Data Platform to enable the rapid collection and sharing of available research data.

MEPs call for ambitious green COVID-19 recovery plan
In a debate with Commission executive vice-president Frans Timmermans Tuesday, a committee of MEPs said the EU must remain firm on climate change and the timetable foreseen for the Climate Law.

New rules to help SMEs sell across Europe
New rules on mutual recognition of goods, which started applying across the EU from Sunday, will make it faster, simpler and easier for companies, especially SMEs, to sell their products across Europe.

MEPs greenlight new EU resources to fight coronavirus
The European Parliament gave its green light Friday to rapid implementation of a number of proposals for redirection of EU policy funds to address the effects of the coronavirus public health crisis.

Brussels outlines roadmap for COVID exit plans
The EU Commission, in cooperation with the Council, put forward a European roadmap Wednesday for a coordinated strategy for phasing-out the containment measures due to the coronavirus outbreak.

EU diverts nearly all resources to fight COVID-19
The EU Council adopted two proposals Tuesday to make almost all remaining funding from this year's EU Budget - plus an additional EUR 3 billion - available for the fight against the COVID-19 pandemic.

EU offers Italy "heartfelt apology" over coronavirus
EU Commission chief Ursula von der Leyen on Thursday expressed "a heartfelt apology" to Italy on behalf of Europe for not being at the country's side from the very beginning of the coronavirus crisis.

EU finds EUR 15.6 bn to support global effort against pandemic
The EU is to redirect from existing external resources financial support amounting to more than €15.6 billion to partner countries to help partner countries with their efforts to tackle the coronavirus pandemic.

Coronavirus: EC, EIB unlock EUR 8 bn finance for 100,000 SMEs
The Commission and European Investment Fund made available EUR 8 billion in financing Monday, to bring speedy cash relief to SMEs in Europe affected by the coronavirus pandemic.

EU medical teams deployed to Italy
A team of European doctors and nurses from Romania and Norway was despatched Tuesday via the EU Civil Protection Mechanism to Milan and Bergamo to help Italian medical staff battling the coronavirus.

Three states failed to fulfil obligations on refugees, EU Court rules
Poland, Hungary and the Czech Republic failed to fall in with an EU decision for a temporary mechanism to relocate their share of refugees from Greece and Italy, the EU's top Court ruled on Thursday.