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Google complying with EU order in shopping case, says Vestager

Google complying with EU order in shopping case, says Vestager

Google is complying with an EU order to boost competition in online shopping, Europe’s competition chief said today, brushing aside complaints from rivals demanding more regulatory action.

Google was hit with a €2.4 billion fine two years ago for unfairly promoting its own comparison shopping service.

But it has since offered to allow competitors to bid for advertising space …

Top 5 exporters account for over a quarter of all goods exports in 2017

Top 5 exporters account for over a quarter of all goods exports in 2017

New figures from the CSO show that the country’s five biggest exporters accounted for 26% of all exports in 2017 with the pharmaceutical sector the biggest exporter of goods.

The Central Statistics Office said that the five highest value exporters accounted for over €31 billion of all exports in 2017, while the top 50 enterprises exported …

Risk of no-deal Brexit has never been greater – Coveney

Risk of no-deal Brexit has never been greater – Coveney

Tánaiste and Minster for Foreign Affairs Simon Coveney has warned Cabinet colleagues that at no point in the last two-and-a-half years has the risk of a no-deal Brexit been greater.

He said that while a hard Brexit could still be avoided, Britain had failed to come up with any solutions or answers.

Mr Coveney also said that no staff working …

US delays Huawei ban for 90 days

US delays Huawei ban for 90 days

US officials have issued a 90-day reprieve on their ban on dealing with Chinese tech giant Huawei, saying breathing space was needed to avoid huge disruption.

A Commerce Department filing said the delay does not change the ban imposed by President Donald Trump on national security grounds, an action with major implications for US and Chinese technology firms.

Instead, it grants a temporary …

Unemployment rate revised sharply lower to 4.6% – CSO

The Central Statistics Office has sharply revised downwards unemployment rates for March and April, taking the level below 5% for the first time since the financial crisis over a decade ago.

Monthly unemployment rates have been subject to sharp revisions in recent quarters.

The CSO said today that the jobless rate in April had been revised down to 4.6% from the 5.4% previously estimated.

The change was as …

US announces six-month reprieve on car tariffs

US announces six-month reprieve on car tariffs

The White House has said that President Donald Trump is delaying a decision by up to six months on whether to impose tariffs on imported cars and parts to allow for more time for trade talks with the European Union and Japan.

It said, however, Mr Trump agreed with findings that imported vehicles and parts can threaten US national security.

President Trump faced …

Oil rises after OPEC+ says to keep output cuts, Iran tension rises

Oil rises after OPEC+ says to keep output cuts, Iran tension rises

Oil prices rose to multi-week highs today after OPEC indicated it would probably maintain production cuts that have helped support prices this year, while tension continued to escalate in the Middle East.

Brent crude was up by 90 cents, or 1.3%, at $73.11 a barrel this morning, having earlier touched $73.40, the highest since April 26.

Sterling rises off 5-month lows after biggest weekly drop this year

Sterling rises off 5-month lows after biggest weekly drop this year

Sterling inched above five-month lows today as British Prime Minister Theresa May makes a last-ditch attempt to get a Brexit deal through parliament before she leaves office.

However continued scepticism from the opposition Labour Party capped gains.

After failing three times to get parliament’s approval for her EU divorce deal, May said she will present a “new, bold …

Euro zone April inflation confirmed at 1.7%

Euro zone April inflation confirmed at 1.7%

Euro zone prices rose by 1.7% in April, EU statistics agency Eurostat confirmed today, while slightly revising upwards its estimates for core inflation.

Eurostat said consumer prices in the 19-nation euro zone were 1.7% higher year-on-year, the same level as the flash estimate published on May 3, and up from 1.4% in March.

The acceleration offers some mild relief to the …

EU goods surplus with US eases, deficit with China widens

EU goods surplus with US eases, deficit with China widens

The European Union’s trade surplus in goods with the US decreased in the first three months of 2019, but its deficit with China widened, figures released today showed.

The 28-nation bloc’s surplus with the US slipped to €33.9 billion in the three months from January to March, from €36.2 billion the same time in 2018, EU statistics office Eurostat …

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