22 stories found
The European Union has given its conditional approval to the proposed merger between Paramount and Warner Bros. Discovery, while the deal remains on hold in the United States as a judge considers a preliminary injunction.
The EU has fined Temu €200 million for allowing the sale of illegal and unsafe products on its platform. Meanwhile, the EU is also discussing its strategic interests for potential talks with Russia regarding Ukraine and facing regional revolts over the use of cohesion funds to combat high energy costs.
The EU has stated it will not act as a neutral mediator between Ukraine and Russia, with Estonian Prime Minister Kaja Kallas asserting that Europe stands with Ukraine and that Russia is on the defensive. The EU also reiterated its opposition to the presence of Russian troops in Georgia and Moldova.
Chinese e-commerce giant JD.com is reportedly evaluating a £2 billion bid for the British online retailer The Very Group, with Sky News also reporting on the potential acquisition.
The European Union has approved the creation of a working group tasked with drafting Montenegro's accession treaty. This move signifies a step forward in Montenegro's path towards EU membership.
JD.com has warned that its planned takeover of Ceconomy is facing delays due to scrutiny from Austrian regulators.
Ceconomy, a major European consumer electronics retailer, is reportedly planning a CEO transition as Dr. Karsten Deissner prepares to step down from his leadership role.
Ceconomy is set to propose CFO Remko Rijnders to take over as the new CEO, replacing the outgoing chief executive.
The EU regulator has sent a charge sheet to JD.com regarding its deal with Ceconomy. Sources indicate that EU regulators are expected to issue a formal warning to JD.com.
A Chinese chamber of commerce has called on the European Union to ensure legal certainty and non-discrimination in its Foreign Subsidies Regulation (FSR) probe concerning JD.com’s deal with CECONOMY.
Russia has warned Armenia about potential consequences of its closer ties with the European Union, threatening to revoke a natural gas deal. Concurrently, Montenegro has received support from French President Emmanuel Macron for its path towards EU membership.
Ceconomy AG announced non-GAAP EPS of €0.28 and revenue of €13.1 billion, while Wienerberger AG reported GAAP EPS of -€0.28 and revenue of €1.03 billion. These figures reflect the latest financial performance for both companies.
A major deal between JD.com and Ceconomy has been delayed due to scrutiny and regulatory hurdles imposed by Austrian authorities.
Germany's Ceconomy, parent company of Media Markt-Saturn, has flagged uncertainty regarding Austrian approval of its planned deal with Chinese e-commerce giant JD.com, as the sale remains pending amid obstruction from Austrian authorities.
Ceconomy's supervisory board is scheduled to meet on March 12 to discuss the departure of its CEO and determine the company's next strategic steps.
Ceconomy's new CEO, Remko Rijnders, announced plans to make MediaMarkt and Saturn more profitable, indicating that the Saturn brand will undergo a significant transformation.
The European Union has fined Chinese e-commerce giant Temu €200 million for breaching EU rules by allowing the sale of illegal and unsafe products, including dangerous toys. Temu has expressed disagreement with the accusations.
Brussels is preparing to open an in-depth investigation into JD.com's proposed takeover of Ceconomy, marking the first time the EU has conducted such a detailed review of a Chinese acquisition.
The European Union formally approved a substantial multi-billion euro loan package for Ukraine and a new round of sanctions against Russia, following Hungary's decision to drop its opposition. This financial lifeline aims to support Ukraine amidst the ongoing conflict and its aspirations for full EU membership.
JD.com has announced plans to resubmit its application for the takeover of Ceconomy in Austria, with the previous application having been withdrawn as part of a procedural agreement with authorities.
JD.com has launched its Joybuy Marketplace in Europe and acquired Ceconomy, signaling a strategic move to expand its presence in the European market and compete with Amazon.