Italy’s UniCredit has successfully completed its acquisition of a majority 90.1% stake in Alpha Bank Romania, a strategic move that solidifies its position as a leading banking force in Eastern Europe. This deal, which also involves Alpha Services and Holdings, is set to elevate the combined entity to the third-largest bank in Romania, commanding a […]
Teva Pharmaceuticals, the generics powerhouse, has been slapped with a hefty fine of €462.6 million by the European Commission for anti-competitive practices related to its blockbuster multiple sclerosis drug, Copaxone. The fine marks one of the largest penalties imposed on a pharmaceutical company for breaching antitrust regulations in recent years, surpassing the penalty imposed on […]
In an unprecedented financial maneuver, the Group of Seven (G7) has greenlit a $50 billion loan package to support Ukraine, using proceeds from immobilized Russian assets to offset the war’s financial burden on Kyiv. This decision, spearheaded by the United States, European Union, United Kingdom, Canada, and Japan, signals a united front among global powers […]
The European Commission has granted conditional approval for JD Sports Fashion PLC’s €520 million acquisition of the French sportswear retailer Courir. This decision marks a significant step forward for the British retail giant, but it also comes with a series of stipulations to maintain fair competition in European markets. The Commission’s approval hinges on JD […]
Ingka Group, the powerhouse behind IKEA’s global retail network, has officially completed its full acquisition of Ikano Bank AB (publ). The landmark deal follows critical approvals from major regulatory authorities, including the Swedish Financial Supervisory Authority (Finansinspektionen) and the European Commission. This strategic move solidifies Ingka Group’s control over Ikano Bank, setting the stage for […]
AMIVAS Ireland Ltd has announced the launch of Artesunate AMIVAS, the first and only licensed treatment for severe malaria in Europe and the UK. Approved by the European Commission and the UK’s Medicines and Healthcare products Regulatory Agency (MHRA), Artesunate AMIVAS is now available to treat severe malaria in both children and adults. The drug […]
The European Union has postponed the introduction of its biometric Entry/Exit System (EES), which had been scheduled to launch on 10 November 2024. The delay follows concerns from Germany, France, and the Netherlands regarding their readiness to support the system’s technical requirements. Together, these three countries handle approximately 40% of the passenger traffic that would […]
Storm Boris has left a trail of destruction across Italy after devastating much of central Europe. The storm has ravaged Italy’s northern regions, especially Emilia Romagna and Marche, forcing the evacuation of over 1,000 people as rivers burst their banks, swallowing towns and cities in the process. The chaos in Italy comes after the storm […]
The European Union is turning up the heat on Apple, demanding the tech giant open its iOS and iPadOS operating systems to third-party developers and rival tech. The EU’s bold move comes under the Digital Markets Act (DMA), designed to tackle the dominance of major players like Apple. The stakes are high, with Apple potentially […]
Qualcomm faces another blow in its ongoing battle with European regulators. The European Court of First Instance has upheld most of the tech giant’s hefty antitrust fine, albeit with a slight reduction. The penalty, initially set at €242 million, was trimmed to €238.7 million after the court ruled that some calculation errors had been made […]