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Europe Economy

[New Dawn] The Ministry of Transport with assistance from the Liberia National Police, European Union, German Cooperation and GIZ as well as sponsorship from Orange Money will hold a one-day road safety activity dubbed: "Safe Streets Festival" on Saturday, 25 November on Broad Street, Central Monrovia. According to a release from EU, the event is inspired by the European Mobility Week and takes place under the motto: "Road Safety Strengthens Economy". | 11/23/17
Poland has been steadily growing its share of renewable energies in an effort to decarbonise its economy, challenging stereotypes that paint it as the coal-addict of Europe. However, the deployment of renewables appears to have come to a halt since the 2015 peak. | 11/23/17
 With the UK government continuing to face down criticism over how it is handling plans to remove the UK from the European Union, today the country’s Chancellor Philip Hammond delivered an annual Autumn Budget that underscored its continuing push to win over the tech world. In a wide-ranging speech laying out proposals for investment and taxes for individuals and businesses, the… Read More | 11/22/17
EU and business leaders are very keen to address the high levels of youth unemployment and the emerging skills gap across Europe by offering young people opportunities to play an active role in the European economy, writes Stefan Crets. | 11/21/17

BERLIN — Germany, Europe's largest economy and anchor of stability, is facing the prospect of months of political uncertainty after Chancellor Angela Merkel's conservatives were unable to form a coalition with two smaller parties, raising the likelihood of new elections.

Negotiations to form the German government broke down, dealing a blow to Chancellor Angela Merkel and throwing the leadership and direction of Europe’s largest economy into doubt. | 11/20/17
A group of influential German business figures launch campaign to keep the UK in the European Union. | 11/20/17
[Business Day] The enactment of a new legislation that addresses entrenched forest governance challenges in Ghana has been touted as a critical milestone on the way to full implementation of the country's Voluntary Partnership Agreement (VPA) with the European Union. | 11/20/17
Negotiations to form the German government broke down, dealing a blow to Chancellor Angela Merkel and throwing the leadership and direction of Europe’s largest economy into doubt. | 11/20/17
For decades, labourers were presented with a false choice: good jobs or a clean environment. They were told that efforts to cut pollution would kill jobs—that they had to choose between clean air and the economy. Now we know better, insists Kathleen Van Brempt. | 11/17/17
 PIxelz, a Danish provider of post-production photographic software and services, has raised  $7 million to build out its business in Europe. Read More | 11/16/17
In Europe, innovative companies are often taken to court when their business model does not meet the established patterns, and this may prevent the EU from becoming a large common market for digital services, argues Žiga Turk. | 11/14/17
The head of the CBI says business wants the UK and Europe to speed up Brexit negotiations. | 11/13/17
[The Herald] Zimbabwe has over the past few years hosted trade and investments missions from Europe, Asia and the African region among others, but of concern is the fact that these have not yielded much. Although it is quite understandable that setting up shop is not a one-day event, but a process that takes some time, we still have not seen much being done given the volume of delegations that we have received. The mismatch is too wide, it needs prodding. | 11/10/17
The European economy is enjoying a period of positive momentum as growth spreads across all member states, public accounts are expected to look healthier and risks are balanced for the first time in a long while, the European Commission concluded on Thursday (9 November). | 11/9/17
The European Union said it is poised to beat 2017 economic growth expectations, with strong private consumption and the global recovery propelling eurozone growth at the fastest pace in a decade. | 11/9/17
The European Union said it is poised to beat 2017 economic growth expectations, with strong private consumption and the global recovery propelling eurozone growth at the fastest pace in a decade. | 11/9/17
Is the European Commission doing enough on the circular economy? Björn-Erik Lönn and Sören Enholm explain that buyers play an important role in creating it, so we have to make sure consumers and purchasers are empowered to make sustainable choices. | 11/8/17
Tomorrow, the European Commission reveals its plan to cut transport emissions and boost electric vehicle use. For its ambition to pay off, the EU will have to bank on the business argument for e-mobility. | 11/7/17

This year’s quiet summer movie season left AMC Entertainment high and dry, as the theater chain owner struggled through a second consecutive money-losing quarter — although it managed not to bleed as much cash as analysts expected.

After markets closed Friday, AMC reported $1.18 billion in revenue and a loss of 33 cents a share for the three months ended September 30. That fell well short of the earnings of 31 cents a share the company reported for the same time last year.

Revenue topped last year’s $780 million in the corresponding quarter, thanks to multiple acquisitions in the last year. Analysts had estimated revenue of $1.16 billion and a loss of 36 cents a share.

Also Read: AMC Theatres Makes $20 Million Bet on Virtual Reality With Dreamscape Immersive

“We have been predicting weakness in the third quarter industry box office, due to the quantity and subject matter of the films that were scheduled to be released,” AMC President and CEO Adam Aron said in a statement accompanying the earnings. “We, however, remain bullish about the fourth quarter movie slate.”

AMC, which is owned by China’s Dalian Wanda Group, had been on a spending spree over the last few years, scooping up chains in Europe and North America.

But after the company was hammered by a soft second quarter, Aron said “acquisitions are paused” in order to reduce debt on its last earnings call. The company lost nearly $43 million in the third quarter.

Also Read: Wanda's Jack Gao Steps Down From AMC Theatres Board

The company has tried to diversify from its reliance on blockbusters, making a $20 million bet on virtual reality company Dreamscape Immersive to add more bells and whistles to the theatrical experience.

AMC’s Chinese parent, Wanda, has also been hamstrung by a regulatory crackdown, as the company has sold off dozens of hotels and its theme park business as it looks to reduce its own debt.

And while AMC doesn’t rely on Wanda for funding, earlier this month, Wanda exec Jack Gao stepped down from his position as interim CEO of Wanda-owned Legendary Entertainment and also exited AMC’s board.

Also Read: Why Wang Jianlin and Wanda's Problems are 'More Political Than Economic' (Video)

And AMC was the theater chain that came out strongest against subscription service MoviePass’s price cut, calling its under-$10 price tag that allows users to see up to one film a day “not in the best interest of moviegoers.”

On AMC’s conference call following the earnings release, Aron said the company was considering an initial public offering of its European theaters on the London Stock Exchange in 2018, where the exhibitor would sell between one-fourth and one-third of its shares to the European public, as a way to give investors a more immediate return on AMC’s expansion strategy.

Related stories from TheWrap:

Wanda's Jack Gao Steps Down From AMC Theatres Board

AMC Theatres Makes $20 Million Bet on Virtual Reality With Dreamscape Immersive

AMC Theatres CEO Says 'Acquisitions Are Paused' to Reduce Debt | 11/6/17

Cross-border data flows is one of the most important issues to our members in today’s global economy. The European Union’s General Data Protection Regulation (GDPR) dealing with how global businesses handle any collected data from individuals in Europe will become effective in May of 2018. It is imperative that U.S. businesses with international and European clients understand how the GDPR may affect their businesses and begin to implement strategies to ensure compliance with the regulation.

Helping members understand new regulations is a core part of the i2Coalition mission. As such, the i2Coalition will be organizing a members-only call with leading U.S. and European regulators charged with implementing the GDPR to discuss compliance. Additionally, there will be a discussion on Privacy Shield, the agreement between the US and EU for the handling of transatlantic exchanges of personal data.

Alban Schmutz, Chairman of CISPE and VP of OVH will be speaking with a focus on the GDPR and its Code of Conduct for infrastructure providers.

The call will take place November 14th, at 10 AM EST (UTC -4). Additional information available here. | 11/6/17
The European Commission’s proposal to gradually phase-out first generation biofuels by 2030 will have a “major” negative impact on Hungary’s rural development, the ministry of agriculture told | 11/2/17
[Focac] Students of the Institute for South-South Cooperation and Development come from 23 developing countries in Africa, Latin America, Asia and Europe. ZOU HONG/CHINA DAILY | 11/1/17
As Britain pursues an exit from the European Union, higher costs on imported goods and uncertainty about trade have conspired to weaken its economy. | 11/1/17
The implications of the UK leaving the European Union without a trade deal are "not very pretty", Welsh Economy Secretary Ken Skates says. | 10/31/17
The eurozone economy slowed slightly in the three months through September, while the annual rate of inflation fell, a combination that will likely reinforce the European Central Bank’s caution as it starts to scale down its stimulus measures. | 10/31/17
Lebanon's prime minister says Cyprus can help his country drum up support from other European Union member states for its economy that's coming under heavy strain from hosting around 1.5 million Syrian refugees. | 10/28/17
Environmental issues are currently one of the hottest problems in the European Union. There is a general recognition that stopping climate change requires definite and urgent actions, as well as setting ambitious goals by all countries - not only European ones. | 10/27/17
Initiatives to strengthen the financial markets and deepen the economic and monetary union will play a major role in the European Commission’s work programme for 2018, the final one before the legislative machine slows down in the run-up to European elections in 2019. | 10/25/17

The brutal murder of Maltese reporter Daphne Caruana Galizia in a mafia-style car bomb attack on 16 October is the first of its kind in Malta and for a very long time in Western Europe.

At 53, this mother of three was among the most exposed journalists on the island, notably because of her fight for transparency and against the corruption that is corroding Maltese politics and society. She made a lot of enemies through her investigations and revelations, both in the newspapers where she was working and on her blog, one of the most popular in the country, especially within the island’s political and business elite. She received many threats and recently filed a police report about it.

Her assassination reminds us that although in the EU journalists generally work in good conditions, freedom of the press and journalists’ safety are not to be taken for granted.

Maltese newspapers displaying the same slogan in protest after Daphne Caruana Galizia's assassination

To make things worse, crimes against journalists often go unpunished. According to CPJ, out of the total 805 murdered (specifically targeted in direct relation to their work) journalists cases since 1992 across the world, 695 are still unsolved. Impunity represents a worrying trend also at the European level, where many cases of murdered journalists – from Spain to Croatia, to Poland, remain unpunished.

The map below shows journalists killed while on duty in Europe since 1992 for each country. The data come from the Committee to Protect Journalists (CPJ) database, as well as from the International Federation of Journalists and from the International Press Institute, and are updated on 23 October 2017. The figures don’t take into account reporters who were European nationals and were killed outside Europe, particularly in war zones. | 10/24/17
In December 2015, the European Commission presented a new Circular Economy Package that will impact a wide range of sectors, especially the recycling sector. This package has set various targets in terms of recycling but also has introduced life cycle thinking and measurement tools such as PEF (currently in its pilot phase). | 10/23/17
With the U.S. considering reimposing sanctions on Tehran, companies do business with it “at great risk,” the secretary of state said. | 10/23/17
European banks, tech companies and the big oil companies are all reporting their third-quarter results. And the economy is expected to have slowed. | 10/23/17
European Central Bank officials are watching wage growth as they plot a gradual retreat from easy money policies to boost the regional economy. But the pickup they’re looking for as a signal that Europe is returning to full health might not materialize. | 10/22/17
Secretary of State Rex Tillerson said the Trump administration isn’t seeking to disrupt European business deals with Iran, offering a message of reassurance following the president’s refusal last week to certify the nuclear deal. | 10/20/17
The issue of taxing the digital economy could undermine efforts for harmonising fiscal rules in Europe. Unless member states kill two birds with one stone. EURACTIV France reports. | 10/20/17
Europe needs to address the rural exodus with policies and investments that make farming an attractive career choice. But political uncertainty over the bloc’s agricultural policy is keeping investors away, experts said at an event organised by EURACTIV in Brussels on Tuesday (17 October). | 10/19/17
Much of the growth in Romania is the product of a consumer bonanza, and economists worry that the good times cannot last given a lack of investment. | 10/19/17
Songtrust, Downtown Music Publishing’s global digital rights management platform, is opening a new office in Amsterdam and hiring Mandy Aubry... | 10/19/17
Bank of England Gov. Mark Carney issued his clearest warning yet that a disorderly Brexit would pose a major risk to the European economy and not just the U.K. | 10/17/17
Almost a decade after the Irish economy was crippled by a banking catastrophe, the country is reopening its arms to banks to take advantage of shifts in Europe’s finance industry triggered by Brexit. | 10/17/17
[ISS] A few weeks ahead of the crucial 5th African Union (AU)-European Union (EU) summit in Abidjan at the end of November, most officials on both sides are aware of the many potentially explosive issues in the relationship between these two organisations. | 10/16/17
It’s high time for a circular economy in Europe, according to member states. So why are they on course to obstruct waste laws? This kind of doublespeak undermines the circular economy but also faith in politicians, writes Piotr Barczak. | 10/16/17
Given the extraordinary boom of the digital economy, Europeans’ data protection should be a priority, according to Director General for Justice and Consumers Tiina Astola. EURACTIV Spain reports. | 10/16/17
Cohesion policy makes up 61.17% of all Polish public investment, one of the highest rates in the EU. It is topped only by Portugal, Croatia and Lithuania, according to a European Commission report that highlighted cohesion funds as a major investment driver in many EU regions. | 10/13/17
[Seychelles News Agency] Maritime security, the Blue Economy, climate change mitigation and regional economic integration are some of the areas where the European Union (EU) and Seychelles could work closely together, the EU ambassador to Seychelles said Tuesday. | 10/11/17
Credit ratings agency DBRS thinks soccer clubs in Europe will find it increasingly attractive to raise capital in equity and debt markets as a result of their "more sophisticated" business models. | 10/5/17
 The European Commission under Competition Commissioner Margrethe Vestager definitely means business. Today it issued not one but two notices related to ongoing investigations of tech giants Apple and Amazon and how they are not paying what is due in taxes. The result is a doozy. The EC says that Ireland has failed to collect up to €13 billion in taxes from iphone maker Apple —… Read More | 10/4/17
WASHINGTON (AP) — The Veterans Affairs Department's watchdog said Tuesday it is reviewing Secretary David Shulkin's 10-day trip to Europe with his wife that mixed business meetings with sightseeing.
The European Commission’s new Industrial Policy Strategy is a good start to provide the framework for Europe’s businesses to secure their position as a leading economy in the future, but the hard work is only just beginning, warns Seppo Parvi. | 10/3/17

The economy of Europe comprises more than 731 million people in 48 different states. Like other continents, the wealth of Europe's states varies, although the poorest are well above the poorest states of other continents in terms of GDP and living standards. The difference in wealth across Europe can be seen in a rough East-West divide. Whilst Western European states all have high GDPs and living standards, many of Eastern Europe's economies are still rising from the collapse of the communist Soviet Union and former Yugoslavia. Throughout this article "Europe" and derivatives of the word are taken to include selected states whose territory is only partly in Europe – such as Turkey, Azerbaijan, and the Russian Federation – and states that are geographically in Asia, bordering Europe – such as Armenia and Cyprus. Europe was the first continent to industrialize – led by the United Kingdom in the 18th century – and as a result, it has become the richest continent in the world today and the nominal GDP in 2010 is $19.920 trillion (32.4% of the World). Europe's largest national economy is that of Germany, which ranks fourth globally in nominal GDP, and fifth in purchasing power parity (PPP) GDP; followed by France, ranking fifth globally in nominal GDP, followed by the United Kingdom, ranking sixth globally in nominal GDP, followed by Italy, which ranks seventh globally in nominal GDP, then by Russia ranking tenth globally in nominal GDP. These 5 countries are all ranking in the world's top 10, therefore European economies account for half of the 10 wealthiest ones. The end of World War II has since brought European countries closer together, culminating in the formation of the European Union (EU) and in 1999, the introduction of a unified currency – the euro. European Union as a whole is, by far, the wealthiest and largest economy in the world, topping the US by more than 2.000 billions at a time of great economic slowdown– see List of countries by GDP. In 2009 Europe remained the world's wealthiest region. Its $32,7 trillion in assets under management represented more than one-third of the world’s wealth. Unlike North America ($29,3 trillion) it was one of few regions where wealth surpassed its precrisis year-end peak. Of the top 500 largest corporations measured by revenue, 184 have their headquarters in Europe. 161 are located in the EU, 15 in Switzerland, 6 in Russia, 1 in Turkey, 1 in Norway. 19 out of the top 26 nations in the world with the highest nominal GDP per capita are in Europe as of 2010. nr 1 Monaco $203,900 nr 2 Liechtenstein $136,864 nr 3 Luxembourg $104.390 nr 4 Norway $84,543 nr 6 Switzerland $67,074 nr 7 Denmark $55,112 nr 8 San Marino $50,670 nr 10 Sweden $47,667 nr 13 Netherlands 46,418 nr 15 Ireland $45,642 nr 16 Austria $43,723 nr 17 Finland $43,133 nr 19 Belgium $42,596 nr 21 Andorra $41,130 nr 22 France $40,591 nr 23 Germany $40,511 nr 24 Iceland $39,562 nr 25 UK $36,298 nr 26 Italy $33,828

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