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The European Commission reported on a unified approach of the European Union to the reform of the World Trade Organization. The promulgated document attempts to correct the distortions of market mechanisms in China and to prevent the US from leaving the WTO. Member of the Commission for Trade, Cecilia Malmström, noted the success of the WTO, pointing out that the organization “could not adequately adapt to the rapidly changing global economy”. According to the members of the EC, the rules of international trade should be changed to reflect the current situation in the global economy. The role of the WTO as a controlling organization needs to be strengthened, and a review of the WTO dispute settlement system is needed. The European Union has already started discussing the future reform with the US, Japan, China and other members of the organization.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, ...
On Thursday, United Airlines' (UAL.O) and its pilots' union said that they had reached an agreement on two different resolutions to reduce involuntary furloughs in August. The company said that it would keep pilots ready once the global travel ...
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