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Fri, 04/01/2011 - 16:44 by Yasser Ali
In what seems to be a turn of tables, Microsoft Corporation has filed an antitrust lawsuit against Google at the European Commission, accusing it of curbing competition in internet search.
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Tue, 03/08/2011 - 12:21 by Jaspreet Virk
Ever imagined losing weight through chocolates and cakes? Well, mouth-watering desserts to help people shed flab is soon going to become a reality.
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Sat, 11/20/2010 - 08:59 by harsheeb
Naples -- European Commission officials say they will recover EC funds the Italian government and Campania regional authorities spent on an Elton John show.
Organizers of the 2009 concert in Naples were criticized for spending nearly $1 million of European money on the gig, which was part of the Piedigrotta festival.
While detractors said it was a misuse of funds, festival organizers maintained the concert helped promote Naples and brought business to the region, and argued that is what the money is intended to do.
"Cultural events, culture in general, can fall under the scope of operational programs, but they have to be aimed at structural long-term investments," commission spokesman Ton Van Lierop told the BBC Friday.
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Sat, 11/13/2010 - 09:55 by Rakhi
London -- The European Commission is investigating the expenditure of nearly $1 million of European money by Italian officials on a 2009 Elton John concert in Naples.
The performance was part of the Piedigrotta festival. It is unclear how much John was paid for the gig, the BBC said.
Italian Euro Member of Parliament Mario Borghezio called the expenditure, which only recently was made public, a "shameful" misuse of EU funds by the Campania regional authority.
"We're asking the managing authority about this. We want to know why they think it fits in with the rules," the commission's regional policy spokesman Ton van Lierop told the British broadcaster.
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Fri, 10/22/2010 - 07:24 by Prince damin
Brussels -- The European Commission said it is reviewing a plan to have banks pay fees to offset future financial industry bailouts in the European Union.
EU Internal Market and Services Commissioner Michael Barnier said, "No bank should be too big to fail or too interconnected to fail," the EUobserver reported Thursday.
"We need a clear framework which ensures authorities throughout Europe are well prepared to deal with banks in difficulty and handle possible bank failures in an orderly manner," he said.
Under the proposal, international banks headquartered in Europe would be taken over by a series of "resolution colleges" comprised of bank regulators.
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Thu, 10/14/2010 - 09:29 by Prince damin
Brussels -- The European Commission said Wednesday Europe requires legislation to make offshore oil drilling safer, but steered away from imposing a drilling ban.
A day after the United States ended a six-month moratorium on deep-water drilling exploration, European Union commissioners recommended a "single new piece of legislation for offshore oil and gas activities," as they rejected Energy Commissioner Gunther Oettinger's proposal to impose a drilling moratorium, The Wall Street Journal reported.
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Fri, 08/20/2010 - 22:14 by Prince damin
Brussels -- The European Commission's lower court Friday suspended a ban on seal product imports after predicting it will survive a challenge by Canada.
A Canadian Inuit organization, the Inuit Tapiriit Kaanatam, said on its Web site Thursday the EU's General Court in Luxembourg was suspending the regulation until it ruled on the matter. The ban on importation of seal products into the 27 European Union nations was set to go into effect Friday, the EUobserver said.
Native Inuits arguing to have the ban on seal products lifted in the EU's lower court had requested an injunction. The Canadian government wants the World Trade Organization in Geneva to strike down the ban.
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Tue, 08/17/2010 - 22:14 by Prince damin
Brussels -- The European Commission wants to amend its rules governing supervision of "financial conglomerates" to extend to parent companies.
The EC executive's proposal Monday came as individual member states of the 27-nation European Community fought with the European Parliament over creation of new financial supervisory entities designed to oversee banking and insurance industries in more than one country, The EUobserver reported.
"Drawing lessons from the financial crisis, the commission proposes to equip national financial supervisors with new powers to better oversee the conglomerates' parent entities, such as holding companies," the EU executive said in a statement.
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Wed, 07/07/2010 - 17:26 by Anupreet Kaur
Bristol-Myers Squibb Company (NYSE: BMY), a global biopharmaceutical company, announced the approval of ORENCIA (abatacept), in combination with methotrexate (MTX), from the European Commission.
The medicine is particularly for the treatment of moderate to severe active rheumatoid arthritis (RA) in adult patients, who have responded inadequately to previous therapy, with one or more disease-modifying anti-rheumatic drugs (DMARDs) including MTX or a TNF-alpha inhibitor.
“This is a very welcome decision from the European Commission and one which will potentially have a positive impact on treatment outcomes for RA patients who have already experienced inadequate response to a first DMARD,” said Dr. Manuela Le Bars, European Medical Lead for Immunoscience, Bristol-Myers Squibb.
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Sun, 05/09/2010 - 10:02 by Rakhi
Brussels -- A fund that would buffer European countries against Greece's debt crisis should be ready by Monday's trading session, a European Union official said.
The European Commission will "discuss and adopt" details of the fund officials hope will fend off market predators threatening the eurozone, where 16 EU members use only the euro as their legal tender, a EU official told Radio France Internationale Saturday.
The proposal, expected to raise about 70 billion euros ($89 billion), will be presented to the Council for the European Stabilization Mechanism "to preserve financial stability in Europe," the European Union said.
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Wed, 04/07/2010 - 11:22 by Rakhi
Brussels -- A European Commission report recommends more investment in cultural and creative industries to spur economic growth on the continent.
Odile Quintin, director general of the commission's education and cultural development department, said an upcoming report focuses on cultural opportunities, which currently supports 5 million jobs and 2.6 percent of the gross domestic product of the 27-member European Union.
"If creative and cultural industries are widely considered as a very strong input to growth, then we should invest more money," Quintin said, the EUobserver reported Tuesday.
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Thu, 02/25/2010 - 21:43 by Anupreet Kaur
Search engine and advertising giant Google is in trouble due to complaints against it by three European websites.
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