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Nord Stream stake
- Dutch gas company Gasunie has taken a stake in a Baltic gas pipeline, Nord Stream, which is to bring Russian gas to western Europe. Gasunie will take a 9% stake in the project, a joint venture between Russian gas giant Gazprom and German energy firms BASF and E.On. The planned pipeline, which will be built under the Baltic sea, has been strongly criticised by Poland and the Baltic states for circumventing their territories and for ignoring their concerns about reliance on Russian energy supplies.
EU improves overall competitiveness
- The EU improved its overall level of competitiveness last year and reduced the productivity gap with the US, according to a report presented by the European Commission on Monday (5 November). The report found that there were improvements on productivity and employment growth.
Railfreight takeover gets conditional approval
- The Commission has given conditional approval to German railway operator Deutsche Bahn (DB) to buy UK railfreight operator English Welsh and Scottish Railway Holdings (EWS). The Commission was concerned that DB might not go ahead with EWS’ plans to invest in France but the company pledged to fulfil EWS’ expansion projects for the next five years.
UK attacks financial services regulator plans
- UK City Minister Kitty Ussher said that the UK was opposing plans for a centralised EU financial services regulator, pointing out that while the EU’s arrangements for regulating the sector should be improved, a drift towards a pan-EU regulator,"which would be rigid and stifling" should be avoided.
Retailers seek end to credit card fees
- The chief executives of 14 top EU retailers have written to the Commission asking for an end to credit card firms charging fees for each transaction. The letter, which was also signed by the president of EuroCommerce, an association representing the retail, wholesale and international trade sectors, says that credit card firms are charging billions of euros in "excessive charges" each year. The Commission is currently examining the legality of so-called interchange fees which are charged to retailers on every retail transaction using a credit card. Such fees are usually 1-2% of the value of the transaction.
Partnership for EU car industry’s future
- The Commission and industry and workers’ organisations in the car sector on Monday launched a new partnership to help the EU’s car industry adapt to structural change. The initiative aims to help anticipate changes in the industry and adapt to new trends using a range of policy instruments. These include EU funds, such as the European Globalisation Fund, to help workers retrain and find jobs in other sectors.
French fishermen
- Joe Borg, the European fisheries commissioner, has criticised plans by French President Nicolas Sarkozy to compensate French fishermen for high fuel prices. Borg suggested that public funds should be used instead to finance research into more fuel-efficient vessels. Sarkozy has promised to lower social insurance payments for fishermen.
The Portuguese presidency is trying to broker a deal on value-added tax (VAT) reforms by the end of this year.
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