Major economies sharply increased support for the production and consumption of coal, oil and natural gas, with many countries struggling to balance longstanding pledges to phase out inefficient fossil fuel subsidies with efforts to protect households from surging energy prices, according to analysis released today by the Organisation for Economic Co-operation and Development and the International Energy Agency. New OECD and IEA data show that overall government support for fossil fuels in 51 countries worldwide almost doubled to 697.2 USD...

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Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Jackson Hole Economic Policy Symposium organised by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming | 27 August 2022 | The Great Moderation was a period of prosperity and broad macroeconomic stability. The volatility of both inflation and output declined, the length of economic expansions increased, and people in most economies experienced sustained improvements in their standards of living. There is broad agreement that better...

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When people seek medical care or visit other sensitive locations, they may think their presence is confidential. Little do most consumers know that if they have their phones with them, their location – for example, at a women’s health clinic, a therapist’s office, an addiction treatment center, or a place of worship – may be collected by tech companies. From there, that uniquely personal data becomes yet another commodity bought and sold in the shadowy information marketplace. An FTC...

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In parallel with the adoption of EU instruments in the area of civil and commercial law, the EU’s exclusive external competence to negotiate and conclude international conventions has also increased. As a result, the EU (represented by the Commission) has gradually replaced Member States internationally. Where the EU cannot be formally a Contracting Party to an international Convention (because the participation of regional/international organisations is not foreseen in the convention), the EU exercises its competence through its Member States. The...

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The European Commission has found Italy's plan to enable the transfer of certain State guaranteed loans to a newly created platform managed by AMCO S.p.A. to be free of any State aid. The Commission found that, under the scheme, the Italian State will be remunerated in line with market conditions. It also found that the sale of the loans to the platform managed by AMCO as well as any potential new loans granted by it will be carried out on...

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