Benchmark interest rates that are critical to financial market stability across Europe, such as the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR), will become more reliable thanks to a new law voted in by Parliament on Thursday. This law aims to clean up the benchmark-setting process, improve transparency, and prevent conflicts of interest like those that led to the LIBOR rigging scandals of recent years. "This law should put an end to manipulation of benchmarks...

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The High Representative and the European Commission set out an integrated response to the challenges of the Arctic. The High Representative for Foreign Affairs and Security Policy and the European Commission have today adopted a policy proposal that will guide the actions of the European Union in the Arctic region. The European Union will step up its existing action and engagement in the region with 39 actions focussing on climate change, environmental protection, sustainable development and international cooperation. The particular...

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The way in which creative works are produced, distributed and enjoyed around the world has been reimagined as a consequence of digital technology, the head of the United Nations World Intellectual Property organization (WIPO) said today. In a message marking World Intellectual Property Day, whose theme this year is Digital Creativity: Culture Reimagined, WIPO Director General Francis Gurry stressed that that the Day, which is celebrated each year on 26 April, is an opportunity to celebrate the creators and innovators...

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Robots are increasingly becoming more important. Not only are they being used in areas such as medicine, agriculture and manufacturing, they are now also capable of driving cars and piloting drones. However, their increasing use and expanding capabilities have significant implications. On 21 April Parliament's legal affairs committee held a hearing to discuss with experts the issues involved, such as safety, liability and risk management. Increasing importance More and more appliances are now able to operate interactively and autonomously to some...

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The Commission is today taking stock of the progress made in the first six months since the adoption of the Capital Markets Union Action Plan and it is publishing the first CMU status report. The Capital Markets Union is an important element of the Commission's priority strategy to support jobs, growth and investment and is a key building block of the Investment Plan for Europe. The objective of the Capital Markets Union (CMU) is to diversify and amplify sources of...

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Financial integration in the euro area is improving, though more slowly Recent financial turbulence should not hamper further integration Further developing European capital markets and integrating retail banking markets enhances the financial system’s resilience, its contribution to cross-country risk-sharing and its ability to finance the real economy The 2016 edition of the ECB’s report on Financial Integration in Europe, published today at a joint conference with the EU Commission at the ECB in Frankfurt, shows that financial integration in the euro area...

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89 420 applications for trade mark protection were received in 2015 by the EU Intellectual Property Office (EUIPO) from the Member States of the European Union (EU), a number about 4 times higher than that of the mid-1990s. Over recent years, the number of EU trade mark (TM) applications originating from EU Member States has constantly risen, with the exception of the slowdown registered with the economic and financial crisis in 2008. Full text available on EUROSTAT website Compliments of the...

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The European Commission published new figures today showing that, in 2015, more than 2,000 dangerous products triggered EU-wide alerts. A key challenge is the increasing share of products bought online from outside the EU. The Commission, EU Member States and businesses are working together to ensure that these unsafe consumer goods are removed from the European market. "The Rapid Alert system has helped coordinate quick reactions between consumer protection authorities to remove dangerous products across Europe. Two challenges lie ahead of...

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On 22 April 2016 the EU and its 28 member states signed the global Paris climate agreement in a high-level ceremony in New York (United States). The agreement was concluded at the UN climate change conference in December 2015, so called COP21, that took place in Paris. The document will be now open for signature for one year. Dutch Minister for the Environment and President of the Council, Sharon Dijksma, said: "This is a historic day for global climate action....

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