Search Results for: Spain

THE EUROPEAN Union (EU) and its member states are loosening their subsidy rules and reviewing environmental controls as they consider how to help Europe’s automobile sector recover from the beating delivered by the Covid-19 pandemic. With EU passenger car sales tumbling 76.3% year-on-year in April (these figures exclude Britain, with a 97% fall), EU automobile industry association ACEA, parts association CLEPA, repairers and dealers’ federation CECRA and tire makers organisation ETRMA have called on the EU to “consider temporary flexibilities in competition rules” restricting takeovers and subsidies.…

Paint and coating manufacturers and retailers in North Africa have been struggling with the outbreak of the Covid-19 virus, just as have their counterparts in other regions, however some markets and industries in the region seem better placed to cope with the pandemic’s economic impact than others.…

In a case that could open the floodgates to multimillion dollar cross border lawsuits against auto makers involved in Europe’s 2015 ‘Dieselgate’ scandal, a senior European Union (EU) judge has advised that car buyers should be able to sue Germany-based Volkswagen from a court in neighboring Austria.…

The leader of Spain’s food manufacturing industry has called on the country’s government to offer more help in supplying personal protective equipment (PPE) to companies who have stayed open during the Covid-19 pandemic to feed consumers staying at home. Mauricio García de Quevedo, director general de la Federación Española de Industrias de Alimentación y Bebidas (FIAB), told just-food that companies and workers in the food and beverage industry (nearly half a million people), “have reacted in an exemplary manner; they have never stopped supplying the public with the products they need, and maintain the variety, quality and safety that characterise our products.”…

The president of the Turkish Clothing Manufacturers’ Association (TGSD) has complained about the treatment his members have experienced at the hand of international brands during the Covid-19 crisis. By cancelling current and future orders, extending payment terms and demanding discounts, brands have devastated the Turkish garment manufacturing sector, with 80% of factories stopping production, and leaving them with an estimated USD3 billion in inventory on hold, said the TGSD boss.…

Nicotine consumption is declining worldwide, with smokers are consuming less, as well as e-cigarette and heated tobacco users, according to market research provider Euromonitor International’s ‘Nicotine Survey, Exploring the Modern Nicotine Landscape’.

“Overall [the study] shows nicotine prevalence is declining not growing, and it is clear to see there isn’t much evidence that greater availability of nicotine formats is increasing smoking prevalence among adults,” said Shane MacGuill, head of tobacco research at Euromonitor International, in a webinar attended by TJI.…

Only five European Union (EU) member states out of the current 27 have fully and properly complied with a requirement to set up public ultimate beneficial ownership (UBO) registers by January 10 (2020) under the fifth anti-money laundering directive (5AMLD), according to research by campaign group Global Witness.…

NEW fraud detection solutions based on a “centralised management platform across all lines of business” are being made more feasible by new financial industry customer authentication standards, research indicates. These allow a consortia of organisations’ data (or data from previously siloed wings of one major institution) to be pooled, allowing bulk analysis of big data, helping update algorithms, encouraging anti-fraud system vendors to offer cross-functional services as clients seek to consolidate contracts and end silo-based approaches to counter-fraud activities, industry insiders predict.…

AS online food sales boom to aid self-isolation during the Covid-19 outbreak, the risks of counterfeiting and piracy within the food and drink sectors will become more evident. This comes as regulators are mulling tougher action to fight this commercial crime.…

While new financial technologies and associated developments in machine learning and artificial intelligence offer AML/CFT solutions, anti-money laundering specialists are concerned about new risks being posed by new business and industrial innovations.

Banks are starting to adopt AI-based machine learning, but terrorists and criminals can use technology too: “It is really an AI arms race in financial crime”, said Kamer Yüksel, chief data scientist for Munich-based artificial intelligence start-up hawk:AI’s and author of more than 35 publications on AI.…