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Europe Daily Bulletin No. 13189

27 May 2023
Contents Publication in full By article 14 / 22
ECONOMY - FINANCE - BUSINESS / Competition
European Commission authorises takeover by UBS of troubled giant Credit Suisse
Brussels, 26/05/2023 (Agence Europe)

On Thursday 25 May, the European Commission authorised, under the Merger Regulation (EC/139/2004), the unconditional acquisition of the assets and activities of the ailing banking group Credit Suisse Group AG by its competitor UBS Group AG.

Both establishments are global banking groups, both based in Switzerland, offering services in all the main areas of banking and financial services.

The planned merger, notified on 26 April, will create a systemically important banking giant.

Once the...

Contents

TIME OFF: Pentecost
SECTORAL POLICIES
JUSTICE: digitisation of judicial cooperation, EU co-legislators disagree on suspects’ consent to videoconferencing
AGRICULTURE: EU ministers to discuss agricultural markets disrupted by war in Ukraine on 30 May
FISHERIES: EU Council and European Parliament hope to reach agreement on 30 May on reform of control system
CLIMATE: Frans Timmermans praises establishment of EU/India cooperation to seize energy transition opportunities
ENERGY: a number of players in biomethane value chain are calling for a binding target of 35 billion cubic metres of biomethane production per year in EU by 2030
ENVIRONMENT: chemicals, Corporate Europe Observatory denounces lobbying of chemical industry, which is now most powerful force trying to water down EU legislation
SOCIAL AFFAIRS - EMPLOYMENT
SOCIAL: participants in Porto Social Forum hope that progress reports on implementation of European Pillar of Social Rights will become permanent feature
EXTERNAL ACTION
UNITED STATES: EU and Washington try to find right language on China’s uncompetitive practices
LATIN AMERICA: agreement by EU27 on European position for EU/CELAC Summit
SUSTAINABLE DEVELOPMENT: EU to lead UN High-Level Political Forum on Sustainable Development Goals
Russian invasion of Ukraine
UKRAINE: EEAS has reminded Chinese Government’s special envoy of EU’s expectations of China regarding war in Ukraine
INSTITUTIONAL
GENERAL AFFAIRS: respect for rule of law in Poland and Hungary and preparations for European summit on agenda of EU countries
ECONOMY - FINANCE - BUSINESS
COMPETITION: European Commission authorises takeover by UBS of troubled giant Credit Suisse
STATE AID: European Commission gives go-ahead for €300 million Italian measure to modernise rail network
EU RESPONSE TO COVID-19
HEALTH: European Commission seals an agreement with BioNTech-Pfizer on delivery of Covid-19 vaccines
NEWS BRIEFS
FUTURE OF EU: imminent presentation of European ethics body project
DEFENCE: agreement on part of budget allocated to ASAP initiative to strengthen European ammunitions production capacity
WOMEN’S RIGHTS: despite reluctance, Coreper forwards directive on combating gender-based violence to EU Council
ENVIRONMENT: environmental performance of printers, European Commission consults public on a regulation it is preparing
FINANCE: Commission launches a consultation on its retail investment strategy before Council of EU and European Parliament begin their work
EUROPEAN PARLIAMENT: ‘Qatargate’, deposed Vice-President of European Parliament, Eva Kaili, plans to resume her duties at the European Parliament “next week”