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Image header Agence Europe
Europe Daily Bulletin No. 13686
Contents Publication in full By article 22 / 30
COURT OF JUSTICE OF THE EU / Competition

Reduced fine for Credit Suisse for taking part in cartel in European FOREX sector

In a ruling handed down on Wednesday 23 July (Case T-84/22), the General Court of the European Union reduced the fine that the European Commission had imposed on Credit Suisse (see EUROPE B12845A26) at the end of 2021 for participating in a cartel in the European spot foreign exchange (FOREX) sector involving eleven currencies, from €83.2 to €28.9 million.

The UBS Group, which took over Credit Suisse in May 2023 (see EUROPE B13189A14), believes it has been wronged and is challenging...

Contents

SECTORAL POLICIES
JUSTICE/DIGITAL: protection of personal data and competitiveness - EU27 justice ministers not very keen on reopening regulations
HOME AFFAIRS: violence against children; Danish Minister of Justice reiterates determination to reach agreement in EU Council on ‘CSAM’ regulation
MIGRATION: instrumentalisation - EU Agency for Fundamental Rights asks that not all types of irregular arrival be treated in same way
ENERGY: several European Parliament groups in favour of abolishing emergency clause to resume use of Russian gas imports
CLIMATE: France considers LULUCF sector’s contribution to 2040 target of 90% reduction in greenhouse gas emissions to be unrealistic
COMPETITIVENESS: EU Member States adopt their position on ‘omnibus’ directive digitalising procedures
DIGITAL/PATENTS: Tiemo Wölken takes European Commission to court over withdrawal of ‘AILD’ Directive and ‘SEP’ Regulation
PLANTS: EFSA completed an assessment of 47 EU quarantine pests
ENVIRONMENT: European Commission launches call for evidence with view to ‘environment’ ‘omnibus’
REGIONS: European Commission announces finalists of REGIOSTARS 2025
EXTERNAL ACTION
UNITED STATES: EU and Washington close to agreement for a 15% tariff on European products
JAPAN: faced with economic and security challenges, EU emphasises its “unique bond” with Tokyo
MIDDLE EAST: several EU countries insist on rapid European response to deteriorating situation in Gaza
UKRAINE: European leaders worry about backtracking on independence of anti-corruption bodies
DEVELOPMENT: European Centre for Development Policy Management identifies “strategic vacuum” in EU’s post-2027 budget proposal
ECONOMY - FINANCE - BUSINESS
COMPETITION: European Commission opens in-depth investigation into UMG’s proposed acquisition of Downtown
TAXATION: total VAT declared via one-stop shops increased by 26% between 2023 and 2024, according to European Commission
TAXATION: European Commission continuing its work with US authorities and EU Member States on US ‘FATCA’ law
ECONOMY: average government deficit to GDP is 2.9% and average government debt to GDP is 88.0% in euro area in first quarter of 2025
EDUCATION - YOUTH - CULTURE - SPORT
EDUCATION: inclusiveness, an Erasmus+ objective with room for improvement, sees real progress in recent programmes
FUNDAMENTAL RIGHTS - SOCIETAL ISSUES
FUNDAMENTAL RIGHTS: MFF 2028-2034 - some civil society organisations welcome budget increase, others deplore merging of programmes
COURT OF JUSTICE OF THE EU
COMPETITION: reduced fine for Credit Suisse for taking part in cartel in European FOREX sector
FISHERIES: European Commission is asked to reconsider its objection to tuna protection measure
EUROPEAN COMMISSION: General Court of EU annuls appointment of a senior official in Legal Service
NEWS BRIEFS
DEMOCRACY: EU Council validates and forwards text of agreement with European Parliament on reform of European political parties
ENVIRONMENT: Jacques Delors Institute calls on EU to “keep ambition at heart of Global Plastics Treaty”
INDUSTRY: European Commission consults on Critical Raw Materials Act
SYRIA: Hadja Lahbib welcomes arrival of first humanitarian convoy in Sweida
TRANSPORT: European Commission registers a European citizens’ initiative on air passenger rights
Kiosk
Kiosk: No. 133