British Chancellor George Osborne has announced a huge new package of cuts totaling £25 billion, including one of the biggest squeezes on benefits in recent times, which will come into force if the Tories win next year’s election.
The European Commission in Brussels is preparing to accuse the world’s biggest company of getting special treatment from the Irish government in exchange for creating jobs. It could result in a record fine of several billion euro.
Brits are the happiest they've been since 2011 as a result of the UK's “improving economy”, a UK government report claims. But experts argue that austerity, public sector cuts and rising inequality are anything but a recipe for national wellbeing.
The EU says it is ready to discuss changes to its trade pact with Ukraine if Kiev asks for revisions. The statement came after Vladimir Putin sent a letter to the presidents of the European Commission and Ukraine, calling for changes to the deal.
A controversial plan to pay Italian families 30 euros for each migrant they agree to host, to improve “social integration” and ease pressure on refugee centers, has got backing from Rome’s Mayor. Critics describe the idea as an “insult to Italians.”
The geopolitical crisis in Ukraine could cut Russia’s balance of payments by the equivalent of 2% of GDP, and lower oil prices could knock off another 2%, Maksim Oreshkin, head of Russia’s Finance Ministry's strategic planning department, said.