
Europe to triple travel permit fee for foreigners
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
The digital travel permit for foreigners to enter the European Union should cost 20 euros ($23), almost triple the original planned fee, under a proposal published Friday. The adjustment to the yet-to-be implemented ETIAS scheme for visa-exempt nationals comes as the European Commission seeks to boost its financial resources to fund an array of priorities from defence to agriculture.The change reflects inflation and additional operational costs, the commission said."It will also bring the cost for a travel authorisation to the EU in line with similar travel authorisation programmes," the EU's top executive body said.Adopted in 2018, the European Travel Information and Authorisation System (ETIAS) regulation originally envisaged a fee of seven euros. Britain's equivalent, known as ETA, comes with a 16 pound fee ($21), while the United States' ESTA permit costs $21.Obtainable online, the European Union's ETIAS permit will be required for the bloc's 27 countries with the exception of Ireland, as well as for Norway, Iceland, Switzerland and Liechtenstein.The permit, valid for three years, will be required for non-EU nationals from countries whose citizens do not need a visa for short stays in Europe, such as Canada, Britain and the United States. Those aged under 18 or over 70 years will be exempt from the fee.Brussels said the scheme was created to identify security, irregular migration and other risks as well as to facilitate border crossing for regular travellers. But its implementation, which was supposed to go hand-in-hand with a new automated border check system, has suffered from delays.The European Parliament and member states have two months to review the new 20-euro fee, which will enter into effect as soon as ETIAS becomes operational -- now expected for the last quarter of 2026. This week the commission proposed a boosted two-trillion-euro long-term budget for 2028-2034, which has already upset some of the EU countries that will have to chip in most of the money.As part of the blueprint, which is subject to negotiation, Brussels said it will seek to raise about 58 billion euros a year collecting money directly through measures like its carbon border tax and a levy on electronic waste.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
27 minutes ago
- Mint
TSX drops as industrial shares slide, wraps up week higher
July 18 (Reuters) - Canada's main stock index closed lower on Friday, dragged down by weakness in industrial stocks, as investors reacted to trade uncertainty following a report that U.S. President Donald Trump was eyeing new tariffs on European Union products. Toronto Stock Exchange's S&P/TSX composite index closed down 72.92 points, or 0.27%, at 27,314.01. For the week the index closed 1.1% higher, after hitting record highs on Thursday. An FT report, which said the Trump administration was eyeing a tariff rate topping 10% even if a wider trade deal with Europe is struck, also sent U.S. indexes lower before they partly recovered. "It's definitely a risk-off environment," said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James. "We've had such a great run up this week on TSX, along with the S&P and Nasdaq... you were going to get a breather on a Friday afternoon," Dehal said. Industrial shares fell 1%, with Canadian Pacific Kansas City dropping 3.6%, the most on the index. Air Canada and Canadian National Railway dropped over 2.4% each. Healthcare stocks fell 1.5% and consumer discretionary stocks declined 1%. On the flip side, utility stocks rose, boosted by Capital Power and TransAlta Corp shares adding 2.3% and 1.9%, respectively. Energy stocks climbed 0.1%, with Headwater Exploration and Baytex Energy rising about 3.8% each. Looking ahead, investors will assess the Bank of Canada's Business Outlook Survey, set for release on Monday, for business expectations amid tariff-related uncertainty. RBC analysts expect early stabilization in businesses' expectations for future sales, input prices and hiring in the second quarter, with Canada's duty-free exemption for trade compliant under the USMCA treaty. "Better than feared growth and higher than wanted inflation topped with the prospect of significant fiscal stimulus spending in the year ahead — leaves a high bar for the BoC to make additional interest rate cuts this year," RBC analysts said in a note. (Reporting by Twesha Dikshit and Nivedita Balu; Editing by Shreya Biswas, Sahal Muhammed and Nia Williams)


Economic Times
an hour ago
- Economic Times
Job market mayhem: Whether you're 22 or 52, job searching in 2025 is a total nightmare
Why are Gen Z grads struggling so much? Live Events What's happening to middle management? Why can't older Americans retire? FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Looking for a job in 2025? You are not alone if it feels more difficult than ever. From recent college graduates to baby boomers postponing retirement, the struggle to find or keep a job affects every generation. The market is tight, competition is fierce, and no one appears job market in the United States in 2025 will affect people of all ages. Gen Z is losing entry-level jobs, millennials and Gen X are in a thinning middle, and boomers are postponing retirement. Each age group is dealing with this bleak employment landscape, as per a report by Business those just starting out, the post-college dream is fading fast. Take 21-year-old Bella Babbitt, for example. A 2024 graduate who earned her degree in just three years, she applied to hundreds of jobs and spent months waiting tables before finally landing a media role, through a family connection, not job boards. 'My parents can't understand how we're applying everywhere and hearing nothing,' she Federal Reserve confirmed what many in Gen Z already knew: the job market for 22-to-27-year-olds with degrees 'deteriorated noticeably' in early 2025. And with government funding cuts, corporate hiring freezes, and the looming shadow of AI, traditional white-collar routes are shrinking fast, as per a report by Business Jones, 26, has a degree in sports communications, $25,000 in student loans, and no job prospects. He's moved back in with his parents and is freelancing to scrape by. 'I'm just trying to find a job, period,' he said those considering grad school or law school are facing new problems, oversaturation, high tuition, and limited payoff. Meanwhile, some Gen Z workers are pivoting to blue-collar fields just to stay afloat, feeling that college no longer guarantees a stable millennials and Gen Xers, the danger lies in the 'Great Flattening.' That's the name some experts are giving to the corporate trend of gutting middle management to reduce costs. It's left experienced professionals stuck in limbo, too senior for junior roles, not quite executive enough for top-tier Cole, 39, was laid off from her product support job in late 2024. Despite keeping her resume sharp and her LinkedIn active, she's still searching. 'It seems like companies either want very senior experience or brand-new grads,' she said. 'There's no space for the middle anymore.'A payroll firm called Gusto found that manager-level firings, especially for people between 35 and 44, have skyrocketed more than 400% since 2022. And job postings for managers are dwindling too. That's forced many mid-career professionals to downgrade their ambitions, with some even applying to entry-level roles just to stay such millennial, Giovanna Ventola, 35, has faced three layoffs in three years. In response, she created Rhize, a job search support group. 'Most members are over 35,' she said, adding that many once earned six figures as directors or VPs but are now just hoping for any paycheck, as per a report by Business once a milestone to celebrate, now feels out of reach for many older Americans. A 2024 AARP report revealed that 20% of Americans over 50 have no retirement savings at all. That's left them working long past the age they planned to step Nordland, 53, has been laid off twice in two years and says she's barely keeping up with her bills. 'I should be 12 years away from retiring, but that's not going to happen,' she said. 'I have no retirement savings.'Herb Osborne, 71, juggles two jobs in California, working full time for a charcuterie company and part time as a hotel auditor. 'Financially, it's imperative that I work,' he said. 'Social Security doesn't cover anything.'A 2024 Harris Poll found that 78% of boomers feel their age hurts their job prospects, and more than half believe it limits their career options. And yet, many keep working. LinkedIn reported that 13% of baby boomers who once listed themselves as retired have since reversed decades of experience and a passion for teaching, Bonnie Cote, a substitute teacher in the Washington, DC, area, says it's difficult to find a job that pays enough to supplement her Social Security, particularly in her job market in 2025 is tough, no matter how old you are or how much experience you have. Gen Z is dealing with broken promises of stability after college, millennials and Gen Xers are stuck in a middle layer of management that is disappearing, and boomers are working longer than they ever planned. The economy is uncertain, hiring is down, and there is a general feeling of being are cutting costs, laying off employees, and freezing hiring, making it difficult for people of all ages to find stable is affected, but Gen Z has fewer entry-level jobs, millennials and Gen X are being laid off, and boomers are postponing retirement due to financial difficulties.


Mint
an hour ago
- Mint
Vivendi Hit by EU Chargesheet for Closing Lagardere Deal Too Soon
(Bloomberg) -- Vivendi SE has been hit with a formal European Union complaint for allegedly closing its takeover of Lagardere SA before obtaining the green light from Brussels. The European Commission said Friday that 'Vivendi exercised decisive influence over Lagardere before the transaction was notified to the commission.' The issuing of a so-called statement of objections could pave the way for future fines of as much as 10% of their combined sales. 'Any potential breach of these rules is a serious matter that must be carefully investigated,' Teresa Ribera, the EU's antitrust chief, said in a statement. 'In this case we are concerned that Vivendi implemented the acquisition of Lagardere before it was legally allowed to do so.' The EU's executive arm takes a dim view of so-called gun jumping — closing a deal before getting blessing from EU regulators — by firms and sees it as a direct attack on its merger review system. It had first started examining potential shortfalls by Vivendi in this regard in June 2023. The regulator also previously took aim at Illumina Inc. and cancer-test provider Grail Inc. for moving ahead with their deal without getting a nod from watchdogs — the merger was eventually ditched amid heavy regulatory scrutiny. Vivendi said in a statement that it 'denies the allegations' and 'will thoroughly review the statement of objections and respond with detailed arguments, with the aim of being cleared of all allegations and securing the closure of the investigation.' Despite the EU's escalation, in 2023 the firm won conditional approval for its takeover of its rival publisher after committing to a 'substantial remedy package.' This included the 'full divestment' of its publishing business, Editis, and a number of units, including publishers such as Robert Laffont, Le Robert and Pocket. The selloffs also encompassed Vivendi's celebrity press magazine Gala, published in France. Earlier on Friday, Vivendi SE surged after France's market regulator ruled billionaire Vincent Bolloré and the eponymous company he controls must make a public offer for shares within six months. The regulator said Bolloré should make a bid for shares of what remains of the original Vivendi, still listed in Paris after last year's breakup of the company. Lagardere is now part of Louis Hachette Group, one of the units split from the conglomerate. (Updates with company comment and French markets regulator's separate decision starting in sixth paragraph) More stories like this are available on