
Cadbury-parent Mondelez calls for delay to EU deforestation law
The company supports the EU Deforestation Regulation (EUDR) in principle, Massimiliano Di Domenico, vice president of corporate and government affairs for Europe said, but urged policymakers to account for "on-the-ground realities."
Di Domenico was speaking at the European Parliament last week and later posted his comments on LinkedIn.
In July last year, Reuters reported that Nestle, Mars Wrigley, and Ferrero backed the law in a joint paper, while urging Brussels to provide clearer guidance and support to help companies meet the compliance deadline.
The proposed law, which aims to end 10% of global deforestation fuelled by EU consumption, requires companies and traders importing soy, beef, cocoa, coffee and related products to prove their supply chains do not contribute to the destruction of the world's forests, or face hefty fines.
Di Domenico said the cocoa sector is "under huge pressure" due to soaring prices, declining production, and digital infrastructure gaps in origin countries which could affect compliance and disrupt supply chains.
"That's why we are respectfully, transparently and responsibly calling for a 12-month delay - not to dilute ambition, but to enable practical, inclusive, and effective implementation," Di Domenico said in his post.
The EU has already delayed its launch by a year to December 2025, following complaints from trading partners including Brazil and the US, and cut back reporting rules after industry criticism.
Hashtags

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


Irish Times
an hour ago
- Irish Times
European shares dip ahead of US tariffs
European shares ended lower on Friday as losses in banks and mining-related stocks weighed, with focus now shifting to the July 9th deadline for trading partners to reach a deal with the United States. US President Donald Trump said Washington will start sending letters with tariff rates to countries on Friday, subduing markets globally. With Trump's 90-day pause on higher US tariffs ending next week, investors have taken a cautious stance as several large trading partners, including the European Union (EU), are yet to secure trade deals. Dublin The Irish index of shares closed the week marginally lower, falling 0.33 per cent to end the week at 11,320. READ MORE The main banking stocks edged lower, mirroring the decline in the wider market and trends elsewhere in Europe. AIB was just under half a per cent lower by the end of the day, clawing its way back to €6.82 after hitting a low of €6.82 early in the session. Bank of Ireland was down 0.37 per cent, after an early high of €12.22 dipped to a €12.04 low, settling down at €12.12. Permanent TSB ended the day up almost 1 per cent, but volumes were thin in comparison. Food groups Kerry and Glanbia were both off, with the latter down 0.39 per cent and the former shedding 0.16 per cent. Shares in insulation specialist Kingspan were marginally higher, gaining back some of the ground it lost on Thursday, ending the day at €70.90. Hotel group Dalata Hotel shed 0.15 per cent over the day, and airline Ryanair fell 0.55 per cent. The airline has been hampered by strike action among French air traffic controllers over the past two days, leading to the cancellation of more than 400 flights. London London's main stock indexes closed mixed on Friday, with investors assessing domestic fiscal worries and the rate cut path. The blue-chip FTSE 100 was unchanged on the day but notched up a second weekly gain, while the domestically-focused FTSE 250 lost 0.7 per cent on Friday and ended the week lower. Home builder stocks led sectoral losses on Friday, dropping 2.1 per cent after MJ Gleeson warned of profit being at the lower end of market expectations for fiscal 2026 due to subdued demand. The group slumped 6.7 per cent and was the top decliner on the smallcap index. Larger peers Vistry, Persimmon and Taylor Wimpey fell 2.8 per cent, 1.3 per cent and 1.6 per cent, respectively. Industrial metal stocks fell, tracking lower metal prices. Anglo American, Antofagasta and Glencore slipped more than 1 per cent each. Atalya lost 3 per cent. Among individual stocks, greeting card and gifting retailer Moonpig fell 8.7 per cent to the bottom of the midcap index after a rating downgrade by Deutsche Bank. Europe The pan-European STOXX 600 index closed 0.5 per cent lower, clocking a marginal weekly fall. Other regional indexes also declined, with Germany's DAX down 0.6 per cent and France's CAC 40 losing 0.8 per cent. Spain's benchmark lagged with a 1.5 per cent fall. Euro zone banks slid 1,3 per cent, with Spain's BBVA topping declines at a 2.6 per cent fall. Helping limit losses, healthcare advanced 1.1 per cent. Drugmakers Novartis, Roche and Novo Nordisk – some of the biggest weights on the STOXX 600 – all clocked gains. Shares of French spirits makers Pernod Ricard, Remy Cointreau and LVMH – the owner of Hennessy – all finished well off their session lows after China spared major cognac producers from new duties on EU brandy, provided they sell at a minimum price. Despite a roaring start to the year, European shares fell behind the US S&P 500 on year-to-date basis on Friday, driven dominantly by tech shares. The STOXX 600 was last up 6.6 per cent for 2025, compared with the 6.7 per cent advance for the S&P 500. Among individual stocks, Germany's Rheinmetall advanced 3.3 per cent after JP Morgan and Deutsche Bank raised their price targets on the defence contractor. New York The US markets were closed due to the July 4th holiday.


Irish Daily Mirror
an hour ago
- Irish Daily Mirror
Ryanair introducing new baggage rule for passengers 'within weeks'
Ryanair has announced that it will be introducing some massive changes to its baggage rules for passengers. The budget airline, which serves as the largest European airline in number of passengers, confirmed on Friday that it would be introducing changes to its free 'personal bag' size, meaning passengers can take larger cabin bags on board with them - and not incur extra fees. The move comes in response to an attempt by the European Commission to encourage airlines across Europe to standardise, RSVP Live reports. Despite this, Ryanair has said its new change, which will come into effect within weeks, is actually "bigger than the EU standard". Here is everything you need to know: The airline has confirmed it is increasing the size of the free personal bag passengers can bring on board from 40 x 25 x 20cm to 40 x 30 x 20cm. The free bag is included in all fare types, you don't need to pay extra on top of your ticket to bring it. Generally it is a backpack or handbag that you are able to fit under your seat. Even though the change is just a few centimetres bigger, it increases the capacity from 20 to 24 litres, which could make a difference to how much luggage you need to bring on board. The change is set to come into effect in just a few weeks, which is good news for anyone jetting off for the end of summer. A statement said: "Ryanair's current free 'personal bag' size is 40x25x20cm. Following the new EU minimum bag size of 40x30x15cm, Ryanair will increase its max 'personal bag' dimensions to 40x30x20cm, so that Ryanair's 'personal bag' allowance is bigger than the EU standard. "This change will be implemented over the coming weeks, as our airport bag sizers are adjusted." Ryanair's new personal bag allowance rule is "bigger than the EU standard". It is bigger than Aer Lingus' current allowance (33 x 25 x 20cm). The allowance for bringing 10kg luggage on the plane is not changing. The dimensions remain at 55 x 40 x 20cm.


RTÉ News
2 hours ago
- RTÉ News
Breaking EU diplomats downbeat as US trade deal not yet reached
EU diplomats have said there is still no trade deal with the US, and have given a downbeat assessment of US plans to sort trading partners into three sub-categories ahead of next week's deadline to reach a trade deal. The deadline to reach agreement expires next Wednesday, when a 90-day pause on higher tariff rates runs out. The assessment comes following a long briefing of EU ambassadors by the EU's trade commissioner Maros Sefcovic in Brussels this afternoon. It followed his 48 hour trip to Washington where he held talks with the US trade, commerce and treasury secretaries. According to one EU diplomat, the Commission believes the US will address various trading partners according to three separate categories early next week. Under the first scenario, the current reciprocal tariff pause would remain for those trading partners where agreement in principle has been reached, with possible further tariff relief later. A second scenario would see previous country-specific tariffs reinstated where there are ongoing negotiations, but no agreement in principle yet. In that scenario tariffs on EU goods would revert to the 20% rate first announced on 2 April, during President Trump's so-called "Liberation Day" announcement and would remain until a final deal is done. A third scenario would be a return to the previous 20% tariff rate which would remain until further notice. "It's still unclear how Trump would classify the EU, but from these talks it's clear that in all scenarios above an imbalance in trade measures between the EU and US remains," said the diplomat. "This begs the question, asked by a number of ambassadors today, how we prepare to remedy that imbalance." The EU is currently subject to a 10% tariff across the board, while cars and car parts are subject to a 25% tariff, and steel and aluminium are tariffed at 50%. The EU suspended €22 billion in retaliatory tariffs in response to the steel and aluminium tariffs, and has €95 billion worth of tariffs on US goods in reserve for further counter measures if there is no deal next week. Sources have been pessimistic about a positive outcome next week, although diplomats say contacts will continue over the weekend. Diplomats have said it is unclear if the US side has agreed to any sectoral carve outs, such as pharmaceuticals, semiconductors or aviation - a key EU demand - as the minimum the EU has sought to rebalance the lingering 10% tariff.