Latest news with #EU-headquartered
Daily Mirror
12-07-2025
- Business
- Daily Mirror
Wizz Air UK boss admits passengers will be slapped with higher luggage fees
Wizz Air UK managing director Yvonne Moynihan has warned that passengers will be hit with higher luggage fees if new EU hand luggage legislation is implemented Wizz Air has launched seven new routes, including to a little-known region filled with natural beauty. As of last month, Wizz Air is flying four times a week from Gatwick to Wroclaw in Poland. It will be flying from the same London airport to Warsaw in Poland and Medina in Saudi Arabia from the beginning of August. Over in the West Midlands, Birmingham is now linked up with Rome three times a week as of June, with new flights to Sibiu and Suceava in Romania later this year. When it comes to the Suceava route, the budget carrier will operate flights three times weekly on Mondays, Wednesdays and Fridays, with fares starting from £17.99. Corporate communications manager at Wizz Air Olivia Harangozó said: "We are delighted to be adding Suceava to our route network from Birmingham. The city and surrounding region offer incredible natural beauty and historical significance, making it an ideal destination for travellers hoping to discover somewhere off the beaten track." This week the recently appointed head of Wizz Air UK, Yvonne Moynihan, conceded that the airline would have to raise luggage fees in response to a potential new European Union regulation. In an interview with the Mirror, Moynihan outlined how Wizz Air UK might adapt to new hand luggage rules. While the regulation is still pending, it could force budget airlines like Ryanair, easyJet, and Wizz Air to abandon steep additional fees for secondary cabin bags. The decisive element for budget airline passengers lies in the EU's Transport and Tourism Committee's stipulation: "Passengers should have a right to carry on board one personal item, such as a handbag, backpack or laptop (maximum dimensions of 40x30x15 cm), and one small hand luggage (maximum dimensions of 100 cm and 7 kg) without an additional fee." In practical terms, it means that budget airlines could no longer demand high fees for a supplementary cabin bag. Despite the UK's exit from the EU, the new directives would still influence UK travellers as EU-headquartered airlines, such as Wizz Air, fall within their scope Airline executives have spoken out against the proposal, fearing it will lead to pricier tickets or additional baggage fees in order to compensate for lost revenue. "We highly object, along with the other airlines. It essentially erodes consumer choice," voiced Ms Moynihan regarding the decision. The head of the fledgeling budget carrier drew parallels to Ourania Georgoutsakou's critique, the managing director of Airlines For Europe, who said that the policy is akin to "going to the cinema and being forced to have Coke and popcorn with your ticket." Ms Moynihan anticipates the EU legislation will be diluted before passing into law but warned that carriers like Wizz Air may ultimately raise their luggage charges to makeup for decreased profits. At present, ancillary services such as seat selection and baggage fees contribute nearly half of Wizz Air's revenues.
Observer
08-04-2025
- Business
- Observer
European pharma companies warn tariffs could expedite shift to US
FRANKFURT/LONDON: European pharma companies warned the European Commission president in a meeting on Tuesday that US President Donald Trump's tariffs would expedite the industry's shift away from Europe and toward the United States, two industry sources told Reuters. Pharma trade lobby EFPIA called on EU President Ursula von der Leyen to push for "rapid and radical action" to mitigate the "risk of exodus" to the United States, the sources said, speaking on condition of anonymity because they were not authorised to share details on the meeting. The meeting was attended by the CEOs of some EU-headquartered pharma companies as well as EFPIA and biotech lobby Europabio. In order to stop an exodus of investment and research and development from Europe, executives said the EU needs to make changes to the regulatory framework for the industry to make it more conducive to innovation and strengthen Europe's intellectual property provisions, the sources said. The EFPIA declined to comment. The European industry's demands were not new as EFPIA has repeatedly warned that the pharma sector could lose out to increased competition if the EU does not amend a proposed revamp of laws governing the sector. The United States is the biggest pharma market by sales for all big pharma companies, both US and European headquartered ones. Pharmaceuticals were exempt from the duties Trump announced last week, but he said they will face separate tariffs. While announcing the raft of tariffs, Trump predicted that pharma companies will come "roaring back" to the US, and warning if they don't, "they got a big tax to pay". EU medicine and pharmaceutical product exports to the United States totalled about 90 billion euros ($97.05 billion) in 2023, according to latest Eurostat data. In 2021, North America accounted for 49.1% of world pharmaceutical sales compared with 23.4% for Europe, according to the latest statistics available from EFPIA. A second child with measles has died in Texas, in an outbreak of the childhood disease that has resulted in nearly 500 cases in Texas and has spread across 22 states. The European Commission on Monday proposed counter-tariffs of 25% on a range of US goods, including soybeans, nuts and motorcycles. — Reuters
Yahoo
07-04-2025
- Automotive
- Yahoo
EU Commission head discusses U.S. tariff response with auto, steel and pharma leaders
By Julia Payne, Maggie Fick BRUSSELS/LONDON (Reuters) -European Commission President Ursula von der Leyen held a call with metals industry representatives on Monday and was speaking to the automobile sector later to discuss how to respond to U.S. tariffs. The calls aimed to collect data for further counter-measures beyond Brussels' upcoming response to Washington's steel duties, which will be voted on later this week. A call with the European pharmaceuticals industry is planned for Tuesday. European and Asian shares and oil prices plummeted on Monday on fears that U.S. President Donald Trump's duties could push up prices, weaken demand and even trigger a global recession. Von der Leyen's invitation said the EU would this year propose "a trade measure replacing the steel safeguards as of 1 July 2026" to protect against "negative trade-related effects caused by global overcapacities". A source who attended the metals call said the group asked for measures to deal with "indirect impacts" from the tariffs, and urgent action to keep aluminium and steel scrap in the EU. The Commission said last month it would consider export duties on EU scrap sales. It also tightened existing safeguards on steel to cut imports by 15% on April 1. "Constructive meeting ... Sense of urgency, clarity of purpose is much increased compared to a few months ago," the source said. The call with the auto industry was scheduled for 3:30 p.m. (1330 GMT), according to ACEA, the industry group in Brussels. The group have requested a negotiated solution, a spokesperson added. Carmakers have been pushing the EU to lower its tariffs on U.S. car imports. BMW in January urged a cut to 2.5% from 10%. The call was set to include lobby groups as well as CEOs and chairs from BMW, Volkswagen, Stellantis, Scania, Daimler Truck and Bosch. The Commission initially invited the chief executives of EU-headquartered pharma companies for a meeting, three industry sources said. A fourth source said the Commission may have later invited Swiss-based firms such as Novartis and Roche. Reuters was not immediately able to confirm this. A Roche spokesperson said the company was an active member of EFPIA but declined to comment further. The European big pharma trade lobby EFPIA and the European biotech group Europabio both said their directors general were attending. An invitation letter said the meeting was scheduled for 10:30 a.m. (0830 GMT) on Tuesday. Pharmaceuticals were exempt from the duties Trump announced last week, but he says they will face separate tariffs. The industry will push the Commission to spell out how it plans to enable pharma and biotech firms to manufacture more in Europe, a source attending Tuesday's meeting said. They said that could include streamlining regulatory processes that have recently discouraged some companies from conducting clinical trials in Europe. Sign in to access your portfolio
Yahoo
07-04-2025
- Automotive
- Yahoo
EU Commission head discusses U.S. tariff response with auto, steel and pharma executives
By Julia Payne and Maggie Fick BRUSSELS/LONDON (Reuters) - European Commission President Ursula von der Leyen held a call with metals industry representatives on Monday and was speaking to the automobile sector later to discuss how to respond to U.S. tariffs, sources and a letter showed. The calls aimed to collect more data to strategise further trade counter-measures beyond Brussels' upcoming response to Washington's previously announced steel duties, which will be voted on later this week. A third call with the European pharmaceuticals industry is planned for Tuesday. Asian equity markets sank, European shares crashed to a 16-month low and oil prices plummeted on Monday as investors feared the duties Trump announced last week could lead to higher prices, weaker demand and potentially a global recession. Von der Leyen's invitation letter said the EU would later this year propose "a trade measure replacing the steel safeguards as of 1 July 2026, providing a highly effective level of protection against negative trade-related effects caused by global overcapacities". "The views from the sector will be key in further elaborating our common response to the U.S. tariffs," she added. The call with the European auto industry was scheduled for 3:30 p.m. (1330 GMT), according to ACEA, the industry group in Brussels. A spokesperson for ACEA said the Commission wanted to 'gather [industry] analysis on the possible impact of U.S. tariffs on the EU automotive sector and to explore proposals for the most effective EU response'. The group have requested a negotiated solution, the spokesperson added. The call was set to include lobby groups as well as CEOs and chairs from BMW, Volkswagen, Stellantis, Scania, Daimler Truck and Bosch. Late last week, the European Commission initially invited the chief executives of EU-headquartered big pharma companies for a meeting, three industry sources familiar with the matter told Reuters. A fourth source said the Commission may have later extended invitations to Swiss-based firms such as Novartis and Roche. Reuters was not immediately able to confirm this. Roche declined to comment. The European big pharma trade lobby EFPIA and the European biotech lobby group Europabio both confirmed to Reuters that their respective directors general are attending. An invitation letter received by a participant said the meeting was scheduled for 10:30 a.m. (0830 GMT) on Tuesday.
Yahoo
07-04-2025
- Automotive
- Yahoo
EU Commission head discusses U.S. tariff response with auto, steel and pharma executives
By Julia Payne and Maggie Fick BRUSSELS/LONDON (Reuters) - European Commission President Ursula von der Leyen held a call with metals industry representatives on Monday and was speaking to the automobile sector later to discuss how to respond to U.S. tariffs, sources and a letter showed. The calls aimed to collect more data to strategise further trade counter-measures beyond Brussels' upcoming response to Washington's previously announced steel duties, which will be voted on later this week. A third call with the European pharmaceuticals industry is planned for Tuesday. Asian equity markets sank, European shares crashed to a 16-month low and oil prices plummeted on Monday as investors feared the duties Trump announced last week could lead to higher prices, weaker demand and potentially a global recession. Von der Leyen's invitation letter said the EU would later this year propose "a trade measure replacing the steel safeguards as of 1 July 2026, providing a highly effective level of protection against negative trade-related effects caused by global overcapacities". "The views from the sector will be key in further elaborating our common response to the U.S. tariffs," she added. The call with the European auto industry was scheduled for 3:30 p.m. (1330 GMT), according to ACEA, the industry group in Brussels. A spokesperson for ACEA said the Commission wanted to 'gather [industry] analysis on the possible impact of U.S. tariffs on the EU automotive sector and to explore proposals for the most effective EU response'. The group have requested a negotiated solution, the spokesperson added. The call was set to include lobby groups as well as CEOs and chairs from BMW, Volkswagen, Stellantis, Scania, Daimler Truck and Bosch. Late last week, the European Commission initially invited the chief executives of EU-headquartered big pharma companies for a meeting, three industry sources familiar with the matter told Reuters. A fourth source said the Commission may have later extended invitations to Swiss-based firms such as Novartis and Roche. Reuters was not immediately able to confirm this. Roche declined to comment. The European big pharma trade lobby EFPIA and the European biotech lobby group Europabio both confirmed to Reuters that their respective directors general are attending. An invitation letter received by a participant said the meeting was scheduled for 10:30 a.m. (0830 GMT) on Tuesday. Sign in to access your portfolio
