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Straits Times
3 days ago
- Business
- Straits Times
Trust in European Union at highest since 2007, poll shows
FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium March 18, 2025. REUTERS/Yves Herman/File Photo Trust in European Union at highest since 2007, poll shows Trust in the European Union and its institutions has risen to an almost two-decade high, a report released on Wednesday shows, as U.S. President Donald Trump upends global trade and foreign policy. The Eurobarometer poll by the European Commission shows 52% of Europeans trust the EU, the highest figure since 2007, with young people aged 15-24 expressing the strongest confidence at 59%. Only 36% of respondents said they trust their national governments. The findings come amid unprecedented tensions between the bloc and the U.S. and just days after Trump delayed threatened 50% tariffs on EU imports until July 9, allowing for continued negotiations between Washington and Brussels. Trump was not mentioned directly in the questions. The survey was conducted between March 26 and April 22 across all 27 EU member states, with 26,368 face-to-face interviews. Support for the euro reached the highest ever, with 74% of all EU citizens and 83% of euro zone residents backing a European economic and monetary union with one currency. Despite strong support for the common currency, Europeans remain divided on current economic conditions, with 44% describing the European economy as good, but 48% viewing it negatively. However, 43% expect economic conditions to remain stable over the next year. The poll also reveals strong support for other areas of EU integration, particularly in security and defence, where 81% of respondents favour a common policy among member states - the highest level since 2004. The EU on Tuesday approved the creation of a 150 billion-euro ($170 billion) arms fund, driven by fears of a Russian attack in the coming years and doubts about U.S. security commitments to the continent. Support for the EU's Ukraine policy remains strong, with 77% of respondents viewing Russia's invasion as a threat to EU security and 72% backing economic sanctions against Russia. "Russia's invasion of Ukraine continues to be considered as the most important issue at EU level," Eurobarometer said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
4 days ago
- Business
- Straits Times
Norway plans $49 million annual tax cut for some young workers
FILE PHOTO: Jens Stoltenberg, the then NATO Secretary General, reacts during an interview with Reuters at the alliance's headquarters in Brussels, Belgium September 30, 2024. REUTERS/Yves Herman/File Photo OSLO - Norway plans to randomly select 100,000 people born between 1990 and 2005 to receive annual tax cuts of up to $2,700 for several years, aiming to measure the effect on income and employment, the Labour Party government said on Tuesday. Facing rising social security payments and a shortage of workers in many sectors, successive Norwegian governments have explored ways to boost labour market participation by tweaking rules on state financial support and improving job training. But Tuesday's proposal by Finance Minister Jens Stoltenberg and Labour Minister Tonje Brenna takes this a step further, offering tax cuts for about 8% of workers between 20 and 35 years of age, while the rest see no change. If approved by parliament, the group of 100,000 people would become part of an academic study and receive the tax cuts of up to 27,500 Norwegian crowns annually for the next three to five years. They will be compared with those who do not receive the same cuts. "This will give us strong data on whether such a tax deduction really boosts youth employment, and on how much more or less those who are already in a job will work," the finance ministry said in a statement. The measure was estimated to cost some 500 million Norwegian crowns ($49 million) per year, the finance ministry said. Norway has a $1.8 trillion sovereign wealth fund, the world's largest, and spends tens of billions of dollars from the fund each year. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
4 days ago
- Business
- The Star
Pornhub, Stripchat, XNXX, XVideos targeted in EU investigation
FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium March 18, 2025. REUTERS/Yves Herman/File Photo BRUSSELS (Reuters) -Adult content platforms Pornhub, Stripchat, XNXX and XVideos will be investigated for suspected breaches of EU online content law, EU regulators said on Tuesday. The companies were designated as very large online platforms under the Digital Services Act (DSA) in 2023, which requires them to do more to tackle illegal and harmful content on their platforms. The European Commission said the companies have not complied with rules requiring them to put in place appropriate measures to protect minors from adult content. Separately, the EU executive said EU countries will coordinate actions against smaller pornographic platforms to protect children. (Reporting by Foo Yun Chee)
The Star
6 days ago
- Sport
- The Star
Soccer-Union Saint-Gilloise end 90-year wait for Belgian league title
FILE PHOTO: Soccer Football - Europa League - FC Twente v Union Saint-Gilloise - De Grolsch Veste, Enschede, Netherlands - November 28, 2024 Union Saint-Gilloise coach Sebastien Pocognoli before the match REUTERS/Yves Herman/File photo (Reuters) - Union Saint-Gilloise ended their 90-year wait for the Belgian league title but had to endure a nervy afternoon before beating visitors Gent 3-1 on Sunday to finish three points ahead of second-place Club Brugge. The Brussels club went agonisingly close in the last two seasons and faced the potential of another last-day calamity before substitute Promise David came on in the second half to score twice in the space of seven minutes and ensure their title triumph. Union started the season's last matchday on Sunday one point ahead of defending champions Club Brugge, who were hosting Antwerp, and all looked to be going to plan when Franjo Ivanovic put Union 1-0 up after 11 minutes. The permutations got even better for Union when Antwerp went ahead at Club Brugge but on the stroke of halftime Gent equalised through Andri Gudjohnsen while at the same time in Bruges the hosts got back level with Antwerp. Union remained tenuously in top spot as the second half in both matches kicked off until the Canadian-born David came off the bench to steer home his first in the 68th minute and then head home another in the 75th minute to kick off the celebrations at Brussels' compact Stade Joseph Marien. Union, coached by 37-year-old former West Bromwich Albion and Brighton defender Sebastien Pocognoli, ended the season with 56 points while Club Brugge, whose game with Antwerp ended 1-1, finished with 53. Formed in 1897, Union won 11 league titles between 1904 and their last in 1935 but went into serious decline in the early 1960s after being relegated, ending up in the fourth tier of Belgian football some two decades later. But a revival sparked by investment from Tony Bloom, the owner of English Premier League club Brighton & Hove Albion, saw Union move up to the second division and then win promotion to the top flight in 2021 after a 48-year absence. They finished runners-up in their first season back and then came within minutes of the title before having it snatched away in a dramatic finish to the 2022-23 campaign. They were second again last year, a point behind Club Brugge but finally got over the line on Sunday. (Writing by Mark Gleeson in Cape Town; Editing by Toby Davis)
The Star
23-05-2025
- Business
- The Star
Workday forecasts lukewarm quarterly subscription revenue, shares fall
FILE PHOTO: The logo of Workday is seen at the entrance of the company's temporary stand ahead of the World Economic Forum (WEF) in Davos, Switzerland January 18, 2025. REUTERS/Yves Herman/File Photo (Reuters) -Workday forecast second-quarter subscription revenue in line with Wall Street expectations on Thursday, anticipating weakening client spending on its human capital management software due to economic uncertainty, sending its shares down 5% in extended trading. The human capital management industry is grappling with softening spending by enterprise clients due to economic uncertainty that has pressured tech budgets. "We remain focused on executing in this uncertain environment and are reiterating our fiscal 2026 subscription revenue guidance of $8.8 billion," said Chief Financial Officer Zane Rowe. Workday expects subscription revenue of $2.16 billion for the second quarter. It also announced a new buyback program to acquire an additional $1 billion worth of shares. The company competes against Oracle and SAP in the large enterprise space, both of which have larger overall back-office application businesses. Competition in the human capital and financial management software market is increasing, which could lead to pricing pressure, analysts have said. The U.S. Office of Personnel Management, the federal human resources agency at the heart of billionaire Elon Musk's DOGE efforts to slash the federal workforce, earlier this month canceled a contract it had awarded to Workday. The contract for a new cloud-based HR platform was awarded without seeking bids from rivals. Workday's total revenue for the first quarter, ended April 30, came in at $2.24 billion, compared to estimates of $2.22 billion, according to data compiled by LSEG. It reported subscription revenue of $2.06 billion, while analysts were expecting $2.05 billion. On an adjusted basis, Workday earned $2.23 per share in the quarter, compared with estimates of $2.01 apiece. (Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
