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European Edition
3rd April 2025
 
THE HOT STORY
EU responds to Trump's tariffs
The president of the European Commission Ursula von der Leyen has vowed Europe will stand together in response to US tariffs, warning of further countermeasures if negotiations fail. Von der Leyen also spoke of the "immense consequences," of the tariffs, labelling them as a "major blow" to the world economy. She said there was “no clear path through the complexity and chaos that is being created as all US trading partners are hit,” but she insisted the EU’s unity “is our strength” and the bloc would be prepared to respond with calibrated countermeasures. Meanwhile, Italian prime minister Giorgia Meloni called the introduction of US tariffs “wrong” as she vowed to “do everything we can to work towards an agreement with the United States, with the aim of avoiding a trade war that would inevitably weaken the West in favour of other global players.”
HIRING
Foreign tech workers campaign against new Swedish citizenship law
Eric Peterson, a Spotify software engineer, has launched a petition against Sweden's new law tightening citizenship requirements, which he believes will deter highly skilled foreign workers. The letter argues that extending the residency requirement from five to eight years will diminish Sweden's appeal to skilled workers and that retroactive application of the law could harm trust in Swedish institutions. Peterson hopes to highlight the economic implications of the proposed changes to influence the government's decision-making process. "I've been very surprised and pleased at the volume of signatures that we've received and the feeling behind it," Peterson told The Local. "We're at a little over 130 signatures right now, which is way more than I expected, because I'm not broadcasting this. This is just going through the whisper networks of immigrants in tech in Sweden."
Trump's war on US law firms could hit London hiring

The ongoing conflict between Donald Trump and US law firms is expected to deter some students on both sides of the Atlantic from pursuing careers in elite practices. The orders are aimed at firms the Trump administration claims have been engaged in litigation that was detrimental to US interests. Brad Karp, chair of Paul Weiss, said an executive order which targeted the firm "could easily have destroyed" it.  The lack of a united response from large practices has left some junior lawyers feeling disempowered, and, as a result, younger lawyers may gravitate towards smaller litigation specialists. One lawyer notes that "law students who are considering offers from the US shops might have second thoughts."


TECHNOLOGY
AI set to boost Dutch productivity, ING report says
According to an analysis by ING, artificial intelligence has the potential to significantly enhance productivity in the Dutch labour market, outpacing effects seen in neighbouring countries. The report indicates that 43% of Dutch jobs are complementary to AI technologies, compared to 39% in Belgium and France, and 35% in Germany. Görkem Köseoğlu, ING's Chief Analytics Officer, said: "AI brings tremendous opportunities in making banking more personal, easier, and empowering for customers . . . For the competitiveness of Dutch companies and the Dutch education system, we are joining forces with other large Dutch companies to support universities, start-ups, and SMEs, and to raise awareness with the Dutch public about the opportunities and risks of AI." ​While the Netherlands ranks highly on the International Monetary Fund's AI Preparedness Index, ING warns that AI adoption may not immediately alleviate labour market tightness, because increased economic activity could lead to higher demand for labour.
WORKFORCE
UK workers see easing pay growth
Annual pay growth for low-wage positions in the UK slowed to 6.2% in February, the lowest since February 2022, according to jobs website Indeed.  Jack Kennedy, a senior economist at Indeed, said: “For some time now, low-paid sectors have been seeing significantly stronger pay growth than the rest of the market . . . That gap is starting to close.” Kennedy said that a wave of costs this month, including a change to national insurance contributions, a payroll tax, and a higher minimum wage, may force companies to hold down salaries across the board. Mohammad Jamei, director of economic policy at the Confederation of British Industry, said some employers are halving pay rises from around 5% to 2% to help offset the government's cost increases.
LEGAL
CASA faces legal action over wages
Dutch trade union AVV is taking legal action against home decoration store CASA to secure unpaid wages for March. AVV chairman Martin Pikaart said that over a hundred employees at 18 CASA stores in the Netherlands are facing uncertainty after CASA filed for bankruptcy in Belgium but not in the Netherlands. The board has said that it cannot access certain funds. “But that is not our problem,” Pikaart responded, adding that bankruptcy would mean employees then being paid by the benefits agency UWV.
Asset manager DWS fined $27m for greenwashing
Deutsche Bank-owned asset manager DWS has been fined €25m ($27m) after an investigation found it to be guilty of misleading statements about its environmental and social investing credentials. German prosecutors said statements in which DWS had publicly claimed that it was a "leader" in environmental, social and governance investing, and that ESG was an integral part of its DNA, "did not correspond to reality." DWS misled investors from around mid-2020 to the end of January 2023, the Frankfurt state prosecutor's office said.
French prosecutors want Volkswagen to face fresh Dieselgate trial
Prosecutors in Paris have called for German carmaker Volkswagen to face charges of aggravated fraud in France related to the Dieselgate emissions scandal. In 2015, Volkswagen admitted to selling 11m vehicles with devices designed to cheat emissions tests. Nearly a million French customers incurred costs for servicing and repairs after the scandal emerged. A 2021 expert report indicated that the company employed a "cost-benefit" strategy approved by management for the test-cheating software. Volkswagen contests the French allegations, saying that French consumers did not suffer harm warranting compensation, and that a previous German court case had already addressed these issues. "A double conviction on identical allegations is totally prohibited," the carmaker said. Paris prosecutors maintain that the French charges are "complementary" to the German case, focusing on consumer rights.
ECONOMY
Eurozone inflation eases, rate cut likely
Eurozone inflation has decreased to 2.2% in March from 2.3% in February, driven by lower energy costs and a slowdown in service inflation, according to Eurostat data. The European Central Bank (ECB) is expected to cut interest rates again, with a 70%-75% chance of a reduction in April. ECB Vice President Luis de Guindos said that the impact of a potential trade war with the US would be "short-lived" on prices, despite concerns about stagnation and inflation. The ECB anticipates inflation will remain around the current level for the year before reaching its 2% target by early 2026. Unemployment in the eurozone has also fallen to a record low of 6.1%.
CORPORATE
Carrefour acquires convenience retailer Magne
Carrefour has announced the acquisition of convenience store operator Magne, which owns 101 stores in the south-east of France. The retail giant also said it plans to open 400 of its own convenience stores this year, a significant upgrade on the 250 it initially proposed. Separately, Carrefour Romania has announced the appointment of Anne-Sophie Bauwens as chief financial officer, succeeding Régis Moratin, who will assume a new role within the Carrefour Group.
INTERNATIONAL
Amazon to resume worker theft screening
Bloomberg reports that Amazon is to resume screening employees leaving its warehouses, after dropping the theft-prevention measure during the pandemic. In addition to bringing back metal detection devices, the company is asking workers to register their personal phones so security personnel know they aren’t stolen. Employees will share the last six digits of the serial number on their phones and receive a sticker to place on the device, letting security personnel know it belongs to the worker and accelerating the screening process. “We’re always working to make our facilities more safe and secure for our employees and for companies of all sizes that put their trust in us to store their inventory,” an Amazon spokesperson explained. “As one part of that, we’ve made the decision to restore some practices that we had suspended to support social distancing during the pandemic.”
Talent shortage crisis looms in Taiwan
Taiwan's talent shortage continues to escalate, with the National Development Council forecasting a 480,000 workforce gap by 2030. However, businesses are already experiencing the pressure. The latest survey from Robert Walters reveals that 52% of companies in Taiwan plan to expand hiring in 2025 while 71% of employers report difficulties in filling critical positions, with nearly half (49%) struggling to recruit mid-to-senior level professionals. John Winter, Country Manager of Robert Walters Taiwan, said: "The competition for top talent is intensifying. The most forward-thinking companies are prioritising adaptability, digital transformation, and a people-centric approach to stay ahead. As external competition increasingly drives workplace change, the key to success lies in agility, innovation, and cultivating a culture where top talent can thrive. Those who embrace this evolution will set themselves apart in the shifting landscape."
 


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