Criticises German

• The European Payments Initiative has launched Wero, a new payment app replacing Payconiq to facilitate cross-border transactions across Luxembourg, Belgium, Germany, France, and the Netherlands. • The app saw more than 34,000 downloads at launch in Luxembourg. • The service streamlines digital payments for users and businesses operating across five major European markets by providing a unified regional alternative.

• Netflix and other streaming platforms have criticized a new German draft law approved by Chancellor Friedrich Merz's cabinet on Wednesday. • The proposed legislation would compel streaming services to reinvest a specific share of their locally generated revenue back into domestic film and television production. • This move aligns Germany with other European nations, such as France, Denmark, and Sweden, which already enforce similar reinvestment mandates to support local creative industries.

• Netflix and other streaming platforms have criticized a German proposal requiring them to reinvest a portion of their locally generated revenue into domestic film production. • The plan aims to bolster Germany's local creative industry, mirroring similar mandates already implemented in European nations such as France, Denmark, and Sweden. • This conflict highlights a growing tension between global streaming giants and European regulators seeking to protect and fund national cultural content.