Denmark first to raise pension age to 70, in a fast greying EU
Denmark became the first country in the EU to raise its retirement age to 70, after its parliament passed the measure on May 22.
Finance
Latest reporting and analysis on finance.
Collapse in number of new builds in Germany fuels fears of worsening housing shortage
New apartment construction in Germany has collapsed since 2024, new data show. Higher interest rates and higher construction costs were behind the collapse.
Poland’s gold reserves exceed even those of the European Central Bank
According to the head of Poland's central bank, Poland now holds 509.3 tonnes of gold, more than the gold reserves of the European Central Bank (ECB).
Median German household wealth drops by 15 per cent, says central bank
The median net worth of a German household has dropped from €90,500 in 2021 to €76,000 in 2023, after adjusting for inflation.
Ukraine mulls peg to euro and ditching US dollar as ties to EU strengthen
Ukraine has started to consider a shift away from the US dollar, possibly linking its currency more closely to the euro amid the splintering of global trade and…
EU auditors slam ‘weak and insufficient oversight’ of costly Covid recovery fund
In a highly critical report, the European Court of Auditors (ECS) has sharply condemned what it said was the European Union’s lack of oversight in spending €650…
Fed up with delays: Switzerland severs two train links with Germany
The Swiss State railway company SBB has announced it was severing two train connections with Germany, effective immediately.
Parts of Brussels housing market impacted by drugs issues
The Belgian capital Brussels has remained the country’s most expensive region for real estate but concerns over illegal drug activity have driven sharp local price…
12 EU states request deficit rules leniency as euro bloc’s economy growth tops expectations
Twelve European Union countries have requested activation of the "national escape clause" from EU deficit rules in order to boost their defence spending, the European…
Volvo plans cost cuts of €1.6 billion and staff reductions
Swedish automaker Volvo Cars has announced a cost-cutting initiative worth 18 billion Swedish krona (€1.
Germany seeks exemption from EU fiscal rule to aid defence spending
Germany’s outgoing finance minister Jörg Kukies has asked the European Commission to allow Germany temporarily to ignore strict European Union rules that limit…
Volvo profits down more than expected
Vehicle manufacturer Volvo has had a bad first quarter, reporting sales that were lower than expected.
Hoteliers set to launch legal claim over ‘billions in losses due to booking.com’
Travel website booking.
Investments in bankrupt green poster child Northvolt could have broken Swedish law
Costly investments in the now-bankrupt Swedish “green” battery manufacturer Northvolt have drawn mounting criticism, with accusations that some pension funds…
‘I was there in 1962’: a reader remembers the start of the German economic miracle
In the early 1960s I had a stroke of luck. Through a Fulbright scholarship in mathematics, I was given the opportunity to study at the University of Freiburg.
Gold shines as uncertainty reigns
As global financial markets remained in disarray following US President Donald Trump's tariffs announcements, gold has soared to new heights.
German defence industry applauds new coalition agreement, but most others are unimpressed
Representatives of Germany’s private sector are doubtful about whether the incoming government would be able to revive the country’s languishing economy.
The tariffs gamble: Inflation, growth and the ECB’s next move
As the clock ticks down to US President Donald Trump's tariffs announcement, markets, policymakers and consumers stand at a crossroads, caught between rising prices…
Austria blasts through Maastricht deficit ceiling as budget shortfall surpasses all expectations
Austria’s public finances have deteriorated faster than even pessimists expected.
Austria caught in longest recession since Second World War
Austria’s economy is deteriorating fast as it enters its third year of recession – the longest period of economic contraction since the end of the Second World…
Three quarters of Poles do not want the euro, says new poll
A new survey showed that Poles were now more than ever opposed to replacing the national currency, the zloty, with the euro.
Poland wants to redirect EU post-pandemic funds into rearmament
Poland's centre-left government led by Prime Minister Donald Tusk has announced it wants to channel €7.
Italy targets Meta and LinkedIn with tax demands amid alleged fraud probe
Italy has handed tax demands to Meta and LinkedIn in the last formal step in an unprecedented VAT claim against the US tech giants that could have repercussions…
German pharma giant Bayer must pay US cancer patient almost €2bn
Bayer, Germany’s biggest pharmaceuticals and biotech company, has been ordered to pay a record almost $2.1 billion (€1.
Eurozone sees business activity hit seven-month high
Eurozone business activity grew at its fastest pace in seven months in March, supported by an easing in the long-running manufacturing downturn despite slower growth…
EU dusts off capital markets proposal but small countries fear regulatory power grab
The European Commission has published a new plan to revive its capital markets union proposal which stalled back in 2015 — but smaller members have expressed fear…
EU labour costs rise amid persistent competitiveness hurdles
Labour costs in the European Union have continued a steady climb, adding pressure to an economy already grappling with sluggish growth and global uncertainty.
‘EC tobacco policies will only boost illicit trade,’ expert warns
Government policies on tobacco and nicotine products promoted by the European Commission are inadvertently fuelling the illicit trade, an expert has warned
German car maker BMW reports sharp drop in profits for second year in a row
German car maker BMW has posted disappointing results for 2024 on weakening sales in China and at home.
EU defence proposal is just a debt-union, not a serious course correction
It is not entirely without irony that the “The Most Successful Peace Project in the History of Mankind” is currently planning the continent’s most ambitious…