EC backs off from slapping US with retaliatory tariffs
Europe's much-debated retaliatory tariffs against US President Donald Trump's tariffs on steel and aluminium imports have been postponed, the European Commission…
Economy
Latest reporting and analysis on economy.
Losses for German automotive supplier ZF top €1bn
German automotive supplier ZF has endured a brutal 2024 and reported yearly losses of more than €1 billion.
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…
ECB chief Lagarde urges EU to focus on trade integration amid tariffs
European Central Bank President Christine Lagarde has reaffirmed that robust European trade integration was the key shield against escalating US tariff pressures…
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.
Commission unveils defence plans to reduce reliance on US for security
The European Commission has presented its plans making clear that the European Union does not want to continue relying on the US for its security and must build…
Industrial carnage: German giant Siemens to shed more than 6,000 jobs
Siemens, one of Germany’s biggest industrial conglomerates, has announced a tough cost-cutting programme that would see 5,600 jobs disappear in its Digital Industries…
Italy PM Meloni says commission ‘not wise’ to impose 50% tariffs on US goods
Italy's Prime Minister Giorgia Meloni has said the European Commission was "not wise" to impose retaliatory tariffs of up to 50 per cent on US goods from April 1…
Spain’s Abascal: ‘Italy only EU country safe from US tariffs’
Spain’s Vox party leader Santiago Abascal has claimed Italy will be the only European Union country spared from US President Donald Trump’s trade tariffs simply…
Another snub? China’s President Xi declines invitation to Brussels
An invitation to attend a conference in Brussels to commemorate the 50th anniversary of ties between the European Union and China has been turned down by Chinese…
‘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 court puts ex-Siemens executives on trial for alleged Russian sanctions-busting
A German court has decided to launch a criminal trial against two former executives of German engineering giant Siemens who are accused of violating sanctions by…
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.
Arrested captain of ship in North Sea crash with US tanker a Russian, owner confirms
The captain of the Solong cargo ship who was arrested after a collision with a US-flagged oil tanker off the coast of England is a Russian national, the ship's…
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…
Party’s over? Trump threatens to slap 200% tax on European wines and champagne
In response to the European Union's counter tariffs against those imposed by US President Donald Trump, Washington has threatened new taxes on European alcohol.
Rheinmetall mulls converting German VW facility into military vehicle production site
German weapons manufacturer Rheinmetall has announced plans to convert a Volkswagen car factory in Osnabrück (Lower Saxony) into a production facility for armoured…
MEP says EU must be pragmatic while China has edge over EU billions
György Hölvényi, MEP for Hungary and member of the Patriots for Europe Group, standing rapporteur for education in the Committee on Development, reports exclusively…
EU spirits sector rattled by tariff war with US
SpiritsEUROPE, the representative body for the European spirits' industry, has said it was "extremely concerned" by retaliatory tariffs against the US.
Neutral Austria to buy €4 billion worth of long-range missiles, says defence minister
Austria will spend €4 billion on the acquisition of long-range air defence missiles, Klaudia Tanner, the country’s defence minister, has announced.
Game over for European ‘green’ darling Northvolt
Swedish electric battery battery maker Northvolt has filed for bankruptcy in Sweden after it was unable to find money to pay its taxes.
EU to impose counter tariffs on €26 billion of US goods
The European Union will impose counter-tariffs on €26 billion worth of US goods from next month, the European Commission said on March 12, ramping up…
ECB’s Rehn calls for joint European investment in air defence, drones
Europe must adopt common policies such as joint procurement of air defence equipment and drones to support Ukraine and strengthen its own defence despite large public…
Volkswagen profits tumble 30 per cent
Volkswagen's net profit plummeted by more than 30 per cent in 2024 compared to the previous year.
Another hyped ‘green’ sustainable energy company files for restructuring
Danish electrolyser manufacturer Green Hydrogen Systems has announced a plan to file a petition for court restructuring because it could not secure sufficient funding…
New doubts over digital-euro plan after ECB outage
European lawmakers have voiced fresh doubt about the European Central Bank’s digital-euro project after an outage in the ECB’s existing payment system caused…
Huge fire off English coast after oil tanker and cargo ship collide
An oil tanker and a cargo ship collided off the northeastern coast of England on Monday, March 10, causing a huge fire, with authorities mounting…
Germany’s Greens may refuse to back Merz in threat to massive debt plans
Germany's Greens may refuse to back plans by likely next chancellor Friedrich Merz for a massive increase in state borrowing with a party source, on March 10, warning…
Italian whippet proves top dog at UK’s Crufts
A whippet from Venice in Italy has been named best in show at the 2025 Crufts international dog show in the UK.
Corruption in Pakistan: A risk for South Asia’s stability and a threat for Europe
As Pakistan backs away from its anti-corruption transparency pledge, the consequences could ripple beyond its $7 billion IMF loan programme, threatening regional…