Ikea hikes security in Belgian stores after Brussels terror attack on Swedes
Swedish furniture giant Ikea has announced it is ramping up security in its Belgian stores after the terror attack in Brussels on October 16.
Finance
Latest reporting and analysis on finance.
Beware Country Garden and Evergrande: a Chinese property crunch could be about to set off a global financial crisis
Country Garden sounds so innocuous, but so did Freddie Mac and Fanny Mae, until those sweet sounding names became shorthand for global financial disaster.
Italy unveils tax-cutting 2024 budget amid debt worries
Italy's government on Monday approved a budget for next year with measures worth around 24 billion euros in tax cuts and increased spending, despite market concerns…
Latvia’s new coalition government may struggle with economic reforms, experts predict
Latvia's economy has needed significant reform for some time but the recently installed coalition leadership might struggle to deliver it, analysts forecast.
Europe’s green bond market has a new big buyer in the EIB
There is a new buyer in Europe’s ESG corporate bond market as the European Investment Bank starts taking a bumper share of new green bond sales.
Italy won’t reduce vast debt pile anytime soon, IMF warns
Italy will now still be stuck with a debt burden above 140 per cent of gross domestic product even in five years’ time, according to the International Monetary…
Italy battles for flexible EU budget rules as bond spreads widen
Italy is lobbying its European Union partners with increasing urgency to approve more flexible budget rules, according to government sources, as bond spreads widen…
EU debt now Euro 344 billion: auditors
In its latest report, the European Court of Auditors (ECA) said that errors in the spending of funds taken from the European Union budget "increased significantly…
Poland’s economy has been a remarkable and underreported success story over the last 30 years – now both main parties appear ready to squander it
The economy is the big absentee from the Polish election campaign.
NATO urges arms production boost as warehouses ‘half full’
The arms industry needs to ramp up weapons and ammunition production as "the bottom of the barrel is now visible" due to the war in Ukraine, NATO Military Committee…
EU Formally Opens Anti-Subsidies Probe Into EVs Made in China
The European Union has formally launched an anti-subsidies probe into electric vehicles manufactured in China, setting in motion a one-year investigation that could…
Portugal joining the euro was a mistake, MEP says
Portugal's decision to adopt the euro was the "wrong step", a left-wing MEP has said.
Brussels bites with €32m fine for UK over cut-price boat fuel
The UK has been hit with a €32 million (£28m) fine by the European Court of Justice (ECJ) over dragging its heels on implementing a ban in Northern Ireland of…
Inside the EU wallet: Which nations foot the bill and which benefit?
The Cologne Institute for Economic Research has published figures revealing how much cash Member States gave to or received from the European Union in 2022.
Eurozone core inflation hits 1-year low, backing ECB pause
Euro-area core inflation eased to its slowest pace in a year, supporting expectations that the European Central Bank will keep interest rates on hold to gauge the…
Booking’s €1.6 billion Etraveli deal blocked by EU
Booking Holdings Inc.’s €1.6 billion ($1.
Euro set for record run of losses as ECB seen done raising rates
The euro was headed for the longest streak of losses since its inception on bets the European Central Bank is done raising interest rates.
Dutch suffer biggest loss of purchasing power in 40 years
In 2022, the Dutch lost 1.2 per cent of their purchasing power - the biggest drop in almost 40 years.
ECB hikes interest rates in 10th salvo to quash inflation
The European Central Bank raised interest rates again, acting for the 10th consecutive time to choke inflation out of the euro zone’s increasingly feeble economy.
EU predicts German recession as bloc lowers growth estimates
The European Union has openly predicted that Germany's economy will end 2023 in recession, with Eurocrats shrinking growth estimates for the entire bloc on September…
Gen Z more enthusiastic to work than older generations, study finds
Gen Z, or those born between 1996 and 2010, are more enthusiastic about working than older generations, a survey conducted in Germany has found.
EC reshuffles as Vestager eyes top job at European Investment Bank
Margrethe Vestager has taken leave from her role in the European Commission to try for the presidency of the European Investment Bank (EIB).
MEPs unconvinced as ECB pushes ‘digital euro’
European Parliament members remain unconvinced about the benefits of a “digital euro” despite the best efforts of the European Central Bank.
Domino’s Pizza closing all 142 stores in Russia
US-based multinational Domino's Pizza is closing all its branches in Russia, joining the ranks of other Western businesses fully withdrawing from the country following…
The Netherlands joins Germany in recession
The Dutch economy has contracted for the second quarter in a row, meaning the country is officially in recession.
Russia’s central bank sharply hikes interest rates as ruble tanks
With the value of the Russian ruble in steep decline, its central bank is trying to stop the bleeding away of its value by increasing interest rates by 3.5 per cent.
Meloni’s Italian government coalition stung by bank tax move
Italy's governing coalition may be in trouble following a failed attempt to curb soaring tax bank profits.
Russian ruble tumbles, losing 30 per cent of its value
The Russian ruble has hit its lowest point since the beginning of the war in Ukraine as Western sanctions are seeming to squeeze the Russian economy.
Sánchez nominates Finance Minister for EIB amid tense premiership negotiations
Spain’s Prime Minister Pedro Sánchez nominated Nadia Calviño, his acting Deputy Prime Minister, for the European Investment Bank’s (EIB) top job.
S&P Drops ESG scores from debt ratings after investor confusion
S&P Global Inc. will no longer publish ESG scores along with its credit ratings, as the company adjusts its approach in response to investor feedback.