Russia cuts gas supply via Ukraine as transit deal expires
Gazprom, Russia’s state-controlled gas giant, has announced a significant reduction in gas flows to Europe via Ukraine.
Economy
Latest reporting and analysis on economy.
Apple pulls products from EU market as ban on non-USB C connectors takes effect
Apple has pulled all of its iPhone 14, 14 Plus, and iPhone SE products from the European Union market as the bloc's ban on non-USB-C connectors came into effect…
NATO to ‘ramp-up Baltic Sea operations’ after suspected undersea cables sabotage
NATO has said it will boost its presence in the Baltic Sea after the suspected sabotage of an undersea power cable and four internet lines.
Finland detains Russia-linked oil tanker over suspected deep-sea cable sabotage
Finland has detained an oil tanker with links to Russia over concerns it intentionally damaged several deep-sea cables.
Mass exodus of companies shows Germany is ‘bankrupt’
The mass exodus of companies from Germany has shown the country was now effectively "bankrupt", the head of an industry organisation has said.
Zelensky says Europe’s security ‘at risk over Slovakia’s dependence on Russian gas’
Ukrainian President Volodymyr Zelensky has criticised what he said was Slovak Prime Minister Robert Fico's lack of desire to end his country's dependency on Russian…
Qatar threatens to ‘cut off gas supplies to the EU’
Qatar’s energy minister Saad al-Kaabi has threatened to cut supplies of liquefied natural gas (LNG) to the European Union over its recently implemented Corporate…
Trump urges EU to boost US energy imports or face tariffs
US President-elect Donald Trump said on December 20 that the European Union should step up US oil and gas imports or face tariffs on the bloc's exports that include…
EU-Switzerland ‘reset’ deal denounced as ‘submission of Switzerland to EU’
A new agreement between Switzerland and the European Union resetting their relationship appears to face a rocky road to ratification.
China demands EU end sanctions over Ukraine War
China has demanded the European Union immediately lifts sanctions on several of its companies recently blacklisted for allegedly supporting the Russian war machine…
Ex-commissioner Breton: ‘If we carry on like this, France will sink’
Thierry Breton, former European Commissioner for the Internal Market, has issued a stark warning regarding France's economic outlook, urging the swift appointment…
German ‘Last Generation’ activists to rename and end blockades
The German Last Generation (LG) climate activists' group said it would change its name to adapt to what it called changes in the world climate.
German ‘push for peace in Ukraine via food security’ alongside military aid to Kyiv
According to a report allegedly written by a German diplomat at the country's embassy in Moscow, Berlin plans to work for peace between Ukraine and Russia under…
Danish pension fund facing huge loss from any Northvolt bankruptcy
Denmark’s biggest pension fund, ATP has been left facing the painful consequences of "green" darling Northvolt's feared bankruptcy - €308 million is on the line.
Porsche’s electric shift troubles leave 8,000 jobs on the line
German sports car manufacturer Porsche says it faces major cost reductions and could lay off up to 8,000 employees.
Sweden slams German ‘green’ energy policy reliance on ‘weather gods’
The recent spike in energy prices has caused diplomatic friction between Sweden and Germany, with Sweden's Deputy Prime Minister Ebba Busch pointing the finger at…
Cold Christmas for employees at Austrian motorcycle giant KTM as production comes to a halt
The crisis at Austrian motorbike manufacturer KTM is worsening, with the company unable to pay its 6,000 employees the previously promised November and December…
Moody’s hands France surprise downgrade over deteriorating finances
Credit ratings agency Moody's unexpectedly downgraded France's rating on Friday, adding pressure on the country's new prime minister to corral divided lawmakers…
German electricity prices soar to 2022 levels
Energy prices in Germany have returned to 2022 levels, driven by a combination of factors that have exacerbated the energy crisis stemming from the invasion of Ukraine…
Norway mulls cutting electricity links with Europe over price spikes
The spike in European electricity prices on December 12, caused primarily by German electricity imports, has sparked anger throughout northern Europe.
German chemicals giant Evonik says 7,000 jobs on the line
A major restructuring and cost-cutting operation at Evonik, a publicly-listed German specialty chemicals company, could reduce its workforce by one-fifth.
Moldova to declare state of emergency as Russian gas runs out
Moldova will be in a state of emergency for 60 days due to looming gas shortages.
Bribe people €1,000 in fuel to buy electric cars, German Green ministry suggests
Germany's Green-led ministry for economic affairs has argued in favour of bribing consumers with €1,000 in fuel credit to buy a new or used electric car.
European electricity prices skyrocket as German renewables fail to deliver power
Prices for electricity in central Europe have skyrocketed to record highs, as German renewable sources fell short of meeting demand.
Bosch, ‘absolutely unbearable,’ to cut up to 10,000 jobs as German economy slows
German industrial giant Bosch will lay off thousands more employees than it had already announced, it said on December 11.
Oil giants backslide on climate commitments, citing profitability drop
TotalEnergies, an energy company headquartered in Paris, has become the latest fossil fuel giant to retreat from its climate commitments, citing disappointing results…
Idiot Tax? Chinese companies use Germany’s ‘green’ rules in suspected €1bn scam
Chinese companies are believed to have scammed the German taxpayer out of around €1 billion using the country's own 'green' rules, a major economic research centre…
German Greens call for relaxing EU emissions fines on carmakers
Germany's Greens party economy minister Robert Habeck has called for the relaxing of fines on automotive emissions that were set to hit European Union carmakers…
‘Keep cash at home due to geopolitical threat’, Dutch banks warn
Dutch Banks will advise people to keep cash at home because of the tense international situation, a spokesperson of the Dutch Banking Association (NVB) has said.
Audi to recall more than 700,000 cars in new blow for owner VW
Audi, a Volkswagen subsidiary, has said it will have to recall hundreds of thousands of cars due to technical issues.