Antwerp diamond trade ‘faces collapse’
The centuries-old diamond trade in Antwerp is facing a severe crisis, with local traders having expressed fears that the industry could soon vanish altogether.
Economy
Latest reporting and analysis on economy.
Lagarde: US dollar world-order here to stay as overregulation holds back EU
The US dollar world-order is not going anywhere anytime soon, European Central Bank (ECB) President Christine Lagarde has claimed.
US tobacco giant Philip Morris to close German plants as Europeans smoke less
US multinational tobacco giant Philip Morris has said it planned to close two German factories due to falling demand across Europe.
Severe weather causes catastrophe and deaths in parts of Spain
Extreme weather conditions in Spain have cost at least 72 lives, including four children.
UK budget: Finance minister hikes taxes to highest in 30 years, boosts defence spending
Britain's new finance minister Rachel Reeves has announced the biggest tax increases in three decades in her first budget and pledged to boost UK defence spending.
EC rejects Poland’s plea to exclude defence spending from budget-deficit figures
The European Commission has rejected Poland’s request for defence spending to be excluded from calculations in relation to the country’s budget deficit.
Real world shows EU green policies may cause chaos
Over the past five years, the European Commission under Ursula von der Leyen has passed more environmental regulations than any commission in history.
EU deindustrialisation: Audi to shut Brussels factory in February 2025
German vehicle manufacturer Audi has said it would shut its factory outside Brussels by the end of February next year, media outlets in Belgium have reported.
UK budget D-Day: Finance minister Reeves looks set to light blue touchpaper
Britain's new finance minister Rachel Reeves is set announce what may be the biggest tax hikes in three decades in a bid to fix the country's sagging public services,…
French minister for foreign trade to challenge China over ‘political’ cognac duties
France will challenge China over its import duties on brandy, which Paris calls political and unjustified, when junior trade minister Sophie Primas visits Shanghai…
German car industry chief warns one-in-four jobs at risk in next decade
Volkswagen's recent shock announcement to cut tens of thousands of jobs, in concert with wage restrictions, was not an isolated event but part of a much bigger crisis,…
Volkswagen crisis: Tens of thousands of German jobs at risk with factory closures
German multinational car giant Volkswagen has announced dramatic austerity measures as the company struggles with declining sales and revenue.
Costs jump more than three times for Belgian ‘green’ offshore energy hub
Costs for an energy island in the North Sea, connecting offshore wind farms, have turned out to be more than three times as high as expected.
Oaktree-owned Banca Progetto placed under court administration in Milan
Italian bank under court administration for allegedly lending money to a person arrested under mafia charges
Sweden’s EV battery Northvolt lays off 840 workers as financial pressures bite
Swedish battery manufacturer Northvolt, which specialises in lithium-ion technology for electric vehicles, has announced it will lay off 840 people as it continues…
Poland’s defence spending forecast to hit 4.7 per cent of GDP this year
Poland's defence spending is projected to reach 4.7 per cent of GDP by the end of 2024, despite the government's acknowledgement of a revenue shortfall this year.
Germany and UK sign landmark defence pact
A new defence pact between London and Berlin will allow for German warplanes to operate off the coast of Scotland.
Germany wants to use India’s cheap labour market to reduce reliance on China
Chancellor Olaf Scholz leads a high-level delegation to New Delhi this week, betting that greater access to the vast Indian market can reduce Germany's reliance…
European Parliament approves €35 billion aid for Ukraine from frozen Russian assets
The European Parliament has approved a new macro-finance loan for Ukraine to deal with the effects of the Russian invasion.
Council of Europe funds ‘eco-anxiety handbook’ targeting vulnerable youth
The Council of Europe has funded a handbook aimed at addressing so-called "climate anxiety" in young people.
Serbian president vows never to sanction Russia
Serbian President Aleksandar Vučić has spoken by phone with Russian President Vladimir Putin, promising never to put sanctions on Russia.
Environmentalists hate Western civilisation, so they hate the achievements of Jews
During an interview I once called Greta Thunberg the Meghan Markle of environmentalism, meaning that, like the Duchess of Sussex, the Swedish activist’s media…
Head of German employers’ association warns ‘300,000 industrial jobs at risk’
Stefan Wolf, the head of the German employers’ association Gesamtmetall, has said hundreds of thousands of jobs in the metals and electricals industry are at risk.
Delicious: Dutch are eating more meat despite government veggie push
The Dutch public has increased their meat consumption despite a government attempt to impose a top-down "protein shift" towards no-meat meals.
Airbus to cut up to 2,500 jobs in defence and space, sources say
Airbus plans to cut up to 2,500 posts in its Defence & Space division after spiralling losses on satellite projects, two people familiar with the matter said on…
Don’t block my sun: a new commission that does not overshadow von der Leyen
The new European Commission, pending approval after the November hearings, has been put together by Commission President Ursula von der Leyen with a clear objective:…
Researchers alarmed by China’s grip on EU wind sector
"Becoming a world leader in green technology is one of China’s key strategic objectives...
Germany’s SPD plotting ‘wealth tax’ amid financial problems
Germany's ruling Social Democratic Party (SPD) is plotting the introduction of a wealth tax on assets amidst the country's worsening economic situation, local news…
German government threw €50 million at failed hydrogen train fleet
A prestigious train project in Germany, aimed at introducing a fleet of hydrogen-powered locomotives to the railway system, has fallen flat despite over €50 million…
European Parliament ends free e-vehicle charging
MEPs will from December have to pay to charge their electric cars as part of a European parliament decision to "save energy".