Business

This move comes as a fresh blow to the UK high street, which has been struggling to recover from the pandemic, witnessing a number of big name closures such as Debenhams. ADVERTISEMENT British books and stationery giant WH Smith will sell 480 retail outlets to Modella Capital, the owner of Hobbycraft, in a deal worth approximately £76m (€91.2m). The Swindon-centred …

Sentiment across the European economy weakened again in March, with confidence in services and retail slumping. The euro area’s index fell to 95.2, deepening doubts over recovery momentum. ADVERTISEMENT After a fleeting spell of stability, sentiment across the European economy weakened again in March. Fading optimism in services and retail sectors pushed confidence deeper below historical levels, casting doubt over …

Ferrari announced that it would increase prices for certain models up to 10% in response to Trump’s 25% auto tariffs on European car imports. The company added that its 2025 profit margins face a potential 50 basis-point reduction risk. ADVERTISEMENT Italy’s luxury sports car maker, Ferrari, announced in a statement on Thursday that it would raise prices by up to …

More than 2,000 jobs are at risk as Britain’s second-biggest steelmaker failed to get an agreement with the UK government to support further operations. ADVERTISEMENT British Steel said Thursday that it is planning to close its two blast furnaces and steelmaking operations in the northern England town of Scunthorpe, after its Chinese owner Jingye failed to agree a rescue package …

Trump’s 25% tariff on auto imports jolts equity markets and draws backlash, with European industry groups warning of supply chain shocks, rising prices, and job risks while analysts flag earnings pressure. ADVERTISEMENT US President Donald Trump slapped a 25% tariff on all auto imports starting next week, with auto parts to follow by 3 May 2025, sending shockwaves through global …

US President Donald Trump confirmed 25% tariffs on vehicles not manufactured in the US, set to take effect on 2 April. Auto shares fell across Asia following the news, with the impact expected to ripple through Europe. ADVERTISEMENT US President Donald Trump signed a proclamation to impose 25% tariffs on auto imports. He also said that his planned reciprocal tariffs …

French consumers are more pessimistic about their future finances but are a little more open to making bigger purchases. ADVERTISEMENT French consumer confidence decreased to 92 in March, down from 93 in the previous month, according to INSEE. This number was below analyst expectations of 94, while also remaining below the index’s long-term average of 100.  Consumers were increasingly pessimistic …

Britain’s Chancellor of the Exchequer Rachel Reeves has laid out the latest on UK public finances. Her statement arrives at a moment when the nation needs to find billions to boost defence spending against the backdrop of an ailing economy. Here are the key takeaways. ADVERTISEMENT The UK government has just revealed new plans to cut public spending as it …

The partnership demonstrates Alibaba’s increased focus on AI, while BMW is also seeking to develop competitive products for the Chinese market. ADVERTISEMENT BMW and Alibaba Group have announced that they have partnered to develop artificial intelligence for cars in China. This decision comes as Alibaba Group attempts to focus more on monetising its products and growing its customer base.  Alizila, …

Spain’s economy grew 3.2% in 2024, one of the fastest in the eurozone, driven by strong domestic demand, robust tourism, and EU recovery funds, outperforming Germany, France and Italy. Economists say Spain remains a ‘bright spot’ in Europe, expecting this outperformance to continue through 2025. ADVERTISEMENT Powered by strong household spending, resilient investment and a tourism sector showing no signs …