Business

Bank staff meant to send only $280. No funds left the bank, as the error was detected before the transaction was processed the following day. ADVERTISEMENT An error almost led to a Citigroup account being credited with $81tn (€77.8tn) – an amount that is about 5 times the total wealth of the UK, which was estimated at €14.7tn in 2023 …

German unemployment stayed at the highest level since October 2020, as concerns about deindustrialisation and weaker demand continued to weigh on the economy. ADVERTISEMENT Germany’s unemployment rate came in at 6.2% in February, which was in line with expectations, as well as being the same as in January, according to official data from the Bundesagentur für Arbeit. February’s figure also …

How foreign workers are helping to boost Spain’s economy and outpace the rest of Europe. ADVERTISEMENT Inside a cavernous production plant in Spain, people from 62 nationalities work side by side to keep a food company humming as millions of legs of ham travel on hooks along conveyor belts. Foreign workers have helped to make Spain’s economy the envy of …

Duolingo has continued to make significant investments in improving user engagement through new artificial intelligence features in 2024, while also having more courses lined up for 2025. ADVERTISEMENT Global language learning company Duolingo reported revenue of $748m (€719.7m) for the financial year 2024, which was a surge of 41% on an annual basis.  This was mainly because of the company …

Economists have been predicting a flurry of buyers trying to complete purchases before stamp duty increases in April. ADVERTISEMENT The average UK house price rose by 0.4% to £270,493 (€328,278) during February, up from 0.1% the month before, according to Britain’s biggest building society Nationwide.  The growth in February was the sixth month in a row that house prices in the …

The telecom giant has met several key financial guidance targets for 2024, while also continuing to solidify its position in the Spanish market through increased investments in 5G infrastructure. ADVERTISEMENT Telefónica’s revenue rose to €41.3bn in 2024, following stronger performance in the Spanish market, which was a rise of 1.6%, surpassing the company’s expectations of around 1%. Spain experienced its …

Performance had significantly improved in all core divisions, the British jet engine firm revealed in its annual financial report. ADVERTISEMENT Rolls-Royce stock soared on Thursday after the aircraft engine manufacturer shared its full-year financial results. The firm’s share price was up some 17% in daily trading, at around £7.40 (€8.97) a piece. On the back of strong profits, Rolls-Royce announced …

Prices in the EU’s fourth-largest economy increased for the fifth consecutive month in February, compared to the previous year. ADVERTISEMENT Prices in Spain increased by 3% in February compared with the same time last year, the highest rise since last June, according to the first estimate by the Spanish statistics agency NSI.  If confirmed, this indicates that the annual inflation …

The US stock market has risen in 2025 and isn’t far from its all-time high set last week. But it’s climbed less than stock indexes in Mexico City, Paris and Hong Kong. ADVERTISEMENT When it comes to stock markets around the world, this year has clearly not been “America First”. The difference in performance has been so stark than an …

The Commission found that Nokia and Infinera’s combined market share was moderate and that several competitors would continue to exert pressure, ensuring competition remains strong. ADVERTISEMENT The EU Commission has “unconditionally” approved the €2.19bn acquisition of US-based Infinera by the Finnish technology company Nokia. Both Nokia and Infinera supply optical transport equipment used to transmit data through optical fibre cables. …