Business

Mexico’s President Claudia Sheinbaum said her government would announce retaliatory tariffs against the US on Sunday, moving slower than China and Canada in response to Trump’s new trade policies. ADVERTISEMENT Mexico’s president said on Tuesday that the country will respond to the 25% tariffs imposed by the United States with retaliatory tariffs on US goods, with details to come. Mexico …

Robust earnings place the brand in a stronger position to acquire Versace from Capri Holdings. ADVERTISEMENT The Prada Group on Tuesday posted double-digit growth for the fourth consecutive year, bucking the luxury sector slide amid talk of a possible Versace acquisition. The group, which owns the Prada and Miu Miu fashion brands along with Church’s footwear, reported a 17% boost …

The euro surged for the second consecutive trading day amid the EU’s plan to boost defence spending by hundreds of billion euros. ADVERTISEMENT The euro surged for the second consecutive trading day after Germany’s Chancellor-in-waiting Friedrich Merz said the government would unlock billions of euros for defence and infrastructure spending. The announcement aligned with European Commission President Ursula von der …

European defence stocks drove much of the positive market momentum on Monday, boosted by expectations of higher defence spending by several countries like Germany. ADVERTISEMENT European markets started the week on an optimistic note on Monday, with Britain’s FTSE 100 index up around 0.9%, and the STOXX 600 index 1.3% higher. Germany’s DAX rose around 3% on Monday, with France’s …

The European Union’s third-largest economy expanded by 0.7% in 2024, fuelled by domestic consumption and increased exports. The budget deficit sharply dropped compared to the previous year. ADVERTISEMENT Italy’s national output (GDP) grew by 0.7% in 2024, the same as the previous year, according to the country’s statistics office Istat.  The final figure surpassed the Bank of Italy’s forecast of 0.5% …

Eurozone inflation eased to 2.4% in February but remained above forecasts, complicating the ECB’s rate-cut plans. Monthly price pressures, meanwhile, hit a 10-month high. ADVERTISEMENT After four consecutive months of rising inflation, eurozone consumer prices edged lower in February but fell less than economists had predicted, underscoring persistent price pressures that could complicate the ECB’s rate-cut plans for 2025.  The …

Mobile World Congress kicks off in Barcelona this week with tech leaders coming together from 3 to 6 March to explore the trends and technologies shaping the mobile industry in 2025. ADVERTISEMENT The GSMA launched its annual Mobile Economy Report 2025 on Monday, which highlighted critical trends shaping the future of the mobile economy, which will set the tone for …

Booking.com CEO Glenn Fogel talks about the growing desire to travel, even as over tourism and sustainability concerns create challenges for travel companies. ADVERTISEMENT Did you know that tourism accounts for 10% of the EU’s gross domestic product (GDP), according to the European Parliament? Statista also estimates that revenue for the EU-27 travel and tourism market will hit $220.1 billion …

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 …