Business

US President Joe Biden is visiting oil-abundant Angola for a three-day trip, aiming to enhance investment activities in the country and countering China’s rising influence in the region. ADVERTISEMENT US President Joe Biden is set to visit Angola on Monday, fulfilling a promise made in 2022 and marking the first visit by a US president to the Sub-Saharan African country. …

Carlos Tavares has resigned as Stellantis CEO after nearly four years, amid plunging electric vehicle sales and rising competition from Chinese car makers. His departure highlights the mounting challenges for legacy carmakers in the EV transition. ADVERTISEMENT Carlos Tavares, the CEO of Stellantis and a key architect of the PSA-FCA merger, stepped down on 1 December 2024, ending a nearly …

Market participants will continue to watch the development of the French government crisis and key economic data from major economies this week. ADVERTISEMENT The financial markets saw some reversal trends in currencies last week, with the US dollar weakening following a retreat in the US government bond yields. The trend may continue this week as investors reassess Trump’s tariffs and central banks’ rate …

The world’s biggest brands have missed out on $200bn (€192bn) of revenue in the past year. What could they have done better? ADVERTISEMENT It’s been 25 years since the first Best Global Brands report was published. The world has changed a lot in that time with the launch of the iPad, GoogleMaps and social media.  Where some brands have grown …

EU house prices increased by 48% between 2010 and 2023, while housing costs, including paying for utilities skyrocketed in some member states, according to the latest report about housing in Europe by Eurostat. ADVERTISEMENT People in Ireland battled the highest housing costs, including water, electricity and gas, in 2023, which was double the EU average, according to Eurostat.  The second …

Half of the 10 most affordable tax-free countries for expats are located in the Gulf region. Even with an average salary, you can still have a leftover income after covering rent, living expenses, and bills in some countries. ADVERTISEMENT Tax-free countries are often depicted as “havens,” offering a life without income tax. But how much do expats actually need to …

The Swiss economy is expanding slowly, buoyed by trade but hit by weak manufacturing figures. ADVERTISEMENT In the period from July to September, Switzerland’s GDP grew 0.4% quarter-to-quarter, down from the 0.6% total recorded in the period from April to June. Adjusted for sporting events, this total came in at 0.2% in the third quarter, down from 0.4% in the …

The number of unemployed people rose far less than expected this month, reflecting a resilience in the German labour market, despite a surge in job cuts recently by major companies such as Volkswagen and Schaeffler. ADVERTISEMENT Germany released its unemployment report for November on Friday. The number of unemployed people in November 2024 touched 2.86 million, according to the Federal …

Annual inflation in the eurozone edged higher in November, matching expectations, while Germany reported its worst retail sales drop in two years, signalling broader economic challenges for the region. ADVERTISEMENT Eurozone inflation rose to 2.3% year-on-year in November, up from 2% in October, according to preliminary data released by Eurostat on Friday. The figure aligns with market expectations and reflects …

Volkswagen workers are set to strike in Germany in early December and union IG Metall said in a circulated pamphlet that it is “necessary”. ADVERTISEMENT The employee strikes across German production plants come after negotiations with management over proposed drastic cost-cutting measures collapsed. “Accordingly, strikes are possible and also necessary from the beginning of December,” the union said. “Volkswagen will …