Business

Brussels recently scored a win when judges ruled Apple should reimburse €13bn in underpaid taxes – but a high-profile tax havens blacklist is undermined by weak sanctions, and warnings of cross-border schemes often go unheeded, auditors said. ADVERTISEMENT The EU’s fight against €100 billion in corporate tax avoidance is plagued by poor enforcement and weak sanctions, a report by the …

Germany’s headline inflation rose to 2.2% in November, below forecasts, with a sharp 0.2% monthly drop signalling disinflation. Core inflation hit 3.0%, the highest since May. Bund yields fell to 2.14%, DAX rose 0.5%, and the euro slightly weakened. ADVERTISEMENT Germany’s annual inflation rate edged higher in November but came in below economists’ expectations, while its monthly inflation posted the …

The UK supermarket says the “cost of living still counts”, but its shoppers are showing “a return to indulgence”. Premium olive oil is one product attracting attention. ADVERTISEMENT Customers at Waitrose are increasingly opting for luxury when it comes to staple food items, said the UK supermarket in its annual food and drink report, published on Thursday. “A pantry stocked …

The country’s business secretary announced the move after Stellantis, which owns Vauxhall, announced plans to close a UK van factory. ADVERTISEMENT Britain’s new Labour government will launch a consultation on auto manufacturers’ sales targets during the transition to electric vehicles, following the decision by Stellantis, the owner of Vauxhall, to close its van factory in southern England at the potential …

Euronews Business looks at the reasons behind the rising number of Black Friday scams and explores how shoppers can better protect themselves. ADVERTISEMENT Black Friday scams have become increasingly more common in the last few years, as the number of retailers and websites offering steep discounts have multiplied significantly.  With the rising cost of living, higher interest rates and widespread …

With the continuation of Russia’s invasion of Ukraine, business owners and academics discuss how the country’s economy may develop post-war. ADVERTISEMENT It can be difficult to imagine eastern Europe without the Russia-Ukraine war. After nearly three years of fighting, there are many unknowns regarding when and how the conflict may end. What is certain is that whatever Ukraine’s future looks …

Interest rates are nearing neutral territory, ECB’s Isabel Schnabel has said, backing gradual cuts amid persistent inflation. She highlighted risks from Donald Trump’s trade policies, noting potential economic shocks for Europe as tariffs loom over export-heavy economies. ADVERTISEMENT Isabel Schnabel, a member of the European Central Bank’s (ECB) Executive Board, has said there is limited scope for aggressive rate cuts …

The European judges dismissed HSBC’s procedural challenge against the cartel fine imposed by the European Commission in 2021. ADVERTISEMENT The EU General Court on Wednesday upheld a fine slapped on HSBC for online trader collusion with other banks to manipulate euro interest rate derivatives, dismissing a procedural challenge against the sanction. In 2016, the European Commission fined Crédit Agricole, HSBC …

A key survey shows Germans preparing to tighten their belts rather than boost private consumption, the sector which provides half of the GDP in Europe’s biggest economy. ADVERTISEMENT Europe’s top economy, Germany, has seen economic uncertainty, including job losses in the car industry, send consumer expectations to their lowest level in seven months. The Gfk Consumer Climate Indicator, a key …

The smaller Italian lender had previously flagged “serious concerns” about the “employment and social impacts” of a potential merger. ADVERTISEMENT Up to 6,000 jobs could be lost if a takeover bid from Italian rival UniCredit is successful, Banco BPM CEO Giuseppe Castagna has warned. “Cost synergies estimated by the bidder, equal to over a third of Banco BPM’s cost base …