Business

Mistral AI, one of Europe’s most valuable AI companies, is reportedly making plans to build a base in the US, having already started working on a Palo Alto office. ADVERTISEMENT European artificial intelligence (AI) start-up, Mistral AI, is reportedly planning to expand into the US, according to The Financial Times. Currently based in Paris, the start-up is working on an …

The bid from the larger Italian lender “does not reflect in any way the profitability and further potential to create value for Banco BPM shareholders”, it said in a statement. ADVERTISEMENT Italy’s Banco BPM has rejected a takeover bid from UniCredit, saying the current offer undervalues the lender. In a statement, Banco BPM said the bid from UniCredit, the larger …

Zeren’s energy interests in the UK include Laval Energy, a London-based energy consultancy firm. The company says it plans to extend its interests further in both Turkey and Europe. ADVERTISEMENT Founded in 1973, the company has interests in operations across energy, manufacturing, shipping, professional services, trading, media, hospitality, and banking. It has now announced its acquisition of Türkiye Petrolleri, one …

European automakers took a share price hit on Tuesday after Donald Trump threatened sweeping tariffs on China, Mexico and Canada. ADVERTISEMENT Late Tuesday morning, shares in Germany’s Volkswagen Group fell 2.26% to €80,40, while Stellantis’ stock dropped 4.54% to €12,24, as investors weighed how Trump’s proposed tariffs on China, Mexico and Canada could hit business in Europe. The President-elect said …

The auto industry’s shift to EVs is expected to go on despite Donald Trump’s threat to kill tax credits. ADVERTISEMENT If President-elect Donald Trump makes good on his threat to kill federal tax credits for electric vehicle purchases, it’s likely that fewer buyers will choose EVs. Yet tax credits or not, auto companies show no intention of retreating from a …

Bitcoin’s price retreated sharply as the post-Trump rally stalled. Analysts believe profit-taking was the primary cause of the decline but $100,000 (€95,400) remains within reach. ADVERTISEMENT Bitcoin’s price has fallen sharply over the past 24 hours, down 3.6% to just above $94,000 (€89,000) at 5.30am CET. The retreat appears to be driven by profit-taking as the post-Trump rally stalled, lacking …

Tenure insecurity for land and housing is on the rise globally, including in Europe, warns a new report. Increasing rent and mortgage costs are among the key drivers of this growing perception of insecurity. ADVERTISEMENT The latest global assessment of land and housing tenure security reveals concerning trends. According to the 2024 Prindex Report, approximately 1.1 billion adults worldwide – …

The division includes the company’s artificial intelligence activities and its supercomputers, which can be used for nuclear deterrence. ADVERTISEMENT The French government has made a non-binding bid for Atos’ advanced computing business, valuing the unit at €500m. The division includes the company’s artificial intelligence activities and its supercomputers, which can be used for nuclear deterrence. The branch employs 2,500 employees …

The Swedish battery maker filed for bankruptcy last week, dashing ambitions for the European electric vehicles sector – and leaving significant EU loans outstanding ADVERTISEMENT The collapse of Swedish battery maker Northvolt AB has left a hole in the EU’s ambitions for electric vehicle success – but also a potential three-hundred-million-euro hole in its budget.   The company filed for …

German business confidence fell sharply in November, with the Ifo Index hitting its second-worst level since January. Rising costs, energy prices, and structural issues are eroding industrial competitiveness, while private sector activity hit a nine-month low. ADVERTISEMENT German business confidence fell further in November, deepening concerns over the nation’s industrial competitiveness amid ongoing economic challenges. The Ifo Business Climate Index, …