Business

Research from UK economic think tank the Adam Smith Institute suggests three countries in Europe will see the greatest increase in the proportion of millionaires by 2028. ADVERTISEMENT Turkey, Russia, and Sweden are the European countries that will see the greatest increase in the proportion of millionaires by 2028, according to research from UK economic think tank the Adam Smith …

ASML shares plunged 15.7% on Tuesday, the worst drop since the chipmaker went public in 2002, after an early earnings release revealed a lowered sales outlook for 2025. ADVERTISEMENT Dutch semiconductor equipment giant ASML saw its shares tumble on Tuesday after its third-quarter earnings were accidentally released ahead of schedule. Shares of ASML Holding, trading in Amsterdam, closed 15.7% lower, …

International financial market actors hailed a potential agreement that could see transactions finalised one day after trades are made — but moving to T+1 could require new Brussels legislation. ADVERTISEMENT EU regulators confirmed in a Tuesday statement that they want to speed up the settlement of securities transactions – following a shift already underway in the US and UK.   The plan …

The world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Company, is set to expand its operations in Europe, according to a Taiwanese official. ADVERTISEMENT A leading maker of AI chips, Taiwan Semiconductor Manufacturing Co. (TSMC) is reportedly planning more plants in Europe.  Taiwan’s National Science and Technology Council Minister Wu Cheng-wen told Bloomberg TV: “They have started construction of the first …

The ECB is expected to announce a rate cut on Thursday, responding to falling inflation and worsening economic conditions. Eurozone inflation fell to 1.8% in September, while weak PMI data indicates economic stagnation. ADVERTISEMENT The European Central Bank (ECB) is widely expected to announce a rate cut during its upcoming meeting on 17 October, as deteriorating economic conditions and declining …

China reported weaker-than-expected consumer price growth for September, alongside an underwhelming economic briefing, which may exert pressure on European luxury stocks. ADVERTISEMENT China reported weaker-than-expected inflation over the weekend, highlighting continued sluggish consumer demand despite aggressive stimulus measures. The disappointing data was accompanied by an underwhelming economic briefing by the Chinese Finance Minister on Sunday, likely leading to further declines …

Global stock markets rose on optimism surrounding potential ceasefire talks in the Middle East. However, the rally lost steam after the US reported a hotter-than-expected CPI by the end of the week. Notably, the semiconductor sector posted gains due to strong demand forecasts for AI chips. ADVERTISEMENT Global markets posted gains this week as fears of a wider conflict in …

The country’s centre-right government is set to slash taxes for people aged 35 and under in a measure aimed at dissuading them from emigrating and also encouraging foreigners to settle in Portugal. ADVERTISEMENT In a move designed to encourage young Portuguese from leaving the country, the centre-right government suggested tax breaks for young people in the new budget for 2025, …

The proposed offer from Clayton, Dubilier & Rice (CD&R) would mean the sale of a 50% stake in Opella, which makes over-the-counter medicine such as Doliprane and Allegra. ADVERTISEMENT The deal for the pharmaceutical giant is one of the biggest of its kind. It is likely to give CD&R a controlling stake in the division and is estimated to be …

The draft budget plan will be under intense scrutiny by the EU Commission after Brussels formally warned France of its excessive budget deficit back in June. ADVERTISEMENT The French government has unveiled its draft budget plan for 2025 on Thursday in Paris during a press conference. It’s a touchy subject considering France’s staggering deficit is projected to reach more than 6% …