Business

The European markets briefly hit a three-month low due to heightened tensions in the Ukraine-Russia war. Investors shifted towards safe-haven assets, while oil prices surged on fears of potential supply disruptions. ADVERTISEMENT European stock markets hit a three-month low on Tuesday, driven by a broad-based selloff following Ukraine’s unprecedented strike on a Russian military base using US-made long-range missiles. Russia’s …

European mega-caps trail US ‘Magnificent 7’ amid lack of AI gains, while also facing China’s slowdown and rising geopolitical risks amid tariff uncertainties. ADVERTISEMENT European mega-cap stocks continue to struggle in keeping pace with the extraordinary performance of the United States’ much-lauded “Magnificent Seven” tech titans. Year-to-date, the Magnificent Seven have surged by 55% on average, while European counterparts like …

President-elect Donald Trump flew in for the launch in the latest sign of his deepening bond with Elon Musk, SpaceX’s founder and CEO. ADVERTISEMENT SpaceX has launched its sixth test flight of its Starship rocket from the Starbase launch site in Boca Chica, South Texas. Unlike last month’s success, however, the booster was directed to a splashdown in the Gulf …

President Luiz Inácio Lula da Silva’s comments came the day after representatives of the G20 nations endorsed a joint statement that called for a pact to combat hunger, more aid for Gaza, an end to the war in Ukraine and other goals. ADVERTISEMENT Brazil’s president opened the second day of the G20 Summit by calling for more action to slow …

President Joe Biden’s administration had previously said González had earned the most votes in the disputed July 28 election, but had fallen short of acknowledging him as president-elect. ADVERTISEMENT The US government has recognised Venezuelan opposition candidate Edmundo González as the ‘president-elect’ of the South American country, months after President Nicolas Maduro claimed to have won the disputed July election. …

The Moldovan government is boosting its efforts to improve EU support among its divided public — partly by emphasising its strategic importance during the Ukraine war. ADVERTISEMENT Moldova is a deeply polarised country, its electorate pulled between pro-EU and pro-Russian positions. While a referendum on the country’s EU accession established that a majority of the Moldovan people wants to join …

The flag carrier, owned by British-Spanish multinational airline holding IAG, later said the problem had been fixed much more speedily than in the past because of millions more being spent on extra investment in IT. ADVERTISEMENT A technical failure left British Airways flights on Monday evening facing delays and disruption across Europe. The flag carrier, owned by British-Spanish multinational airline …

Eurostat data released on Tuesday showed eurozone inflation rose to the European Central Bank’s 2% target in October. ADVERTISEMENT The euro area annual inflation rate was 2% in October 2024, up from 1.7% in September. A year earlier, the rate was 2.9%, according to data published by Eurostat, the statistical office of the European Union. Meanwhile, European Union annual inflation …

The unit has suffered from rocky economic conditions, fierce competition from Asian manufacturers, and a pressure to decarbonise. ADVERTISEMENT Thyssenkrupp has downgraded the value of its steel business by a further €1bn, blaming weak earnings expectations and the costly process of going green. The German industrial firm announced a yearly net loss of €1.4bn, mainly attributable to the write-down, which …

European member states are facing benefits and drawbacks as the sealing of the strategically important deal is drawing closer. ADVERTISEMENT After 25 years of talks, the EU-Mercosur free trade agreement (FTA) still lacks unanimous support from member states, as fears of the agricultural sector’s future clash with the strategic needs of the bloc.  A political agreement was reached on 28 …