Business

The fortune of the eurozone’s largest economy is gloomy, especially with President-elect Donald Trump returning to the White House. ADVERTISEMENT Germany’s economy will contract this year and will hardly grow in 2025, according to new forecasts from Germany’s central bank – the Bundesbank. National output is expected to shrink by 0.2% this year, down from the Budensbank’s prediction of 0.3% …

China signals it’s prepared to double down on support for the economy as Trump tariffs loom. ADVERTISEMENT Chinese leaders met this week to plot economic policy for the coming year, sketching out plans to raise government spending and relax Beijing’s monetary policy to encourage more investment and consumer spending. Leaders of the ruling Communist Party wrapped up their two-day Central …

SpaceX is launching a new mission: making its Starbase site a new Texas city. ADVERTISEMENT Billionaire Elon Musk ‘s company on Thursday sent a letter to local officials requesting an election to turn what it calls Starbase – the South Texas site where SpaceX builds and launches its massive Starship rockets – into an incorporated city. Residents of the area …

The figures come as a setback for the new Labour government and its pro-growth agenda. ADVERTISEMENT The UK economy shrank by 0.1% in October, following a contraction of the same scale in September, said the Office for National Statistics on Friday. The figures mark the first back-to-back fall since March and April 2020, when the UK entered its first COVID-19 …

Tesla’s stock regains popularity as investors expect its Robotaxi and FSD technology to drive another phase of growth acceleration. The stunning performance drove Tesla’s Price-to-Earnings(P/E) ratio to 103, the highest among the big seven stocks. ADVERTISEMENT Tesla is the biggest beneficiary of Trump’s victory in the US election among the Magnificent Seven stocks, thanks to Elon Musk’s dedication to supporting …

Global markets saw a slide in weekly performance due to rising government bond yields, following the US inflation data release and the ECB’s hawkish rate cut. ADVERTISEMENT The rally on the European stock markets stalled, with a flat weekly performance, due to rising global government bond yields. The US CPI data for November showed that inflation rose for the second …

The Dutch government is rolling out a law to cap excessively high rental costs. Economists are divided on the subject. ADVERTISEMENT Speak to housing experts in the Netherlands and many will paint you a gloomy picture. As in other EU countries, rental costs are skyrocketing, supply is constrained, and homeownership remains unattainable for many. According to the most recent data …

Nissan last month said it was slashing 9,000 jobs, or about 6% of its global work force, and reducing global production capacity by 20% after reporting a quarterly loss of 9.3 billion yen (€58m). ADVERTISEMENT Embattled Japanese car maker Nissan has named Jeremie Papin, who was overseeing its US operations, as its chief financial officer in a major management reshuffle …

BYD, one of the biggest Chinese electric vehicle (EV) producers, has seen higher sales figures through more car trade-ins in China, edging it closer to its 2024 sales target. ADVERTISEMENT Chinese electric vehicle (EV) manufacturer BYD is on track to sell more cars than established rivals Honda and Ford in 2024, as the company appears to be about to beat …

The ECB has cut rates by 0.25% to 3%, citing progress toward its 2% inflation target and warning of downside growth risks. Lagarde noted signs of slowing momentum and weak investment. A larger cut was debated, but consensus formed around 25 basis points. Policy remains data-driven. ADVERTISEMENT The European Central Bank (ECB) cut its key interest rates by 25 basis …