Business

The Iranian rial fell to its lowest level in history on Wednesday, losing more than 10% of its value since Donald Trump won the US presidential election in November. The drop signals new challenges for Tehran as it remains locked in the wars raging in the Middle East. ADVERTISEMENT The rial traded at 777,000 rials to the dollar, traders in …

Previously, the ECB has indicated its support for UniCredit’s potential full takeover of Commerzbank, as the European Central Bank looks to enhance the competitiveness of the European banking system on a global scale. ADVERTISEMENT UniCredit has added another 7% to its stake in Commerzbank, leaving it with a 28% share as it closes in on a controversial takeover attempt of …

According to Karoli Hindriks by 2035 passports will be obsolete. Why? Are there any alternatives to them? Hindkiks joins My Wildest Prediction to share her views on mobility, the job market and digitalisation. ADVERTISEMENT My Wildest Prediction is a podcast series from Euronews Businesswhere we dare to imagine the future with business and tech visionaries. In this episode, Tom Goodwin talks …

Carmaker Stellantis will invest nearly €2 billion in Italian production next year and spend another €6 billion in the supply chain, the head of European operations told a government panel on Tuesday. ADVERTISEMENT Stellantis executives laid out prospects for Italian operations just weeks after the board forced former CEO Carlos Tavares to resign amid slumping sales. He is being replaced …

Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards. ADVERTISEMENT The Fed is set to announce a quarter-point cut to its benchmark rate, from about …

Japanese car makers Nissan and Honda have confirmed they are in discussion about closer collaboration but denied reports they are to merge. ADVERTISEMENT Nissan’s share price soared almost 24% in Tokyo after reports citing unnamed sources said it might merge with Honda to form the world’s third-largest car making group. That is the largest share-price jump for the company in …

The biggest increase since March and the second rise in two months is likely to cement market expectations that the Bank of England will keep its main interest rate unchanged after its policy meeting on Thursday. ADVERTISEMENT UK inflation has risen to its highest level since March, driven by an increase in fuel prices last month, official figures have revealed. …

French banking stocks fell amid Moody’s downgrade on seven banks’ ratings amid the ongoing political turmoil. Both French government bonds and its stock markets experienced selloffs due to souring investment sentiment. ADVERTISEMENT Moody’s cut the ratings of seven French banks just days after downgrading France’s credit score, as the country grapples with prolonged political instability. The move caused a broad-based …

The FCA has launched a consultation on the proposed launch of a new private stock market called Pisces. Here’s a look at how it would work. ADVERTISEMENT If successful, the new private stock market could generate a pipeline of companies for a full IPO on a public market in the future. However, there will be restrictions on who can buy …

The Italian carmaker believes the market is not ready for the brand’s fully electric luxury car. ADVERTISEMENT Lamborghini has announced that it will launch its first fully electric vehicle in 2029, one year later than previously planned. According to Reuters, CEO Stephan Winkelmann said that the luxury sports car market lacks readiness for full electrification. “We do not think 2029 …