Business

The Spanish lender aims to offer shareholders €3.3 billion, including more than €1bn in buybacks this year. ADVERTISEMENT Spain’s Sabadell Bank announced on Friday that it had achieved a record full-year profit, allowing it to offer generous shareholder payouts. The bank shared that it had made €1.83bn in 2024, a year-on-year jump of 37% – while fourth-quarter profit jumped 19% …

The BoE’s predictions follow its decision on Thursday to cut its main interest rate for the third time in six months. The bank now predicts that the British economy will only grow by 0.75% this year, down from its previous forecast of 1.5% just three months ago. ADVERTISEMENT In a statement, the bank’s nine-member Monetary Policy Committee (MPC) lowered its …

Amazon topped expectations in its fourth-quarter earnings. However, its disappointing guidance deepened concerns about a slowdown in the artificial intelligence (AI) industry. ADVERTISEMENT Amazon reported fourth-quarter earnings that beat analysts’ estimates but provided weaker-than-expected guidance due to potential foreign exchange impact and rising AI spending. The e-commerce giant’s shares fell more than 4% in extended trading following its earnings report. …

Business and policy leaders gathered at the Destination Europe Summit – a collaborative event organised by the European Travel Commission, Booking.com and Euronews, hosted by Euronews anchor Meabh McMahon. ADVERTISEMENT Guests at the summit discussed the future of the tourism industry – balancing growth, regulation and sustainability investment. Miguel Sanz, president of the European Travel Commission, took to the stage …

Pernod Ricard, along with several other major European drinks brands, has been dealing with faltering sales due to increased global uncertainty and an unfavourable foreign exchange market. ADVERTISEMENT French drinks giant Pernod Ricard announced its first half results for the financial year 2025 on Thursday, decreasing its sales outlook for the fiscal year as geopolitical uncertainties continue to mount.  Organic …

The Bank of England cut its base rate to 4.5% amid easing inflation but flagged lingering risks. GDP growth remains weak, and potential US tariffs add uncertainty. The pound fell, while the FTSE 100 hit record highs. ADVERTISEMENT The Bank of England (BoE) lowered its key interest rate by 25 basis points to 4.5% on Thursday, marking the third cut …

Ford has been grappling with stubbornly high warranty expenses and sluggish cost-cutting efforts. In the July-September quarter, the company took $1billion (€960,000) in accounting charges to write down assets for a cancelled three-row electric SUV. ADVERTISEMENT Ford Motor Co. is forecasting weaker earnings growth for this year and further losses in its electric vehicles business as it works to control …

Arm’s cautious full-year outlook caused a sharp decline in its share price, raising concerns about a slowdown in artificial intelligence (AI) chip demand. ADVERTISEMENT Arm reported earnings for the December quarter that significantly exceeded market expectations. However, the company provided conservative guidance for the current quarter, prompting a decline of more than 6% in its share price during extended trading …

Spain’s Santander has reported a record profit of €12.57bn and revealed plans for more share buybacks. France’s Crédit Agricole, meanwhile, has recorded a rise in net income. ADVERTISEMENT Shares in Banco Santander rose on Wednesday after the Spanish lender announced a record profit in the fourth quarter of 2024, also bringing full-year profit to an unprecedented total. Thanks to robust …

Gold’s record-breaking rally has soared past $2,870 per ounce, fuelled by central bank purchases, inflation concerns, and deglobalisation fears. Trade tariffs imposed by the Trump administration are further amplifying demand for safe-haven assets. ADVERTISEMENT Gold’s relentless rise has stunned markets, shattering price records and climbing nearly 10% since the start of the year, a pace of growth not witnessed since …