Business

The ECB started cutting the main interest rates in June 2024, to boost the Eurozone’s lagging economy, through lower rates to encourage borrowing, spending and investment. ADVERTISEMENT The European Central Bank (ECB) has cut its deposit rate for the fourth time this year, by 25 basis points to 3%. This is the rate for banks to make overnight deposits and …

Harrods said it introduced the fee to keep menu prices competitive and maintain a high level of service. ADVERTISEMENT Luxury department store Harrods has introduced a mandatory £1 fee for diners in all its cafes and restaurants in London. This is on top of an existing 12.5% service charge, which is optional. An English breakfast tea, at a basic price …

The world’s largest supplier of car parts has been hit by weak demand, strong Chinese competition and slow transition to EVs. ADVERTISEMENT Bosch has revealed it is likely to cut more jobs at its German plants than previously anticipated. The industrial giant’s car supplier arm believes between 8,000 and 10,000 jobs are at risk, according to the group’s vice chairman …

US stock indexes returned to positive territory as the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. ADVERTISEMENT Stocks in the US were boosted by the latest inflation data cementing expectations that the US central bank, the Federal Reserve, is likely to cut interest rates at its meeting next …

The euro further declined against the US dollar following the release of US inflation data on Wednesday. Markets will be closely watching the upcoming ECB decision today. ADVERTISEMENT The euro continued to weaken against the US dollar following the US CPI data on Wednesday. The pair of EUR/USD fell for the fourth straight trading day to just under 1.05, the …

The valuation of Elon Musk’s rocket company jumped to $350bn (€332bn) due to an insider deal. ADVERTISEMENT An internal share trade pushed the, otherwise not publicly traded company’s value to the stratosphere. SpaceX was last valued at around $250bn (€238bn) and its share price was $112/stock in September. The fresh deal between the rocket company and its investors to purchase …

CEOs, academics and policymakers have gathered in Tokyo to map out how businesses can forge a resilient and innovative future, as they navigate increasing volatility and instability. ADVERTISEMENT With the dawn of a second Donald Trump administration, Russia’s invasion of Ukraine and renewed tensions in the Middle East, the annual French Japanese Business Summit has brought together industry leaders with …

The ECB is set to cut rates by 25 basis points to 3%, with further easing expected into 2025. Lower rates may provide a much-needed boost to borrowing, domestic consumption, and exports via a weaker euro, but geopolitical risks costs may limit the benefits. ADVERTISEMENT The European Central Bank (ECB) is poised to cut its deposit rate by 25 basis …

This is the second time this year the energy company has raised its output expectations. ADVERTISEMENT French energy firm EDF is forecasting nuclear production output at 358 to 364 terawatt-hours (TWh) this year, according to a statement published by the firm on Wednesday. That’s an uptick from the previous forecast of 340 to 360 TWh – and marks the second …

The bank’s monthly survey shows a rising uncertainty among businesses in Europe’s second-biggest economy. ADVERTISEMENT There is an increasing uncertainty for the near future among French businesses coupled with a slight increase in activity in November, according to the Bank of France’s monthly economic survey, which offers an insight into the current business climate in the country. France is currently …