Business

Stellantis extended its quarterly delivery decline in the US, with car sales falling 20% year-on-year. The company is committed to reducing inventory levels, which it views as the primary challenge. ADVERTISEMENT Stellantis delivered 305,294 vehicles in the third quarter, a sharp 19.8% drop from the same period last year, marking its fifth consecutive quarterly sales decline in the US. The …

SPD proposal to incentivise drivers to ditch polluting vehicles misses the mark, say critics. ADVERTISEMENT Proposals by the German Social Democratic Party (SPD) to pay drivers thousands of euros to replace their polluting cars with EVs have been criticised for tackling the wrong problem. Plans would see Germans willing to scrap their gas-guzzling cars and replace them with a new …

Nike is holding off giving guidance and has postponed investor day as it tries to give incoming CEO Elliott Hill a chance to review current strategies and plan future ones. ADVERTISEMENT Sportswear giant Nike has postponed an investor day scheduled for November and withdrawn its financial guidance, as it waits for its new chief executive officer (CEO) Elliott Hill to …

Coca-Cola is to shut down five production and logistics sites in Germany, in an attempt to cut costs and adapt to changing logistics trends. ADVERTISEMENT Drinks giant Coca-Cola is to cut some 500 jobs in Germany over the next year with the closure of five logistics and production sites.  Coca-Cola Europacific Partners (CCEP), which handles Coca-Cola’s bottling, distribution and selling …

Shares of Dutch chip equipment maker ASML are among the third quarter’s worst performers in European markets, due to regulatory hurdles and valuation concerns. ADVERTISEMENT ASML, Europe’s largest tech firm, has been one of the worst performers in the Pan-Euro Stoxx 600, with its shares plunging 24% in the third quarter. The decline was primarily driven by regulatory restrictions, particularly …

Crude prices spiked due to concerns over a potential major production disruption following Iran’s missile attack on Israel. Analysts believe oil prices could receive an additional boost if geopolitical tensions escalate. ADVERTISEMENT Crude oil prices spiked after Iran launched approximately 200 ballistic missiles at Israel on Tuesday, marking a significant escalation in the Middle East conflict. The attack was in …

High investment and low prices appear to be disrupting the established order in the UK supermarket sector. ADVERTISEMENT German retailers Aldi and Lidl are stealing a march on their UK competitors with increased investment and lower prices, disrupting the established order. Aldi is taking the fight to its UK rivals with the announcement of a record £1.4bn (€1.6) investment in …

Irish politicians have presented a generous new budget this afternoon, despite concerns about inflation risks and fiscal security. ADVERTISEMENT Ireland’s Minister for Finance and Minister for Public Expenditure outlined the national budget for 2025 on Tuesday afternoon, presenting financial plans for the year ahead. “Progressivity, fairness and catalysing real opportunity for the future … have been central to how Budget …

The drop below the target of 2% was mainly due to falling energy prices. However, the European economy may still not be out of the woods. ADVERTISEMENT The year-on-year eurozone inflation rate for September was released on Tuesday, coming in at 1.8%, according to Eurostat. This was a step down from August’s 2.2%, while also being lower than analyst expectations …

A meeting between the UK’s Prime Minister and the EU’s President could pave the way for a youth mobility scheme, although challenges remain. ADVERTISEMENT A new deal to allow young Europeans to work in the UK could be on the cards, as relations between the EU and UK hold hopes of a thaw. European Commission President Ursula von der Leyen …