Business

With the continuation of Russia’s invasion of Ukraine, business owners and academics discuss how the country’s economy may develop post-war. ADVERTISEMENT It can be difficult to imagine eastern Europe without the Russia-Ukraine war. After nearly three years of fighting, there are many unknowns regarding when and how the conflict may end. What is certain is that whatever Ukraine’s future looks …

Interest rates are nearing neutral territory, ECB’s Isabel Schnabel has said, backing gradual cuts amid persistent inflation. She highlighted risks from Donald Trump’s trade policies, noting potential economic shocks for Europe as tariffs loom over export-heavy economies. ADVERTISEMENT Isabel Schnabel, a member of the European Central Bank’s (ECB) Executive Board, has said there is limited scope for aggressive rate cuts …

The European judges dismissed HSBC’s procedural challenge against the cartel fine imposed by the European Commission in 2021. ADVERTISEMENT The EU General Court on Wednesday upheld a fine slapped on HSBC for online trader collusion with other banks to manipulate euro interest rate derivatives, dismissing a procedural challenge against the sanction. In 2016, the European Commission fined Crédit Agricole, HSBC …

A key survey shows Germans preparing to tighten their belts rather than boost private consumption, the sector which provides half of the GDP in Europe’s biggest economy. ADVERTISEMENT Europe’s top economy, Germany, has seen economic uncertainty, including job losses in the car industry, send consumer expectations to their lowest level in seven months. The Gfk Consumer Climate Indicator, a key …

The smaller Italian lender had previously flagged “serious concerns” about the “employment and social impacts” of a potential merger. ADVERTISEMENT Up to 6,000 jobs could be lost if a takeover bid from Italian rival UniCredit is successful, Banco BPM CEO Giuseppe Castagna has warned. “Cost synergies estimated by the bidder, equal to over a third of Banco BPM’s cost base …

The French-Italian car giant says it is planning more investment to enhance its other UK factory at Ellesmere Port as the UK’s sustainable, EV-only volume manufacturing plant. ADVERTISEMENT Stellantis says a plan to consolidate its factories in the UK will include the closure of its factory in Luton. Some 1,100 jobs are potentially lost. The Luton plant currently builds Vauxhall …

Europe’s airlines are increasingly looking to consolidate to boost competitiveness and expand networks. ADVERTISEMENT Franco-Dutch firm Air France-KLM is interested in buying a stake in Air Europa, said Globalia on Wednesday. The owner of Air Europa said in an email sent to Euronews that “there is interest…but currently nothing is closed”. Air France-KLM has not yet responded to a request …

EasyJet has revealed its results for the year ended 30 September 2024, recording a substantial rise in profit, boosted by robust summer travel demand. ADVERTISEMENT British low-cost airline giant easyJet announced its financial year 2024 results for the 12 months ended 30 September 2024 on Wednesday and said headline profit before tax soared 34% year-on-year to £610m (€731.14m). It was …

The deal has been 25 years in the making and it aims to create one of the largest free trade zones in the world – but farmers in Europe are heavily opposed to sealing it, saying that they cannot compete with South American livestock producers. ADVERTISEMENT After more than 20 years of negotiations, the 27-nation European Union and Mercosur — …

Consumers will have to pay more for their cars, one analyst warns, adding that among the hardest hit would be Volkswagen, Stellantis, General Motors and Ford. ADVERTISEMENT If President-elect Donald Trump carries out his threat to impose 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give …