Business

The prospect of a buyback worth trillions of South Korean won has cheered investors after a disappointing year. ADVERTISEMENT The value of Samsung stock rose more than 5% on Monday after the tech firm said it would repurchase around 10tn Won (€9.48tn) of its own equity last week. The buyback, Samsung’s first since 2017, aims to reinvigorate interest in the …

With key economic data and Nvidia earnings scheduled, this week will provide important signals for global market directions. ADVERTISEMENT This week, the market focus will be on flash manufacturing and services economic data (PMIs) from major economies, including the eurozone, the UK, and the US. Additionally, the artificial intelligence powerhouse Nvidia is set to report its quarterly earnings, gauging the …

As some firms scale back work-from-home policies, others continue to promote flexible set-ups. Mark Frein, chief operating officer at Oyster, talks to Euronews about remote working – and the benefits of hiring diverse talent. ADVERTISEMENT While an increasing number of companies are scaling down options to work remotely, the pandemic has irreversibly altered the way that we work. According to …

The share of minimum wage income spent on rent varies across Europe, from 35% in France to 56% in the Netherlands. Euronews Business examines minimum wages and average rent costs in EU countries. ADVERTISEMENT “Housing, water, electricity, and gas” constituted the largest portion of household expenditures in the EU. In 2022, nearly a quarter of all household spending (24.1%) was …

Gazprom Export has announced that it will be halting gas supplies to Austria, following the latter’s biggest state-owned fossil fuel company, OMV, winning an arbitral award against it. ADVERTISEMENT Gazprom Export has revealed that it would be stopping gas supplies to Austria after over 50 years, from 16 November. This follows Austria’s biggest fossil-fuel company, state-owned OMV, recently bagging an …

General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market. ADVERTISEMENT The workers, mostly white collar, were notified about the decisions early Friday. The company confirmed the layoffs in a statement but gave few details. “We need to optimise for speed and excellence,” the statement said. “This includes …

Energy companies from Persian Gulf states have expressed interest in searching for natural gas off the southern coast of Cyprus, President Nikos Christodoulides said on Friday. ADVERTISEMENT Speaking at an energy conference in Nicosia, he said Cypriot authorities are in early talks with several unidentified companies regarding exploration licenses for some of Cyprus’ 13 areas, or blocks, inside an exclusive …

The European Commission expects the Irish economy to decline in 2024. However, growth is expected to pick up pace again in 2025, before stabilising in 2026. ADVERTISEMENT Ireland’s gross domestic product (GDP) is estimated to fall by 0.5% this year, according to the recently released Autumn 2024 Economic Forecast report by the European Commission. This is primarily because of the …

Hyundai Motor Company has appointed its first foreign chief executive officer (CEO) in an attempt to expand the company outside of South Korea and solidify its leadership in areas such as electrification. ADVERTISEMENT South Korean automotive giant, Hyundai Motor Company (HMC), has appointed José Muñoz as its new president and CEO, effective from 1 January next year. He will be …

As the euro weakens post-Trump’s win, a group of European firms with high US revenue and low asset exposure stand to gain from a stronger dollar environment. ADVERTISEMENT As the euro plunges to its weakest level against the dollar in over a year, spurred by Donald Trump’s presidential win, certain European companies may find themselves poised for windfall gains. Trump’s …