Business

Presenting next year’s budget, the Italian government seeks to honour election promises while also satisfying EU demands. ADVERTISEMENT Italy’s far-right government has approved a budget for next year of about €30bn as it reiterates its commitment to “place citizens at the centre”. In order to financing the spending, the government expects to raise some €3.5bn from a levy on banks …

As interest rates fall, European stocks in sectors such as financials, consumer discretionary, and industrials tend to outperform. These sectors benefit from lower borrowing costs, increased consumer spending, and higher capital investments, driving market gains. ADVERTISEMENT Historically, certain European stocks and sectors have thrived during periods of interest rate cuts, particularly when central banks ease monetary policy without the backdrop …

The US electric car maker has plans to build the biggest car plant in the country, manufacturing one million cars annually. ADVERTISEMENT Tesla has been told it can start initial works on the expansion of its electric car factory in Grünheide near Berlin, Germany, after being given an environmental permit by the Brandenburg State Environmental Agency. Tesla’s first European factory …

Europe must rethink the EV rollout timetable to cut reliance on China, BMW boss Oliver Zipse said. ADVERTISEMENT The head of the powerful BMW motor group has urged European policymakers to reconsider plans to ban petrol and diesel vehicles by 2035 or risk relying on Chinese EV battery manufacturers. Speaking at the Paris Motor Show on Tuesday, BMW chairman Oliver …

The European firm is suffering from disrupted supply chains, rapid changes in warfare, and increasing budget constraints. ADVERTISEMENT Airbus plans to cut up to 2,500 jobs in its defence and space division by mid 2026, according to a statement released on Wednesday. The firm is hoping to boost competitiveness by creating a more efficient structure for the organisation, although specifics …

Lower air fares and petrol prices dragged down price increases in September in the UK, prompting hopes that there will be another interest rate cut on the cards. ADVERTISEMENT Inflation in the UK has fallen to its lowest level for more than three years, official figures showed on Wednesday, a drop that has cemented market expectations that the Bank of …

Major European luxury stocks have experienced a slowdown in growth, primarily due to softened global purchasing power, particularly in China. ADVERTISEMENT LVMH, the world’s largest luxury brand, reported its worst quarterly performance since 2020 during the three months leading up to September, resulting in a 10% drop in its American Depositary Receipts (ADR) shares on US markets on Tuesday. According …

The Mercer CFA Institute Global Pension Index assesses retirement income systems around the world. ADVERTISEMENT The Netherlands has held onto the top spot as the country with the best pension system in the world, due to its strong asset base and very sound regulation, according to the Mercer CFA Institute. The report compared 48 countries across the world, home to …

The potential sale of Opella, which produces Doliprane painkillers, is causing a headache in France. ADVERTISEMENT The possibility that France may block a deal between Sanofi and the US private equity firm CD&R is an option that is “absolutely on the table”. That’s according to France’s industry minister Marc Ferracci, who made the comments to France Inter radio on Tuesday. …

Research from UK economic think tank the Adam Smith Institute suggests three countries in Europe will see the greatest increase in the proportion of millionaires by 2028. ADVERTISEMENT Turkey, Russia, and Sweden are the European countries that will see the greatest increase in the proportion of millionaires by 2028, according to research from UK economic think tank the Adam Smith …