Business

The ECB cut rates by 25 basis points in September, citing “appropriate” action due to disinflation and a “fragile” recovery, meeting account shows. Risks to growth remain tilted to the downside. Policymakers urged structural reforms, as highlighted by Draghi. ADVERTISEMENT The European Central Bank (ECB)’s decision to cut interest rates by 25 basis points in September was deemed “appropriate” by …

GSK has always refuted claims that its discontinued heartburn drug had cancer-causing risks, arguing that expert testimonies were not reliable. ADVERTISEMENT Shares in pharmaceutical company GlaxoSmithKline (GSK) surged more than 6% after the company revealed it had reached a settlement of up to $2.2bn (€2.01bn) to end tens of thousands of lawsuits in the US in connection with its heartburn …

The euro weakened to a two-month low against the US dollar following the release of the Federal Reserve meeting minutes. The trend is likely to continue due to shifting expectations about the European Central Bank (ECB) and the Federal Reserve’s approach to interest rate cuts. ADVERTISEMENT The euro fell to its lowest level since 13 August against the US dollar …

International Monetary Fund Managing Director Kristalina Georgieva speaks to Euronews after meeting with German Chancellor Olaf Scholz as she begins her second term. ADVERTISEMENT The International Monetary Fund (IMF) is recommending that Europe sticks together in the face of fragmentation within the single EU market, in order to avoid a financial crisis. As the world grapples with crises emerging one …

Germany’s economic downturn deepens with a projected contraction in 2024, marking its second consecutive year of decline. Manufacturing struggles and global competition, especially from China, highlight structural issues. Growth is expected to return in 2025. ADVERTISEMENT Germany’s economic woes are continuing, with the country now facing the spectre of closing 2024 in recession. On Wednesday, German Economy Minister Robert Habeck …

The purchase is seen as an attempt to boost its lithium portfolio and strengthen its position as the transition towards green energy continues. ADVERTISEMENT Mining giant Rio Tinto is to buy US-based Arcadium Lithium in a deal worth some $6.7bn (€6.11bn). This is seen to be a step towards strengthening the former’s lithium offerings, with the company aiming for a …

The European Commission says it will ‘robustly’ challenge China’s decision to impose provisional antidumping measures on imports of brandy from the EU. ADVERTISEMENT The European Commission has reacted angrily to China’s decision to bring in temporarily anti-dumping measures on imported brandy from the European Union (EU). In a statement issued after China announced its plans, the European Commission said: “The EU …

South Korean and Indian government bonds are set to join global index provider FTSE Russell in 2025, in a move that is expected to attract billions of dollars of foreign investment into their local bond markets. ADVERTISEMENT Global financial market index provider, FTSE Russell, will include South Korean government bonds in the FTSE World Government Bond Index (WGBI) and Indian …

Easing fears of a potential Israeli attack on Iran’s oil facilities have sent both oil and global prices sharply lower on Tuesday. However, volatility is likely to persist, with critical economic events later this week. ADVERTISEMENT Both oil and gold prices fell sharply on Tuesday amid potential ceasefire talks between Israel and Hezbollah, the Iran-backed Lebanese military group. Oil futures …

Italy’s ambitious Structural Budget Plan aims to steer the country out of the European Union’s Excessive Deficit Procedure by 2026, but economists warn aggressive fiscal tightening could harm growth and risk recession. ADVERTISEMENT Italy this week unveiled an ambitious Structural Budget Plan – “Piano Strutturale di Bilancio (PSB)”, aimed at tackling its long-standing debt challenge while stabilising public finances.  Although the …