Business

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 …

ASML shares plunged 15.7% on Tuesday, the worst drop since the chipmaker went public in 2002, after an early earnings release revealed a lowered sales outlook for 2025. ADVERTISEMENT Dutch semiconductor equipment giant ASML saw its shares tumble on Tuesday after its third-quarter earnings were accidentally released ahead of schedule. Shares of ASML Holding, trading in Amsterdam, closed 15.7% lower, …

International financial market actors hailed a potential agreement that could see transactions finalised one day after trades are made — but moving to T+1 could require new Brussels legislation. ADVERTISEMENT EU regulators confirmed in a Tuesday statement that they want to speed up the settlement of securities transactions – following a shift already underway in the US and UK.   The plan …

The world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Company, is set to expand its operations in Europe, according to a Taiwanese official. ADVERTISEMENT A leading maker of AI chips, Taiwan Semiconductor Manufacturing Co. (TSMC) is reportedly planning more plants in Europe.  Taiwan’s National Science and Technology Council Minister Wu Cheng-wen told Bloomberg TV: “They have started construction of the first …

The ECB is expected to announce a rate cut on Thursday, responding to falling inflation and worsening economic conditions. Eurozone inflation fell to 1.8% in September, while weak PMI data indicates economic stagnation. ADVERTISEMENT The European Central Bank (ECB) is widely expected to announce a rate cut during its upcoming meeting on 17 October, as deteriorating economic conditions and declining …

China reported weaker-than-expected consumer price growth for September, alongside an underwhelming economic briefing, which may exert pressure on European luxury stocks. ADVERTISEMENT China reported weaker-than-expected inflation over the weekend, highlighting continued sluggish consumer demand despite aggressive stimulus measures. The disappointing data was accompanied by an underwhelming economic briefing by the Chinese Finance Minister on Sunday, likely leading to further declines …