Business

Global stock markets rose on optimism surrounding potential ceasefire talks in the Middle East. However, the rally lost steam after the US reported a hotter-than-expected CPI by the end of the week. Notably, the semiconductor sector posted gains due to strong demand forecasts for AI chips. ADVERTISEMENT Global markets posted gains this week as fears of a wider conflict in …

The country’s centre-right government is set to slash taxes for people aged 35 and under in a measure aimed at dissuading them from emigrating and also encouraging foreigners to settle in Portugal. ADVERTISEMENT In a move designed to encourage young Portuguese from leaving the country, the centre-right government suggested tax breaks for young people in the new budget for 2025, …

The proposed offer from Clayton, Dubilier & Rice (CD&R) would mean the sale of a 50% stake in Opella, which makes over-the-counter medicine such as Doliprane and Allegra. ADVERTISEMENT The deal for the pharmaceutical giant is one of the biggest of its kind. It is likely to give CD&R a controlling stake in the division and is estimated to be …

The draft budget plan will be under intense scrutiny by the EU Commission after Brussels formally warned France of its excessive budget deficit back in June. ADVERTISEMENT The French government has unveiled its draft budget plan for 2025 on Thursday in Paris during a press conference. It’s a touchy subject considering France’s staggering deficit is projected to reach more than 6% …

Unilever has said that it has divested its Russian business as it leaves the country more than two-and-a-half years into the Russia-Ukraine war. The company has already stayed in Russia much longer than several of its peers. ADVERTISEMENT Multinational Unilever has sold its Russian subsidiary, becoming the latest in a long line of companies choosing to divest of their Russian …

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 …