Business

Virgin Group says it is close to placing a significant order for high-speed trains that is expected to shake up Eurostar’s 30-year monopoly on the Channel Tunnel. ADVERTISEMENT Richard Branson’s Virgin Group is preparing to order 12 high-speed trains as a challenge to high-speed rail startup, Evolyn, which is also hoping to compete with Eurostar to offer rail services from …

The current California wildfires have caused billions of euros worth of losses to property and infrastructure. European reinsurance companies may also be affected. ADVERTISEMENT The ongoing wildfires in California are likely to be the costliest disaster in US history, according to California Governor Gavin Newsom. Private forecaster AccuWeather Inc. has put its initial total damage and economic loss estimates from …

Austrian far-right leader Herbert Kickl and his prospective coalition partners said on Monday that they have reached an agreement to bring down the budget deficit, an important first step toward what would be the country’s first post-World War II government led by the far-right. ADVERTISEMENT Kickl, whose Freedom Party won Austria’s parliamentary election in September, received a mandate to try …

Plug-in hybrids saw the most rapid growth in 2024, attracting a second generation of electric vehicle buyers who are nervous about buying pure EVs or looking for the more extended range that hybrids can provide. ADVERTISEMENT Sales of all types of electric vehicles rose more than 40% in China last year, while those of petrol-powered car plunged, industry data has …

President-elect Donald Trump has pledged to raise tariffs on Chinese goods and close some loopholes that exporters now use to sell their products more cheaply in the US. ADVERTISEMENT China’s exports in December grew at a faster pace than expected, as factories rushed to fill orders to beat higher tariffs threatened by US President-elect Donald Trump once he takes office. …

This week, attention will centre on inflation data from major economies, including the US, EU, and UK. Additionally, China’s forthcoming release of its Gross Domestic Product (GDP) growth figures for the final quarter will be a critical gauge for its economic trajectory. ADVERTISEMENT The European stock markets outperformed global peers last week, buoyed by expectations of a more accommodative monetary …

Google’s EMEA President, Matt Brittin has seen over 50% of the planet gain access to the internet. Here are his takeaways from his time at the top. ADVERTISEMENT A recent Google report found that generative AI could add between €1.2 – €1.4tn to the EU’s GDP within a decade.  As well as the financial gain, Google’s outgoing EMEA President, Matt …

The Biden administration’s new sanctions target Russia’s oil giants Gazprom Neft and Surgutneftegas, shadow fleet vessels, and opaque traders. Oil prices surged, while European equities slid as investors fear tighter global supply. ADVERTISEMENT The Biden administration unveiled Friday sweeping sanctions targeting Russia’s oil sector, shaking global energy markets and deepening the economic isolation of Moscow just ten days before Donald …

The European planemaker delivered 766 jets last year, marginally missing its goal due to supply chain disruptions. ADVERTISEMENT Airbus looks certain to retain its lead ahead of competitors in the aerospace industry as it confirmed it had delivered 766 jets last year. “On deliveries, we kept our trajectory and celebrated several landmark firsts,” said Christian Scherer, CEO of Commercial Aircraft …

European stock markets outperformed their global counterparties this week, driven by the energy sector’s strong gains. ADVERTISEMENT Global stock markets are mixed this week with Wall Street on a retreat, and the European equities broadly higher. While surging government bond yields weighed down the US stock markets, rising energy and metal prices have buoyed the European counterparties. However, currencies moved …