Breaking News: Europe
Volkswagen targets layoffs and 10% pay cuts amid plans for German plant closures, union says
Cars stand at a Volkswagen dealership on October 10, 2024 in Berlin, Germany. Sean Gallup | Getty Images News | Getty Images Volkswagen is considering widespread pay cuts and layoffs as well as the closure or size reduction of its plants in Germany, the company’s works council said Monday. The Volkswagen management recently presented plans […]
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European markets rise as trading begins; Philips shares tumble more than 12%
European markets rise as trading kicks off European markets were higher as trading began on Monday, with the pan-European Stoxx 600 last adding 0.24% at 8:15 a.m. London time. Travel and leisure stocks were up around 1.1%, while oil and gas stocks lost 1.7%. Regional bourses were also mostly higher with France’s CAC 40 adding […]
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European stocks set to slip at open; Mercedes car earnings plummet
European markets: Here are the opening calls European markets are seen opening mixed on Friday, according to IG data. Germany’s DAX is set to open 33 points lower at 19,416, with France’s CAC 40 down 11 points at 7,497. The U.K.’s FTSE 100 is seen heading for a cautiously brighter start, up 5 points at […]
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Britain announces major change to fiscal rules to free up billions in spending
Britain’s Finance Minister Rachel Reeves has pledged to make the “necessary”, “urgent” and “incredibly tough” choices to restore the country’s economic stability. Pool | Getty Images News | Getty Images U.K. Finance Minister Rachel Reeves on Thursday confirmed she intends to change the country’s fiscal rules in the October budget, a move designed to free […]
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European markets move higher; Renault shares up 6% after quarterly revenue jump
European stocks were slightly higher on Thursday, as investors reviewed another batch of earnings reports, and as U.S. market declines weighed on global sentiment. The pan-European Stoxx 600 was up 0.53% by 10:05 a.m. London time, with the majority of major bourses and sectors trading in positive territory. Travel and leisure stocks added 2.85% while […]
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Barclays profit jumps 23% in third quarter, beating expectations
Signage shines through a window reflecting Barclays head office in Canary Wharf, London, U.K. Bloomberg | Getty Images LONDON — British bank Barclays on Thursday reported £1.6 billion ($2 billion) net profit attributable to shareholders for the third quarter, beating expectations. The result compared with the £1.17 billion net profit forecast in an LSEG poll of analysts, and […]
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European stocks close lower as traders focus on earnings and bond yields
Canada’s central bank cuts interest rates by 50 basis points Canada’s central bank on Wednesday took a big step in easing monetary policy by cutting its key benchmark rate by 50 basis points to 3.75%. The Bank of Canada said it expects the global economy to expand at a rate of about 3% over the […]
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Deutsche Bank swings back to profit in the third quarter, beating expectations
A sign for Deutsche Bank AG at a bank branch in the financial district of Frankfurt, Germany, on Thursday, Feb. 2, 2023. Bloomberg | Bloomberg | Getty Images Deutsche Bank on Wednesday beat expectations in its return to profit in the three months to September, after snapping its 15-quarter profit streak in the second quarter. […]
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World’s largest sovereign wealth fund posts $76 billion in quarterly profit as interest rates fall
The headquarters of the Norges Bank, Norway’s central bank, in Oslo, Norway, on Tuesday, Jan. 30, 2024. Bloomberg | Bloomberg | Getty Images Norway’s gigantic sovereign wealth fund on Tuesday reported third-quarter profit of 835 billion Norwegian kroner ($76.3 billion), citing a stock market boost from falling interest rates. The so-called Government Pension Fund Global, […]
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European stocks lower; defense firm Saab up 6%; German software giant SAP hits all-time high
HSBC names first female CFO, announces restructure LONDON – Nov. 5, 2020: Fog shrouds the Canary Wharf business district including global financial institutions Citigroup Inc., State Street Corp., Barclays Plc, HSBC Holdings Plc and the commercial office block No. 1 Canada Square. Dan Kitwood | Getty Images News | Getty Images HSBC on Tuesday announced a […]
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