Breaking News: Europe
ASML shares pop 7% after report that U.S. will exempt allies from new China chip restrictions
Shares of ASML jumped as much as 10% on Wednesday after a Reuters report suggested that the company could be exempted from expanded export restrictions on chipmaking gear to China. Reuters reported on Wednesday that the U.S. is considering expanding the so-called foreign direct product rule, but that allies that export key chipmaking equipment — […]
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Euro zone’s economy grew 0.3% in second quarter, above expectations despite German contraction
Shoppers make their way through the Royal Saint-Hubert Galleries shopping arcade in the old town area of Brussels, Belgium, on Friday, June 28, 2024. Ksenia Kuleshova | Bloomberg | Getty Images The euro zone’s economy grew by more than expected in the second quarter of 2024, flash figures from the European Union’s statistics office showed […]
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Oil major BP raises dividend as second-quarter profit beats expectations
A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom. John Keeble | Getty Images News | Getty Images British oil giant BP on Tuesday reported stronger-than-expected net profit for the second quarter and raised its dividend despite previously warning of significantly lower refining margins. The oil […]
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UK finance chief says public finances show $28 billion spending hole, cuts road and rail projects
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 Britain’s Finance Minister Rachel Reeves on Monday announced a raft of project cuts after detailing how the newly elected Labour government has inherited a projected […]
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Shares of Gucci-owner Kering hit seven-year low after weak forecast, revenue drop on low China sales
A bag on display at a Gucci luxury boutique in London, UK, on Friday, July 19, 2024. Hollie Adams | Bloomberg | Getty Images Shares in Gucci-owner Kering fell on Thursday, after the luxury group announced a sharp decline in revenue in the first half of the year and issued a weak forecast for the […]
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Deutsche Bank snaps 15-quarter profit streak on Postbank lawsuit provision
Deutsche Bank offices in the City of London on July 2, 2024, in London, U.K. Mike Kemp | In Pictures | Getty Images Germany’s largest lender Deutsche Bank on Wednesday snapped a 15-quarter profit streak with a narrower-than-expected loss, as it made a provision for an ongoing lawsuit over its Postbank division. Net loss attributable […]
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Ryanair shares tumble 13% as budget airline reports 46% fall in quarterly profit, sees lower fares
A Ryanair passenger plane lands at Cologne/Bonn Airport. Thomas Banneyer | Picture Alliance | Getty Images Ryanair shares fell on Monday after the company said its quarterly profit after tax had fallen 46% and fares will be lower than expected in the summer months. At 10:18 a.m. London time, Ryanair shares were down 13.59%. The […]
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European Central Bank holds interest rates, says domestic price pressures ‘still high’
The European Central Bank left interest rates unchanged on Thursday, after implementing a cut in June. “Monetary policy is keeping financing conditions restrictive. At the same time, domestic price pressures are still high, services inflation is elevated and headline inflation is likely to remain above the target well into next year,” the ECB’s Governing Council […]
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UK inflation holds steady at Bank of England’s 2% target, above expectations
Alexander Spatari | Moment | Getty Images U.K. inflation held steady at the Bank of England’s 2% target in June, Official National Statistics data showed Wednesday. The headline reading came in above analyst expectations at 1.9%, according to economists polled by Reuters, and was in line with the previous 2% reading in May. Sterling rose […]
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ASML bookings surge as AI chip demand boosts purchases of its critical semiconductor tools
ASML logo is seen at the headquarters in Veldhoven, Netherlands, June 16, 2023. Piroschka Van De Wouw | Reuters ASML reported second-quarter earnings and sales that beat forecasts, as interest in artificial intelligence chips drives up demand for the Dutch firm’s critical semiconductor making equipment. Here’s how ASML did versus LSEG consensus estimates: Net sales: 6.24 […]
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