EU
Russia cheers Boris Johnson’s demise as the world reacts to Britain’s political drama
Russia welcomed Boris Johnson’s departure from office. Justin Tallis | Afp | Getty Images LONDON — Global leaders have reacted to Boris Johnson’s resignation, with the Kremlin in particular expressing pleasure at the U.K. prime minister’s exit. Johnson announced Thursday that it’s time for his party to choose a new leader and, therefore, a prime […]
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Volkswagen CEO says EV outlook is ‘very good,’ expects to reduce delivery times this year
An ID. Buzz stands during a plant tour of the production of the ID. Buzz in quality control at the Volkswagen Commercial Vehicles plant in Hanover, Germany, June 16, 2022. Ole Spata | Picture Alliance | Getty Images The CEO of German automotive giant Volkswagen sought to assuage concerns about electric vehicle sales and semiconductor […]
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European gas prices fall after Norway’s government steps in to end oil and gas strike
Norway’s government said that based on the announced strike numbers, it had been feared that more than half of the country’s daily gas exports would have been lost by the weekend. Joe Klamar | Afp | Getty Images European gas prices on Wednesday fell away from four-month highs after Norway’s government intervened to bring an […]
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VW and Goldman-backed battery maker Northvolt gets $1.1 billion funding injection
Northvolt’s most recent funding announcement comes at a time when major economies are laying out plans to move away from vehicles that use diesel and gasoline. Mikael Sjoberg | Bloomberg | Getty Images Electric vehicle battery maker Northvolt on Tuesday announced a $1.1 billion funding boost, with a range of investors — including Volkswagen and […]
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Germany’s much-vaunted trade surplus disappears as import prices surge
Germany trade entered negative territory in May, raising questions about the stability of its economy in the wake of Russia’s invasion of Ukraine. Picture Alliance | Picture Alliance | Getty Images Germany is no longer exporting more than what it buys from other countries, highlighting the strains that the nation and other European economies are […]
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Americans hoping for European vacations this summer should prepare for one thing: chaos
Some airlines and airports are struggling with the post-covid demand for travel. Anadolu Agency | Anadolu Agency | Getty Images LONDON — Delays, cancellations and strikes. It’s been a messy time for many European tourist hotspots as airlines and airports struggle to cope with pent-up travel demand after Covid-19 lockdowns. Thousands of flights have been […]
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EU agrees on landmark regulation to clean up crypto ‘Wild West’
Bitcoin is a volatile asset, and has been known to swing more than 10% higher or lower in a single day. Jakub Porzycki | Nurphoto | Getty Images EU officials on Thursday secured an agreement on what is likely to be the first major regulatory framework for the cryptocurrency industry. The European Commission, EU lawmakers […]
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ECB’s chief economist sees double-sided risk of spiraling inflation and an economic slowdown
Philip Lane, chief economist of the European Central Bank. Bloomberg | Bloomberg | Getty Images European Central Bank Chief Economist Philip Lane said the Frankfurt institution will have to remain vigilant over the coming months with the prospect of inflation spiraling ever higher alongside the risk of a consumer-led slowdown the region. “With the uncertainty, […]
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Lagarde plays down recession risks, says ECB is ready to ‘move faster’ on rates if needed
Christine Lagarde, President of the European Central Bank. The central bank scheduled an emergency meeting to address higher bond yields. John Thys | Afp | Getty Images European Central Bank President Christine Lagarde on Tuesday played down concerns about a recession in the euro zone, also saying her team is ready to raise rates at […]
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Electrode maker De Nora ‘not scared’ about volatility as it braves IPO
De Nora was founded in 1923 and specializes in electrode and water treatment technologies. Pavlo Gonchar | Lightrocket | Getty Images The CEO of electrode maker Industrie De Nora says it is “not scared” about the current market turbulence as it braves an IPO this week. The initial public offering was priced at 13.50 euros […]
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