Europe
European Union votes to impose tariffs on Chinese electric vehicles
Employees work on an electric vehicle (EV) production line at the Leapmotor factory in Jinhua, China’s eastern Zhejiang province on September 18, 2024. Adek Berry | Afp | Getty Images The European Union on Friday voted to adopt definitive tariffs on China-made battery electric vehicles (BEVs). “Today, the European Commission’s proposal to impose definitive countervailing […]
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Online retailer Shein to hold roadshows soon ahead of London IPO, Reuters reports
The logo of fast fashion e-commerce company Shein outside its office in Guangzhou in southern China’s Guangdong province. Jade Gao | Afp | Getty Images Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering, three sources with knowledge of the matter said, pushing ahead with preparations […]
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Commerzbank and UniCredit hold talks as takeover prospect looms
A Commerzbank AG bank branch, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Krisztian Bocsi | Bloomberg | Getty Images Commerzbank and UniCredit began talks Friday, with the German bank on the defensive over a potential takeover after its Italian counterpart unexpectedly increased its stake earlier this month. The discussions, which […]
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European shares surge to fresh record highs as luxury giants rally on China stimulus
Krisztian Bocsi | Bloomberg | Getty Images LONDON — European markets were higher Friday, tracking gains in China on news of a stimulus blitz, while investors also weighed fresh inflation data. The pan-European Stoxx 600 was 0.3% higher at around 11:50 a.m. London time, with most sectors and major bourses in positive territory. Autos and […]
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Pictures show floods ravaging Central and Eastern Europe as death toll rises
Floods brought on by days of heavy rainfalls have been ravaging countries including Poland, Romania, the Czech Republic and Austria, with thousands of people being evacuated as the death toll rises. Austrian Chancellor Karl Nehammer on Monday said in a post on social media platform X, that was translated by CNBC, that two more people […]
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Once the envy of the world, Germany’s car brands now weigh heavily on its struggling economy
Various vehicles and special parts are displayed at Mercedes-Benz Museum, an automobile museum, welcoming its visitors in Stuttgart, Germany on June 28, 2024.. Gokhan Balci | Anadolu | Getty Images Germany’s car industry was once recognized around the world for its high-quality, innovative combustion engine cars. Owning a German car was a luxury and status […]
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Euro zone inflation rises to 2.6% in July, above expectations
People shopping at the downtown market, Cour Lafayette, in Toulon, on July 27, 2024. Magali Cohen / Hans Lucas | Afp | Getty Images Headline inflation in the euro zone unexpectedly rose to 2.6% in July, the European Union’s statistics agency said Wednesday, even as price growth in the services sector eased slightly. In June, […]
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Adidas shares rise 5% after hiking 2024 guidance
A Samba shoe on Oct. 12, 2023, in Berlin, Germany. Thomas Trutschel | Photothek | Getty Images Shares in Adidas rose on Wednesday after the company announced it would hike its full year 2024 earnings guidance following better-than-expected preliminary results for the second quarter. Adidas was last up 4.72% at 8:19 a.m. London time. The […]
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UK launches new rules for listings in bid to boost growth for London’s stock exchange
A general view of a dragon boundary mark and the City of London skyline, the capital’s financial district, as the Bank of England raises UK interest rates to 4%. Vuk Valcic Sopa Images | Lightrocket | Getty Images The U.K.’s Financial Conduct Authority announced Thursday new rules for the country’s stock market listings in a […]
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Greece defends new six-day working week legislation, says it’s an ‘exceptional measure’
The Parthenon temple is seen empty due to heatwave in Athens, Greece on June 12, 2024. Costas Baltas | Anadolu | Getty Images The Greek government has defended its new six-day working week policy, saying it is an “exceptional measure” that would only be applied in “specific circumstances.” Greece introduced in early July new regulation […]
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