Germany
German inflation at highest level in nearly half a century
Cologne, Germany, February 19 2022: Consumer prices in Germany increased an annual 8.7% in May, the Federal Statistics Office said on Monday. Sascha Schuermann | Getty Images News | Getty Images German inflation reached its highest level in nearly half a century in May, a result of energy and food prices that have only gone […]
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Airbus sets up UK-based facility that will focus on hydrogen tech for aircraft
A model of one of Airbus’ ZEROe concept planes, photographed in November 2021. The firm has said it wants to develop “zero-emission commercial aircraft” by the year 2035. Giuseppe Cacace | Afp | Getty Images Airbus is launching a U.K.-based facility focused on hydrogen technologies, a move which represents the firm’s latest attempt to support […]
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European stocks close lower as UK inflation hits 40-year high; Stoxx 600 down 1.1%
LONDON — European stocks closed lower on Wednesday as fears over inflation rattled markets on either side of the Atlantic. Stock picks and investing trends from CNBC Pro: Global markets have remained bogged down by fears of aggressive monetary policy tightening and slowing economic growth. Earnings before the bell came from ABN AMRO, Burberry, British […]
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After the ‘hippie’ bus and the Beetle, VW has its eyes on America once again
As Volkswagen looks to resurrect the Scout brand in the United States, CEO Herbert Diess has shed light on the decision, saying it represents an opportunity for the German auto giant to “become much more American.” VW announced plans to re-launch the Scout as a fully-electric pick-up and “rugged” SUV last Wednesday, with prototypes due […]
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European stocks climb as global markets look for rebound; Stoxx 600 up 1.4%
LONDON — European stocks bounced on Friday as global markets looked to regain some ground after a bruising week, with investors assessing the outlook for inflation and interest rates. The pan-European Stoxx 600 added 1.4% by around noon, with travel and leisure stocks jumping 3% to lead gains as all sectors and major bourses traded […]
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European markets close higher despite hot U.S. inflation data; Stoxx 600 up 1.6%
LONDON — European stocks closed higher Wednesday, with investors largely shrugging off hotter-than-expected inflation data out of the U.S. The pan-European Stoxx 600 provisionally closed up 1.6%, with autos jumping 3.6% to lead gains as all sectors traded in positive territory except health care, which fell 1.2%. The gains in Europe come after some choppy […]
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European markets close down 2.8% as travel, tech stocks lead losses; oil prices fall 5%
LONDON — European stocks on Monday fell to two-month lows as global investors fled risk assets en masse due to fears over inflation. The pan-European Stoxx 600 provisionally ended down 2.8%, hitting its lowest level since Mar. 8. Travel and tech shares led the losses, down 5.8% and 4.8% respectively, as all sectors and major […]
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Ice cream freezers to get ‘warmed up’ in trial by Ben & Jerry’s owner
According to Unilever, the industry standard for freezer temperatures in many markets stands at minus 18 degrees Celsius (around 0 degrees Fahrenheit). The temperature of freezers in the trials will be minus 12 degrees Celsius. Chris Ratcliffe | Bloomberg | Getty Images Unilever — which owns brands including Ben & Jerry’s, Magnum and Wall’s — […]
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Prosecutors search Deutsche Bank HQ in money laundering investigation
A logo stands on display above the headquarters of Deutsche Bank AG at the Aurora Business Park in Moscow, Russia. Andrey Rudakov | Bloomberg | Getty Images Prosecutors, federal police and other officials searched Deutsche Bank’s headquarters in Frankfurt on Friday in a move Germany’s largest lender said was linked to suspicions of money laundering it […]
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Europe scrambles for natural gas solution as Putin squeezes supply
EU Commission President Ursula von der Leyen said this latest aggressive move by Russia is another reminder that we need to work with reliable partners, and build our energy independence. Thierry Monasse | Getty Images News | Getty Images The European Union is racing to find alternative suppliers of natural gas after Russia’s Gazprom halted […]
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