Europe

Europe

EU tariffs hit growth in China’s EV exports

The prospect of European tariffs cut 20-30 percentage points off China’s growth in exports of electric and plug-in hybrid cars in recent months, an official at a leading Chinese auto industry body said on Monday.

1w ago

Oil settles 1% lower

Oil prices settled lower on Friday as the rising possibility of a ceasefire deal in Gaza outweighed strong summer fuel demand and potential supply disruptions from Gulf of Mexico hurricanes.

1w ago

New UK government faces tough economic challenge

Britain’s new Labour government on Friday pledged immediate action to grow the economy after the centre-left party won a landslide general election victory.

1w ago

Eurozone business growth slows sharply in June

Overall business growth across the eurozone slowed sharply last month as a solid expansion in the bloc’s dominant services industry failed to offset a further deterioration in manufacturing, a survey showed on Wednesday.

1w ago

Eurozone inflation eases slightly in June

Eurozone inflation cooled in June, official data showed Tuesday but experts say it will not be enough to convince the European Central Bank to accelerate its rate-cutting cycle despite sluggish economic growth.

2w ago

Global debt risks beginning to recede

The debt crisis risk that has overshadowed the global economy for four years is beginning to recede, the Paris Club of rich creditor nations said in its 2023 annual report on Wednesday.

2w ago

Red Sea gives shipping an Uber-style price surge

Anyone who has tried to secure an Uber at a busy time of day will have experienced the ride-hailing app’s least appealing feature: surge pricing. Too many punters and too few available cars mean the cost of getting from A to B spikes. Something similar is currently afflicting the global shipping sector.

3w ago

EU, China open talks over EV tariffs

EU and China trade chiefs held “candid and constructive” talks on Saturday over plans from Brussels to ramp up tariffs on Chinese electric cars, and the two sides will hold further consultations, the EU said.

3w ago

Eurozone business activity growth slows sharply in June

The growth of business activity in the eurozone slowed down in June after the manufacturing sector posted its biggest decline in six months, a key survey said Friday.

3w ago

EU sanctions target Russian gas for first time

European Union countries agreed on a 14th package of sanctions against Russia over its war in Ukraine, diplomats said on Thursday, including their first restrictions on Russian gas.

3w ago

Global tensions hit investments again in 2023: UN

Worldwide foreign direct investment fell for a second consecutive year in 2023 amid a global economic slowdown, coupled with swelling trade and geopolitical tensions, the United Nations said Thursday.

3w ago

Oil stable above $85

Brent oil futures were steady on Thursday, hovering slightly below seven-week highs as the market awaited US inventory data.

3w ago

Germany warns of trade war over EU’s China EV tariffs

The EU’s threat to hit Chinese electric cars with additional tariffs following an anti-subsidy probe risks a “trade war”, Germany said Wednesday, as the country’s auto giants warned the move would backfire.

1m ago

EU to impose tariffs of up to 38% on Chinese EVs

The European Commission notified car makers on Wednesday that it would apply additional duties of up to 38.1 percent on imported Chinese electric vehicles from next month, a move likely to draw possible retaliation from China.

1m ago

Europe's shoppers still shell-shocked

When a $500 Electrolux oven briefly went on sale for 1 percent of its list price in Hungary last week, within hours shoppers flooded the online store with thousands of orders.

4m ago

Gold demand down

Global gold demand excluding over-the-counter (OTC) trading slipped 6 percent in the third quarter as central bank buying fell short of last year’s record levels and consumption by jewellers declined, the World Gold Council (WGC) said on Tuesday.

8m ago

Meta to offer ad-free plans in Europe

Meta Platforms  said on Monday it will offer users in Europe a subscription plan to use Facebook and Instagram without advertisements to comply with the European Union regulations.

8m ago

Global industry could save $437b a year

Global industry could save around $437 billion a year from 2030 via energy efficiency savings and could also achieve big reductions in carbon emissions, a study showed.

8m ago
push notification