Europe

Europe

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.

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.

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.

Oil prices broadly stable

Oil prices were broadly stable on Tuesday following the previous session’s dip after a flurry of economic data from Germany, the wider euro zone and Britain sketched a bearish picture which could weigh on oil demand.

UK labour market loses steam

Britain’s labour market lost a bit more of its inflationary heat in the three months to August, data from the Office for National Statistics (ONS) showed on Tuesday, potentially helping the Bank of England to keep interest rates on hold next week.

Bitcoin soars to 18-month high

Bitcoin rose 6 percent on Tuesday to $35,198, its highest in nearly a year-and-a-half, on mounting speculation that an exchange-traded bitcoin fund is imminent.

Energy efficiency efforts / 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.

Oil price slips

Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas.

UK, Singapore partner to boost economic growth

The British government has signed a partnership with Singapore to grow its economy and enhance shared security, Downing Street said on Friday, adding it was the UK’s first treaty since leaving the European Union.

German industrial output dips again

German industrial production fell for a third straight month in July, official data showed Thursday, adding to fears of a prolonged downturn in Europe’s largest economy.

Eurozone inflation stagnates

Eurozone inflation remained unchanged in August, official data showed Thursday, leaving the European Central Bank faced with a conundrum over whether to continue hiking interest rates amid fears of a deepening economic downturn.

Russia to step up support for sagging rouble

Russia’s central bank announced Wednesday it plans to sharply step up support for the rouble, which has weakened considerably after 18 months of Western sanctions following Moscow’s military intervention in Ukraine.

German factory orders plummet

German factory orders fell more than expected in July, official data showed Wednesday, in the latest setback for Europe’s largest economy as it grapples with an industrial slowdown.

Oil price drops

Oil prices dipped on Tuesday as fresh data added to gloom over the state of China’s post-pandemic recovery, although expectations of an extension in supply cuts by leading Opec+ producers limited losses.

Russia upends global grain trade

Russia has cemented its position as the world’s top grain exporter with the help of a bumper harvest and cut-rate prices while its war in Ukraine has upended the market.

German exports remain volatile

German exports fell again in July after a slight rebound in June, official data showed on Monday, as Europe’s biggest economy battles an industrial slowdown.

Tesla, Chinese EV brands jostle for limelight at German fair

One of the world’s biggest auto shows opened in Munich on Monday, with Tesla ending a 10-year absence to jostle for the spotlight with Chinese rivals as the race for electric dominance heats up.

Western companies weigh pros and cons

Should they stay or should they go now? Eighteen months after the start of the war in Ukraine, many Western companies in Russia are still assessing the pros and cons.

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