economy
This month, as banks gather for their AGMs, they face an important decision. While it’s not a surprise to see CEOs ignore the throngs of climate protesters shouting outside their offices, banks are starting to face criticism in more unlikely circles. With investors getting increasingly twitchy as banks continue to finance climate chaos, this year it’s time for them to listen and act. It makes no sense for banks to continue to pump billions into rapidly depreciating carbon assets as our boiling planet reaches the point of no return. Instead, they can do what they do best — follow the money, gro...
Euronews (English)
European stock markets are poised for a positive weekly close with the FTSE 100 repeatedly refreshing new highs, amid growing bets for central banks to cut interest rates this year. Globally, Wall Street is on track for a three-week winning streak due to a setback in the US government bond yields. Asian stocks are mostly higher, supported by China's encouraging economic performance. EuropeOn a weekly performance, the FTSE 100 rose by 2.56%, the Euro Stoxx 600 climbed 2.47%, the DAX advanced by 4.38%, and the CAC 40 added 3.45%. The European stock market rally is broad-based, with all the secto...
Euronews (English)
Eurozone retail sales witnessed their sharpest monthly increase since September 2022, displaying promising signs of economic recovery in household consumption. Data released by Eurostat on Tuesday revealed retail sales in the euro area advanced by 0.8% month-on-month in March. The rebound came after an upwardly revised decline of 0.3% in February and exceeded market expectations of a 0.6% increase. Annually, sales grew by 0.7%, reversing a 0.5% contraction in February and marking the first positive annual rate since September 2022, the highest since May 2022. European consumers reluctant to sp...
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The historic Kashan bazaar in central Iran once sat on a major caravan route, its silk carpets known the world over. But for the weavers trying to sell their rugs under its ancient arches, their world has unravelled since the collapse of Iran's nuclear deal with world powers and wider tensions with the West. Rug exports, which exceeded $2 billion (€1.86 billion) two decades ago, have plummeted to less than $50 million (€46.5 million) in the last year that ended in March, according to government customs figures. With fewer tourists coming and increasing difficulties in making international tran...
Euronews (English)
The American public debt is at the highest levels ever and is expected to progressively increase due to huge budget deficits that surpass the country's economic growth, generating fears of a potential fiscal crisis in the world's leading economy. The US national debt has soared to a staggering $34.5 trillion (€32.3 trillion), nearly three times that of the entire eurozone, accounting for 122% of its gross domestic product (GDP) versus the eurozone's 87%. According to the latest International Monetary Fund (IMF)'s Fiscal Monitor report, this figure is projected to rise to 134% by 2029, indicati...
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On 25 April Portugal celebrates 50 years of democracy. Since its 1974 revolution, it has embraced freedom of the press, free elections, and the right to healthcare, to strike and to education. But as with every year's April 25 celebrations, the country is discussing what still needs to be done. There is much to celebrate. Raquel Varela, social historian at NOVA University Lisbon, singles out the revolution's legacy of workers' rights, which had never previously existed in the country. She also points to the construction of the National Health Service and the education system which, in her opin...
Euronews (English)
Global stock markets are on track for their third consecutive week of decline amidst escalating tensions in the Middle East conflict. Reports of explosions in Iran have further fuelled concerns, deepening losses across major world benchmark indices. As risk aversion sentiment prevails, investors are flocking to traditional safe-haven assets such as gold, silver, government bonds, and the US dollar. The Japanese Yen and the Swiss Franc have also seen significant spikes as investors seek refuge. Additionally, crude oil prices surged over 3%, with Brent futures surpassing $90 per barrel following...
Euronews (English)
The political endorsement came Thursday after hours of discussion in Brussels and despite profound disagreements between leaders over proposals to harmonise corporate tax rules and a decades-old plan to integrate the capital markets of EU countries. It comes as the bloc faces an increasingly volatile geopolitical context, rapid demographic changes and stiffer competition from foreign governments that are roping in investments with attractive subsidy packages. The pact is an attempt to retain a competitive edge on the global stage and prevent Europe from becoming an industrial desert at the exp...
Euronews (English)
Germany’s chancellor Olaf Scholz has said he has no plans to decouple from China but demanded more progress towards better access for German companies in the world’s second-largest economy. Scholz is on a three-day visit to China to press his case for a more level economic playing field. The trip comes just days after he and France’s president Emmanuel Macron called for a “re-balancing” of trade relations with Europe. China’s president Xi Jinping said Germany should view and develop bilateral ties from a long-term and strategic perspective. “The significance of consolidating and developing Chi...
Euronews (English)
European stock markets extended their winning streak in March, marking the fifth consecutive month of gains and capping off a remarkable first quarter in 2024. EU inflation and US Job Data in focusThe Euro Stoxx 50 and the DAX maintained their momentum, reaching new record highs as investors anticipated potential rate cuts by the European Central Bank (ECB). The US stock markets have also wrapped up the month on a positive note as the surge in interest surrounding artificial intelligence (AI) contributed to the positive market sentiment. However, there is a debate emerging regarding whether th...
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