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Business

World Chocolate Day: The EU is celebrating with sky-high prices

Prices in the cocoa market have dropped recently from record highs, but coupled with high energy costs, they have fuelled a double-digit increase in European retail prices compared to last year.

Economy

Lagarde says ECB 'will not rest' as eurozone inflation hits 2% in June

Eurozone price pressures rose in line with expectations in June, reaching the ECB’s 2% target. ECB President Christine Lagarde struck a cautious tone in her opening remarks at the central bank’s annual symposium in Sintra.

Economy

Eurozone business activity stalls in June: Will the ECB cut again?

Eurozone business activity stalled in June, with PMI data showing flat growth linked to weak services and manufacturing. Germany improved slightly, while France declined. Persistent service-sector cost pressures and renewed energy concerns may cloud ECB rate cut prospects.

Economy

Energy in Europe is also at stake as Israel-Iran conflict escalates

As the Israel-Iran conflict escalates further, there is a mounting fear that natural gas fields are going to be targeted — as well as oil shipping routes. Europe’s liquefied natural gas supply would be seriously impacted, along with its economies.

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Economy

Bank of England holds interest rates amid intensifying inflation risks

As widely expected, the Bank of England kept interest rates on hold as fears grow that the conflict between Israel and Iran will escalate to involve the United States. This would likely send oil prices soaring and push UK inflation further above target.

Economy

Swiss central bank cuts interest rate to zero to fight deflation

The step was widely anticipated but fuels concerns over a potential return to negative rates.

Europe News

Hundreds gather in Barcelona to protest southern Europe's overtourism

Thousands protested against overtourism in southern Europe on Sunday. In Barcelona, demonstrators fired water pistols and set off smoke grenades.

Economy

US inflation rose slightly last month as grocery prices ticked higher

Inflation remains stubbornly above the Federal Reserve’s 2% target, which makes it less likely that the central bank will cut its key short-term interest rate.

Economy

UK unemployment rises to a four-year high as firms cut back on hires

Employers are hesitant to recruit more staff as they contend with a rise in payroll taxes and a bumped-up minimum wage.

Economy

Eurozone economy grows by 0.6%: Lagarde shuts door on July rate cut

The eurozone gross domestic product grew by 0.6% quarter-over-quarter in the first quarter of 2025, marking the strongest pace of growth since late 2022. ECB's President Christine Lagarde hinted that a July pause in rate cuts may be warranted.

Economy

ECB lowers rates for the eighth time as trade tensions threaten growth

The central bank lowered its benchmark interest rate by a quarter point, in line with analyst estimates.

Business

Bulgaria close to adopting the euro: What stands in the way?

Bulgaria's government is pressing ahead with its plan to join the euro currency union, aiming to deepen European integration.

Economy

Eurozone inflation falls below ECB 2% target in May: Rate cut in sight

Eurozone inflation fell to 1.9% in May, below forecasts, boosting expectations of an ECB rate cut on Thursday. Core inflation also eased to 2.4%. The euro slipped and bond yields fell as markets priced in a 25bp rate cut to 2.0%.

Economy

Which European countries are seeing taxes outpace real wage growth?

While most European countries experienced higher real post-tax incomes in 2024, some saw a decline, as rises in personal average tax rates outpaced real wage growth.

Economy

Eurozone disinflation on track as price pressures ease in Germany

Inflation eased across major eurozone economies in May, with Germany holding at 2.1%, Spain falling to 1.9% and Italy to 1.7%, reinforcing expectations of cooling price pressures ahead of next week’s euro area data.

Business

Inflation in Spain falls to 1.9% in May in line with ECB targets

Inflation falls to 1.9% in May but core inflation remains above 2%. The Consumer Price Index (CPI) reaches its lowest value since last October.

Economy

UK inflation jumps to highest in over a year on rising energy bills

Inflation in the UK rose to its highest level in over a year in April, driven by a wave of higher household bills, including energy and water, according to official figures released on Wednesday.

Economy

EU budget needs 'a comprehensive overhaul' to handle shocks, says IMF

EU spending rules have not kept pace with challenges facing the bloc, warned the IMF’s Europe director.

Economy

How much will Trump’s tariffs drag on the EU economy in 2025?

The European Commission cut back its growth forecasts for this year and the next on Monday, due to the impact of US President Donald Trump’s tariff policies.

Economy

Where did real wages rise and fall the most in Europe in 2024?

In 2024, real wage growth was strongest in Eastern Europe. Among the 32 European countries, it declined in only four.