English

Eleanor Butler

Markets

Citigroup fined millions by UK regulators over ‘fat-finger’ error

Trade monitoring controls at the US investment bank were not robust enough and led to mistakes, explained UK regulators.

Economy

German property crisis deepens as foreign investment dries up

High interest rates and economic uncertainty are driving overseas investors away from German real estate.

Business

SNCF in talks with drivers to keep trains on track for Paris Olympics

The SNCF's meeting with union leaders follows Tuesday's strike by train drivers, called as part of a protest to speed up a deal over bonus payments for working through the Olympic period.

Economy

EU hit as China launches tit-for-tat anti-dumping probe

Thermoplastics coming from the US, the EU, Taiwan and Japan are sold at prices below fair market value, says Beijing.

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Business

Ryanair sees profits grow, predicts cheaper-than-expected summer fares

Yearly earnings for the budget airline are at a record level despite rises in fuel prices, higher staffing costs and delivery delays.

Business

Cartier-owner Richemont names new CEO amid luxury slowdown

The Swiss group will transfer Nicolas Bos from Van Cleef & Arpels as part of a restructuring process.

Business

Tesla gets green light to expand German plant after revision to plans

Approval to expand its first European plant was given after Tesla revised its original proposals following anger at the proposed felling of more than 100 hectares of trees.

Markets

Reddit shares surge on news of OpenAI content deal

ChatGPT will be trained using Reddit content as competition for premium datasets heats up among AI firms.

Business

Decline in luxury spending spells trouble for Burberry's bottom line

The British fashion brand announces plummeting profits, with particularly poor sales reported in China.

Business

German conglomerate Thyssenkrupp fails to cheer investors as sales dip

CEO Miguel López says the firm performed "as planned" in the second quarter, although the market remains "gloomy".

Business

President Macron open to takeover of French banks by European rivals

Cross-border solidarity is the key to European growth, says Macron, even if it means domestic companies falling into non-French hands.

Business

'Choose France' summit attracts record amount from foreign investment

President Macron says funding from business giants such as Microsoft, Amazon, and Pfizer will benefit French citizens across the country.

Economy

Is part-time work fuelling Germany’s economic woes?

The minister president of Saxony, Michael Kretschmer, says a return to the 40-hour week is necessary to maintain economic prosperity in Germany.

Economy

Argentinian unions launch strike against Milei's austerity reforms

Workers in the South American country are protesting against austerity measures and planned reforms by new libertarian President Javier Milei.

Economy

UK shakes off recession with 0.6% GDP growth in first quarter

In a pre-election boost for Prime Minister Rishi Sunak, national output surpasses analysts’ expectations.

Economy

Experts call for restrained spending as global debt hits record high

Debt in emerging markets such as India and China and stubborn inflation in the US is putting pressure on funding costs.

Business

Telefónica confirms 2024 targets after earnings meet expectations

The Spanish telecoms giant says it has started 2024 with "solid growth and profitability rates".

Business

UK banks under fire for debanking hundreds of defence firms

The wrongful closure of hundreds of bank accounts belonging to defence companies puts national security at risk, claim Conservative MPs.

Business

World’s largest brewer still suffers hangover from year-long boycott

Belgian drinks company Anheuser-Busch Inbev meets quarterly revenue forecasts but fails to fully recover from last year’s backlash.

Economy

EU-China relations: The economic challenges yet to be resolved

No major deals have emerged from Chinese President Xi Jinping's European visit despite efforts to find common ground on a number of topics.

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