English

Eleanor Butler

Economy

Germany’s GDP contraction worse than expected after tariff boost

The economy had seen a slight uptick at the start of this year as businesses sought to get ahead of tariffs, but the country has now slipped back into contraction territory.

Business

Mediobanca shareholders reject bid to acquire Banca Generali

The rejection could threaten Mediobanca’s independence as the Milanese lender seeks to fend off a takeover by Italian competitor MPS.

Markets

Pop Mart shares rise 12% as Labubu maker announces new mini doll

The firm announced the launch of a new Labubu doll as the furry elf toys continue to take the world by storm.

Economy

UK job vacancies fall at a slower pace while wage growth holds steady

Payrolled employment decreased by 8,000 in July compared with June, the smallest decline since a modest rise in January.

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Business

Chipmakers Nvidia and AMD to pay 15% of China revenue to US government

The unprecedented deal is part of a bargain to secure US export licenses for the Chinese market.

Markets

Gold futures rise after report Trump has placed tariffs on gold bars

The futures reached a record high on Friday after the US reportedly placed tariffs on imports of one-kilo gold bars.

Business

Trump declares 100% computer chip tariff unless firms build in the US

The announcement comes more than three months after Trump temporarily exempted most electronics from his administration's most onerous tariffs.

Business

BP launches cost-cutting scheme despite beating profit expectations

The business review comes just a few months after BP said it would save $4bn to $5bn by the end of 2027, relative to 2023 costs.

Business

Europe’s M&A market is alive and kicking - in spite of the odds

Geopolitical unrest and trade uncertainty are complicating mergers and acquisitions (M&A). Despite the volatility, battle-hardened executives are pushing ahead with dealmaking.

Business

Rheinmetall secures €770mn order from German army amid defence boom

The deal for more than 1,000 logistics vehicles comes as Europe ramps up military spending in response to global tensions.

Business

Italy hands fast fashion retailer Shein €1 million greenwashing fine

The decision comes after France fined the retailer €40m in July over fake discounts and misleading environmental claims.

Business

Trump administration sues California over egg prices, blames red tape

Egg prices in the US spiked earlier this year amid a bird flu outbreak that led to mass cullings, although costs are now dropping.

Business

Italy's Ferrero to buy WK Kellogg in $3.1 billion deal

The deal could allow the chocolate maker to establish a strong foothold in the US cereal market.

Economy

German Chancellor says he’s confident EU-US trade deal will come soon

The EU is working to avoid a tariff rate as high as 50% ahead of a 1 August deadline. It now appears that a 10% duty is on the table.

Markets

US copper prices soar after Trump threatens 50% tariff on imports

The 50% duty would match the rate placed on steel and aluminium imports. The president also said he plans to impose a tariff of up to 200% on pharmaceutical drugs.

Economy

China sees consumer price inflation in positive territory in June

CPI inflation climbed into the green for the first time since January, although producer prices remain in deflationary territory.

Business

Daimler Truck plans to cut around 5,000 jobs in Germany

The announcement comes as Daimler Truck holds its Capital Markets Day on Tuesday in North Carolina in the US.

Markets

Shein files for Hong Kong IPO to speed up London listing, FT reports

The e-commerce platform filed for a London IPO around a year and a half ago, but has been unable to secure regulatory approval, partly linked to its exposure to the Xinjiang region.

Economy

German exports drop as US shipments decline ahead of tariff deadline

Exports had jumped in February and March as German manufacturers sought to get ahead of tariffs threatened by the US. Shipments then dropped dramatically in the following two months, pointing to a short-lived surge.

Business

France’s Capgemini to buy WNS for $3.3bn to improve AI offerings

The acquisition comes as Capgemini seeks to expand its AI operations, and WNS will also provide more access to the US market.

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