Doloresz Katanich
Economy
EU unveils banking reforms to unlock billions in investment
In a bid to reduce fragmentation in the EU banking sector and meet companies’ growing investment needs, the European Commission has unveiled proposals aimed at making banks more competitive and potentially unlocking billions of euros for investment, but obstacles remain.
Business
Trump Media to sell faster access to key market-moving social posts
Customers will receive posts from Truth Social’s “most influential accounts” in milliseconds through a service aimed at financial institutions and professional traders. The feed could include Donald Trump’s market-moving posts, although the company has not confirmed which accounts will be covered.
Business
China ‘firmly opposes’ UK nationalisation of British Steel
The UK government announced on Thursday that it had passed legislation to nationalise British Steel, previously owned by China’s Jingye Group, to protect the country’s steelmaking capacity after Jingye moved to shut the company’s blast furnaces.
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Economy
Heatwaves could drive Europe's food prices higher next year
While food inflation has eased across the eurozone, economists say this summer's extreme heat is now a bigger threat to next year's supermarket prices than the recent Iran war, as damaged harvests could outweigh the fading impact of higher oil and fertiliser costs.
Business
AI demand lifts Europe's biggest company ASML's sales forecast
Europe's biggest company by market capitalisation, ASML, continues to benefit from the AI boom after raising its full-year net sales forecast to between €43bn and €45bn. Investors welcomed the upgrade, sending the shares up more than 5%.
Economy
China's economic growth hits slowest pace in more than three years
China's economy grew 4.3% year on year in the second quarter, its weakest pace since late 2022, as weak domestic demand and a prolonged property downturn outweighed strong exports, increasing pressure on Beijing to provide more economic support.
Economy
France shuts down nuclear reactors as heatwave intensifies
France's state-owned energy group EDF has temporarily shut down three nuclear reactors, while seven others could be operating at reduced power. France's largest electricity producer said the move was required to comply with environmental regulations.
Business
Volkswagen lacks backing for overhaul plan with up to 100,000 job cuts
Volkswagen's proposed restructuring plan failed to win backing from the labour bloc on the company's supervisory board on Thursday, leaving uncertainty over additional job cuts and factory closures. The carmaker nevertheless laid out plans to reduce production capacity and simplify its model range.
Markets
Oil jumps as Trump declares Iran ceasefire over, European stocks slide
Crude oil prices rose more than 6% to a two-week high after US President Donald Trump declared the interim accord to end the war with Iran "over", while fresh US military strikes renewed concerns about oil supplies through the Strait of Hormuz.
Business
Sky agrees to buy British broadcaster ITV for up to £1.6 billion
The two British media businesses are set to come under one roof, as ITV has agreed to sell its broadcasting and streaming business to Sky for up to £1.6bn (€1.87bn), in a deal that would create a major new competitor to global streaming platforms.
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