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Doloresz Katanich

Business

Bank of America fined $1.2bn over money laundering failures

US authorities have imposed a $1.2 billion (€1.07bn) penalty on Bank of America over failures to tackle money laundering. The bank also settled alleged sanctions violations involving Iran and Russia.

Business

Big US banks beat earnings forecasts, but JPMorgan falls short

Wall Street's biggest banks reported another strong quarter on Tuesday, but they warned that higher rates and inflation could bite.

Business

LVMH sales: China slowdown hits Louis Vuitton and Dior

LVMH, the world's leading luxury group, said its sales edged higher in the third quarter despite a slowdown in demand in China hitting its fashion and leather goods segment.

Business

French defence firm Thales to open Japan maintenance base

The facility could be the first in Japan set up by a foreign defence company to maintain military equipment and support its operation, according to Nikkei.

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Economy

IEA urges additional diesel releases ahead of key meeting

Tightening global diesel markets prompted the International Energy Agency to call on its members to accelerate previously agreed releases from strategic oil reserves, prioritising diesel. The IEA also asked member states to assess "whether additional diesel releases are necessary".

Markets

EU countries agree to shift major financial market oversight to ESMA

EU countries struck a deal on Friday to give the EU’s financial markets watchdog more powers, aiming to make cross-border investment easier and help businesses raise more money across the bloc.

Economy

Germany lifts GDP forecast as economy withstands Iran war

The government lifted its full-year growth projection to 1.3%, up from its April forecast of just 0.5%, as the German economy proved more resilient than expected.

Business

Ryanair CEO sees no European jet fuel shortages into summer 2027

Ryanair CEO Michael O’Leary expects Europe to have enough jet fuel through next summer, but warns that high prices will persist for another 12 to 18 months.

Markets

Oil tops $105 as Trump weighs return to Iran combat operations

Brent crude rose above $105 a barrel on Thursday after reports that US President Donald Trump is considering a return to "major combat operations" against Iran, while European stock markets opened lower as rising oil prices fuelled inflation fears.

Business

Mercedes global sales fall 6% as electric car sales hit record high

Mercedes-Benz shares fell after the German carmaker reported a 6% fall in global sales, driven by weakness in China. Sales outside China edged higher, supported by growth in Europe and North America.

Business

Paramount and Warner Bros merge to form Hollywood giant Skydance

Two of America’s oldest film studios have completed their merger, bringing CNN, HBO and franchises including The Godfather and Harry Potter under one roof.

Business

Schneider Electric shares plunge on record $22.6bn PTC deal

French energy technology group Schneider Electric has signed a definitive agreement to acquire Boston-based PTC for $22.6bn (€20.1bn) to expand its industrial AI business. The French company's shares plummeted on Monday following the announcement.

Economy

Gulf crude exports return to pre-war levels, excluding Iran

Oil exports from the Middle East, excluding Iran, exceeded their pre-war average last week, Kpler data showed, as pipelines helped bypass the Strait of Hormuz despite continued attacks on shipping.

Business

The best place to retire abroad is no longer in Europe

European destinations scored highly in a new global retirement ranking, with six countries among the top ten, as people looking to retire abroad weigh higher taxes against quality of life.

Economy

Europe’s diesel reserves: How a release could lower pump prices

The EU says it is ready for collective action with the IEA on a fresh emergency release. Analysts say releasing diesel reserves could lower pump prices within days, but would offer only short-term relief.

Economy

No relief at the pump: EU diesel hits new record of €2.24 a litre

Twelve EU countries recorded new diesel price highs as supply disruptions pushed the bloc’s average pump price to €2.24 a litre.

Economy

Trump announces $200bn in South Korean energy investment plans

US President Donald Trump announced Wednesday plans for $200 billion in South Korean investments in US energy projects, including $54 billion for a long-planned liquefied natural gas (LNG) project in Alaska that Seoul said it had not yet agreed to invest in.

Business

BMW bets on AI, job cuts and €2bn to boost German production

German premium carmaker BMW Group is investing around €2 billion in vehicle production and battery manufacturing in Germany, as it unveils plans to rebuild profitability.

Economy

UK growth revised up to 0.5%: What drove the stronger figures?

Stronger services growth drove the upward revision to second-quarter GDP growth, as the UK battles high borrowing costs, inflationary pressures and a cooling labour market.

Economy

IEA could weigh further oil reserve releases as EU energy costs soar

The IEA says it could consider releasing more emergency oil stocks if supply disruptions worsen, although another release is not currently its top priority. Europe faces a difficult winter after spending more than €100bn extra on energy imports since the Iran war began.

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