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Economy

Bank of England keeps rates at 5%, propels pound to over 2-year highs

The Bank of England held rates at 5%, as largely expected. The pound surged against the dollar and euro, while the FTSE 100 dipped slightly. European stocks rallied following the Federal Reserve's rate cut.

Economy

EU car industry calls for urgent action as EV new car sales tumble

The industry is calling for policymakers to help, saying that, if nothing is done, the required transition will be costly not only to the carmakers but to the economy itself, as well as putting the EU's transition to zero-emission at risk.

Economy

What is the economic impact of floods across Europe?

Central Europe is experiencing its biggest floods in decades, which is expected to cost billions in economic losses.

Economy

Spotlight shifts to ECB as US CPI weakens case for Fed jumbo rate cut

European markets may be bracing for a hawkish rate cut from the European Central Bank, following higher-than-expected US inflation data, which dampened hopes for a significant rate reduction by the Federal Reserve.

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Economy

Germany's political uncertainty diminishes investor confidence

The growing support for Germany's populist parties, the AfD and BSW, could exacerbate the country's economic challenges, potentially accelerating the trend of businesses relocating their operations elsewhere.

Europe News

Draghi’s report risks colliding with EU political reality

Bruegel expert Guntram Wolff told Euronews that translating the report into EU legislation won't be easy due to political instability in some key EU member states.

Economy

Eurozone inflation hits over 3-year low: Are ECB rate cuts looming?

Eurozone annual inflation fell to 2.2% in August 2024, yet core inflation, driven by persistent services costs, remains stubborn. ECB’s Schnabel urges caution regarding potential rate cuts.

Markets

Markets look ahead: Crucial data may hold key to what happens next

Market sentiment may remain fragile following the recent rout, as investors turn their attention to key indicators from major economies this week. In particular, US inflation data will be crucial in shaping global market trends.

Economy

Eurozone growth picks up but Germany's economy sees surprise fall

The eurozone's GDP grew 0.3% in the second quarter of 2024, exceeding expectations, but Germany's contracted by 0.1%, indicating economic struggles for the bloc’s largest economy.

The Big Question

AI adoption could boost European business but what’s holding us back?

“Digital skills will actually become more important going forward in the workplace than your actual university degree,” says AWS.

Business

French car maker Renault posts 1.9% rise in first-half sales volume

The surge in sales was largely due to the strong performance of the company's hybrid models in Europe.

Economy

Germany approves draft 2025 budget: Funds to Ukraine halved

The German government endorses a draft 2025 budget with €481 billion in spending, including €78 billion for investments. The budget allocates €75.3 billion for NATO's defence spending target, but halves funds to Ukraine.

Economy

Jittery times in June make euro and yen the weakest currencies

In the group of G-10 currencies, the euro and the Japanese yen saw the sharpest decline against the US dollar. The EU's political turmoil and the BOJ's dilemma in its policy stance have weighed on both currencies.

Economy

IMF's roadmap for Europe: More green investment and market integration

The IMF recommends Europe implement strategic macroeconomic policies, structural reforms, and increased green investment to address challenges such as reduced fiscal buffers, an ageing population, and low productivity growth.

Europe News

Election aftermath - MEPs to watch on economic and financial policy

The European Parliament is establishing new political groups and leadership, with the first constituent plenary session on 16-19 July - Euronews has earmarked MEPs likely to shape economic and finance policy in the new assembly.

Business Planet

'I start from a big, red alarm' - Enrico Letta urges radical EU single market shake-up

In partnership with The European Commission

The EU's single market is based on free movement of goods, services, capital and people. Ex Italian PM and author of a report into the single market, Enrico Letta argues a 5th freedom - encompassing research, education and innovation - is vital for Europe's future prosperity.

Economy

Eurozone economy growth thanks to increased household spending

In the first quarter of 2024, the eurozone economy grew by 0.3% compared with the previous quarter, according to the third estimate published by Eurostat, the statistical office of the European Union.

Economy

Final manufacturing figures show Eurozone inching towards recovery

The index remains in negative territory but shows the smallest fall in more than a year. Spain's economic health is looking up while Germany and France continue to show weakness.

My Europe Series

State of the Union: sunshine in Ankara, darkness in Tbilisi

This edition of State of the Union focuses on the continuing diplomatic détente between Turkey and Greece and the escalating domestic upheaval in Georgia.

Economy

Why the days of lower European property prices may soon be over

European residential properties have held onto nearly all their value, while the overall price drop for all types of commercial properties slowed down significantly after almost two years of going downhill, latest data reveals.