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Banking fragmentation 'holding EU back', commissioner says

Maria Luís Albuquerque, commissioner for Financial Services, believes the European Union's banking sector needs a "change in mindset". She says the EU should be willing to take greater risks while preserving financial stability.

Markets

Investors look beyond the 'Magnificent 7' and embrace the 'FAB 10'

SpaceX's record-breaking market debut has pushed Wall Street to widen its favourite shorthand of the so-called 'Magnificent 7', with strategists folding Elon Musk's firm, OpenAI and Anthropic into a new 'FAB 10' label that captures the next phase of the AI trade.

Earth News

Countries agree €3.4bn for environmental projects

Representatives from 186 nations agreed the Global Environment Facility fund, which will support projects in 144 countries.

Europe News

EU cuts GDP forecast as Strait of Hormuz crisis pushes inflation up

The EU has downgraded its 2026 economic growth forecast after the Strait of Hormuz crisis sent energy prices sharply higher earlier this year. With no end to the conflict in sight, rising energy costs are fuelling tensions among member states calling for additional fiscal support measures.

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G7 finance ministers gather in Paris amid Iran tensions and tariff concerns

Finance ministers from G7 economies gathered in Paris for a second day of talks focused on global economic pressures, including the Iran conflict, US tariffs and disruptions linked to the Strait of Hormuz.

Europe Today

More 'targeted measures' are needed to tackle high energy bills - IMF

The International Monetary Fund (IMF) said vulnerable households should be the main target of energy price relief measures and urged EU governments to guarantee that these won't do "more damage than good".

Business

Anthropic reportedly in talks to secure UK-based Fractile AI chips

Anthropic is reportedly in discussions to procure high-performance AI chips from Fractile, a London-based start-up. The agreement aims to diversify the hardware supply chain of the Claude creator, namely away from Nvidia.

Business

GameStop launches $56 billion takeover bid for e-commerce giant eBay

The gaming retailer GameStop has launched a surprise $56 billion (€47.8bn) bid to acquire the online marketplace eBay, marking a potential aggressive expansion into global e-commerce.

Markets

Hair dryer trick behind €25,000 win? France probes Polymarket bet scam

Officials in France have launched an investigation into the potential compromise of national weather sensors after a series of anomalous temperature readings coincided with betting activity on Polymarket.

Business

Iran war pushes Wall Street toward 24/7 tokenised trading

Driven by the need to manage risk outside of traditional exchange hours and the desire for greater capital efficiency, major banks and hedge funds are moving towards "always-on" digital infrastructure.

Europe News

Cash makes comeback in Poland: Should we stockpile money at home?

While the trend towards the complete digitalisation of payments prevailed not long ago, today central banks and governments say that physical money may prove indispensable in crisis situations.

Business

Luxury giant LVMH faces headwinds as quarterly sales growth slows

LVMH has reported a modest 1% increase in organic revenue for the first quarter of 2026, falling short of market expectations.

Business

Goldman Sachs posts best quarterly profit in five years with 18% jump

Goldman Sachs reported strong first-quarter results, the best in five years, with quarterly profit rising 18% to $5.4 billion (€4.6bn), as the bank highlighted increased volatility due to geopolitical tensions.

Markets

Gold and silver slide: Has the Iran war reversed safe-haven demand?

Gold prices have fallen nearly 25% from their record highs, even as the Iran war continues to weigh on the global economy. Why have investors turned away from the traditional safe-haven asset?

Markets

A month into the Iran war, bond yields surge and inflation fears mount

Nearly a month into the Iran war, government bond markets have sharply repriced. Surging oil and gas costs have stoked inflation expectations and forced a rethink on central bank policy.

Markets

Oil above $100 while stocks open lower in expectation of US-Iran talks

US stocks opened slightly lower on Tuesday while oil prices climbed higher, reflecting persistent uncertainty over the Iran war even after US President Donald Trump signalled progress in talks.

Markets

South Korean stocks suffer worst day on record amid Iran war shocks

Asian markets suffered heavy losses on Wednesday, with South Korea’s main index (Kospi) plunging more than 12%, recording its worst single-day decline in history as the widening conflict in Iran continues to disrupt global markets.

Markets

European stocks dip as Gulf exchanges stay shut following Iran strikes

European markets opened in deep negative territory as crude oil prices rose in early trading, alongside gold and other precious metals. US futures are also down as global markets react to the Iran conflict.

EU.XL

How can the EU reclaim payment autonomy? Ask the Euronews AI chatbot

Europe depends on foreign payment networks more than ever, increasing its financial risks. WERO is the only available option. What is the EU doing to achieve payment independence? Ask the Euronews AI chatbot.

Business

Jack Dorsey's Block cuts 50% of jobs as it embraces AI and shares jump

Block CEO Jack Dorsey has announced a radical restructuring that will see nearly half of the company’s workforce made redundant. Shares surged by 23.5% in after-hours trading.