Amazon to close UK supermarkets
Amazon is set to close its 19 supermarkets in the UK, five years after launching its checkout-free grocery stores in London.
Denmark to spend $8.7 billion on F-35 jets and Arctic security
Denmark is set to spend $8.7 billion to acquire 16 F-35 fighter jets, while also deploying military equipment to Greenland.
Switzerland and the United States agree not to manipulate exchange rates
Switzerland and the United States have agreed not to manipulate their respective exchange rates, ensuring that the European country does not artificially strengthen the franc.
Ursula von der Leyen calls for suspension of EU free trade deal with Israel
European Commission president Ursula von der Leyen has called for the suspension of the EU’s free trade agreement with Israel, while acknowledging Europe’s inability to halt the worsening humanitarian crisis in Gaza.
Bernard Arnault warns new wealth tax in France could wreck the economy
Bernard Arnault, Europe’s richest man and chief executive of luxury group LVMH, has warned that a new wealth tax would cost him more than €1 billion in France.
Nvidia becomes first company to reach $5 tn valuation
Nvidia has become the first company in the world to reach a market valuation of $5 trillion, just three months after crossing the $4 trillion mark.
UK inflation remains steady at 3.8% in August as food prices surge
Office for National Statistics (ONS) figures released on Wednesday show that inflation in the United Kingdom held steady at 3.8% in August, despite sharp increases in food and fuel prices.
India disputes Trump’s claim on Russian oil purchases
A senior Indian official has said that Donald Trump’s statement regarding India ending its purchase of Russian oil is inaccurate.
Volkswagen reveals chip shortage will hit profits
Volkswagen has warned that its annual profits are likely to be affected by the ongoing shortage of chips as other European carmakers also caution that production could soon be disrupted.
Bitcoin reaches new milestone
Bitcoin has hit a new record high, surpassing the $125,000 mark for the first time in its history.
EU to halve steel import quotas
The European Union will introduce measures that will cut steel import quotas by almost half, Commissioner for Prosperity and Industrial Strategy Stéphane Séjourné announced.
EU pledges to shield Spain from Trump’s tariff threats
Donald Trump has threatened to impose tariffs on Spain after the country refused to spend 5% of its GDP on NATO.
US economic growth revised upwards
The US economy grew faster than analysts had predicted, boosted by strong consumer spending and a drop in imports.
EU aims to dismantle Russia’s shadow fleet
The European Union is seeking greater powers that would allow it to board vessels belonging to Russia’s so-called shadow fleet.
EU urges Belgium to allow use of frozen Russian assets
The European Union is pressuring Belgium to allow the use of frozen Russian assets as a form of "reparation loan" for Ukraine.