Donald Tusk urges banks to accept higher taxes to fund the military
Polish Prime Minister Donald Tusk has called on banks to accept higher corporate taxes in order to drastically increase the country’s defence budget.
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.
US economic growth revised upwards
The US economy grew faster than analysts had predicted, boosted by strong consumer spending and a drop in imports.
Russian oil exports slump as Ukraine steps up refinery attacks
Russian oil exports have fallen as Ukraine intensifies drone strikes on refineries, while Moscow continues to channel energy revenues into funding its war effort.
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.
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.
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.
Denmark pledges €210 million to support Greenland
Denmark announced on Tuesday a plan to boost funding for Greenland, allocating €210 million for investments in infrastructure and healthcare services.
Chinese economy slows amid Trump’s tariffs
China’s economy slowed last month due to the impact of the trade war imposed on Beijing by US president Donald Trump, as both household spending and production declined during this period.
France’s credit rating downgraded amid political crisis
Fitch Ratings downgraded France’s credit rating on Friday, as French president Emmanuel Macron appointed a new prime minister amid ongoing political and economic turmoil.
Trump’s tariffs: Inflation rises in the United States in August
Inflation in the United States surged in August as companies passed on the customs duties imposed by the Donald Trump administration to the prices of goods and services.
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.
Volkswagen close to sealing deal with the United States to reduce tariffs
Volkswagen is reportedly on the verge of finalising a deal with the United States, as tariffs imposed by the Trump administration continue to weigh heavily on the German carmaker’s business.