Retail sales across the eurozone declined at their steepest rate in nearly two years in May, reflecting growing economic concerns and a slowdown in consumer spending. The latest data, released by Eurostat, shows that seasonally adjusted retail sales fell by 0.7% in the eurozone compared to April, while the broader European Union experienced an even…
Global financial assets grew by 8.1% in 2024 to a record $305 trillion, according to the annual report of the international consulting company Boston Consulting Group (BCG). Strong stock markets and positive investor sentiment supported this. North America and the Asia-Pacific region remain the fastest-growing regions, with growth in US dollar terms of 14.9% and…
The International Monetary Fund (IMF) has warned of the threat of stagnation in the European economy due to trade conflicts and low domestic demand. The IMF’s April forecast for the eurozone economy provides for growth of only 0.8% this year, and the risks to this forecast are heavily skewed to the negative side, the fund…
Norway’s $1.9 trillion pension fund has called for urgent reform of Europe’s capital markets. The fund will submit its official response to a European Commission consultation this week, warning that the continent could fall further behind the US and Asia in terms of competitiveness, the Financial Times reported. Norway’s government pension fund, also known as…
The European Central Bank forecasts that consumer prices in the eurozone will increase by 2% in 2025 and by 1.6% in 2026. The forecast was published after a meeting at which the European Central Bank cut rates by 25 basis points. Three months ago, the regulator predicted inflation of 2.3% in 2025 and 1.9% in…
Bulgaria is reportedly on track to join the Eurozone in 2026, which would see the nation adopt the euro as its official currency. This development, highlighted by the publication “Politico” citing unnamed sources, suggests a significant step in Bulgaria’s European integration. According to Politico, both the European Commission and the European Central Bank (ECB) are…
In 2024, the highest average incomes were enjoyed by residents of northern and western European countries. The gap with the countries at the bottom of the ranking is quite large. Gross earnings, which represent the amount of compensation before all deductions, may not be the most effective indicator for comparing European countries, as workers’ income…
Google, the search engine owned by Alphabet Inc., is being sued by dozens of websites across the European Union, according to a Bloomberg News review. The platforms are seeking a total of 12 billion euros in damages. The plaintiffs accuse Google of stealing users. The plaintiffs include price comparison platforms that help consumers find the…
Global banking giant HSBC Holdings Plc has announced a significant drop in its first-quarter earnings compared to the previous year. The London-based bank revealed a net profit of $7.57 billion for the first three months of the year. This figure represents a substantial 30% decrease from the $10.837 billion recorded during the same period in…
Last year, the number of initial asylum applications in EU countries decreased by 13% and amounted to 912,000 applications. Refugees from Syria were the most common asylum seekers in EU member states in 2024, with a total of 148,000 applications, which is 16% of the total. According to data presented by Eurostat, the highest number…
