UBS analysts have cut their eurozone GDP growth forecast for 2025 and 2026 due to the impact of US tariffs on European goods. The bank’s new forecast sees the eurozone economy grow by 0.5% in 2025 and 0.8% in 2026. Previously, GDP growth was expected to be 0.9% and 1.1%, respectively. UBS raised its 2027…
The number of new passenger cars registered in Germany fell by 3.9% in March compared to the same month last year to 253,497, the Federal Motor Transport Authority said in a report. Meanwhile, sales of petrol-powered cars fell by 29.4%, diesel by 21.7%, while registrations of electric cars rose by 35.5% and hybrids by 22.1%….
European Commission President Ursula von der Leyen held a press conference after a summit in Brussels on March 20. She discussed US-EU relations and said that Brussels would delay Washington’s retaliatory tariffs until mid-April. Initially, the EU had intended to impose retaliatory tariffs on €26 billion worth of US goods in two phases, on April…
The European Union will impose tariffs on $28 billion worth of US goods, Reuters reported, citing the European Commission. Today, 25% tariffs imposed by US President Donald Trump on steel and aluminum imports came into force. In response to the US President’s decision, the European Commission said the EU would take countermeasures against US products…
Last week proved challenging for global stock markets, with major US indices experiencing significant declines. The S&P 500 fell by 1.7%, while the Nasdaq and Dow Jones indices both saw an average drop of 2.5%. This negative sentiment extended to European markets, contributing to an overall global market valuation decrease of nearly $1 trillion. Factors…
Several regions in Spain have launched a unique initiative, selling homes for just one euro to breathe new life into small towns and villages struggling with depopulation. Local authorities hope this approach will attract new residents and stimulate economic activity in these areas. The properties available under this scheme are mostly located in rural communities…
The European Union has announced an ambitious financial commitment of €200 billion to augment its artificial intelligence (AI) capabilities. European Commission President Ursula von der Leyen outlined this investment at the Artificial Intelligence Summit in Paris, positioning the EU to be more competitive with global AI leaders such as the United States and China. According…
The European Union has signaled its readiness to take retaliatory measures in response to any U.S. tariffs on European imports, an EU official announced to ANSA news agency. This development comes as U.S. President Donald Trump indicated his plans to impose tariffs, following similar actions against Mexico, Canada, and China. The unnamed EU official asserted…
Brussels and London have formulated contingency plans to counter potential tariff increases on European Union and UK goods by the United States under the administration of President Donald Trump, Politico reported on Wednesday. According to the report, European and British officials are bracing for a possible trade conflict with the US, signaling readiness to act…
Thanks to their international influence and the high purchasing power of the American consumer, the largest US retailers are now at the top of the list of the most profitable firms globally. Outside the United States, the largest share of the most profitable companies is mainly represented in the energy sector – many of which…
