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…
The euro is recording its fastest growth in 15 years, and investors are increasingly seeing it as an alternative to the US dollar amid growing global uncertainty. Bloomberg writes about this. The currency has risen to a three-year high and is approaching the $1.15 mark, and hedge funds and analysts are already talking about a…
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…
