France's newly-installed government on Thursday presented a draft budget containing 60 billion euros ($65.6 billion) in tax hikes and spending cuts, as analysts warned the package may not be enough to stave off ratings downgrades for the economy.The 2025 budget features a greater focus on tax-raising measures than some...
Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank's Monetary Policy Committee's interest rate decision is scheduled for release on Sept. 19. Bloomberg | Bloomberg | Getty ImagesLONDON — The Bank of England on Thursday said...
Italian Prime Minister Mario Draghi during the press conference at the Multifunctional Hall of the Prime Minister on July 12, 2022 in Rome, Italy.Massimo Di Vita | Mondadori Portfolio | Getty ImagesThe European Union needs up to 800 billion euros ($884 billion) in additional financing per year to meet...
A worker at a Volvo car store introduces the Volvo xc60 and other models via a live streaming in Shanghai, China, March 18, 2024.Cfoto | Future Publishing | Getty ImagesVolvo Cars on Thursday scaled back its margin and revenue targets, after announcing it was no longer targeting 100% all-electric...
A woman takes a selfie photo, with the Eiffel Tower in the background, at Surcouf street in Paris, on July 23, 2024, ahead of the Paris 2024 Olympic Games. Mauro Pimentel | Afp | Getty ImagesEuro zone inflation dropped to a three-year low of 2.2% in August, flash figures from...
Customers shop for groceries at a Walmart store in Secaucus, New Jersey, US, on Tuesday, March 5, 2024.Gabby Jones | Bloomberg | Getty ImagesGoldman Sachs has cut its probability forecast for a U.S. recession to 20% shortly after raising it, as fresh labor market data sparked a reassessment of...
The U.K. economy grew by 0.6% in the second quarter of the year, the Office for National Statistics said Thursday, continuing the country's cautious recession rebound.The reading was in line with the expectations of economists polled by Reuters and follows an expansion of 0.7% in the first quarter.Economic growth...
General view of the UBS building in Manhattan, New York City, on June 5, 2023.Eduardo Munoz Alvarez | View Press | Corbis News | Getty ImagesSwiss banking giant UBS on Wednesday smashed net profit expectations for the second quarter, as revenue came in higher than expected.Net profit attributable to...
Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession as freight demand remains robust, the company's chief executive said Wednesday."We've seen in the last couple of years, actually, [the shipping container] market remaining surprisingly resilient to all the fear of recessions...
One Churchill Place skyscraper, the Barclays Plc headquarters, at Canary Wharf in London, U.K., on Thursday, Jan. 7, 2021. Bloomberg | Bloomberg | Getty ImagesLONDON — Barclays on Thursday reported second-quarter net profit attributable to shareholders of £1.2 billion ($1.54 billion), slightly lower than a year ago, as the lender's net...