The European Union and the US are moving toward a deal that would impose 15% tariffs on most products, according to diplomats briefed on the negotiations. Member states are likely ready to accept 15% tariffs, and EU officials are pushing for them to cover sectors including autos, diplomats said. Steel and aluminum imports above a certain quota would be subject to a 50% duty, one diplomat added. Diplomats said that while the EU is optimistic that a deal can be reached, they are also cautious that any final agreement would require the approval of US President Donald Trump, and his final...
Britain is set for solid growth and falling inflation this year but the Bank of England has little scope to cut interest rates further, the NIESR think tank predicted on Wednesday in a relatively upbeat set of forecasts. The National Institute of Economic and Social Research also said finance minister Rachel Reeves remained just on track to stay within her fiscal rules when the Office for Budget Responsibility updates its forecasts next month - though it said there should be a greater focus on long-term debt challenges. NIESR forecast the British economy would grow by 1.5% this year -...
Italy's second-largest lender UniCredit on Tuesday posted a fourth-quarter profit beat, raising shareholder returns amid market focus on the bank's M&A overtures.Net profit attributable to the group came in at 1.969 billion euros ($2.03 billion) in the fourth quarter, compared with an analyst forecast of 1.803 billion euros, according to a LSEG-compiled consensus.Revenues reached 6 billion euros over the period, versus analyst expectations of 5.898 billion euros.Other fourth-quarter highlights included:Return on tangible equity of 11.5%, compared with 19.7% in the third quarter.CET 1...
British employers are the most likely among those in major European countries to include salary details when they advertise a job, with 71% doing so compared to just 16% in Germany, research from recruitment platform Indeed showed on Tuesday.The proportion of British job advertisements providing salary details has risen steadily from 48% in 2019 and has also increased elsewhere in Europe, though the gaps between countries have not changed much."The culture around pay secrecy and negotiation is a bigger factor in some countries than others," Indeed economist Jack Kennedy said.Next (LON:NXT)...
U.S. President Donald Trump said on Sunday that he will announce additional 25% tariffs on all steel and aluminum imports into the U.S., and will also announce reciprocal duties over what he sees as unfair trading practices. Speaking to reporters on Air Force One, Trump said he will announce the 25% tariffs on Monday, and will announce the reciprocal tariffs on Tuesday or Wednesday, with both duties to be effective immediately. The president was on his way to the NFL Super Bowl in New Orleans- a route that saw him fly over the Gulf of America, which the president had recently renamed from...
Hundreds of small earthquakes that shook Greece's tourist hotspot of Santorini this week have revived concerns about the safety of a decades-long construction boom along the island's sheer, volcanic cliffs, experts said. No serious damage has been reported, but scientists have warned that the seismic activity could last for weeks and have not ruled out the possibility of a larger quake to come. That worries experts, some of whom have long questioned the sustainability of turning the small island of quaint villages into one of Europe's most popular holiday destinations. "They wanted to...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
US President Donald Trump announced that a 19% tariff will be imposed on goods from the Philippines, following trade talks prompted by Filipino President Ferdinand Marcos Jr.'s recent visit to the...