Author: Euronews

Eurozone economy grew by 0.3% in the first quarter of 2024, beating expectations and marking the strongest growth since Q3 2022. Annual inflation remained stable at 2.4%, while core inflation slowed to 2.7%, likely clearing the path towards the first ECB rate cut in June. ADVERTISEMENTEconomic growth in the eurozone exceeded economists’ expectations in the first quarter of the year, while the annual inflation rate for April demonstrated stable performance compared to the previous month. This halted the downward trend that began in January, but it also provided some encouraging signs for an anticipated European Central Bank (ECB) rate cut…

The European Commission says the platforms’ tools to protect the EU elections are not sufficient. ADVERTISEMENTMeta’s Facebook and Instagram are subject to an investigation over how the platforms tackle disinformation under the Digital Services Act (DSA), amid fears they are vulnerable to Russian networks, the European Commission said today (30 April).The suspected infringements cover Meta’s practices relating to deceptive advertising and political content on its services, the Commission said.According to the EU executive, the company’s advertising network is vulnerable to misinformation, and potentially a target for Russian networks. The platforms also lack an effective third-party real-time election-monitoring tool since Meta did…

Austrian billionaire Reinold Geiger offers to buy up shares and take the company back into private hands to focus on “rebuilding the foundation for the long-term sustainable growth of our company”. ADVERTISEMENTThe owner and major shareholder of French firm L’Occitane is looking to take his skin-care firm back into private hands after a 14-year stretch on the Hong Kong Stock Exchange.Austrian billionaire Reinold Geiger has offered HK$34 (€4.05) per share to buy the stock he doesn’t already own, an increase on the most recent closing share price of HK$29.50 (€3.52).The deal is worth up to HK$13.91bn (€1.7 billion), and the…

Roughly 80% of cut flowers in the UK are sourced from the Netherlands, according to the British Florist Association, and post-Brexit trade rules are making sellers nervous. ADVERTISEMENTStarting today, all fresh European plant and animal products being imported to the UK must be checked directly for diseases at the British border. This includes milk, meat – and flowers.Dutch flower and plant exporters expect days-long delays and believe that British consumers will soon have to pay more.Under the initial post-Brexit regime, checks on perishables were permitted to be done close to delivery addresses at thousands of locations in the UK. But now, the…

Mercedes-Benz also saw falling profits, as expected, due to changes in models and supply chain issues, while Stellantis also missed earnings expectations due to a poor product mix. ADVERTISEMENTVolkswagen Group has reported a 20% year-on-year drop in first quarter operating profit for 2024, as falling sales and increasing costs continued to bite. In addition, a disappointing brand, country and model mix also added to dampened results.The group’s sales volume for the same quarter was down 2% compared to the corresponding quarter in 2023, which sold 2.1 million units. Sales revenue also decreased 1% year-on-year to €75.5 billion, with operating profit…

One senior analyst said the bloc has prospered overall, but there have been ”bumps on the road, otherwise known as Poland and Hungary and possibly Slovakia”. He warned of the possibility several current EU-hopefuls might also violate the bloc’s common values and interests. Source link

Noel Quinn is to step down after a tumultuous five years at the helm of the UK-based bank. Source link

Hopefuls in June’s European elections are taking the leap to TikTok in a bid to influence young voters, despite the security and misinformation concerns plaguing the app. Source link

Despite a disappointing first quarter, the airline expects a record summer boosted by leisure as well as business travellers, leading to more plans to expand the company’s long-haul routes. ADVERTISEMENTGerman national carrier Lufthansa reported its first quarter 2024 earnings on Tuesday, clocking in an operating loss of -€849 million, a steep plunge from Q1 2023’s loss of -€273 million euros. However, the group saw its revenue for the first quarter rise 5% year-on-year to €7.4 billion, up from €7 billion in Q1 2023.Net loss for the group was -€734 million, down from Q1 2023’s -€467 million.This was mainly due to…

Ursula von der Leyen has given her strongest indication yet that she would be willing to work with Giorgia Meloni’s hard-right party after the upcoming elections to the European Parliament. Source link