Author: Euronews

EU lawmakers voted in a landslide in favour of new curbs on crypto, football clubs and cash transactions. Source link

The US is grappling with record $34.5 trillion debt, triple the eurozone’s, and set to hit 134% of GDP by 2029. Elevated deficits and skyrocketing interest payments may evoke fears of imminent fiscal crisis if countermeasures are not adopted. ADVERTISEMENTThe American public debt is at the highest levels ever and is expected to progressively increase due to huge budget deficits that surpass the country’s economic growth, generating fears of a potential fiscal crisis in the world’s leading economy.The US national debt has soared to a staggering $34.5 trillion (€32.3 trillion), nearly three times that of the entire eurozone, accounting for…

Spain’s socialist leader has denied claims by a right-wing platform his wife used her position to influence business deals. Source link

Volkswagen and other European giants risk falling behind in an industry where manufacturing and sales dynamics are changing with incredible speed. Source link

Sanchez has said he is considering resigning from his position as his wife Begoña Gómez is accused of corruption. ADVERTISEMENTSpanish Prime Minister Pedro Sánchez denied corruption allegations against his wife but said he will consider resigning after the launch of a judicial investigation into accusations by a right-wing legal platform that Begoña Gomez used her position to influence business deals.Sánchez said in a letter posted on his X account that while the allegations against his wife are false, he is cancelling his public agenda until Monday when he will announce whether he will continue or step down.“I need to stop…

French lender BNP Paribas beats profit estimates for the first quarter (Q1) as expenses fell. ADVERTISEMENTOn a big week for banks with numerous lenders posting financial results, BNP Paribas updated investors too on Thursday with its latest first-quarter earnings, which beat analyst estimates.BNP Paribas said net income for Q1 was down 2.% to €3.1 billion. However, it was well ahead of the €2.48 billion that analysts polled by Bloomberg had expected. The bank said this was helped by lower than expected provisions and a decline in expenses.Overall revenue, meanwhile, fell 0.4% to €12.5 billion but topped the €12.2 billion expected…

The European Parliament has closed the last plenary session of its 9th term. ADVERTISEMENTLawmakers will now head back to their native countries to prepare for the elections in June when voters will choose the 720 members of the next legislature. For many in the Parliament, the respite will doubtless be welcomed after five years of navigating a formidable succession of global emergencies, haggling over transformative pieces of legislation and scrambling to manage PR disasters.”I would never have been able to predict both how much we managed to achieve, but also how many crises and challenges we’ve had to overcome and to handle,”…

Shares in Barclays jumped on Thursday as the UK lender swung back to profit after reporting losses in the final three months of last year amid its efforts to restructure the bank’s operations. ADVERTISEMENTThe share price of the UK banking giant Barclays surged nearly 5% after the lender reported higher than expected profits for the first three months of this year, as it carried out an ambitious plan to get back into the investors’ good books. The pre-tax profit was £2.3 billion (€2.68 billion), slightly more than the expected £2.2 billion, however, down from £2.6 billion a year ago. The group income was also slightly above…

The 27-country bloc needs to urgently rethink its defence and economic models to not fall behind its rivals, the French leader said. ADVERTISEMENTThe European model is at risk of being killed off by the US-China rivalry and the coming decade will be decisive for its survival, French President Emmanuel Macron warned on Thursday, calling on the European Union to become ever-more united and sovereign. In a 108-minute speech delivered at the Sorbonne, where seven years ago the then-newly elected leader delivered a first address on his vision for Europe, Macron repeated numerous times that “the rules of the game have changed”…

Germany’s largest lender announces €1.45 billion net income for the first three months of the year. ADVERTISEMENTDeutsche Bank has recorded a first quarter net income of €1.45 billion, 10% more than the total made during the same period last year.The figure came in above analysts’ expectations and also marks the group’s highest first-quarter profit since 2013.Net revenues, meaning earnings made before deducting expenses, grew 1% year on year to €7.8 billion, which was primarily driven by growth in commissions and fee income.Meanwhile, revenue at Deutsche Bank’s investment wing was up 13%, at €3 billion.This was boosted by a 7% increase…