Author: Euronews

With a majority of European stock markets posting a three-week losing streak, investors will be turning their attention to the manufacturing and services purchasing managers’ indices (PMIs) from major economies. Additionally, SAP and Saab AB are poised to release their first-quarter earnings. ADVERTISEMENTReflecting Wall Street’s trajectory, European stock markets declined for the third consecutive week amid prevailing risk-off sentiment. The ongoing conflict in the Middle East and a hawkish stance from the Federal Reserve (Fed) continued to weigh on equity markets, prompting investors to seek haven assets such as gold.This week, soured sentiment may continue dominating the market as leading…

In this edition, panellists reflect on the woes of the EU single market in the context of a shrinking European economy. They also zoom in on Europe’s drinking culture and give their views on taxing the rich. Source link

Oil prices rose on Friday morning with both Brent and US crude trading higher after Israel reportedly carried out a military attack on Iran. ADVERTISEMENTBoth oil benchmarks gained in early trading, initially jumping over 3% on news of explosions in Iran as the conflict continues to influence investor sentiment and drive market fluctuations.Global benchmark Brent traded 1.73% higher at $88.62 a barrel after topping $90 earlier, while US West Texas Intermediate (WTI) rose 1.75% to $84.1 per barrel.“Oil prices were briefly above $90 per barrel before easing while gold moved within touching distance of all-time highs. A combination of chip…

Global markets are poised for a third consecutive weekly decline as tensions rise in the Middle East. Investors are flocking to safe-haven assets, especially gold and silver, amplifying their surge as a safety destination. ADVERTISEMENTGlobal stock markets are on track for their third consecutive week of decline amidst escalating tensions in the Middle East conflict. Reports of explosions in Iran have further fuelled concerns, deepening losses across major world benchmark indices. As risk aversion sentiment prevails, investors are flocking to traditional safe-haven assets such as gold, silver, government bonds, and the US dollar. The Japanese Yen and the Swiss Franc have…

In March, car sales in the EU registered a decline with consumer behaviour trends shifting. ADVERTISEMENTNot only have electric cars been affected, but car sales in the EU witnessed a 5.2% drop compared to last year in March, marking the largest decline since July 2022 and the first for this year, as reported by the European Automobile Manufacturers’ Association (ACEA).The decline involved key markets, including Germany (-6.2%), Spain (-4.7%), Italy (-3.7%), and France (-1.5%). The fall has been attributed to a downturn in the market and the timing of the Easter holidays which had a negative impact on sales. In March,…

Latest developments in the Middle East raise concerns about a potential broader conflict and its global economic ramifications. Key worries for Europe include whether escalating energy prices might influence the European Central Bank’s (ECB) decision-making regarding a planned rate cut in June. ADVERTISEMENTLess than a week after Iranian aerial attacks on Israel, the latter retaliated by striking some military targets in Iran overnight.The attack was described as ‘limited,’ with no significant damage or casualties reported. However, this development surprised the markets, especially following extensive diplomatic efforts by the United States and its European allies to prevent further tensions in the…

The president of the European Council hopes Friday’s apparent Israeli retaliation will be the last in the recent escalation with Iran and believes the next “hours and days” will be critical. ADVERTISEMENTCharles Michel spoke exclusively to Euronews hours after Iran activated its air defences near the central city of Isfahan as it was targeted by a suspected retaliatory attack by Israel, fuelling again fears of a wider regional conflict.It came just six days after Iran launched a barrage of some 300 drones and cruise and ballistic missiles in its first-ever direct attack against Israeli territory. This happened on the heels of…

Analysis reveals huge disparities in labour income share in GDP among European countries. Falling shares are likely to raise income inequality. ADVERTISEMENTThe labour income share in Gross Domestic Product (GDP) presents a downward trend in Europe. This means that workers are getting a smaller slice of the cake. Falling labour shares are frequently associated with rises in income inequality as capital tends to be concentrated at the upper ends of income distribution.Defined by the International Labour Organisation (ILO), the labour income share in GDP is the ratio, in percentage, between total labour income and GDP, both provided in nominal terms.…

The European Union has doubled down on its criticism of the “foreign influence” law proposed by the Georgian government, which critics say will be exploited to silence independent voices. ADVERTISEMENT”I want to be clear: this bill voted in the parliament – this is not bringing Georgia closer to the EU. This is the opposite,” Charles Michel, the president of the European Council, told Euronews on Friday morning.”We are disappointed that this government made such a decision,” he added.Georgia was in December declared an official candidate to join the bloc, fulfilling the former Soviet republic’s long-running aspiration. The decision was “fundamental,”…

Rishi Sunak wants to strip family doctors of their power to sign people off work as part of a plan to tackle what he calls the UK “sick note” culture. His comments have sparked anger among unions and health charities. ADVERTISEMENTRich Sunak’s comments come as the percentage of employed working-age Britons is at its lowest point since 2015, reportedly due to a surge in people on long-term sick leave as well as an increase in the number of students. By comparison, other major wealthy nations have experienced a rise in employment since 2020.Now, PM Rishi Sunak has revealed plans to…