Author: Euronews

The ECB kept its benchmark interest rates on hold in March, noting a further decline in inflation. Price pressures are now expected to reach the 2% target by 2025. ADVERTISEMENTThe European Central Bank (ECB) maintained its benchmark interest rates during its March meeting, as widely predicted by market observers. The ECB emphasized that inflation has declined further, while reiterating its commitment to restoring price pressures to the medium-term target of 2%.In its latest decision, the ECB kept the main refinancing rate at 4.5%, which stands at its highest level in 22 years. The marginal lending rate was also held steady…

Europe’s biggest airline says 2023 provided the third-best financial result in the history of the group. ADVERTISEMENTLufthansa, Europe’s largest airline group by revenue, saw net profits more than double last year. It is planning to pay dividends again for the first time since the pandemic.The German carrier group, which also includes SWISS, Austrian Airlines, Brussels Airlines and Eurowings, described its 2023 performance as the “third-best financial result in the history of the Lufthansa Group”.The group reported a net profit of €1.67 billion for 2023 compared with €791 million on the year earlier. Revenue was up by 15% at €35.4 billion while passenger…

The Netherlands is increasingly tightening its anti-migrant position. That could push out its largest company, ASML, because of its high dependence on foreign talent. ADVERTISEMENTThe Dutch government is pulling out all the stops to entice semiconductor maker ASML to remain in the country, following the company being openly disgruntled about The Netherlands’ anti-migrant position.It has now embarked on a cross-ministry effort, named ‘Operation Beethoven’, to convince the company to continue its investments and operations in the country.ASML is the country’s biggest company, as well as being one of Europe’s largest. However, it also relies heavily on foreign employees, with about…

Loud budgeting could help savers stick to their financial goals, while increasing financial inclusion and lessening taboos around money. ADVERTISEMENTSaving money has never been more of a concern for most people, with inflation still uncomfortably high across Europe, and the cost of daily essentials rising rapidly. This has led to many having to cut back on luxuries and non-essential spending such as drinking and eating out, shopping, travel and personal care appointments.However, the social pressure to do these things may still be present in a lot of cases, especially with social media still making it seem like everyone you know is…

Gold prices hit a record high, as markets eye potential Fed rate cuts in 2024. ADVERTISEMENTGold prices touched $2,150 per ounce (€1,971 per ounce) during the trading session on Wednesday, 6 March, surpassing the previous all-time high of $2,146/oz (€1,968/oz) reached in December 2023.The precious metal has racked up a streak of seven consecutive green sessions, an event that had not occurred since August 2023.The push towards new record highs comes from the market’s growing expectations of the beginning of Federal Reserve rate cuts over the course of 2024.The latest data on the Personal Consumption Expenditures (PCE) price index –…

Ukraine’s potential accession into the European Union could have an impact of between €110 billion and €136 billion on the bloc’s seven-year budget, according to a new report by the Bruegel think tank. ADVERTISEMENTThis would represent 0.10% and 0.13% of the EU’s gross domestic product (GDP).The projection uses the existing rules and design of the 2021-2027 budget to extract a projection of how much money the war-torn nation would be entitled to after obtaining the coveted membership. Ukraine was first declared a candidate in June 2022 and was given the go-ahead for accession negotiations in December 2023.The findings exclude the…

As the norms of relationships are changing, so is the way we’re deciding to manage our money. ADVERTISEMENTWhen it comes to handling household finances, couples are increasingly choosing to keep their money apart – whether they’re married or not.According to UK data released by TSB bank, just one in eight people in a couple share all their finances with their partner, compared with two in five who keep their money entirely separate.”In decades gone by, it used to be that the man would take control of the overall finances of the family, and then the women would be in control…

The European People’s Party (EPP) on Thursday confirmed Ursula von der Leyen as its lead candidate for June’s European elections, clearing the path for her second term at the European Commission’s helm. ADVERTISEMENT”We are the party of the people and we deliver on what people care about,” Von der Leyen said as she sought the EPP party’s support at its congress in Bucharest.”Prosperity. Security. Democracy. This is what people care about in these difficult times.”Her re-election bid was approved in a secret ballot of EPP delegates, lawmakers and leaders – including the likes of Polish Prime Minister Donald Tusk and Irish Taoiseach…

If the deal does go ahead, it will be the UK’s biggest bank takeover since the 2008 financial crisis, which began with the collapse of Northern Rock. ADVERTISEMENTNationwide Building Society has surprised the banking world with an agreement to buy Virgin Money for £2.9 billion (€3.4 billion), to create the UK’s second-largest mortgage and savings group.Nationwide is the UK’s biggest building society, with nearly 18 million customers.Virgin Money is the UK’s sixth largest retail bank serving some 6.5 million customers.No plans for short-term changeNationwide says it does not plan to make any significant changes to Virgin Money’s staff over the…

In the run-up to the EU elections, former European Commission President José Manuel Barroso gave Euronews his thoughts on the green transition and the need to be competitive when it comes to technology. ADVERTISEMENTFormer European Commission President José Manuel Barroso said Europe is in “great danger” and warned the European Union must stay united.In an interview with Euronews and Euronews Romania at the European People’s Party Congress in Bucharest, Barroso said Europe has to be more competitive in technology and the green transition without putting the bloc’s industries and agriculture at a disadvantage.The former EC president made an appeal to…