Author: Euronews

The winner of the trophy was chosen by a jury of 59 motoring journalists from 22 European countries. ADVERTISEMENTThe Renault Scenic E-Tech has scooped the prestigious award for Car of the Year 2024, beating BMW and Peugeot to the top spot with a total of 329 points. The winner was revealed at the opening of the Geneva Motor Show, which returned to the international arena following four years of absence. The French electric SUV was in competition with the BMW 5 Series and Peugeot 3008, which scooped the second and third places respectively, leaving behind the four models of BYD Seal, Kia EV9,…

Major economies are releasing their manufacturing PMI and CMI data for February this week, as they continue to grapple with inflation. ADVERTISEMENTThe NVIDIA-led tech rally has sent both the US and the European markets to their all-time highs, sparking concerns about the sustainability of the market rally and prompting some cautious indicators worth noting.Firstly, the Fear & Greed Index, which tracks stock market movements and determines if stocks are priced fairly, has surged into the Extreme Greed zone, suggesting the market might be overbought.Secondly, global government bond yields climbed significantly, implying central banks may not start interest rate cuts as…

Elmer van Buuren, CEO of a European night train firm, explains how he made his business dream a reality through community funding. ADVERTISEMENTWhen Elmer van Buuren’s start-up crowdfunder raised €500,000 in 15 minutes, he thought his website was broken.To his delight, it wasn’t – and two and a half years later, his donation pot has grown to €4.5 million.All of this money is going towards Elmer’s night train firm, ‘European Sleeper’, which runs overnight rail journeys across the continent.“I had always dreamt of having my own train company,” Elmer says. “This idea had been boiling inside for 25 years.”“And I…

Baier, the current party chairman with little European experience, was the only contender. He was elected in a closed assembly in Slovenia. ADVERTISEMENTThe European Left on Saturday elected Austrian Walter Baier as their spitzenkandidat or pick to lead the European Commission following the elections in June.Baier, 70, who hails from the Austrian communist party, has been the group’s president since December 2022 but had, until then, little experience in European politics.He defended his lack of European credentials at the group’s meeting in Ljubljana, Slovenia, on Saturday, telling reporters that “frankly speaking, Europe is not just Brussels.””Europe is 27 nations and hundreds…

Ursula von der Leyen’s bid for re-election, sanctions against Russia and the Rafah crisis are the topics in our weekly round-up of European politics. ADVERTISEMENTUrsula von der Leyen will run for re-election and said this week that she is excited about the possibility of a second term as President of the European Commission. An excitement shared by the European People’s Party (EPP), given the notoriety she has gained in the EU and the rest of the world. Another highlight of this week was the approval of the 13th package of sanctions against Russia over its invasion of Ukraine launched two years…

Farmers across the EU argue the bloc’s environmental regulations, including initiatives like the Green Deal, hamper their operations and render their products less competitive against non-EU products. ADVERTISEMENTFrench President Emmanuel Macron was on Saturday welcomed at the annual Agricultural Fair by angry farmers calling for more government support and simplified regulations.During talks on-site with farmers’ representatives, Macron stressed that resolving this crisis would not happen quickly and highlighted the fair as a crucial moment for farmers, who have invested a lot of effort to showcase their animals and products. The annual fair opens a day after frustrated farmers returned to Paris with their tractors…

In the tumultuous Balkans, even matters of currency are transformed into instruments of political dispute. Which side will come on top in the current standoff between the euro and the Serbian dinar in Kosovo? ADVERTISEMENTAs news came out of Pristina in late January on the introduction of the euro as the legal tender throughout Kosovo, many were left puzzled. Clearly, the issue at hand is not exclusively a financial matter. It’s part of a broader context. Following a NATO intervention against Belgrade in 1999 and years of international presence, Kosovo adopted the euro as its official currency unilaterally back in 2002. However, due…

Euronews Business rounds-up the week’s market action as investors digest the week’s earnings and economic data. ADVERTISEMENTAt the time of writing, the FTSE 100, France’s CAC 40 and Germany’s Dax were all mainly higher after Nvidia delivered stunning results this week, setting off a rally in other technology companies that carried Wall Street to another record high.Nvidia results sets off stock rallyNvidia’s stock price surged on Thursday after delivering another blowout quarter, setting off a rally in other technology companies that carried Wall Street to another record high.The chipmaker, which soared 16.4%, reported scorching demand for its semiconductors. Its stock has…

On the two year anniversary of the Russia-Ukraine war, Euronews Business looks at how Russian businesses have done in the face of various international sanctions. ADVERTISEMENT24 February 2024 marks the two-year anniversary of Russia’s invasion of Ukraine. Back in February 2022, in a move that shocked the international community, Russia launched its special military operation against Ukraine.According to November 2023 data by the United Nations Human Rights Monitoring Mission in Ukraine, at least 10,000 civilians, including 560 children have been killed in Ukraine, since the invasion began. Russia, on the other hand, is estimated to have lost upwards of 300,000…

Germany saw a fall in gross domestic product in the last quarter of 2023, following two back-to-back quarters of stagnation. ADVERTISEMENTGermany’s quarter-on-quarter gross domestic product (GDP) report for Q4 2023 was released on Thursday morning. Europe’s largest economy saw a decline of 0.3% in the last quarter of 2023, according to the Federal Statistical Office. This was in line with analyst expectations.In the third quarter of 2023, Germany’s GDP contracted -0.1%. Due to the fourth quarter of the year also seeing a contraction, Germany could potentially be in technical recession, which is widely defined as two consecutive quarters of negative…