Author: Euronews

Ursula von der Leyen is often hailed as the most transformational president of the European Commission since Jacques Delors. But could her legacy backfire as she seeks re-election? ADVERTISEMENTThe German politician is ready for another five years at the helm of the European Union’s most powerful institution, from which she has shaped the bloc’s policies in ways that would have been unimaginable when MEPs elected her in 2019 by a razor-thin margin.Her tenure kicked off amid a continent-wide movement of protests and strikes that thrust climate change to the very top of the agenda. It was therefore fitting that one…

Barclays stock gained nearly 5% on Tuesday morning as the bank unveiled to investors its cost-cutting and buyback plans. ADVERTISEMENTShares in Barclays climbed 4.77% on the London Stock Exchange in early trade after the bank reported its latest financial results – and announced an extensive structural overhaul.Total group income rose by 2% to £25.4 billion (€29.6 billion), although the fourth quarter contribution of £5.6 billion (€6.5 billion) was shy of the expected £5.8 billion (€6.7 billion). Net interest income (NII), meanwhile, jumped by 20% to £12.7 billion (€14.8 billion) year-over-year, with higher interest rates continuing to provide a tailwind.Pre-tax profit for…

Poland pitched on Tuesday a way out of Article 7, the European Union’s special procedure to correct rule-of-law violations. ADVERTISEMENTThe “action plan,” presented by Justice Minister Adam Bodnar during a meeting of European affairs ministers in Brussels, consists of nine bills aimed at restoring judicial independence from the country’s highest tribunal to the most ordinary courts.The overture is part of the diplomatic reset that Prime Minister Donald Tusk has spearheaded since taking office in December.”If Poland is out of this procedure, it means that we are stronger as a member state, that we might have more influence on how the European integration…

New electric passenger car sales jumped by almost 30% across Europe in the first month of 2024. ADVERTISEMENTNew electric cars’ sales rose dominantly among all the categories in January 2024 and provided 11.9% of all the passenger-car deliveries in Europe and the UK. New car registrations climbed by a total of 11.5% in the EU, EFTA and the UK markets after a 3.8% drop in December 2023. However, the entire European market, including the UK, saw a 29.3% jump in the sales of electric cars compared to January 2023, while the number of new plug-in hybrid cars grew by 24.4%, and hybrid electric…

The relatives of Israeli hostages held captive in Gaza by Hamas fear time is running out to ensure their release, after talks to broker a ceasefire and hostage deal stalled. ADVERTISEMENTSpeaking in Brussels on Tuesday, a delegation of Israeli hostages’ families pleaded with their own government, the European Union and the broader international community not to give up on their loved ones and to continue to wield their diplomatic influence to secure their liberation.It came a day after Israel said it would launch its ground offensive in Rafah unless Hamas released all remaining hostages by the start of Ramadan on…

Despite its often eye-watering prices, the restaurant group has still had to battle with surging energy bills. ADVERTISEMENTThe London-based Nusr-Et Steakhouse, commonly known as the “Salt Bae restaurant” for the viral chef from which it gets its name, boosted its profits by 44% in 2022, according to new figures.A recent filing on the UK’s Companies House – the country’s company register – showed that the steakhouse brought in £3.3 million (€3.9 million) in profit before tax two years ago, compared to £2.3 million the year before.The restaurant, part of a global empire with branches in Turkey, Greece, the US and…

European Commission President Ursula von der Leyen will soon put forward a common strategy for the EU’s defence industry, designed to strengthen military production and arms supply. ADVERTISEMENTVon der Leyen, who has just announced her intention to run for a second term, reiterated in an interview with Euronews her desire for more coordination when it comes to military spending by EU states.”We have to spend more, we have to spend better, and I think we have to spend in a more ‘European’ way to consolidate our defence industrial base,” she said.The European Union takes up armsSince the invasion of Ukraine,…

Germany’s “ongoing period of weakness” could last longer than expected, the country’s central bank is warning. ADVERTISEMENTEurope’s largest economy may have already slid into a recession, according to Germany’s central bank, the Deutsche Bundesbank. This is mainly due to a number of factors such as dampened construction activity, strikes and falling foreign demand.The news comes after the German economy saw a fall of 0.3% in the last quarter of 2023.Looking forward to expectations for the current quarter, the Bundesbank said in its monthly report that “stress factors would probably remain in the first quarter” which would mean “economic output could…

The hospitality industry is appealing to Chancellor Jeremy Hunt to do something to help businesses stay afloat. ADVERTISEMENTA quarter of businesses in the hospitality sector say they are in danger of running out of money with no cash reserves left; a further 29% have less than three months’ worth of money put by. The plea follows a survey by UKHospitality which found licensees working in pubs, hotels and restaurants and cafes looking towards the future with great uncertainty.Some 98% of them revealed they had seen food and drinks cost rise over the past year, with 96% reporting a rise in…

The world’s second-biggest economy is launching a new effort to boost a sector which provides 25% of the country’s GDP. ADVERTISEMENTChina has cut its mortgage-linked five-year loan prime rate (LPR), the country’s central bank announced Tuesday – the first time it has done so since May 2023. The five-year rate was lowered by 0.25 basis points to 3.95% while the 1-year rate remains at 3.45%. Analysts said it was the largest cut on record for that rate.The surprise cut to the five-year LPR could improve affordability for buyers by lowering mortgage rates.China’s economy, the world’s second-largest, depends heavily on the property…