Author: Euronews

An economy is widely considered to enter a technical recession following two consecutive quarters of negative economic growth, which is usually measured by GDP. ADVERTISEMENTThe UK economy entered a technical recession in the fourth quarter of 2023, according to official figures from the Office for National Statistics, as UK households cut back on spending in response to soaring prices.The quarter-on-quarter gross domestic product (GDP) report for Q4 2023 clocked in at -0.3%, worse than last quarter’s -0.1%. This was also a step down from analyst forecasts of -0.1%The year-on-year GDP growth rate for Q4 2023 was -0.2%, also down from…

Some social media users are falsely claiming the two recently freed hostages were rescued in December. Certain users accused Israel of using the ‘liberation’ to justify the country’s attack on Rafah, southern Gaza. ADVERTISEMENTTwo men taken captive by Hamas on 7 October were rescued on Monday by the Israeli military. During the early-morning raid, Israel carried out airstrikes that the Hamas-run Health Ministry said killed around 100 people in the southern city of Rafah in Gaza. The two men, Louis Har and Fernando Marman had been kidnapped in the kibbutz of Nir Yitzak and had spent 128 days in captivity.However, according to…

The EU’s economy entered 2024 with subdued momentum. The European Commission downgraded its growth forecast to 0.9% for the EU and 0.8% for the euro area. Yet while inflation rates are expected to decline more than previously predicted, challenges remain. ADVERTISEMENTFollowing a narrow escape from recession in late 2023, the European Union’s economy has entered 2024 with less vigour than anticipated, as confirmed by the European Commission in its latest Winter Economic Forecast.The new projections highlight a downgraded growth outlook for the year, now expected at a modest 0.9% in the EU, a decrease from the previously expected 1.3%, with…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. Every level of German society recognises this law is a key step towards a fairer and more sustainable world. It is unpopular with one party, run by a man who seems to be attempting to force his way into political relevance by creating needless controversy, Luisa Neubauer writes. ADVERTISEMENTIn December, European policymakers from across the political spectrum agreed to help stop some of the world’s worst abuses — like child labour — through a game-changing law that businesses and…

The head of the European Central Bank noted that, while economic activity will still be sluggish in the near future, data suggests things will pick up later on in 2024. ADVERTISEMENTThe eurozone will still have to do battle with gloomy economic activity in the near term, following on from a weak 2023 which saw GDP growth stagnate in the final quarter, the head of the European Central Bank (ECB) has said.Speaking at an economic committee hearing at the European Parliament on Thursday, Christine Lagarde said that the weak economy couldn’t be pinpointed to a single sector, as activity has been…

The impasse in the US Congress over new assistance to Ukraine “has already had consequences” on the battlefield, Jens Stoltenberg has warned. ADVERTISEMENT”It is impacting the flow of support,” the NATO Secretary General said on Wednesday afternoon after a two-day meeting of defence ministers in Brussels.”To some extent, this can be compensated by increased support from other allies. And European allies and Canada are stepping up, are doing more. If we put together the military, the economic and the humanitarian support, actually Canada and European allies are providing more support than the United States,” he went on.”But the United States being…

Euronews business breaks down the latest inflation figures from Spain, Poland, Greece, and Ireland. ADVERTISEMENTInflation in Spain climbed as it saw consumer prices rising by 3.4% year-on-year amid economic uncertainties.This was in contrast to some other EU countries where inflation figures slipped. The Republic of Ireland experienced a slight fall in its annual inflation rate, while Greece saw a decline in January inflation compared with December 2023, and Poland saw a notable drop in its yearly inflation rate from December 2023 to January 2024.Euronews Business breaks down the latest figures. Spain consumer prices increaseConsumer prices in Spain rose in January, up…

Israel published, then deleted, a controversial video in which it claims it is not blocking aid deliveries to Gaza. Euronews’ Sophia Khatsenkova investigates. ADVERTISEMENTIsrael published a video on its X (formerly Twitter) account in early February promoting its efforts to ensure humanitarian aid reaches the besieged Gaza Strip, in a bid to dispel claims it has been actively blocking deliveries.However, some social media users quickly denounced Israel for disinformation, claiming many of the images used in the video are unrelated to the current conflict.The video, seen below, claims to show the aid provided to Gazans in the four months since…

Eurozone imports and exports declined in December 2023, according to first estimate data released by Eurostat on Thursday. Euronews Business summarises the data and findings. ADVERTISEMENTThe first estimate figures for euro area exports of goods to the rest of the world in December 2023 was €218.7 billion, a decrease of 8.8% compared with December 2022 (€239.9 bn). Imports from the rest of the world, meanwhile, stood at €201.9 billion, a fall of 18.7% compared with December 2022 (€248.3 bn).As a result, the euro area recorded a €16.8 billion surplus in trade in goods with the rest of the world in December…

Latvia’s defence minister Andris Sprūds said the coalition would set a goal of delivering a million drones to Ukraine. ADVERTISEMENTThe UK and Latvia are spearheading a “capability coalition” to provide Ukraine with up to a million battlefield drones to bolster its war efforts.In a statement released Thursday, the UK government said the coalition would “scale up and streamline” the supply of drones, including first-person view (FPV) drones – the cheap airborne weapons that have become a vital tool in Ukraine’s efforts to push back Russia’s invasion.The scale-up of drone supply will provide Ukrainian forces with better situational awareness to target…