Author: Euronews

Shares in Rolls-Royce Holdings climbed around 7% on Thursday morning after the company reported a pre-tax profit on surging revenue and cost savings. ADVERTISEMENTThe UK aerospace and defence company posted a pre-tax profit of £2.43 billion (around €28 bn) for 2023 compared with a pre-tax loss of £1.50 billion (around €1.7 bn) the year before. Revenue rose to £16.49 billion (around €19 bn) from £13.52 billion (around €15.7 bn), beating Visible Alpha consensus of £15.33 billion.Underlying operating profit—a key metric that strips out exceptional and other one-off items—rose by £900 million (around €1.05 bn) to £1.59 billion (around €1.8 bn). Free cash flow was around €1.5…

A range of short and medium-term actions have been identified by the EU executive to ease the administrative burden on farmers – a major cause of discontent. ADVERTISEMENTThe simplification package, sent to the Belgian EU presidency on Thursday (22 February) and seen by Euronews, is an attempt to answer the complaints of European farmers who have taken to the streets across the continent since the end of last year.The set of proposals will be discussed in an extraordinary gathering of EU agricultural ministers next Monday (26 February), a meeting outside of which farmers are planning to demonstrate.Some of the measures…

The most famous crypto yielded almost 5,000% over the last decade. ADVERTISEMENTLondon’s property market has proved to be one of the best bets for investment over the past 10 years, with a yield of more than 44%, according to a new market analysis by British estate agency Foxtons.The estate agent analysed the performance of the UK capital’s residential property market against nine other popular investment options, including Bitcoin and the FTSE 100. It found that only two investment assets have delivered higher return on investment over the past decade.  It is hard to beat the breathtaking 4,963% yield Bitcoin has seen in that 10-year…

Turkey held its key interest rate at 45% on Thursday as consumer prices rose by nearly 65% in January. ADVERTISEMENTTurkey’s central bank left its key interest rate unchanged at 45%, pausing a series of aggressive rate hikes aimed at taming high inflation in the country.The central bank said it was keeping the benchmark one-week repo rate on hold, which was the bank’s first interest rate decision under its newly appointed governor, Fatih Karahan.The move was in line with expectations the rate would be kept constant after the bank said last month that monetary tightness needed to “establish the disinflation course”…

A spokeswoman for the High Court said that Kwon’s lawyers have three days to appeal against the ruling. ADVERTISEMENTA court in Montenegro has ruled that Terraform Labs founder Do Kwon should be extradited to the United States to face fraud charges rather than to his native South Korea.Kwon, 32, was arrested nearly a year ago in Montenegro on an international arrest warrant in connection with a $40 billion (€37 billion) crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world. Both South Korea and the US have requested Kwon’s extradition from Montenegro.High Court spokeswoman Marija Rakovic said on Thursday…

President Volodymyr Zelenskyy has called on the European Commission to step in to avoid what he calls “political manipulation” of a dispute between Ukraine and Poland over agricultural imports. ADVERTISEMENTAs Polish farmers blockaded the border with their war-torn neighbour for a second week in protest over unfair competition, Zelenskyy warned Brussels that unless it intervenes, Moscow could profit from the strained relations between Kyiv and Warsaw.In a video statement published on Wednesday, Ukraine’s President directly urged Polish Prime Minister Donald Tusk to join him personally for talks on the blockaded border crossing, adding that he had also invited a representative of…

Toyota has recently recalled about 280,000 vehicles in the US, due to a transmission issue which could possibly raise the risk of crashes. ADVERTISEMENTToyota recently issued a recall for about 280,000 vehicles in the US. This was primarily due to a transmission issue which could potentially cause cars to keep moving forwards even when in neutral.The move mainly concerns 2023 and 2024 Toyota Sequoia SUVs, as well as certain Lexus LX 600 SUVs and Toyota Tundra pickups. The owners of the vehicles involved will receive notification of the recall by the end of April this year.According to the company, some…

The economic fortunes of the Eurozone’s two titans diverge: Germany faces challenges and continues to be under pressure, while France demonstrates signs of recovery. ADVERTISEMENTIt’s a mixed picture for the eurozone: while the manufacturing sector continues to shrink, the services sector is showing signs of improvement after six months of decline.The latest surveys on private sector activity in the euro area, captured by the flash Purchasing Managers’ Indices (PMIs) from Hamburg Commercial Bank (HCOB), also showed notable differences among the two largest economies: while Germany further deepens its economic contraction, France signs hopes of a recovery.The index varies between 0 and 100,…

Activists in the UK call out firms like Ferrero and Mondelez that cash in on selling unhealthy food to children. ADVERTISEMENTYouth campaign group Bite Back, founded by chef Jamie Oliver, claims that the UK food system is broken and that young people are paying the price.In their ‘Fuel Us, Don’t Fool Us’ report, released on Thursday, they name and shame big companies reliant on junk food products.According to Bite Back, Ferrero and Cadbury-owner Mondelez are the firms with the highest proportion of unhealthy items in their portfolios, with an estimated 100% and 98% of their UK sales coming from junk…

In this edition, we get up to speed on squabbles over EU laws to stop corporate human rights abuse, and create more rights for gig workers. ADVERTISEMENTThis week, we are joined by Isabelle Schömann, Deputy Secretary General of the European Trade Union Confederation, Michiel Hoogeveen, Dutch MEP from the European Conservatives & Reformists, and Martin Porter, Chair of the Cambridge Institute for Sustainability Leadership in Europe.Panellists reacted to an EU law currently being finalised that would make companies responsible for human rights abuses in their supply chain. Critics fear it will add red tape, while NGOs and trade unions say…