Author: Euronews

An ongoing investigation targets a Cypriot brokerage firm, in collaboration with one of BNP Paribas’ branches, over alleged ‘aggravated money laundering.’ ADVERTISEMENTSuspicious investments, managed by French bank BNP Paribas’s branch, on behalf of a Cypriot brokerage firm, are under investigation by French and American authorities for alleged ‘aggravated money laundering,’ French daily Le Monde has reported.The suspicious financial flows, reportedly more than €220 million, were made between 2019 and 2021. During that period, T.C.R. International Limited, a financial services company registered in Cyprus, conducted investment transactions for its clients in partnership with BNP Paribas Securities Services.The Paris prosecutor’s office said in a statement, that the transfers were…

Euronews Business looks at how luxury stocks such as Hermès and Kering did throughout the year. ADVERTISEMENTLuxury stocks have been quite mixed this year, with decent performances at the start, but hiccups towards the middle and end. This was mainly due to the increased cost of living and soaring inflation in several European countries eroding away disposable income. The customary holiday and Christmas surge in sales has also not come in as expected.Consumers have been moving towards more practical and moderately priced goods in an attempt to save a few extra pennies. Second-hand and more sustainable gifting practices have also contributed…

From disinformation to rows with Ukraine, Euronews Business looks at all the controversies that billionaire Elon Musk has been caught up in this year. ADVERTISEMENTElon Musk has found himself in more than his fair share of controversies, ever since the takeover of social media platform Twitter, now dubbed X. The acquisition was completed in the tail end of 2022.Since then, Musk has been heavily criticised for reinstating accounts which have long been considered problematic by users, such as former US President Donald Trump’s, in the name of free speech. Trump had previously been banned by Twitter due to his incitement of…

Which countries attract and retain more talent, and how will the talent acquisition landscape change in the next 10 years? Euronews Business takes a look. ADVERTISEMENTSwitzerland, Singapore, and the United States are in prominent positions in attracting and nurturing talent, according to the Global Talent Competitiveness Index (GTCI) 2023.The top 10 also feature Denmark, the Netherlands, Finland, Norway, Australia, Sweden, and the United Kingdom, with 17 European countries in the top 25.Some of the European countries sliding down in the ranking significantly over the last decade are the United Kingdom, Luxembourg, and Iceland, while Australia and Norway have shown strong…

Justin Bieber, Selena Gomez, Richard Branson… All these stars seem to have something to say about Ukraine. Turns out darker forces are at work. ADVERTISEMENT“It’s frustrating to see how Ukraine uses our aid. Someone seriously needs to put a stop to this,” reads a quote in French and German next to a photo of star footballer Cristiano Ronaldo. “I want to ask why the Ukrainian First Lady Olena Zelenska is buying $1 million worth of Cartier jewellery when her husband is asking the US for money for the war,” reads another quote implying it was said by US talk show host…

A substantial rise in the Turkish minimum wage before the mayoral elections will offer relief to households but also present challenges in managing inflation. ADVERTISEMENTTurkey’s government will raise the minimum wage by almost half to ₺17,002 (€520) per month next year, to compensate for the skyrocketing inflation in the country, some 62% in November 2023. The sharp increase aims to help with the high cost of living and might appeal to voters before the nationwide municipal elections of March 2024.The hike is twice the rate at the beginning of this year and marks a 49% rise from the adjustment made mid-year.…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. How can one ban fishing products from forced labour without being able to identify the vessels’ legal owners and the individuals who ultimately benefit from these offences, Matti Kohonen writes. ADVERTISEMENTAn estimated 128,000 fishers suffer horrific forced labour abuses onboard fishing vessels every year, a figure that likely significantly understates the full extent of this crisis. Abuses include physical violence, unpaid wages and having to spend years at sea, according to the International Labour Organization (ILO).A recent report found…

Amazon Prime Video is introducing ads next year, and it’s not the only one. Euronews Business explores why more streaming companies are adopting this strategy. ADVERTISEMENTAmazon’s Prime Video streaming service is set to introduce “limited advertisements” in films and TV shows starting from the end of January. If customers want to keep ad-free viewing, the company says they can but they will have to pay more. Europe will see the UK and Germany first in line for the scheme, with advertising starting as early as the first week of February. France, Italy, and Spain will follow later in the year. The move…

Romania and Bulgaria have struck an agreement with Austria to partially join Europe’s borderless Schengen travel zone by March 2024, Bucharest and Sofia have confirmed. ADVERTISEMENTThe political agreement will allow Romania and Bulgaria to join the Schengen zone by air and sea only, with further negotiations to follow on land borders, the Romanian interior ministry said Wednesday.Austria had been blocking both countries’ accession to Schengen over concerns it could lead to an influx in irregular migrant arrivals in Europe via the Turkish and Western Balkan routes.There are 27 countries currently in the Schengen area, 23 of them European Union states, and…

The festive period is a notorious strain on the purse strings, but in some European countries, employers are legally obliged to dish out bonuses. ADVERTISEMENTThe 13th month is a tradition that began in the Philippines in the 1970s and has since spread across the globe.In order to reward employees for their year’s work, as well as to help with festive expenses, bosses began to offer an extra paycheck in December, which was equivalent to one month’s salary.Fast-forward 50 years, and the 13th month bonus has now become a legal requirement in many Latin American countries, where it’s known as an…