The European Union has successfully avoided the "terrible prophecies" that threatened its economy in recent years, but must still contend with Russia's war in Ukraine and a tenuous trade relationship with China, outgoing European Commissioner for Economy Paolo Gentiloni said Saturday.The bloc's economy underwent "overall a weak growth, but...
Aaron P | Bauer-Griffin | GC Images | Getty ImagesEurope's largest lender HSBC posted a narrow decline in pretax profit in the first half of the year, but beat expectations on the back of a high-interest rate environment.The bank posted pretax profit in the six months to June of...
Bank of Santander HeadquartersGetty ImagesBanco Santander posted a 20% year-on-year hike in second-quarter net profit underpinned by growth in its retail, wealth and consumer activity, after firm revenues and margin management in Europe and Brazil.The company's net profit attributable to the parent group came in at 3.207 billion euros...
BARCELONA, SPAIN - FEBRUARY 26: A logo sits illuminated at the Nokia booth in the Mobile World Congress 2024 on February 26, 2024 in Barcelona, Spain. (Photo by Xavi Torrent/Getty Images)Xavi Torrent | Getty Images News | Getty ImagesShares of Finnish telecom firm Nokia tumbled on Thursday after the...
A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. Denis Balibouse | ReutersThe Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary...
Salvage crews continue to work on removing debris from the Francis Scott Key Bridge collapse after it was struck by the container ship Dali, now docked at Seagirt Marine Terminal in Baltimore. (Jerry Jackson/Baltimore Sun/Tribune News Service via Getty Images)Jerry Jackson | Baltimore Sun | Getty ImagesThe main passageway...
Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022.Bloomberg | Bloomberg | Getty ImagesThe prominent OPEC+ oil producers' alliance is awaiting concrete central bank action on interest rates before factoring in the potential impact on the energy demand landscape, according to Saudi Arabia's energy minister."Central banks, with all...
The Swiss national flag hangs from the Federal Palace, Switzerland's parliament building, in Bern, Switzerland, on Thursday, Dec. 13, 2018. The Swiss National Bank cut its inflation forecast and showed no inclination of moving off its crisis-era settings, citing the francs strength and mounting global risks. Photographer: Stefan Wermuth/Bloomberg via Getty...
BEIJNG, CHINA - NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images)Vcg | Visual China Group | Getty ImagesDeflation may soon start biting into Chinese growth, as Beijing looks at another three...
Cityscape of Saudi capital Riyadh.Harri Jarvelainen Photography | Moment | Getty ImagesSaudi Arabia's economy slowed in the second quarter, as crude output cuts and a drop in oil prices reined in one of the fastest growing nations of the G20.Riyadh's GDP expanded by an annual 1.1% in the second...