By Balazs Koranyi FRANKFURT (Reuters) – It was meant to be Europe’s stellar year. A post-pandemic spending euphoria, supported by copious government spending was set to drive the economy and help fatigued households regain a sense of normality after two dreadful years. But all that changed on Feb. 24 with Russia’s invasion of Ukraine. Normality…
THE HAGUE, Netherlands (AP) — Dutch Prime Minister Mark Rutte said Tuesday that members of his Cabinet have enough confidence in each other to keep working together as lawmakers broke into their summer vacations to debate the government’s contentious plans to slash nitrogen emissions that have sparked angry protests by farmers. The debate was called…
GENEVA (Reuters) – The World Trade Organization said on Tuesday that its global goods barometer was stable, pointing to stagnant global trade growth following a COVID-19 triggered slowdown. The Geneva-based body said its goods trade barometer was steady at 100 points, as the drag of the Russia-Ukraine conflict is offset by the relaxation of pandemic…
Twitter’s former head of security alleged that the company misled regulators about its poor cybersecurity defenses and its negligence in attempting to root out fake accounts that spread disinformation, according to a whistleblower complaint filed with U.S. officials. The revelation could create serious legal and financial problems for the social media platform, which is currently…
The euro has fallen below parity with the dollar, diving to its lowest level in 20 years and ending a one-to-one exchange rate with the U.S. currency. It’s a psychological barrier in the markets. But psychology is important, and the euro’s slide underlines the foreboding in the 19 European countries using the currency as they…
WASHINGTON (Reuters) – The United States has added seven China-related entities, mostly related to aerospace, to its export control list, citing national security and foreign policy concerns, according to a U.S. Commerce Department notice published online on Tuesday. According to a notification posted to the Federal Register, China Aerospace Science and Technology Corporation 9th Academy…
(Reuters) – Intel Corp and Canada’s Brookfield Asset Management on Tuesday agreed to jointly fund up to $30 billion for the U.S. chipmaker’s leading-edge chip factories in Arizona. The move comes after U.S. President Joe Biden earlier this month signed the CHIPS and Science Act into law, which included provision of $52.7 billion in subsidies…
BEIJING (AP) — One of the world’s few rare earths processors outside China has bought exploration rights to mine in Greenland, opening an avenue for diversifying supplies of the minerals critical for advanced and green technologies. Rare earths are a group of minerals used in the manufacture of electric vehicles, wind turbines, electronics, robots and…
By Dhara Ranasinghe LONDON (Reuters) – The euro fell to a fresh two-decade low on Tuesday, dealt a fresh blow by renewed concern that an energy shock will keep inflation elevated and makes a recession in Europe all but certain. China’s yuan meanwhile weakened to a two-year low and sterling briefly touched its weakest since…
BERLIN (AP) — Germany’s natural gas storage facilities are now more than 80% full, showing steady progress despite a drastic reduction in deliveries from Russia amid the war in Ukraine. Gas storage in Europe’s biggest economy has reached 80.14% of capacity, according to industry figures released Tuesday. The head of Germany’s network regulator, Klaus Mueller,…
