The Commerzbank building (second from right) in Frankfurt am Main, western Germany, on Sept. 25, 2023. Kirill Kudryavtsev | Afp | Getty Images UniCredit‘s move to take a stake in German lender Commerzbank is raising questions on whether a long awaited cross-border merger could spur more acquisitions and shake up the European banking sector. Last … Read more
Oscar Wong | Moment | Getty Images Companies could face hefty fines or even suspensions of service in the European Union under strict new cybersecurity regulations set to come into force next month. The EU’s NIS 2 cybersecurity directive will on Oct. 17 become enforceable by member states. That means firms will have to ensure … Read more
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China’s CSI 300 stock index, which just had its best week since 2008 , could rise 10% in the near term, according to Morgan Stanley’s Laura Wang. The CSI 300, which tracks major stocks on the Shanghai and Shenzhen exchanges, on Friday closed at 3,703.68 points, up 15.7% for the week. Wang, chief China equity … Read more
Rebel groups have rejected a peace offer from Myanmar’s embattled junta, which is reeling from battlefield losses and defections in a civil war that has dragged on for more than three years. This is dictatorship’s first such outreach since it seized power in 2021. It also comes after a ceasefire brokered by China in the … Read more
Hurricane Helene is one of the biggest ever storms to hit the US Gulf Coast, with wind gust speeds of 140 mph (225 km/h). Florida’s Lee County Sheriff’s office shared footage of its rescue efforts, as flooding trapped some residents in their homes and vehicles. The storm has now swept into Georgia and been downgraded … Read more
An employee does final inspections on a Mercedes-Benz C-Class at the Mercedes-Benz US International factory in Vance, Alabama. Andrew Caballero-Reynolds | AFP | Getty Images Mercedes shares fell more than 6% Friday after becoming the latest carmaker to cut its guidance this year as sluggish demand in China and trade disputes weigh on the sector. … Read more
Britain’s Finance Minister Rachel Reeves has pledged to make the “necessary”, “urgent” and “incredibly tough” choices to restore the country’s economic stability. Pool | Getty Images News | Getty Images Finance minister Rachel Reeves will promise Britain on Monday there will be no return to “austerity” or widespread spending cuts despite previous warnings of a … Read more
Krisztian Bocsi | Bloomberg | Getty Images LONDON — European markets were slightly higher Friday as investors weighed the region’s economic outlook and assessed fresh data. The pan-European Stoxx 600 was 0.17% higher at around 9:25 a.m. London time, with most sectors and major bourses in positive territory. Autos stocks led the gains, up 1.6%, … Read more
People walk along the Huguosi street, Xicheng district, a dedicated food street in Beijing on August 23, 2024. Adek Berry | AFP | Getty Images SINGAPORE — Following a slew of data released over the weekend from China that painted a fairly bleak outlook for its economy, analysts have tapered their expectations for the country’s … Read more