Finance news

Industry: Expensive energy continues to drive up producer prices in the euro area

The Iran conflict is driving up energy costs and thus producer prices in the euro area. Economists warn of further price pressure.

Energy prices: Expensive energy continues to drive up producer prices in the euro area

Producer prices in the euro zone rose surprisingly in May - by 5.9 percent, driven primarily by energy prices. There does not appear to be any relief in the situation in sight.

Purchase with annuity - only 75,000 euros down payment

I wanted to present this gem to you here: https://www.immobilienscout24.de/expose/168787286?referrer=HYBRID_VIEW_LISTING&searchId=749b99e9-c456-3a07-945b-f5b9302fa891&searchType=radius#/ Td;dr: "Buy" a house for 75k initially, then 3.1k monthly with a 3% growing rate over a maximum of 16 years. You can't use the house because the former owners continue to live there. Benefit: You take care of the house as if it were your own. What do you experts think about this? submitted by /u/NuGGet4

IM5 and IM6: MG wants to move into the business class

So far, the SAIC brand in Europe has primarily focused on affordable small and compact cars. That should change with two new models. The premium offensive is scheduled to start in the fall.

Global investors pivot from access to scale in yuan operations, anchored by Hong Kong

Global institutional investors are pivoting away from basic market entry to scaling up their yuan operations, with offshore hubs such as Hong Kong emerging as the central infrastructure for that shift, a new survey showed. The survey, conducted by HSBC and polling more than 120 institutional investors collectively managing over US$32 trillion in assets across 12 Asia-Pacific markets, found that 63 per cent preferred offshore yuan markets for currency transactions, while 54 per cent relied on...

More European Investors Oppose Norway’s Push for Arctic Oil Drilling

Six more financial institutions from Northwestern Europe have voiced their opposition to plans by Norway to pursue Arctic oil drilling in a bid to boost Europe’s supply security. According to the opponents, energy transition efforts should take priority. The new opponents include Swedbank Robur Fonder AB, Sarasin & Partners LLP, French pension fund Ircantec, British West Yorkshire Pension Fund, Irish KBI Global Investors, and Swedish bank and pension fund Länsförsäkringar AB, Bloomberg reported.

Nikkei, Yen, Hang Seng: Asian stock exchanges close inconsistently

While the Japanese Topix rose, the Korean Kospi fell. Some stocks benefited from falling oil prices. Investors are also eagerly awaiting an announcement from Canada.

Aviation: Fifth offer from US investor – Easyjet gives up resistance

After much hesitation, Easyjet accepts the revised takeover offer from US investor Castlelake – at a price of over six billion euros.

SK Hynix: Chip manufacturer wants to raise $28 billion from US secondary listing

The South Korean chipmaker is targeting the world's second-largest IPO after SpaceX, according to an official document. The company wants to use the income for expansion.

Frugal, childless Chinese couple who split US$2.5 meals leave US$735,000 to sick children

A late childless couple in China donated five million yuan (US$735,000) to help 455 children with congenital heart disease, despite living an extremely frugal life themselves. The couple’s story was revealed at a charity exhibition late last month in Shanghai, according to the news website The Paper. Du Yingrong passed away in 2018 at the age of 81, while his wife, Lu Suying, died last year at the age of 92. Before their deaths, Du was a retired teacher, and Lu was a retired doctor from the same

Internal market: Brussels delivers, Berlin slows down

The EU Commission is finally pushing ahead with the internal market and reducing bureaucracy - and then states and parliament are slowing down. Ursula von der Leyen has to put pressure on now.

'NATO 3.0': Defense spending pledges face the Trump test

Leaders are expected to focus on whether Europe can turn higher defense spending into military power as Washington pushes allies to shoulder more of the burden.

Noted scientists leave US for China, America turns 250: 5 weekend reads you missed

We have put together stories from our coverage last weekend to help you stay informed about news across Asia and beyond. If you would like to see more of our reporting, please consider subscribing. 1. Noted neurobiologist and ex-taekwondo captain Chih-Ying Su leaves US for China Celebrated neurobiologist Chih-Ying Su, who specialises in research on the sense of smell using fruit flies and mosquitoes, has left her position as faculty vice-chair at the University of California San Diego to join...

Nikkei, Yen, Hang Seng: Chip values ​​boost Asia's stock markets - Nikkei is weakening

Hopes for strong US quarterly figures, falling oil prices and the ongoing AI boom created a buying mood - technology stocks in South Korea in particular rose sharply.

China restaurant sparks debate after selling simple tomato scrambled egg dish for US$75

A Shanghai restaurant has captured attention on mainland Chinese social media for launching a special dish of stir-fried tomato and scrambled eggs at an exorbitant price of 520 yuan (US$75), triggering a heated discussion. The dish itself is among the most common, affordable household food items in the country, containing ordinary ingredients – tomatoes and eggs. But the dish served at Jinlong Dabianlu Restaurant in Hongkou district in downtown Shanghai is sold at 520 yuan, dozens of times more.

South Korean won holds steady as historic 24-hour trading begins

The South Korean won was stable against the dollar after inching higher as the currency began its first day of 24-hour trading, marking a milestone in Seoul’s push to open its financial markets to global investors. The won eased 0.1 per cent to 1,531.40 against the US dollar, after rising as much as 0.2 per cent when it started trading at 6am. Other major currency pairs were little changed. The launch of 24-hour trading is the centrepiece of a years-long effort to improve foreign access to local

Can China’s budget brands crack developed markets? Mixue shows it won’t be easy

Three months after moving from China to Japan, Alisa Lin has yet to buy a single drink from Mixue – the Chinese ice cream and tea giant – despite being a frequent customer back home, where a cup costs under five yuan (73 US cents) during promotions. “It’s not a very popular brand here. Only one of my friends in Japan has ever bought it,” Lin said, adding that value for money was the main consideration behind her own consumer choices in Tokyo. While Mixue’s basic teas are cheap, a plain bubble...

Where is the best place to exchange dollars for euros (in Germany)?

I get hundreds of dollars in tips every month from my part-time job. Since I won't be traveling to the USA or other countries where you pay in dollars for the foreseeable future because of having children, I would like to regularly exchange the money into euros. Where can you get the best rates for changing cash in Germany? Just go to the local savings bank? Exchange office? Somewhere else? submitted by /u/fscge [link] [comments]

A new European security architecture is needed to end war in Ukraine

Business ticker: According to a media report, Porsche is cutting another 4,000 jobs

Porsche spokesman did not want to confirm the specific number of jobs in response to a dpa request +++ Uber apparently stops expansion of food delivery service in Europe +++ Airports criticize waiting times due to new border controls +++ News in the company live blog.

Car company in crisis: This time the VW boss is going all out

Oliver Blume is planning the most severe austerity program in the history of Europe's largest car company. Next week the fronts will collide.

Jewellery worth millions of euros stolen in French museum burglary

Burglars stole millions of euros’ worth of jewellery from the museum of French luxury glassmaker Lalique in a daring early-morning raid on Sunday, just months after a stunning gem robbery at the Louvre in Paris. A gang of masked thieves broke in to the museum in Wingen-sur-Moder in northeastern France at around 5.30am local time, forcing a door before heading for the jewellery room and smashing open six display cases, a source close to the investigation told Agence France-Presse. “Around 20...

Ahead of NATO summit: US official: takeover of Greenland currently “only solution”

Trump shocked his European allies with blatant claims of ownership of Greenland. However, he refrained from taking over by force. But the USA still likes the basic idea.

Aviation: Takeover offer from US investor – Easyjet agrees “in principle”.

Easyjet resisted the takeover for a long time, but now the price seems to be right. The low-cost airline is valued at over six billion euros.

Europe's Hottest June on Record Traced to Climate Change

Many countries across Europe have experienced the hottest June on record, as heatwaves sweep the region. Countries in Northern Europe that are not used to weeks of 30°C-plus heat are suffering due to a lack of air conditioning and buildings ill-prepared for such heat. Over 1,300 people died during the June heatwaves, according to the World Health Organisation (WHO), demonstrating the severity of the issue. Now, a recent study shows that climate change, as suspected, is to blame for the high temp

Why the Indo-Pacific might be on the back burner at the Nato summit

Nato’s 32 member states will convene in the Turkish capital this week for an annual summit expected to be dominated by efforts to secure a fragile peace in Ukraine and the Middle East, with Indo-Pacific issues taking a back seat. Analysts said the conflicts in Ukraine and Iran, as well as Washington’s push for European allies to raise defence spending, could diminish discussion about the security alliance’s cooperation with Indo-Pacific partners, despite the Nato chief’s warnings about China’s..

Weekly Gold Outlook: Key Macro Events That Could Move Gold This Week

I put together this week's macro outlook focusing on gold, central bank policy, global liquidity and the economic calendar. Main topics: • Fed speakers • Japan election implications • ECB decision • Gold drivers • Dollar liquidity I'd genuinely appreciate any feedback from the community. submitted by /u/rahsady [link] [comments]

Capital market: Comeback of the rainmakers – why business for investment banks is suddenly booming again

Major mergers and stock issues drive sales. However, the dominance of US banks in this country remains unbroken - Europe's financial institutions can only score points in one area.

Berkshire Hathaway’s multibillion-dollar buy of Taylor Morrison to boost US housing market

Berkshire Hathaway’s all-cash acquisition of home builder Taylor Morrison for US$6.8 billion is likely to trigger more investment in the US housing market, as institutional confidence in the segment encourages more home purchases in the world’s largest economy by local and overseas buyers, according to analysts. The US-based conglomerate made the investment in May, deepening its bet on the US residential property market. It marked the first multibillion-dollar acquisition under CEO and president

Fires ravage France, Spain, Portugal forests as Europe’s temperatures rise again

Hundreds of firefighters battled forest infernos in France, Spain and Portugal on Sunday as temperatures rose again in heatwave-scarred Europe. The latest wildfires have already devastated more than 17,000 hectares (42,000 acres) of land – twice the size of Manhattan – across the three countries where temperatures in some places were predicted to touch 40°C on Sunday. Authorities registered thousands of excess deaths during one of Europe’s worst heatwaves in June, and with more extreme weather..