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NATO is increasing its presence in the Baltic Sea in response to suspicious activities by vessels in the region, particularly those suspected of being part of Russia’s shadow fleet. This fleet is believed to be involved in sabotaging undersea cables and pipelines, posing significant threats to critical infrastructure. To counter these activities, NATO will deploy sea drones, naval aircraft, and frigates, according to Secretary-General Mark Rutte. Speaking on...
Ryanair has voiced concerns about passengers consuming excessive alcohol before flights, after an incident that forced an unplanned diversion. The budget airline is demanding €15,000 in compensation from a disruptive passenger. Due to what Ryanair described as “unacceptable” behavior on a flight from Dublin to Lanzarote, the aircraft was diverted to Portugal. The incident caused significant disruption, delaying the journey of 160 passengers by an entire night. The...
The value of Bitcoin, the largest cryptocurrency, experienced a significant drop on Monday. According to Bloomberg, Bitcoin’s price fell by over 4%, settling at approximately $91,000 (around €89,000). This marks its lowest level since November 18, 2024. Other cryptocurrencies also saw notable declines. Ethereum, the second-largest digital currency, dropped 6.6%, trading just below $3,050. The downturn appears to be linked to shifting investor expectations regarding interest rate cuts...
Chinese exports soared to record levels in 2024, partly due to factories rushing to sell inventory to the United States ahead of a potential second term for Donald Trump. During his first presidency, Trump imposed higher tariffs on Chinese goods and has threatened even steeper duties if he returns to the White House next week. In response, American companies have been stockpiling Chinese goods. In 2024, China’s total...
Tesla has introduced a refreshed version of the Model Y, featuring a completely redesigned front and rear, as well as an updated interior. The new Model Y can be recognized by its revised headlights and a light strip at the front. The rear also boasts new light units, which are visually connected by a light strip, distinguishing the Model Y from the Model 3, which was updated earlier....
Meta, the company behind Facebook and Instagram, has announced internally that it will scale back various initiatives. Employees will no longer be required to engage with candidates from underrepresented backgrounds for open job positions, nor will they be obliged to conduct business with “diverse” suppliers. Maxine Williams, Meta’s Chief Diversity Officer, will be transitioning to a different role within the company. Similarly, Amazon informed its staff that it...
Volex plc, a global leader in manufacturing critical power and data transmission products, continues to show strong financial performance and strategic growth, making it an attractive prospect for investors. Financial Performance Volex has consistently demonstrated growth across its key markets. In the fiscal year ending March 31, 2024, the company reported a 26.3% increase in revenue, reaching $912.8 million compared to $722.8 million the previous year. This growth...
European aircraft manufacturer Airbus delivered 766 planes last year, marking its highest output in six years. The A321neo model has emerged as the world’s best-selling aircraft, driven by airlines investing heavily in upgrading their fleets with more fuel-efficient planes like the A321neo. Notably, carriers such as KLM are replacing older Boeing 737 models with Airbus aircraft. Despite the impressive figures, Airbus narrowly missed its target of delivering 770...
Digital payments in the European Union (EU) have seen significant growth in recent years, becoming safer, faster, and more cost-effective. According to a report by the European Court of Auditors released on Thursday, the total value of digital payments in the EU more than doubled between 2017 and 2023, reaching over €1 trillion in 2023. However, the report highlights that EU regulations are not always fully enforced, with...
Bitcoin has faced a notable drop of -8% this week, testing its strength at crucial support levels. After holding the $93,345 zone, it’s still possible that Bitcoin could continue its upward trajectory, with the next major target around $114,785 if the demand area continues to hold strong. However, if we see further weakness and the price fails to maintain above the $93,345 support, a potential breakdown could lead...
In a recent press conference, U.S. President Donald Trump did not rule out the use of military or economic pressure to gain control over Greenland and the Panama Canal, signaling a shift in his foreign policy stance. “I can’t give you guarantees,” Trump said when asked whether such actions were on the table. Trump suggested that he could impose tariffs on Denmark if the Scandinavian country opposes the...
McDonald’s has scaled back several diversity-related initiatives in the United States, joining a growing list of major American companies that have recently revised their diversity and inclusion policies. The fast-food giant’s decision follows similar moves by other large corporations such as supermarket chain Walmart, motorcycle manufacturer Harley-Davidson, and spirits producer Brown-Forman, the maker of Jack Daniel’s whiskey. As part of its shift, McDonald’s announced that it will no...
Automaker Stellantis has announced the resignation of its CEO, Carlos Tavares, effective immediately. The decision, described by board member Henri de Castries as stemming from “differences in viewpoints” between the executive and the board, leaves the company without a clear successor. Tavares, widely regarded as one of the most respected leaders in the automotive industry, issued a profit warning in September concerning Stellantis’ 2024 financial results, citing declining...
The Russian ruble has experienced a sharp decline in value over the past few days, reaching its weakest level since March 2022, when Russia had just launched its invasion of Ukraine. As of now, one US dollar (around €0.95) is worth approximately 108 rubles. The depreciation is not limited to the dollar. The ruble has also weakened significantly against the euro and the Chinese yuan. Currently, over 113...
British airline EasyJet has announced significant profits, driven by a growing trend among travelers to book complete vacation packages, including flights and accommodations, directly through the airline. This trend reflects a resurgence in travel demand as people are eager to take holidays again. In markets such as Germany, England, and France, EasyJet offers customers the convenience of booking transport and lodging in one place. These package deals contributed...
Donald Trump has announced that, if he is re-elected as President of the United States, he will impose significant import tariffs on China. Canada and Mexico are also expected to face similar measures. On his social media platform, Truth Social, Trump stated that these tariffs are being introduced to combat illegal immigration and drug trafficking. Trump is proposing a 10% import tariff on products exported from China to...
Disney has agreed to a $43 million settlement (€41 million) over allegations that thousands of women were paid less than their male counterparts for years. The settlement still requires court approval. The company maintains that it has always aimed to pay its employees fairly. The settlement covers thousands of women who have worked for Disney as employees since 2015. The case began in 2019 with Ronda Rasmussen, a...
Archegos founder Bill Hwang had previously been found guilty of fraud and market manipulation. He was accused of misleading banks by inflating the value of Archegos’s investments through various deceptive tactics. The imposed prison sentence, however, is less than the 21-year term initially sought by the U.S. Department of Justice. Prosecutors also demanded that Hwang pay over $12 billion in damages to victims. “This is one of those...
Spotify now boasts 640 million users worldwide, marking an 11% increase compared to the third quarter of last year. The number of paying subscribers grew by 12% over the same period, reaching 252 million users. Due to last summer’s price hikes, paying users are now generating more revenue per person for Spotify than last year. The music streaming platform now earns an average of €13.95 per paying user...
The European Union decided on Tuesday to definitively impose import duties on electric cars made in China. In July, the EU already introduced provisional levies that could amount to more than 30 percent. Recently, electric cars from China, such as BYD, SAIC and Lynk & Co, have become very popular in Europe. According to Brussels, Beijing gives its car manufacturers a lot of support, bringing the vehicles to...
It is the worst trade market day for Philips in 26 years. This was because the company reported Monday morning that sales in China were disappointing. This will probably continue to play tricks on Philips for the rest of the year, reducing revenue expectations. Philips last lost more market value in one day in September 1998. Even during the sleep apnea affair of recent years, the Amsterdam-based group...
It would be the first time ever that Volkswagen closes factories in home country Germany. Daniela Cavallo, chair of the works council, speaks of “starvation” by the management. “This means that even more products, shifts and complete production lines will be cut,” Cavallo says according to the Bloomberg news agency. Volkswagen employees were already planning to stop work on Monday. They protest against the plans to close factories....
The European Commission’s proposal was adopted with 518 out of 635 votes. 56 MEPs voted against, 61 abstained. “A historic moment,” Roberta Metsola said after the vote result. “We are giving a clear message that Russia as an aggressor will have to pay for the destructions in Ukraine.” The support in the European Parliament is broad, as it became clear earlier during the debate on Tuesday. MEPs from...
ASML is already not allowed to sell its latest chip machines in China, while that is the largest market for the Veldhoven company. Stricter export rules now also apply to older machines. In doing so, the government wants to prevent China from using advanced chips for military purposes. “When you look at the geopolitical landscape, I think it’s clear that the United States will continue to put pressure...
Last month, nearly 140,000 all-electric cars were sold, according to figures from the European association of car manufacturers ACEA. There were 127,000 a year earlier. Due to the increase, the market share has also become a lot bigger, because total car sales fell down a bit in September. More electric models have been purchased in Italy, Spain, Germany and the Netherlands, among others. Especially the increase at the...
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