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Author's articles
Ex-banker and Scholz ally: Germany's new finance minister
Joerg Kukies, Germany's new finance minister, is a former investment banker who has long been one of Chancellor Olaf Scholz's closest advisers, most recently as a state secretary. But in spite of the huge pay cut, he stayed -- and three years later, when Scholz became chancellor, switched to being an economic adviser in the chancellery.
German big business calls for early vote, economic vision
German big business groups demanded almost in unison Thursday that embattled Chancellor Olaf Scholz call elections soon to restore political stability in Europe's stuttering top economy. Hours after the world learnt that Donald Trump, a strong proponent of tariffs, is headed back to the White House, German Chancellor Olaf Scholz's ruling coalition imploded.
Waste heat from London sewers eyed to warm UK parliament
London landmarks including the UK parliament could be warmed by low-carbon heat powered by the River Thames, the London Underground train system and even the sewer network under new government plans.
Bank of England cuts interest rate as inflation slows
The Bank of England on Thursday said it was cutting its key interest further after UK inflation hit a three-year low and signalled more reductions, easing pressure on borrowers. Sweden's central bank slashed borrowing costs by 0.5 basis points Thursday -- its fourth this year and biggest reduction in a decade -- while Norway made no change.
French parliament approves bill to rein in tourist rentals
The French parliament on Thursday approved a bill aimed at tightening the regulation of tourist accommodation such as Airbnb to combat the shortage of affordable housing. The bill -- the result of a compromise between the two houses of French parliament -- had been unanimously approved by the upper house Senate on Tuesday.
Pharma giant AstraZeneca says China chief detained
Pharmaceutical giant AstraZeneca said Thursday that the head of its China operations had been detained, after reports the firm was under investigation for potentially illegal data collection and drug imports.
French lawmakers back bill to tighten Airbnb regulation
French lawmakers on Thursday backed a bill aimed at increasing the regulation of tourist accommodation such as Airbnb to combat the shortage of affordable housing. The legislation, which has been in the works since April 2023, aims to slash tax breaks for tourist properties in a bid to curb short-term rentals amid shortages of affordable housing.
Nissan announces 9,000 job cuts, slashes sales forecast
Japanese automaker Nissan on Thursday announced 9,000 job cuts as it slashed its annual sales forecast, saying it was taking urgent measures to tackle "a severe situation". "Facing a severe situation, Nissan is taking urgent measures to turnaround its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the market," a company statement said.
China export growth beats expectations with October surge
Chinese exports surged last month at their fastest pace in more than two years, data showed Thursday, easily topping forecasts and providing optimism about the economy as officials steel for a potential US trade war after Donald Trump was re-elected president.
AFP
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