europe
NatWest Group plc has announced its decision to shut down its operations in Poland, a move set to begin in 2025. This closure will affect approximately 1,600 employees, most of whom work in the bank’s financial crime unit. The decision aligns with the British bank’s broader strategy to simplify its operations and streamline its organizational structure. Impact on employees and operationsThe closure of NatWest’s Polish branch will result in significant job losses, primarily within the financial crime unit. This unit plays a crucial role in the bank’s efforts to detect and prevent financial crim...
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Accenture Plc (NYSE: ACN) is in focus this morning after announcing plans of buying Fibermind – a network services company based out of Palermo, Italy. The Irish professional services giant completed its acquisition of Parsionate as well on June 6th. Details of Accenture-Fibermind agreementAccenture Plc did not disclose what it’s willing to pay for Fibermind on Wednesday. Accenture did confirm, however, that the proposed acquisition is subject to meeting customary closing conditions, including regulatory clearances. Mauro Macchi – its chief executive said in a press release today: As a result ...
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French stocks are expected to face increased volatility due to the upcoming legislative elections, strategists at Goldman Sachs have warned. The CAC 40 index, which includes 40 of the largest companies listed on the Paris Stock Exchange, experienced its worst performance since March 2022 last week, plummeting more than 6%. This downturn was triggered by the announcement of a snap election, causing market jitters over the potential victory of the far-right National Rally and the implications for fiscal policy and economic stability. Market reaction to snap electionThe prospect of the far-right ...
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Today, the European Commission’s Eurostat data centre revealed the latest CPI inflation readings for inflation for the Euro area. The EU annual inflation rate rose by 0.1 percentage points in May 2024 to 2.7%, marking the first increase since December 2023. Previously, the April 2024 month-over-month for EU CPI was at 2.6%. For May 2024, the annual inflation rate was at 2.6%, up 0.2% from April 2024, with its reading of 2.4%. Exceeding expectationsForecasts from analysts for EU CPI month-over-month figures were broadly at 2.6% for May 2024. If this were to be the case, it would mean that the s...
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Apple has encountered significant issues under the European Union’s sweeping Digital Markets Act (DMA), according to EU Competition Commissioner Margrethe Vestager. This legislation, aimed at regulating Big Tech companies, has put Apple under scrutiny for potentially non-compliant practices. Investigation launched into Apple, Alphabet, and MetaIn March, the European Commission began probing Apple, Alphabet, and Meta under the DMA. The investigation focused on several concerns, particularly whether Apple was obstructing businesses from informing users about cheaper alternatives for products or ...
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FTSE 100 is currently down about 3.5% versus its year-to-date high in last month. But there’s a bunch of U.K. stocks that are trading at a much more attractive discount at writing. Here is our list of top three you should consider owning in 2024. easyJet plc (LON: EZJ)Down well over 20% versus its year-to-date high, easyJet is an undervalued U.K. stock that is worth owning this year. EZJ shares may be a great pick at writing because the management is committed to lowering net debt and improving the balance sheet at large and signs of their strategy working are already becoming evident. easyJet...
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The European Council announced on Monday its decision to extend the sanctions imposed in response to Russia’s illegal annexation of Ukrainian Crimea and the city of Sevastopol until June 23, 2025. This move reaffirms the EU’s firm stance on the issue and aims to maintain pressure on Russia over its actions in the region. Scope of the sanctionsThe sanctions encompass a comprehensive set of restrictive measures, including: Prohibition on imports: Goods originating from Crimea and Sevastopol are banned from entering the EU market.Infrastructure and financial investments: EU entities are prohibite...
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Russian President Vladimir Putin commented on Friday that the “selfishness” and “arrogance” of Western powers have brought the world “unacceptably close” to the point of “no return.” During his address at the Russian Foreign Ministry meeting, Putin criticized the actions of the United States and NATO, accusing them of undermining global strategic stability. Putin blames Washington for destabilizing global securityPutin specifically pointed to Washington’s decision to unilaterally withdraw from the Anti-Ballistic Missile Treaty as a key factor in destabilizing international security. “Let me al...
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The tanking of Warner Bros Discovery’s share price, and uncertainty about the company’s future, has at least led to good news and opportunity for one party. Warner Bros Discovery share price crashed to an all-time low, read our analysis: WBD could tank to $5 soon Liberty Global gains controlling interest in Formula EYesterday, broadband and telecommunications company Liberty Global Ltd. announced that it will acquire shares held by Warner Bros. Discovery in the electric car racing series Formula E. The acquisition of shares held by Warner Bros. Discovery will, on completion, bring Liberty Glob...
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Nio Inc (NYSE: NIO) is slipping in premarket on Wednesday after the European Union announced a significant increase in tariffs on Chinese electric vehicles. Details of new EU tariffs on $NIOThe bloc has decided in favour of slapping up to 38.1% tariff on imports of China-made EVs that it said benefits “heavily from unfair subsidies” that undermine the producers in Europe. Still, Nio Inc remains committed as ever to expanding in Europe. It did, however, condemn the massive increase in tariffs the EU Commission announced on Wednesday. Nio will continue to serve our users and explore new opportun...
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