Eu Financial News

The gap between the U.S. and European economies is widening, with growth and inflation on different trajectories as the fallout from the war in Ukraine weighs on Europe’s prospects. The European Union’s statistics agency Tuesday said the combined gross domestic product of the eurozone’s 20 members fell by an annualized 0.4% in the three months through September, having increased by 0.6% in the previous quarter.

Supply and demand dynamics could mitigate concerns of a potential Bitcoin (BTC) market supply shock during the upcoming mining reward halving in 2024, according to Bitvavo CEO Mark Nuvelstijn.

Spain has unveiled plans to reduce the transition period before the application of the Markets in Crypto Assets (MiCA) regulation.

The economy of the euro zone shrank by 0.1% in the third quarter, as per initial calculations, falling short of the expected consensus that the GDP would remain stable compared to the previous quarter.

BRUSSELS (Reuters) — Euro zone economic growth was weaker than expected in the third quarter, a flash estimate showed on Tuesday, with gross domestic product contracting slightly quarter-on-quarter and the year-on-year growth rate slowing sharply.

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The Spanish Ministry of Economy and Digital Transformation reported that the first comprehensive European Union crypto framework, the Markets in Crypto-Assets (MiCA) Act, will come into force on a national level in December 2025.

Trade and economy officials from the Group of Seven wealthy democracies have strengthened their pledge to work together to ensure smooth supply chains for essentials like energy and food despite global uncertainties

Facebook and Instagram users in Europe are getting the option to pay for ad-free versions of the social media platforms as a way to comply with the continent’s strict data privacy rules

German Chancellor Olaf Scholz has met with Nigerian President Bola Tinubu as part of a West Africa tour as the European country looks to diversify its trade partners and expand economic partnerships in the energy-rich region

The European Commission’s top official says a decade-long investment package for Western Balkan countries that are seeking to join the bloc could vastly improve the region's economy

China's top electric carmaker BYD announced a record quarterly profit Monday, underscoring the firm's growing dominance in a high-tech sector that is fiercely contested by both domestic and foreign competitors. The Shenzhen-based firm posted a profit of 10.4 billion yuan ($1.42 billion) for the July-September period, its highest-ever earnings during a single quarter and up 82 percent on-year, a statement to the Hong Kong Stock Exchange showed. The figure was in line with BYD's previous forecast of between 9.55 billion yuan and 11.55 billion yuan in quarterly earnings. BYD's cumulative net profit for January-September reached 21.4 billion yuan, more than doubling on-year and surpassing last year's total annual earnings of 16.6 billion yuan. Electric vehicle demand has soared in recent years in China, which is the world's biggest producer of greenhouse gases in absolute terms. BYD, whose investors include US investment titan Warren Buffet, wants its sales to be dominated by electric and hybrid vehicles by 2035. Earlier this year, BYD became the first global manufacturer to pass the five million milestone in electric vehicle production, crowning itself «the world's leading manufacturer of new energy vehicles and power batteries». Originally specialising in the design and manufacture of batteries, the company diversified into the automotive sector in 2003. Many foreign automotive leaders — including Tesla, BMW, Mercedes and Audi — depend on BYD for their batteries. China's electric vehicle sector has benefited from decades of subsidies issued by Beijing in related technological fields. The growing success of Chinese electric car firms in foreign markets has also drawn scrutiny.

Following October’s tragic events in Israel, a narrative linking Hamas funding to cryptocurrencies emerged from The Wall Street Journal in an Oct. 10 story authored by the paper’s Angus Berwick and Ian Talley. It fueled Sen. Elizabeth Warren’s crusade against the crypto sector. Subsequent insights from Chainalysis and Elliptic cast serious doubt on the claims, demanding a more judicious examination of the accusations levied against the crypto industry.

Facebook and Instagram, has unveiled its ad-free subscription service, offering European users the option to enjoy their favorite social platforms without advertisements. This development comes in response to a recent ruling by the EU's Court of Justice, mandating that Meta obtain user consent before delivering personalized ads. The move signals Meta's compliance with evolving regulatory frameworks in Europe.

The U.K. government on Monday confirmed plans to regulate the cryptocurrency industry, announcing in a consultation paper that it will look to bring in formal legislation for crypto activities by 2024.

The Group of Seven (G7) industrial countries are scheduled to agree upon an artificial intelligence (AI) code of conduct for developers on Oct. 30, according to a report by Reuters. 

The finance ministry said it would move ahead as proposed in an earlier public consultation, requiring firms undertaking cryptoasset activities to be authorised by the Financial Conduct Authority as Britain introduces rules similar to those already approved in the European Union.

general elections next year. The Bangladesh Nationalist Party has denounced Fakhrul Islam Alamgir’s detention and announced a three-day blockade of mainly roads and public transportation across the country starting on Tuesday.

Narendra Modi unveiled this ambitious project on 9 September during the G-20 summit in New Delhi. It has the potential to change face of Asia and Europe through the building of transport and communication links via rail, road, and the sea. Along with the US, Saudi Arabia, UAE, the EU, Italy, France, and Germany have signed a Memorandum of Understanding for this project.

New Delhi: An end of year deadline for a free trade deal between India and the European Union is unrealistic, the 27-nation grouping’s Ambassador to India, Hervé Delphin, said in an interview. Stressing the need for a level playing field for European businesses, Delphin cited concerns about India’s regulatory uncertainty as a potential dampener on EU investments. Edited excerpts: I don’t think that, to my knowledge, India has had such a large-scale FTA with any other partner.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: EV makers are hitting pause on EV production; BP makes a deal; and Tesla escapes EU probe.