World

US President Joe Biden looks to cut budget deficit and tax stock windfalls

US President Joe Biden’s budget for the fiscal year 2024 will be released on Thursday.

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US climate investment regime tipped to suck $25bn from Europe

One of the European Union's strongest critics of a massive US climate law is warning that Washington's subsidies and China's policies are drawing billions of dollars of clean-tech investments away from the bloc.

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Burned by its costly Kanye West collaboration, Adidas chief executive says it's time to refocus

Adidas, burnt by the end of its tie-up with the artist formerly known as Kanye West, needs a new focus but should think more tactically about fresh celebrity partnerships and not count on one personality, industry experts said.

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Adidas slashes dividend and sidesteps question on Yeezy gear

Adidas AG slashed its dividend and offered no concrete plans for disposing of $1.3bn in Yeezy gear as new Chief Executive Officer Bjorn Gulden tries to turn around the crisis-beset German sports brand.

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Indigenous gas field ‘greener’ than importing LNG, says Europa

The boss of Europa Oil and Gas has insisted it’s imperative that a major gas prospect off the west coast of Ireland, close to the existing Corrib field, is developed to boost Ireland’s energy security.

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Germany eyes ban on some Chinese telecom components made by Huawei and ZTE

Germany plans to ban telecoms operators from using certain components made by Chinese companies Huawei and ZTE in 5G networks, a government source said, in a potentially significant move to address security concerns.

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Czech firm sees boom for its inflatable weapon decoys after Russia’s invasion of Ukraine

Losing a tank or valued US-made high mobility artillery rocket systems (Himars) can hurt an army less the weapon is a cheap inflatable decoy placed on the frontlines to deceive the enemy.

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China sets modest growth target as economic risks persist

China set a modest economic growth target of around 5pc for the year, a sign the nation's top leaders are still concerned about the recovery, given weak consumer confidence, declining exports and a housing market still under pressure.

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Spain prepares law to make company boards at least 40pc female

Spain's government will seek to pass a gender parity law making it mandatory for corporate boards to be composed of at least 40pc women. A similar quota will be imposed on the government Cabinet.

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Premium

Gus Kelly’s shares in aircraft leasing giant AerCap now worth €340m as international travel recovers

The value of AerCap chief executive Gus Kelly’s stake in the aircraft lessor has soared since the pandemic and now stands at $360m (€339m).

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Wagamama owner under pressure to boost profits from activist shareholder

Wagamama owner The Restaurant Group (TRG) will seek to quell pressure from activist investors next week amid a key period in the group’s recovery following the pandemic.

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Sarah Collins Opinion Inflation spike will keep the pressure on European Central Bank to raise interest rates

Ireland was not the only country to see higher-than-expected inflation last month, denting hopes that the worst of the cost-of-living crisis has passed. The unwelcome surprise will give hawkish central bankers more reason to keep hiking rates after March.

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Food prices overtake energy as inflation driver in February

Food prices have overtaken energy as the fastest-rising item in the inflation basket in Europe.

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EU exports to Ukraine rise to pre-war levels

European Union exports to Ukraine rose to pre-war levels in December, recovering from the trade disruption caused by Russia’s invasion, data from the bloc’s statistics agency Eurostat showed yesterday.

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Premium

David Chance Opinion Victory in Ukraine will spark new battle over who will fund reconstruction

Rebuilding Ukraine is going to be done largely by private companies using private sector money. It is as far removed from the Marshall Plan that rebuilt Europe almost 80 years ago as it is possible to imagine.

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Payments app Revolut swung to profit in 2021, delayed accounts show

Finance app Revolut made its first annual profit in 2021 after nearly tripling its revenue, according to delayed accounts published Wednesday.

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Euro zone bond yields hit new multi-year highs

Euro zone government bond yields hit their highest levels in more than a decade on Wednesday, as regional German data kept fears about inflation at the front of investors' minds.

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BP chief Bernard Looney says going green means more oil and gas investment to prevent price spikes

As the sound of climate protesters reverberated through the conference room, BP chief Bernard Looney made the case that investment in more oil and gas is crucial for the transition away from those very fuels.

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Supply chain reconnection not yet damping down inflation

Supply chains across the world are healing almost as fast as they broke down. However, that doesn't mean the pressure they're exerting on inflation will disappear as quickly.