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Indrabati Lahiri

London, United Kingdom
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About Indrabati
I am a finance journalist and editor, with almost 4 years' experience across full-time and freelance roles, based in London, United Kingdom. I've written about equitiies, commodities, finance, investing and emerging markets extensively. 

Currently, I'm a business reporter at Euronews. I've previously worked at Capital.com and IBM. I also have a website, Wealthier Moksha (www.wealthiermoksha.com), which focuses on commodities, macroeconomics and emerging markets.
Languages
Bengali English French
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News Gathering Feature Stories Content Writing
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Business Finance Current Affairs
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Portfolio

Ireland reveals fuel and broadband price increases from April

29 Mar 2024  |  www.euronews.com
Irish consumers will face price hikes for fuels and telecommunications services starting April 1. The government is increasing excise rates on fuel to pre-2022 levels, with further hikes expected in August. This will result in higher costs for petrol, diesel, and marked gas oil. Telecommunications companies like Vodafone, Three, Sky Ireland, and Eir will also raise prices, citing inflation and investment needs. The Irish government faces criticism for continuing excise duty increases despite record fuel tax revenues in 2023. Peadar Toibin of Aontu argues that the government should reduce tax rates to alleviate the burden on families and businesses.

Diageo price hike fails to bring cheer to hospitality sector

27 Mar 2024  |  www.euronews.com
Diageo, a British-Irish drinks giant, is raising pint prices for the third time in over a year, with a six-cent increase in Ireland affecting brands like Guinness, Rockshore, Carlsberg, and Hop House 13. The hikes are due to rising input costs, despite recent drops in inflation and energy prices. The Vintners Federation of Ireland criticizes the move, highlighting the hospitality sector's struggles with rising costs and calling for government support. Diageo has also announced Sir John Manzoni as its new board chairman, succeeding Javier Ferran.

Maritime transport disruptions could fuel inflation

16 Jan 2024  |  es.euronews.com
Beata Javorcik, Chief Economist at the European Bank for Reconstruction and Development, discussed the main economic risks for 2024 at the Davos summit of the World Economic Forum, highlighting inflation driven by maritime transport disruptions in the Red Sea due to Yemeni Houthi attacks. Shipping companies like Maersk, MSC, and Hapag-Lloyd have halted Red Sea and Suez Canal routes, with alternative routes adding significant travel time and costs. This could lead to increased final product prices, particularly in energy. Central banks remain cautious about declaring victory over inflation, which remains above the 2% target. The conflict in the Middle East and its impact on shipping could further affect inflation trajectories. Commodity markets may see renewed volatility, especially with geopolitical tensions involving Iran, the US, UK, and European countries. AI advancements pose potential risks to electoral processes, with concerns about interference through disinformation. Europe's economy may be better positioned this year, but natural gas prices remain high, threatening competitiveness and potentially leading to deindustrialization. The EBRD is focusing on promoting the green transition in Europe.

Experts: Houthi attacks in the Red Sea can further fuel inflation

16 Jan 2024  |  de.euronews.com
Beata Javorcik, Chief Economist at the European Bank for Reconstruction and Development, considers inflation a major economic risk for 2024. Shipping disruptions in the Red Sea due to Houthi attacks could drive prices up, affecting global inflation. Alternative shipping routes are costly and time-consuming. Central banks remain cautious about inflation, which is still above the 2% target in many countries. The Middle East unrest and AI advancements pose risks, with potential election interference through misinformation. Europe faces challenges with high gas prices affecting competitiveness and potential deindustrialization. The EBWE aims to promote the green transition, with over 50% of last year's investments in the green economy.

Apple overtakes Samsung to seize crown as world’s largest smartphone-maker

16 Jan 2024  |  www.euronews.com
Apple surpassed Samsung as the world's largest smartphone manufacturer by volume in 2023, ending Samsung's 12-year streak. Apple's market share reached 20.1%, with Samsung at 19.4%. The success was attributed to consumers opting for higher-end models. Samsung lost ground in the low-end market, facing competition from Chinese brands like Xiaomi, Oppo, and Transsion. Apple also faced challenges, including a US import ban on certain Apple Watch models due to a patent infringement case with Masimo, and production issues in China leading to consideration of alternative manufacturing hubs like India.

Red Sea shipping disruptions could further fuel inflation, EBRD warns

16 Jan 2024  |  euronews
Beata Javorcik, the EBRD's chief economist, warned at the World Economic Forum in Davos that Houthi attacks on shipping routes in the Red Sea could exacerbate global inflation. Shipping companies like Maersk have rerouted vessels, increasing costs and potentially impacting energy prices. Central banks remain cautious about inflation, with the ECB's Robert Holzmann suggesting interest rate cuts may not occur in 2024. Commodity market volatility could return, and AI advancements pose risks to election processes. Europe's economy is expected to improve but faces challenges such as high natural gas prices and potential deindustrialization. The EBRD is focusing on advancing the green transition in Europe.

UK economy sees rise in November, boosted by services sector

12 Jan 2024  |  www.euronews.com
UK's GDP rose by 0.3% in November, driven by a 0.4% increase in the services sector. Industrial production and manufacturing also saw improvements. The economy shows signs of recovery from the COVID-19 pandemic and energy crisis, with inflation dropping to 3.9%. However, core inflation may remain high due to service price rises and a tight labor market. KPMG forecasts a GDP growth of 0.5% in 2024, while Investec, Deutsche Bank, and Oxford Economics predict inflation could shrink to 2% by April, potentially leading to interest rate cuts by the Bank of England.

Tesco lifts profit guidance following robust Christmas sales

12 Jan 2024  |  euronews.com
Tesco reported strong Christmas sales and raised its profit guidance for the 2023/2024 financial year, with retail adjusted operating profit expected to be £2.75 billion. The UK supermarket chain saw a 6.8% sales boost in the UK and 1.6% in Central Europe during the Christmas period, and a 7.9% increase in Q3 sales in the UK. Tesco introduced the 'Finest Chef's Collection' range and won 35 Christmas food awards. Online sales rose about 11.5% before Christmas, and the company's wholesale grocery distribution and catering business, Booker, also saw increased sales. A new distribution centre was launched in Fareham. CEO Ken Murphy highlighted Tesco's investment in service and quality but expressed concerns about rising food prices due to the Red Sea crisis.

What will be the main geopolitical risks in 2024?

11 Jan 2024  |  fr.euronews.com
The Global Risks 2024 report by the World Economic Forum highlights major risks facing the global economy, including geopolitical tensions, environmental crises, and the spread of disinformation. Key concerns include the rising cost of living, economic uncertainty, and the potential for increased conflicts in regions like Israel, Ukraine, and Taiwan. The report also emphasizes the impact of misinformation, particularly through AI, and the need for localized strategies and collective actions to mitigate these risks. The importance of cross-border coordination and investment in research and development is underscored as essential for addressing global challenges.

US inflation rises to 3.4% in December on energy prices

11 Jan 2024  |  euronews.com
US inflation increased to 3.4% year-on-year in December 2023, driven by a slower decline in energy prices compared to the previous month. Core inflation was reported at 3.9%, with month-on-month inflation at 0.3%. The Federal Reserve's December FOMC minutes indicated a possibility of rate cuts in early to mid-2024, but concerns over the December inflation report may delay such actions. Despite a strong job market and the absence of a recession, inflation remains above the Federal Reserve's 2% target. The upcoming World Economic Forum in Davos will address global economic growth, but it is unlikely to significantly influence the Federal Reserve's monetary policy decisions.

Why Rio Tinto's Guinea iron ore project is starting after 27 years

09 Jan 2024  |  www.euronews.com
Rio Tinto's Simandou iron ore project in Guinea is finally moving forward after nearly three decades of delays due to political turmoil and internal company issues. The $20 billion project, which includes two iron ore mines, a trans-Guinean rail line, and a deep water port, is a joint venture between the Guinean government, Rio Tinto, and several other companies, primarily from China. The project is expected to reach full capacity by 2028, contributing significantly to global iron ore supply.

Barclays slashed 5,000 jobs last year in cost-cutting drive

09 Jan 2024  |  www.euronews.com
Barclays reduced approximately 5,000 jobs globally in 2023 as part of a cost-cutting initiative aimed at simplifying and reshaping the business. The job cuts, which represent about 5% of its workforce, are expected to save around £1 billion. The move primarily affected the UK chief operating officer function and Barclays Execution Services. The bank has faced challenges in its investment banking division and several scandals involving past CEOs. Current CEO C.S. Venkatakrishnan emphasized the need for workforce modulation and a focus on automation and technology. The bank's strategy aims to shift towards more profit-generating ventures and specialized banking services.

Weekly markets wrap: European shares dip ahead of non-farm payrolls

06 Jan 2024  |  www.euronews.com
European shares fell on Friday, influenced by weak economic data from Germany and France and rising Eurozone inflation. The French CAC 40, Stoxx 600, and FTSE 100 indices all saw declines. Analysts are closely watching US jobs data for clues on future Federal Reserve interest rate decisions. Notable weekly gainers included Orange, Sanofi, and Danone, while significant losers were STMicroelectronics, Pernod Ricard, and Alstom. Key corporate developments included management changes at LVMH and Kering, and new projects and partnerships for several companies.

US economy adds another 216,000 jobs in December 2023

05 Jan 2024  |  euronews.com
In December 2023, the US labor market added approximately 216,000 new jobs, surpassing the previous month's figures and analyst estimates. The government and healthcare sectors led the growth, while warehousing and transportation experienced a decline. The total job growth for 2023 was the smallest since 2019, averaging around 225,000 new jobs per month. The US Federal Reserve is considering rate cuts due to concerns over an overly restrictive monetary policy potentially leading to a recession. In contrast, the European Central Bank and the Bank of England are cautious about reducing rates without definitive evidence of inflation control.

French inflation rises on higher energy prices

04 Jan 2024  |  euronews.com
French year-on-year inflation for December 2023 increased to 3.7%, driven by a significant rise in energy prices, which saw a 5.6% increase. Despite a decrease in manufactured products and food prices, the latter remains high, leading consumers to seek cheaper alternatives. France has raised its energy price cap to 15% affecting a majority of households, in response to supply costs influenced by the COVID-19 pandemic and the Russia-Ukraine war. The lower nuclear energy production due to stress corrosion at EDF facilities and increased demand during winter has also contributed to the surge in energy prices. However, France's tariff shield has been effective in protecting its citizens from the energy price hikes, according to Energy Transition Minister Agnes Pannier-Runacher.

Chinese and German manufacturing sectors boosted by new orders, UK lags

02 Jan 2024  |  euronews.com
China's manufacturing sector is recovering, with the Caixin PMI for December exceeding expectations. German manufacturing also shows signs of improvement, despite still being in contraction. The UK manufacturing sector, however, is facing a decline, with the S&P Global PMI falling below expectations. The global economic outlook is cautious, with central banks like the US Federal Reserve and the European Central Bank being wary of cutting rates too soon.

US Inflation Forecast for 2024: Analyst Expectations and Market Implications

01 Jan 2024  |  www.techopedia.com
The US headline inflation rate for January 2024 was 3.1%, slightly below the previous month but above market expectations. Key factors influencing inflation include supply shocks, natural phenomena like El Nino, and geopolitical tensions, particularly the Israel-Hamas conflict and US-China trade issues. Analysts predict a gradual reduction in inflation rates over the next few years, with various scenarios outlined for potential economic outcomes. The Federal Reserve's monetary policy and global economic dynamics will play crucial roles in shaping the trajectory of US inflation.

All the Elon Musk controversies we've seen this year

30 Dec 2023  |  www.euronews.com
Elon Musk has faced numerous controversies throughout the year, primarily related to his management of Twitter (now X), his decisions regarding the Ukraine conflict, and his stance on free speech and disinformation. Key incidents include reinstating controversial accounts, banning journalists, and preventing Ukraine from using Starlink for military purposes. Musk's actions have drawn criticism from various quarters, including the EU, Ukraine, and the media, while also sparking debates on free speech and misinformation. Additionally, Musk's involvement in AI development and his contradictory stances on its dangers have added to the controversies.

Riding the fence: Luxury stocks give out mixed signals this year

28 Dec 2023  |  www.euronews.com
Luxury stocks experienced mixed performance this year, influenced by economic factors such as inflation and consumer behavior shifts towards practical and sustainable goods. LVMH saw a strong start but faced declines in high-end wines and spirits sales, particularly in China and North America. Kering's performance was hindered by investor doubts about Gucci's reboot and potential acquisitions. Hermès thrived with robust sales of its Birkin handbag and strong tourist-driven sales in Europe and the US. Prada maintained its price despite regional struggles, while EssilorLuxottica saw growth but faced legal challenges. Hugo Boss and Ralph Lauren reported significant growth, driven by strong digital sales and strategic initiatives, respectively.

What is the outlook for IPOs in 2024? Here's the companies to watch

27 Dec 2023  |  www.euronews.com
In 2024, the IPO market is expected to see a resurgence with several high-profile companies planning to go public. Key players include Reddit, Klarna, Stripe, Shein, Ola Electric, Databricks, Rubik, and Circle. Market conditions, influenced by central banks' interest rate policies and geopolitical factors, will play a significant role. Companies like Reddit and Shein have been cautious due to past market volatility, while others like Ola Electric and Databricks are poised for growth and expansion. The overall sentiment towards these IPOs is neutral, with a focus on strategic timing and market readiness.

Shipping giant Maersk prepares to restart operations in Red Sea

26 Dec 2023  |  www.euronews.com
Maersk is preparing to resume operations in the Red Sea following the establishment of the US-led Operation Prosperity Guardian to protect shipping from Houthi rebel attacks. The company remains cautious, ready to reverse its decision based on security developments. Recent attacks by Houthi rebels have targeted commercial vessels, prompting major shipping companies to halt operations temporarily. The Red Sea is a crucial shipping route, and disruptions have significant implications for global supply chains and shipping costs.

What this year’s Santa Claus rally could bring to the stock markets

26 Dec 2023  |  www.euronews.com
US stock markets have shown impressive gains towards the end of the year, with the S&P 500 nearing an all-time high. The 'Santa Claus rally,' a phenomenon where stock markets typically rise at the end of the year, is under scrutiny. Historically, this rally has been a predictor of the following year's market performance. Factors such as festive spending, end-of-year finances, and general optimism contribute to this trend. However, this year's rally may be subdued due to high inflation, central banks' monetary policies, and ongoing geopolitical crises like the Israel-Hamas conflict and the Russia-Ukraine war. Analysts remain cautious about the extent of this year's rally.

German consumers upbeat for 2024 but geopolitical concerns weigh heavy

20 Dec 2023  |  www.euronews.com
German consumers are showing increased optimism for 2024, as indicated by the GfK Consumer Climate indicator rising to -25.1 for January. Despite this, the overall sentiment remains low due to ongoing geopolitical issues like the Russia-Ukraine war and the Israel-Hamas conflict, as well as persistent high inflation affecting food prices. The German economy faces challenges with its 2024 national budget and slowing growth in the construction and real estate sectors. The government is balancing subsidies for climate-friendly housing with stricter regulations, impacting builders' decisions.

The cost of living crisis has forced Europeans to give up 'Secret Santa'

20 Dec 2023  |  euronews
The cost of living crisis in Europe has impacted the tradition of 'Secret Santa', with many Europeans spending less or opting out entirely. A survey by Love2shop found that 27% of British workers view 'Secret Santa' as a waste of money and time, with stress levels particularly high among teachers, legal workers, media professionals, and IT specialists. The average amount spent on 'Secret Santa' gifts is 14 pounds, though there's an unspoken expectation to spend more. Gift cards are considered a more pleasant gift by some, and second-hand gifts are trending as a cost-saving and eco-friendly option. The Bank of England may lower interest rates next year, potentially making Christmas 2024 a happier occasion in the workplace.

Secret Santa: Inflation Jeopardizes This Christmas Ritual

20 Dec 2023  |  fr.euronews.com
The tradition of 'Secret Santa' is under threat due to rising inflation in Europe, causing many to reconsider their spending on this holiday ritual. Surveys indicate that a significant portion of British workers find 'Secret Santa' stressful and prefer practical gifts like gift cards. The trend towards second-hand gifts is growing, driven by economic pressures and a desire for sustainability. Many workers would rather receive a Christmas bonus than participate in workplace festivities, highlighting a shift in priorities amid financial constraints.

Cost of living crisis means putting this Christmas ritual on hold

20 Dec 2023  |  euronews.com
The cost of living crisis in Europe is affecting Christmas traditions such as Secret Santa, with many consumers planning to spend less or opt out. A survey by Love2shop found that 27% of UK workers see it as a waste, with stress levels varying across professions and regions. The average spend is £14, but expectations often exceed this. Gift cards and vouchers are preferred over traditional gifts. Second-hand gifting is also on the rise due to economic factors and sustainability concerns. Workplace Christmas festivities are being reevaluated, with 83% of UK workers preferring a bonus over a party, and many disliking mandatory social events. With inflation potentially peaking, there is hope for more festive workplace celebrations in 2024.

Is inflation ending Christmas traditions?

20 Dec 2023  |  es.euronews.com
The beloved Christmas tradition of Secret Santa is causing more stress than joy this year as the cost of living in Europe continues to rise. Many consumers are considering spending less or opting out. A survey by Love2shop found that 27% of UK workers view it as a waste of time and money, with stress particularly high among certain professions. The average amount spent on Secret Santa gifts is 14 pounds, but there's a tendency to spend more. Handmade gifts and second-hand items are gaining popularity due to inflation and a desire for sustainable and local products. However, 40% are still not convinced by second-hand gifts. With most UK respondents looking to cut back on Secret Santa gifts, the second-hand market could be a future trend. Additionally, 83% of UK workers would prefer a Christmas bonus over a party, with many companies feeling the inflation pinch and opting for gatherings to foster workplace culture. However, inappropriate behavior at parties and the preference to not socialize with colleagues outside of work are common issues. Workers also believe they should be compensated for any additional time spent on work-related activities outside of regular hours.

Delivery services feel the strain as Christmas rush ramps up

11 Dec 2023  |  www.euronews.com
Delivery services are under pressure as the Christmas season approaches, with companies like Amazon, Ocado, UPS, Royal Mail, and John Lewis Partnership taking various measures to handle the surge. Amazon plans to hire 15,000 seasonal workers in the UK and raise base pay, but faces criticism for working conditions. Ocado is criticized for lack of delivery slots and missing items. UPS is hiring over 100,000 seasonal workers and not charging delivery surcharges. Royal Mail is hiring 16,000 seasonal workers and issuing delivery notices to avoid last year's strike-related losses. John Lewis Partnership is hiring over 10,000 seasonal workers, but faced backlash for reducing credit limits, which were later reinstated by NewDay.

Germany and Spain see service sector growth despite wages challenge

05 Dec 2023  |  www.euronews.com
Germany's services sector showed signs of improvement in November, with the HCOB Services PMI rising to 49.2, though still indicating contraction. Rising input prices, particularly wages, and competition for new work are key challenges. The outlook remains subdued due to consumer hesitancy and high interest rates. In Spain, the services PMI was slightly lower at 51, with new orders and export demand falling. Despite high input costs, investor sentiment is cautiously optimistic, hoping for an improved economic environment and market activity.

Weekly market wrap: European shares boosted by steel stocks

02 Dec 2023  |  euronews.com
European stock markets experienced gains, with mining and steel stocks performing well after positive Chinese manufacturing data. Speculation about the European Central Bank cutting interest rates sooner than expected arose, despite their cautionary stance. The CAC 40, STOXX 600, and FTSE 100 indices all saw weekly increases. Worldline SA, Unibail-Rodamco-Westfield, Stellantis, STMicroelectronics, and ArcelorMittal were among the top gainers, while Alstom, Pernod Ricard, Kering, Teleperformance, and LVMH were the top losers.

Swiss economy grows as services sector provides support

01 Dec 2023  |  www.euronews.com
Switzerland's GDP grew by 0.3% in Q3 2023, supported by a strong services sector and a modest contribution from manufacturing. Year-on-year growth reached 0.9%, surpassing market expectations. The Swiss government forecasts 1.3% growth for 2023 and 1.2% for 2024, both below the long-term average. The Credit Suisse PMI for November rose to 42.1, indicating improved manufacturing activity, though employment remains low. Domestic and EU demand are slowing, potentially capping future growth. The Swiss Franc strengthened, but the Swiss National Bank may intervene to prevent negative impacts on exports. The international economic environment remains challenging, with potential ECB rate cuts on the horizon.

Lower inflation and wage growth in 2024? Here's S&P Global's outlook for Europe

01 Dec 2023  |  euronews.com
S&P Global anticipates a soft landing for the eurozone economy in Q1 2024, driven by rising real incomes, disinflation, and robust wage growth. Eurozone inflation is expected to be around 2.9% with wage growth at 4%, down from 5% in 2023. The private sector's strong balance sheet and favorable financing conditions contribute to this outlook. However, risks include labor market resilience, inflation expectations, and the European Central Bank's monetary policy. Eastern European economies face higher inflation and tighter labor markets but may attract Western investments due to lower labor costs. The services sector has seen a post-pandemic boost, while manufacturing shows signs of stabilization, particularly in Germany. The construction sector's recovery remains uncertain, with Germany struggling and Spain showing resilience.

France: Inflation slowed down in November to +3.4% year-on-year

30 Nov 2023  |  fr.euronews.com
French year-on-year inflation for November was reported at 3.4%, down from 4% in October, marking the lowest rate since January. The slowdown is attributed to a slower-than-expected increase in service prices and energy prices, with increased confidence in France's energy security and expectations that nuclear reactors will sustain through winter. France's energy price shield and last year's fuel price cuts have kept energy costs significantly lower than neighboring countries. Manufactured goods and food prices also saw a decrease. The preliminary harmonized annual inflation rate of the EU for France dropped from 4.5% in October to 3.8% in November. France's GDP growth rate for Q3 2023 was -0.1%, down from 0.6% in Q2 2023, primarily due to a decrease in net trade, with exports falling by 1.0%. However, household consumption rebounded, and public spending increased, while fixed investments fell due to a weak construction sector.

Largest BlackRock Shareholders: Who Owns the Most BLK Stock in 2024?

29 Nov 2023  |  techopedia.com
BlackRock, an investment and asset management company based in New York City, has a strong global presence and reached $10 trillion in assets under management by the end of 2023. The company's shares are held by institutional and individual shareholders, with institutional investors owning 48.57% of the stock. The top five institutional shareholders include Vanguard Group and State Street Global Advisors. Among individual shareholders, the founders and long-time employees hold significant stakes, with Larry Fink being the largest individual shareholder. The article details the shareholdings and roles of key individuals and institutions in BlackRock.

Here’s why Chinese fashion giant Shein is eyeing a US IPO in secret

28 Nov 2023  |  www.euronews.com
Chinese fashion giant Shein, headquartered in Singapore, is preparing for a secretive US IPO early next year. The company, valued at an estimated $60 billion in May, could reach up to $90 billion according to Bloomberg. Shein has engaged JPMorgan Chase, Morgan Stanley, and Goldman Sachs as lead underwriters for the IPO. The decision to file secretly may stem from a turbulent US IPO climate and recent challenges faced by Chinese companies listing in the US, such as Didi's delisting following a cybersecurity review. Shein also faces potential scrutiny from the SEC over accusations of forced labor and import tariff avoidance. Despite these challenges, the IPO could help Shein compete with rivals like Amazon.

Why are Australian firms investing billions in Europe?

28 Nov 2023  |  www.euronews.com
Australian pension funds are significantly increasing their investments in the UK and Europe, driven by the Australia-United Kingdom Free Trade Agreement and favorable investment conditions. IFM Investors and Aware Super have announced multi-billion dollar commitments towards UK infrastructure, energy, and real estate projects. The UK’s welcoming stance towards foreign investments and strategic importance in accessing European and North American markets are key factors. Major Australian funds like AustralianSuper and Australian Retirement Trust are also expanding their international presence to capitalize on these opportunities.

Markets' week ahead: Lagarde speech and OPEC+ meeting in focus

27 Nov 2023  |  www.euronews.com
European stocks fell on Monday due to declining energy prices and sluggish industrial profits in China. The market is anticipating ECB President Christine Lagarde's speech for insights on monetary policy. Gold prices surged, driven by a weaker dollar and expectations of the US Federal Reserve ending its monetary tightening. Pharmaceuticals and steel stocks performed well, with Sanofi and ArcelorMittal seeing gains, while banking stocks like BNP Paribas and Société Générale declined. Key economic indicators to watch this week include consumer confidence indexes from Germany, France, Turkey, and Italy, as well as inflation and retail sales reports from Spain and Germany.

Switzerland and Iceland are the highest paying countries in Europe

24 Nov 2023  |  es.euronews.com
Switzerland and Iceland are the highest paying countries in Europe, with significant variations in salaries across EU member states due to factors like labor legislation, demand, and inflation. In 2022, Switzerland had the highest average annual salary at 106,839 euros, followed by Iceland at 81,942 euros. The European Commission has been working to reduce the gender pay gap, which increased to 13% in 2023. High salaries in Switzerland are attributed to its banking sector and low taxes, while Iceland's wages are influenced by collective bargaining and high living costs. The article also highlights the impact of inflation and geopolitical events on wages and living costs across Europe.

Switzerland and Iceland - Countries with the Highest Salaries in the EU and Eurozone

24 Nov 2023  |  ru.euronews.com
Switzerland and Iceland lead the EU and Eurozone in terms of highest average annual salaries, with Switzerland at €106,839.33 and Iceland at €81,942. Factors influencing these high salaries include a strong banking sector in Switzerland and collective bargaining agreements in Iceland. The article also highlights the significant wage disparities within the EU, with Bulgaria having the lowest average salary at €12,923.66. The European Commission has been working on strategies to address gender pay gaps and wage transparency. Economic conditions, inflation, and geopolitical events like the Russia-Ukraine war and the Israel-Hamas conflict are also discussed as factors impacting wages and living costs across Europe.

Manufacturing sector improves but UK economy not out of the woods yet

23 Nov 2023  |  www.euronews.com
The UK S&P Global/CIPS Manufacturing PMI for November rose to 46.7, indicating a slower contraction in the manufacturing sector. Despite this improvement, employment levels and new orders continued to fall, reflecting ongoing economic struggles. Matthew Ryan from Ebury highlighted the positive aspects of the PMI data but cautioned about the fragile growth outlook. The UK Services PMI also showed slight improvement, but new business orders and profit margins were impacted by higher interest rates and rising wages. Bank of England Governor Andrew Bailey emphasized the persistence of high pay growth and the potential for future rate hikes due to geopolitical risks.

The great delisting: Why European companies are moving to US exchanges

23 Nov 2023  |  www.euronews.com
European companies are increasingly delisting from home exchanges in favor of US ones like the New York Stock Exchange and NASDAQ, driven by higher valuations, larger markets, and favorable US policies. Notable companies making this move include Flutter Entertainment, CRH, Smurfit Kappa, and Arm Holdings. The trend poses challenges for the UK and European exchanges, which are struggling to retain companies despite government efforts. The US market's dominance, economic growth, and investment opportunities, particularly in tech and green sectors, are key attractions. European exchanges need to offer more incentives and ease regulations to keep companies local.

Nvidia revenue triples on Artificial Intelligence chip rally

22 Nov 2023  |  www.euronews.com
Nvidia reported a significant revenue increase to $18.12 billion for Q3, driven by high demand for GPUs, surpassing analyst expectations. The company also announced strong earnings per share and net income. Data center and gaming revenues saw substantial growth. Nvidia anticipates continued revenue growth in the next quarter but warns of potential impacts from US export controls and the Israel-Hamas conflict. The company is developing new compliant products to mitigate export restrictions. The AI market, particularly due to ChatGPT, continues to drive demand for Nvidia's products.

Why is Germany having a budget crisis and freezing spending?

How do average salaries compare in Europe?

20 Nov 2023  |  fr.euronews.com
European regulations on employment are strict, focusing on individual working conditions and rights. However, there are significant variations in salaries across EU member states due to factors like laws, demand, and inflation. In 2022, average annual salaries ranged from €73,642 in Iceland to €24,067 in Greece. The EU's average hourly labor cost was €30.5, and the average annual salary for single workers without children was €26,136, while couples with two children earned €55,573. The unadjusted gender pay gap was 12.7% in 2021, expected to increase to 13% in 2023. The EU aims to close this gap by 2025, launching a transparency directive in June 2023 with a €6.1 million fund. High-paying sectors in Europe include finance, insurance, IT, and education, while the lowest-paying are administrative support, hospitality, and construction. High salaries in Iceland and Luxembourg are attributed to collective bargaining and a strong financial sector, respectively. Switzerland and Belgium also offer attractive salaries due to low taxes and wage indexation. Greece's low salaries are due to the sovereign debt crisis and labor market measures targeting young trainees.

Unified Europe and Different Salaries: Where is the Pay Better?

20 Nov 2023  |  ru.euronews.com
In the European Union, employment is strictly regulated, focusing on individual work conditions and workers' rights. However, significant disparities in salaries across EU countries persist, influenced by factors like inflation and consumer demand. According to Statista, in 2022, average annual salaries ranged from €24,067 in Greece to €73,642 in Iceland. The highest-paying labor markets were Iceland, Luxembourg, Switzerland, Belgium, and Denmark, while the lowest were Greece, Slovakia, Hungary, Portugal, and the Czech Republic. Eurostat reported an average hourly labor cost of €30.5 in the EU and an average annual salary of €26,136 for single workers without children. The unadjusted gender pay gap in 2021 was 12.7%, with Estonia having the highest and Luxembourg the lowest. The European Commission predicts the gap will reach 13% by 2023. To address the pay gap, the EC's Pay Transparency Directive came into effect in June 2023, backed by a €6.1 million fund. High salaries in Iceland and Luxembourg are attributed to collective bargaining agreements and a high cost of living, respectively. Other countries like Switzerland, Belgium, and Denmark have unique labor market models contributing to their salary levels. Greece's economy still suffers from the sovereign debt crisis, and Portugal faces low productivity and a trend towards hiring short-term seasonal workers.

German producer price index slides for fourth consecutive month

20 Nov 2023  |  www.euronews.com
Germany's producer price index fell by 11% year-on-year in October, marking the fourth consecutive month of decline, driven by lower energy and metal prices. The drop is attributed to last year's inflated commodity prices due to the Russia-Ukraine war and subsequent market adjustments. Energy prices saw a significant decrease, with electricity and petroleum products also falling. Despite the overall decline, non-durable and durable goods prices increased. The European Central Bank may consider this data in its next monetary policy decision. Germany faces weakening demand, particularly in energy, and subdued housebuilding, though the European Union remains optimistic about the country's economic growth.

How are European companies exposed to China’s struggling property sector?

18 Nov 2023  |  www.euronews.com
China's property sector has been struggling, affecting major developers like Evergrande and others. European companies with exposure to this sector, such as Ashmore Group and investment funds, have seen their performance decline. European carmakers and chemical companies also face complexities due to their investments in Chinese real estate. The IMF predicts a slowdown in China's economy and suggests further stimulus measures are needed. US companies like Apple and Tesla, with significant manufacturing presence in China, are also impacted.

Weekly markets wrap: European shares shine as US inflation slows

17 Nov 2023  |  www.euronews.com
US inflation fell to 3.2% in October, leading to a positive response in European stock markets. The French CAC 40 index rose by 2.20%, with notable gains from companies like STMicroelectronics, Worldline, and ArcelorMittal. However, some companies like Alstom and TotalEnergies faced declines due to various challenges. The US 10-year Treasury bond yields and the US dollar index also saw declines.

Following a string of West African military coups, Angola may be poised at the brink of becoming Africa's next top oil producer. This is especially as Nigeria is further crippled by increased oil thefts and Libya deals with political strife.

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