Catalonia uncertainty hits Spain’s economy
Businessam Staff
November 6, 2017
Spain’s services industry took a hit last month during the crisis in Catalonia, dealing a blow to one of the euro area’s best-performing economies. IHS Markit’s monthly gauge fell the most in more than two years, dropping 2.1 points to 54.6, according to data published on Monday. While the gauge still signals growth, that’s the […]
German unemployment lowest since 1990
Businessam StaffNovember 2, 2017
The number of jobless people in Europe’s powerhouse has reached a new low, fresh data has shown. Germany’s labor market experienced its traditional autumn increase in employment in both adjusted and unadjusted terms. The number of unemployed people in Germany dropped below the 2.4-million mark in October, the lowest figure logged since German unification in 1990. […]
Eurozone economic confidence surges to highest level in almost 17 years
Businessam StaffOctober 30, 2017
Euro-area economic confidence surged to its highest in almost 17 years, reflecting an improved outlook for a region that not long ago was blighted by record joblessness and a double-dip recession. The index of industry and consumer sentiment rose to 114 in October from a revised 113.1 the previous month, the European Commission in Brussels […]
EU probes British scheme shielding multinationals from tax avoidance rules
Businessam StaffOctober 26, 2017
The European Commission today launched an investigation into whether a British scheme shielding multinational companies from tax avoidance rule breaks EU competition law. Brussels is cracking down on national governments bending state aid rules to give multinationals, such as US tech giants Apple and Google, unfair tax breaks and an advantage over other companies. “We […]
Turkey wealth fund seeks foreign loan, approaches China’s ICBC, others, sources reveal
Businessam StaffOctober 20, 2017
Turkey’s sovereign wealth fund has approached international banks including China’s ICBC for a loan, people with knowledge of the matter told Bloomberg, showing its first signs of life after more than a year of inactivity brought on by internal disputes over its strategy and management. The fund, known by its initials TWF, asked ICBC for […]
Brexit means we can become Europe’s go-to business destination, says Ireland’s deputy PM
Businessam StaffSeptember 25, 2017
Frances Fitzgerald, Ireland’s deputy prime minister said the country will leverage on its imminent position as Europe’s only English-speaking country to secure big economic gains. As the sole country sharing a land border with the United Kingdom, Ireland is widely expected to be the EU member worst-hit by Britain’s exit from the European Union in […]
Ukraine’s 2017 GDP growth may exceed forecast, central bank says
Businessam StaffSeptember 21, 2017
Ukraine’s gross domestic product (GDP) growth may exceed the official forecast of 1.6 percent in 2017 due to a strong performance of the economy in the second quarter, the country’s central bank said Wednesday. In April-June, the Ukrainian economy rose 2.3 percent year on year, significantly higher than the target of 1.5 percent, on the […]
Swiss economy set for worst performance in eight years
Businessam StaffSeptember 21, 2017
Switzerland’s economy will fall short of 1 percent growth this year, the government forecast Thursday, the weakest performance in eight years at least partly the result of a lack of global sporting events. Sluggish growth in the services sector was another factor in the State Secretariat for Economic Affairs (SECO) downgrade of its full-year growth […]
First wave of Brexit affects 10,000 UK finance jobs- survey
Businessam StaffSeptember 18, 2017
Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe’s single market, according to a Reuters survey of firms employing the bulk of workers in international finance. Frankfurt was by far the most popular destination for the new roles, […]
Paris overtaking City of London after Brexit, French economy minister predicts
Businessam StaffSeptember 13, 2017
Paris could be the “first financial place” in continental Europe within five to 10 years, a French government minister has claimed. Accordimg to Skynews, Benjamin Griveaux, Junior economy minister and a key ally of President Macron, made his remarks while on a visit to London, aimed at persuading companies to shift business from the UK […]