International

European markets fell on Friday, with trading characterized by volatility as investors processed new economic indicators and the implications of potential interest rate cuts following remarks by US Federal Reserve Chairman Jerome Powell. By mid-morning, the pan-European Stoxx 600 index was down 0.43%, reflecting mixed performance across major stock exchanges and diversified sector results. Technology stocks suffered a notable decline of 1.82%, while sectors such as mining, oil and gas posted gains of more than 1%. Among decliners, Nordic Bavarian fell sharply, plunging 16% after announcing a drop in third-quarter revenue attributed to fluctuating demand for its vaccine. This decline…

Former French President François Hollande underlined the need for Europe to maintain unity in the face of growing US protectionism, especially regarding security and trade issues. His comments came shortly after Donald Trump's election victory, which raised concerns about potential economic challenges for the European Union, particularly his threat to impose a 10% tariff on European nations. This comes as Germany, a key economic hub for the region, grapples with economic hardship and political instability following the collapse of its coalition government. Additionally, there are growing concerns about the ongoing conflict in Ukraine and the possibility that the United States…

On 23 September 2024, Rachel Reeves, UK Finance Minister, gave a significant speech at the Labor Party Conference held at the ACC Liverpool Convention Centre. His speech outlined the Government's latest tax proposals, which have raised eyebrows among tech leaders and venture capitalists over the UK's ambitions to establish itself as a major global hub for artificial intelligence. Reeves revealed plans to increase capital gains tax (CGT), which is the tax levied on profits made from the sale of investments. The changes include increasing the lowest CGT rate from 10% to 18% and increasing the highest rate from 20% to…