Britain’s finance minister calls for spending discipline but no return to austerity
U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, saying her budget proposals will look to rebuild the country.
Battery giant Northvolt to cut 25% of workforce in Sweden as part of a major cost-cutting drive
Battery maker Northvolt on Monday announced plans to cut a total of 1,600 jobs in Sweden as part of a major cost-cutting drive.
Europe careens toward a downturn as its biggest economies fight crises at home
With both Germany and France fighting political and economic woes, analysts say there’s a danger of a leadership vacuum and more fragmentation.
TSMC and Samsung in talks with UAE to build chip megafactories, WSJ reports
Discussions are still in the early stages, according to the outlet.
European markets flat as French and German PMIs point to renewed downturn
European stocks were flat in early trade as German and French business activity data pointed to renewed declines in the region’s two largest economies.
A stunning sterling rally is about to collide with Britain’s political realities
The pound’s rally on the back of the Bank of England communication “looks fully justified,” Chris Turner, global head of markets at ING, said.
CNBC Daily Open: Some aren’t convinced of a soft landing
Last week’s burst of euphoria was mostly driven by anticipation and celebration of the Fed’s rate cut. Markets this week will look at the hard data coming out.
China’s central bank injects cash, lowers 14-day reverse repo rate
China’s central bank injected 14-day cash into the banking system for the first time in months at a lower rate, signaling a move to ease monetary conditions.
Gen Z and millennials are increasingly ‘doom spending.’ Here’s what it is and how to stop it
‘Doom spending’ is taking off among young people, as life goals such as owning a home or starting a family feel increasingly out of reach.
China’s youth unemployment hits fresh high amid economic slowdown and restrictive hiring policies
The jobless rate for people in China ages 16 to 24, and not in school, rose to 18.8% last month. That’s up from 17.1% in July, and 13.2% in June.
