Business
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Business
A daily update on the latest business and economic news. Live from Monday to Thursday at 9:15am and 6:45pm Paris time.
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Crown jewels stolen from the Louvre estimated at €88 million
The jewellery stolen from the Louvre in Paris on Sunday is valued at 88 million euros, according to the Paris prosecutor citing the museum's curator. ...
US, Australia ink rare earths deal to curb reliance on China amid rising trade tensions
Washington and Canberra have signed a new agreement to strengthen cooperation on rare earths and critical minerals, in a bid to reduce dependence on C...
Amazon web services start to recover after major outage
Hit by a major outage, Amazon Web Services (AWS) says it found significant errors in its Domain Name System, or DNS, which translates website names to...
Chinese leaders meet to formulate country's next five-year plan
Chinese President Xi Jinping and Communist Party elites are in Beijing for the Fourth Plenary, where the roadmap for the country's industrial developm...
Trump says India's Modi has pledged to stop buying Russian oil
US President Donald Trump says Prime Minister Narendra Modi has agreed that India will stop buying Russian oil, as American tariffs hit Indian exports...
'It's a new common sense' Oxfam calls on governments to do more to tax the rich
Reintroducing a wealth tax has become a particularly divisive issue in France’s ongoing budget battle. In a world where the richest 1 percent hold mor...
French PM Lecornu pledges to suspend 2023 pension reform
In the face of an unprecedented political crisis, France's re-appointed prime minister Sébastien Lecornu proposed suspending President Emmanuel Macron...
US-China trade tensions escalate as tit-for-tat port fees come into effect
Port fees imposed by China and the US took effect on Tuesday, adding a new front to the trade war between the world’s two largest economies. In this e...
Trio of researchers share Nobel in economics for "explaining innovation-driven growth"
The 2025 Nobel Prize in Economics was awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their work on "explaining innovation-driven growth"...
Gaza's economy and infrastructure in ruins after two years of siege
Long reliant on humanitarian aid due to the Israeli blockade, Gaza’s economy is now in ruins –unemployment exceeds 80 percent, 92 percent of its priva...
Ferrari unveils chassis of its first electric car, but shares plunge as financial outlook disappoints
Ferrari has unveiled technology – new powertrain and chassis – that will power its first electric car, scheduled for launch next year. However, the It...
China further tightens export rules for rare earth elements crucial to tech sector
China's commerce ministry has announced it is imposing new rules limiting the export of rare earths and associated technology, including related to ov...
Outgoing French PM says will present draft budget next Monday
France's caretaker Prime Minister Sébastien Lecornu says he'll present a draft budget bill next Monday, adding that there is still "a lot to debate". ...
Gold reaches record highs and threatens supremacy of US dollar
The price of an ounce of gold soared past $4,000 on Tuesday, as investors move towards the safe-haven asset in response to mounting debt and other iss...
EU proposes halving steel import quota and doubling out-of-quota tariffs to 50%
The European Commission has moved to cut free-trade quotas by 47 percent for steel and steel products and to double out-of-tariff import duties to 50...
'There's gonna have to be a compromise' on French budget, Prof. Antonio Fatas says
With markets under pressure amid French political turmoil in the wake of Prime Minister Sébastien Lecornu's surprise resignation, we speak with Antoni...
Shutdown blame game: Republicans and Democrats trade accusations over funding halt
The United States has ambled into another government shutdown as Republicans and Democrats in Congress failed to pass a funding bill in time for the n...
US government shuts down, casting uncertainty over American economy
The US federal government entered a shutdown at midnight on October 1, leaving as many as 750,000 federal employees furloughed each day. In this editi...
Trump warns of "irreversible" actions in case of government shutdown
As the US Senate prepared to vote again on a stopgap bill to keep the government funded for a few more weeks, President Donald Trump said a government...
US government shutdown looms, potentially delaying key economic reports
As an October 1 deadline fast approaches for the US Congress to agree on a spending bill to keep the US government running, federal agencies have outl...
Gaming giant EA to be taken private in a $55bn deal
Electronic Arts, the company behind blockbuster video games such as the Sims and Madden NFL, has agreed to transfer ownership to a consortium led by S...
Lufthansa announces plan to cut 4,000 jobs in bid to boost profitability
German airline giant Lufthansa says it will axe 4,000 positions by 2030, chasing higher profitability after a steep decline last year. But first: US D...
French national debt rises to €3.4 trillion
France's public debt has risen above €3.4 trillion in the second quarter of this year, to 115.6 percent of GDP, new official data shows. It comes as t...
US tariffs, Chinese competition & limited fiscal space keep EBRD economies 'under pressure'
The European Bank for Reconstruction and Development (EBRD) released its latest growth projections this Thursday, outlining the challenges facing the...
Jimmy Kimmel returns to air, but not everywhere as local ABC-affiliates opt out
Comedian Jimmy Kimmel returned to US airwaves on Tuesday night following his suspension over comments he made in the wake of Charlie Kirk's assassinat...
Stellantis to suspend production at two European plants due to weak demand
Stellantis, the owner of Peugeot, Citroen, Fiat, Chrysler and other brands, has announced plans to pause production at two of its European plants – in...
Nvidia invests $100 billion in OpenAI in major tech deal
Chipmaking giant Nvidia announced on Monday that it would invest up to $100 billion in OpenAI to develop next-generation AI infrastructure and help se...
The mounting cost of war for both Palestinians and Israel
France has joined several of its European peers in formally recognising a Palestinian state. At a world summit in New York on Monday, French President...
US Federal Reserve cuts interest rates for first time in nine months
The US Federal Reserve has lowered interest rates by a quarter percentage point, bringing its benchmark rate to a range of 4.00 to 4.25 percent. All b...
Fed cuts rate amid job concerns: What it means for the housing market
On Wednesday, the US central bank cut its benchmark interest rate by 0.25 percent amid growing concerns about job creation in the country. In this edi...
As Trump makes state visit, Starmer bets on US tech to power UK growth
As US President Donald Trump makes his unprecedented second state visit to the United Kingdom, we take a look at the economic stakes at play. While fi...
Draghi warns Europe is falling further behind US, China due to government complacency
One year after releasing a far-reaching report on European competitiveness, former ECB chief Mario Draghi has warned the EU is falling further behind...
Trump's pressure campaign weighs on US Federal Reserve September meeting
A US court has ruled that Federal Reserve board governor Lisa Cook can stay in her job in spite of the president's attempts to fire her, meaning she s...
US, China reach framework deal on TikTok
The United States and China have reached a framework deal for the ownership of TikTok, following the latest round of trade talks held in Madrid. It's...
France faces series of credit rating tests amid political chaos
France faces a series of credit rating tests, with political chaos raising the risk of a downgrade. Also, US consumer prices rise at annual rate of 2....
Oracle co-founder Ellison briefly overtakes Musk as world's richest man
Larry Ellison, the 81-year-old co-founder of US business software company Oracle, briefly became the world's richest man on Wednesday after shares in...
French budget crisis: What are the counter-proposals?
Protests gripped France nationwide on Wednesday as the newly appointed prime minister, Sébastien Lecornu, assumed office. Protesters demonstrated thei...
The economic context of France's 'Block Everything' protests
As grassroots "Block Everything" protests take place all across France, we examine the economic conditions that are partly fuelling the discontent. Wh...
France's new PM tasked with forging consensus on 2026 budget
French President Emmanuel Macron has picked defence chief Sébastien Lecornu as his new prime minister, a day after François Bayrou was voted out by pa...
What's next for France's budget after Bayrou government collapses?
The collapse of PM François Bayrou's government after losing a confidence vote in the French National Assembly on Monday is casting a long shadow over...