Europe

London Heathrow to invest $3 billion in upgrades over next two years

The airport invested £1.1 billion in 2024 and benefited over 1,100 supply chain partners in the UK

Euro area unemployment rate steady at 6.3 percent in October 2024

In October 2024, there were around 12.971 million people unemployed in the EU

U.K. house prices rise 3.9 percent to record high in October

London continues to have the most expensive house prices in the U.K., now averaging £543,308

European Council to mobilize $100 billion annually in climate finance through 2025

The council reaffirmed its commitment to climate finance and aims for new targets beyond 2025.

U.K. International Investment Summit to boost global trade, investment ties

Summit to feature senior executives from leading tech companies

Swiss National Bank lowers interest rate to 1.0 percent as inflation falls

Inflation fell to 1.1 percent in August from 1.4 percent in May, partly due to a stronger Swiss franc 

U.K. public sector net debt reaches 100 percent of GDP in August, borrowing hits $18.24 billion

The central government's total expenditure was £90.5 billion in August 2024, £6.1 billion more than in August 2023

Bank of England holds rates at 5 percent, boosting pound to over two-year highs

The Committee unanimously cut U.K. government bond purchases by $93.77 billion, reducing the total to $523.58 billion

U.K. housing market shifts positively as surveyors report first price balance in nearly two years

Expected sales for the next three months reached their highest level since January 2020, before the COVID-19 pandemic 

Amazon plans over $10 billion investment in U.K. data centers, supporting 14,000 jobs annually

Amazon has made direct investments of more than £56 billion in the U.K. between 2010 and 2022

Russia’s gold reserves rise 5.1 percent to $188.8 billion in August

For the first time in a quarter-century, the share of the precious metal in the country’s international reserves exceeded 30 percent

Euro area banks rebound as ECB begins rate cuts, disbursing $78.5 billion in loans in July 2024

This resurgence is encouraging for Europe’s banks, which heavily depend on mortgage lending for profits 

GDP grows by 0.2 percent in Euro area and EU in Q2 2024, reports Eurostat

This follows a GDP increase of 0.3 percent in both regions during the Q1 2024

ECB considers rate cuts as inflation reaches lowest levels since mid-2021, says official

Investors expect two or three more borrowing cost cuts this year, with additional actions in 2025 

EU approves $221 million subsidies to boost Germany’s offshore renewable energy infrastructure

New docking facilities on Germany's North Sea coast will handle heavy loads, including wind farm components

Germany’s manufacturing sector recession deepens further in August as new orders dip: PMI

Weak demand across supply chains led to a further decline in delivery times on inputs in August for the 22nd month in a row

Eurozone inflation hits 3-year low of 2.2 percent in August, signaling possible ECB rate cut next month

The inflation landscape is gradually improving, highlighting the progress toward the ECB's 2 percent target

59 percent of EU enterprises embrace digitalization in 2023

Finland emerged as the EU country with the highest level of enterprises reaching a very high level of digitalization at 13 percent

Sweden’s trade surplus grows to $640 million in July 2024

Non-EU trade surplus hit SEK 22.7 billion during this period

Business sentiment in Germany falls in August, economic recovery hopes down: Report

Business expectations fell to the lowest level since February as manufacturers once again reported declining order backlogs

Germany commits $3.89 billion to nature-based solutions for climate, biodiversity

This marks the largest investment ever in nature and climate protection in Germany, says minister

Eurozone inflation climbs to 2.6 percent in July, dampening ECB rate cut hope

Core inflation, excluding food and energy, held steady at 2.9 percent despite overall inflation rising