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European Central Bank holds interest rates steady after 10 consecutive hikes

European Central Bank holds interest rates steady after 10 consecutive hikes

The European Central Bank headquarters. Daniel Roland | Afp | Getty Images The European Central Bank ended its run of interest rate hikes on Thursday, despite new upside risks to inflation from oil markets amid the Israel-Hamas war. The key rate is set to remain at a record high of 4%, where it was brought …

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Mercedes-Benz shares fall 6% as CFO warns on 'brutal' EV space

Mercedes-Benz shares fall 6% as CFO warns on ‘brutal’ EV space

Mercedes-AMG GT 43 4MATIC+ on display at Brussels Expo on January 9, 2020 in Brussels, Belgium.  Sjoerd Van Der Wal | Getty Images News | Getty Images Mercedes-Benz shares were sharply lower Thursday after the German carmaker reported a decline in profit and revenue as challenges from electrical vehicle competition to supply chains. Shares were …

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BMW says diversifying risks does not mean it is leaving China

BMW says diversifying risks does not mean it is leaving China

WUHAN, CHINA – MAY 25: (CHINA OUT) Attendees wear protective masks as they look around the at BMW Ix3 during 2023 Central China International Auto Show on May 25, 2023 in Wuhan, Hubei province, China. More than 80 brands took part in the 2023 Central China International Auto Show which started on Thursday. According to …

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Saudi Arabia working to deescalate unrest in the region, minister says

Saudi Arabia working to deescalate unrest in the region, minister says

Saudi Finance Minister Mohammed al-Jadaan on Wednesday discussed his country’s efforts to de-escalate what he called “recent events” in the Middle East region, without naming any of the parties involved.  “Our sympathy goes to those who are suffering, civilians, civilian casualties wherever they are, and international law needs to be respected — without international law …

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Amazon launches European 'sovereign' cloud as EU data debate rages

Amazon launches European ‘sovereign’ cloud as EU data debate rages

The Amazon Web Services (AWS) logo, a subsidiary of Amazon that provides on-demand cloud computing platforms to individuals, companies, and governments, displayed during the Mobile World Congress 2023 on March 2, 2023, in Barcelona, Spain. Joan Cros | Nurphoto | Getty Images Amazon on Wednesday said it will launch an independent cloud for Europe aimed …

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