Western Europe

Italy?approved a 2-percentage point hike in the IRAP -corporate tax for energy firms on Wednesday. This will help fund a set of measures aimed to reduce bills for families and businesses that use a lot of energy. A decree viewed by revealed that the move will bring in an extra 1 billion euros (1,18 billion dollars) to the government through 2028. This money will be used to finance the energy bill reductions planned. Meloni, in a social media video, said that the package would have a "significant impact" and guarantee benefits to households and businesses of over 5 billion Euros....

Three trading sources said that global oil firms and traders, including Vitol Trafigura, and TotalEnergies, won the tenders for supplying gasoline and diesel to Libya. The country is allowing large Western players greater access, and reducing imports of Russian petrol. Libya has been overhauling its oil industry for 15 years, following the fall of Muammar Gadhafi. The country produces 1.4 million barrels of crude oil a day, but does not have the refinery infrastructure necessary to process it. It is therefore dependent on fuel imports. Africa's second largest oil producer has changed the way it buys fuel and sells oil...

On Tuesday, Berkshire Hathaway announced a new investment into the New York Times. This marks its return to a sector that Warren Buffett abandoned in 2020 after he sold off his conglomerate’s newspaper business. In after-hours trading, shares of the Times increased by 4% to $76,99. Berkshire reported that it held about 5,07 million Times shares valued at $351.7 million by the end of 2025 in a filing to the U.S. Securities and Exchange Commission. Berkshire filed its U.S. listed stock holdings, which made up the majority of equity in the Omaha-based company. Berkshire also said that it sold 4%...

Investors assessed the risks of a supply disruption after Iran conducted naval exercises near the Strait of Hormuz, just before nuclear talks with the U.S. that day. Donald Trump, the U.S. President, said on Monday that he will be "indirectly involved" in the Geneva talks. He also stated that he believes Tehran is interested in a deal. Trump stated at the weekend that a regime change in Iran would be "the best thing to happen." Brent crude futures fell 0.2% to $68.59 per barrel at 0106 GMT after a 1.3% rise on Monday. U.S. West Texas Intermediate crude oil was...

The Financial Times reported that four EY partners had left the firm because they violated independence rules during their audit of Shell, which led to the termination of the $66 million contract. The report stated that the exits occurred last December, as the accounting firm was rushing to contain the fallout of the 'compliance failures. Shell didn't respond to an immediate?' Shell did not respond immediately to a?'Einenajungiodată conving?zeugnemsprachhneé Ihre EY declined to make sprach EY declines to comment. Shell stated in a July 2025 regulatory filing that EY violated "rules" that require an accounting firm to switch its lead...

The Financial Times reported that four partners had left EY after potential breaches in its audit of Shell, which led to the oil major dropping the accounting firm as its auditor. According to the report, public records and sources familiar with the matter indicate that the partners of one of the "Big Four" accounting and consulting networks left in December. It said that among the four partners who left was a partner who was?ascended to EY's highest ranks only a few months earlier and Gary Donald who led Shell audit. Earlier this month, Shell said it had chosen PricewaterhouseCoopers (PWC)...

On Wednesday, top business leaders called on the European Union to take urgent action to lower energy prices. They said that this was crucial for European industries to be able to compete with the U.S. The message from the industries was timed to land just before EU leaders meet in a Belgian Castle on Thursday for a "retreat". They will discuss how Europe can compete with China and America economically. In a written declaration, CEOs from the city of Antwerp stated that the next five years would be the most challenging in Europe's industrial history. The outcome of the crisis...

TotalEnergies, a French oil major, reported a 13% decline in its fourth-quarter earnings on Wednesday. This was slightly below expectations, as the company's soaring margins from refining fuels, and cash generated by selling stakes in renewables assets, failed to compensate for lower oil and natural gas prices. Total reported a fourth-quarter net profit of $3.8 billion (3,2 billion euros), down from $4.4 billion the year before. According to a LSEG consensus, analysts had predicted $3.9 billion. Total, in an 'year marked by a near doubling of its debt as a result of a series of acquisitions has reduced its share...

Two sources familiar with the matter said that TotalEnergies, the French oil giant, has acquired the remaining 45% of Lukoil's stake in the Zeeland Refinery, located in the Netherlands. Sources did not know whether Total paid for the shares, and if so, how much. Or if they engaged in another agreement, such as a swap of assets with Total's Russian projects, to gain full control. TotalEnergies declined comment. Lukoil didn't immediately respond to an inquiry for comment. In October, the U.S. Treasury issued sanctions against Lukoil to try to pressurize Russia to 'end its war with Ukraine.' This prompted the...

On the first full day of the Milano Cortina Winter Olympics, thousands of people protested in the streets of Milan on Saturday over rising housing costs and concerns about the environment. The march is being organised by housing rights groups, grassroots unions and community centre activists. It aims to bring attention to what activists describe as an unsustainable city model, marked by rising rents and increasing inequality. The Olympics bring to an end a decade of property boom in Milan following the 2015 World Expo. Locals are squeezed by rising living costs, as an Italian tax plan for wealthy new...

On the first day of the Winter Olympics in Milano Cortina, thousands of people are expected to march on Saturday through Milan as a protest against housing costs and urban affordability. The march is being organised by housing rights groups, grassroots unions and community activists from the social centre. It will highlight what activists are calling an unsustainable city model characterized by rising rents and increasing inequality. After the 2015 World Expo in Milan, the city has experienced a boom in the property market. Locals have been squeezed by rising living costs, as Italy's tax system for new wealthy residents...

In a statement issued on Saturday, the UILM (Italian Metalworkers' Union) said that Stellantis-backed Automotive Cells Company told unions they had dropped?plans for building gigafactories both in Italy and Germany. ACC, a joint venture for battery manufacturing in which Stellantis was the largest shareholder, planned to build three gigafactories across Europe - in France, Germany, and Italy. UILM, however, said that ACC management informed them of the "definitely shelved" projects planned for Termoli in Italy and Kaiserslautern in Germany. In a statement released on?Saturday, ACC stated that projects in Germany and Italy have been in standby status since May '2024....

Eramet shares plunged by 22% in France on Thursday, after the company announced a huge drop in its annual earnings and that it was planning to sell assets and increase capital. The mining and metalurgical group announced on Wednesday a core adjusted profit of 372 millions euros ($439million), down 54% since 2024. This was due to a variety of unfavourable circumstances, from low prices to production setbacks. The company also announced that it would not pay dividends in the next two-year period, putting the shares on a course to their worst trading day ever since December 2018. Varun Sikka, an...

French mining group Eramet announced on Wednesday that it would?launch an 500 million euro capital increase ($590.40 millions) and consider selling stakes to some activities in 2026, after a decline in earnings and an increase in debt in the past year. The nickel, manganese, and lithium producer announced the measures at a time when it is also facing a'management crisis' following the firing of the former CEO Paulo Castellari as well as the suspension of the?finance director Abel Martins Alexandre in a matter of days earlier this month. Christel Bories has temporarily taken over the CEO role that she handed...

The price of copper rose on Wednesday after a drop to a low that was more than a week old. Investors bought the dip, and industrial metals prices followed a rebound in tech stocks. As of 1700 GMT the benchmark?copper price on?the London Metal Exchange had risen 2.2% to $12,893 per metric ton, having earlier climbed to $12,941. The metal fell 1.8% Tuesday, reaching its lowest level since February 6. Due to the Lunar New Year, traders in China, a major metals consumer, were mostly absent. Tom Price, a Panmure Liberum analyst, stated that traders "rarely leave significant capital on...

Three people with knowledge of the matter have said that Thyssenkrupp is looking at separating, listing or selling its materials trading division this year. They are also considering changing the legal structure to maintain control in the event of a major sale. Thyssenkrupp Materials Services MX, which represents more than a quarter of Thyssenkrupp sales, is another step forward in the overhaul of the group under CEO Miguel Lopez. This comes after a spinoff of its Defence division and as talks continue to be held about selling its Steel unit. MX, with 11.4 billion euros in sales and more than...

Data from the German Statistical Office revealed on Wednesday that the number of housing permits rose for the first time in 2025 after three years of declines. The office reported that permits were granted last year for the?construction?of 238,500 residential units, in both new and existing buildings. This represents a 10.8% increase compared to 2024 when they reached their lowest level since 2010. The number of building permits reported is a good indicator of future construction. In recent years, the industry has been impacted by rising interest rates and high material costs. Verena Hubertz, German Minister of Construction, said that...

These are the most popular stories from the Wall Street Journal. These stories have not been?verified' and we cannot vouch for their accuracy. U.S. steelmaker Steel Dynamics and?Australian conglomerate SGH have submitted an offer that valued BlueScope Steel's equity at approximately $11 billion. They said they would not raise the price unless another bidder emerged. Warner Bros. Discovery announced?on Tuesday that it would restart deal negotiations with Paramount, setting the stage for a possible bidding war between Netflix and its preferred suitor. Paramount sweetened last week its hostile $77.9billion all-cash offer for Warner Discovery including its cable channels CNN and...

The price of copper fell on Tuesday due to a'stronger dollar' and a rise in inventories at London Metal Exchange-registered storage facilities, as well as low trading volumes because of the Chinese Lunar New Year holiday. Benchmark three-month "copper" on the London Metal Exchange fell 1.8% to $12,619 per metric ton at 1702 GMT, after reaching its lowest level since February 6 (12,586). Metal, which is used for power and construction, has fallen 13% since a record high was reached on January 29,?on the back of a wave speculative purchases, encouraged by expectations that demand would be strong. The high...

Antofagasta, a Chilean miner, posted a 52% increase in its annual core profit on Tuesday, as record prices for copper offset softer output. It also said that increased capital expenditures would support production over the medium-term. Analysts had expected that earnings before interest, tax, depreciation, and amortisation would reach a record of $5.2 billion in 2025, up from $3.43billion a year ago. This was due to the fact that copper prices rose by more than 40%. Antofagasta proposed a final dividend of 48 cents per share for 2025, bringing its dividend payout ratio to 50%. Since more than a decade,...

The Dutch state-owned financial institution Invest International will lend a total of $60 million to the chipmaker 'Nexperia, in order to finance a series of global investments at 'its production sites. The funds will be used to boost production, modernise the production lines and improve productivity. Nexperia in the Netherlands, a unit of China's Wingtech, was caught up in a corporate standoff with Europe after a Dutch state intervention installed an European management team last year. According to the Dutch newspaper FD, this move scared away investors and caused a global crisis in terms of chip supplies for the automotive...

Prices of copper fell on Monday, due to the?firmer dollar as well as a focus on increasing inventories and weak demand prospects during holiday trading. The London Metal Exchange's Wednesday settlement or rollover for maturing contracts and the Chinese Lunar New Year holiday this week, as well as the U.S. public holiday on Monday, will likely result in low volumes and volatile movements due to the expiring contracts and the holiday. As of 1700 GMT, the benchmark copper price on the LME was 0.2% lower. It stood at $12.845 per metric ton. It has fallen more than 11% from a...

Analysts praised a core profit that was above expectations and predicted a positive reaction to the shares. Rio de Janeiro-headquartered Vale, one of the world's largest iron ore producers, posted a $3.8 billion net loss for the October-to-December quarter, compared to a $694 million loss in the same period of 2024. Analysts polled at?LSEG expected a profit of $2.7 billion. Vale Base Metals reported a $3.5billion impairment of its?nickel assets located in Canada. This was "caused by a downward adjustment in long-term nickel prices based on market estimates". The company also noted a $2.8 billion write-off from deferred taxes assets...

Data from Benchmark Mineral - Intelligence (BMI), a consultancy, showed that global EV registrations dropped 3% in January due to the introduction of a EV purchase 'tax' and lower EV subsides in China as well as policy alterations in the U.S. Why it's important Global automakers with a large exposure to the U.S. have written down $55 billion over the last year. This is due to their scaling back of electric vehicle ambitions as they face a difficult U.S. marketplace under President Donald Trump. They also faced price wars and more complex vehicle types in Europe. The European Union, as...