Page 3 - Europe

Levi Strauss considers possible sale of Dockers brand, shares drop by 10%

Levi is in the midst of a turnaround strategy to operate mainly by offering tighter assortment that focuses on core denim clothing

Inflation in Europe falls below 2%, paves way for faster interest rate cuts

Inflation in the 20 countries that use the euro fell to 1.8 per cent in September, below the European Central Bank's target of 2 per cent for the first time in more than three years as falling energy prices give consumers relief from a burst of inflation that at one point reached into double digits. Tuesday's official figure coupled with an anemic growth outlook could pave the way for faster interest rate cuts from the ECB, which has already trimmed rates twice. Inflation fell from 2.2 per cent in August, according to European Union statistics agency Eurostat. The last time inflation hit the ECB's 2 per cent goal was in June, 2021 when it was 1.9 per cent. Economists have started to consider the possibility of a rate cut at the bank's October 17 meeting. A few weeks ago, the expectations were that the central bank would wait until December before lowering borrowing costs again for consumers and businesses. The bank must juggle the need to make sure inflation is under control, which

Julian Assange to make first public statement since release from prison

Wikileaks founder Julian Assange will make his first public statements since he was released from prison when he addresses the Council of Europe on Tuesday. Assange, 53, is expected to give evidence to the legal affairs and human rights committee of the Parliamentary Assembly of the Council of Europe in Strasbourg, France. The Parliamentary Assembly, which includes parliamentarians from 46 European countries, said the hearing will discuss Assange's detention and conviction and their chilling effect on human rights" ahead of a debate on the topic on Wednesday. WikiLeaks said in a statement that Assange will attend the hearing in person due to the exceptional nature of the invitation. Assange was released in June after five years in a British prison after he pleaded guilty to obtaining and publishing U.S. military secrets in a deal with Justice Department prosecutors that concluded a drawn-out legal saga. Prior to his time in prison, he had spent seven years in self-imposed exile in

More Chinese heading to Europe, far-flung hotspots for Golden Week holiday

Bookings for overseas flights and hotels have spiked from last year's holiday week, with international flight reservations doubling and Europe showing some of the the biggest growth

Over 2 million customers without power in US southeast from Helene

Georgia Power meanwhile restored power to over 740,000 customers following Hurricane Helene, it said in its storm update on Sunday

Aston Martin warns of lower annual core profit on supply chain, China woes

An increasing number of cars were taking longer to complete and deliveries were getting delayed, it added

Volvo leads 50 companies urging EU to stick to combustion-engine ban

The 2035 target is crucial to align all stakeholders on this journey and ensure European competitiveness

Austrian far-right Freedom Party takes lead in election, shows data

The far-right Freedom Party had a lead over the governing conservatives in Austria's national election on Sunday and was well-placed for its first win in a parliamentary vote, a projection showed. But its chances of governing were unclear. The projection for ORF public television, based on partial counting, put support for the Freedom Party at 29.1% in the parliamentary election and Chancellor Karl Nehammer's Austrian People's Party at 26.3%. The centre-left Social Democrats were in third place with 20.9%. Herbert Kickl, a former interior minister and longtime campaign strategist who has led the Freedom Party since 2021, wants to become Austria's new chancellor on the back of the first far-right national election win in post-World War II Austria. But to become Austria's new leader, he would need a coalition partner to command a majority in the lower house of parliament -- and rivals have said they won't work with Kickl in government. The voter has spoken. Change is wanted in our ..

As CERN turns 70, it searches for ways to finance the next big thing

CERN Director-General Fabiola Gianotti is looking at new ways to fund research that spans the invisible dark matter

Europeans, Arab nations launch initiative for independent Palestinian state

European, Arab and Islamic nations have launched an initiative to strengthen support for a Palestinian state and its institutions, and prepare for a future after the war in Gaza and escalating conflict in Lebanon, Norway's foreign minister said Friday. Espen Barth Eide told The Associated Press that there is a growing consensus in the international community from Western countries, from Arab countries, from the Global South, that we need to establish a Palestinian Authority, a Palestinian government, a Palestinian state and the Palestinian state has to be recognized. Eide said many issues need to be addressed, including the security interests of Israel and the Palestinians, recognition and normalization of relations after decades of conflict and the demobilization of Hamas as a military group. These are pieces of a bigger puzzle, Norway's chief diplomat said. And you can't just come in there with one of these pieces, because it only works if all the pieces are laid in place. But e

Deadly flooding in Central Europe made twice as likely by climate change

Human-caused climate change doubled the likelihood and intensified the heavy rains that led to devastating flooding in Central Europe earlier this month, a new flash study found. Torrential rain in mid-September from Storm Boris pummelled a large part of central Europe, including Romania, Poland, Czechia, Austria, Hungary, Slovakia and Germany, and caused widespread damage. The floods killed 24 people, damaged bridges, submerged cars, left towns without power and in need of significant infrastructure repairs. The severe four-day rainfall was by far the heaviest ever recorded in Central Europe and twice as likely because of warming from the burning of coal, oil and natural gas, World Weather Attribution, a collection of scientists that run rapid climate attribution studies, said on Wednesday from Europe. Climate change also made the rains between 7 per cent and 20 per cent more intense, the study found. Yet again, these floods highlight the devastating results of fossil fuel-driven .

Commerzbank warns UniCredit merger threat to Germany's businesses

Earlier this month, UniCredit took a 9 per cent stake in Commerzbank, catching German authorities off guard.

Severe flooding across globe linked to climate-fueled rain storms

Different meteorological phenomena are behind the series of storms, according to climate scientists

June-August recorded as India's 2nd-hottest quarter since 1970: Scientists

India experienced its second-hottest quarter from June to August this year since 1970, with over one-third of the country's population enduring at least seven days of dangerous heat, according to a new report by a US-based group of climate scientists and communicators. The report from Climate Central said climate change made high temperatures over three times more likely on 29 days during these three months. "June through August 2024 was India's second-hottest season since at least 1970, when reliable satellite records are available," the report said, adding that India had the highest number of people exposed to climate change-driven temperatures in Southern Asia during this period. More than 20.5 million people endured high temperatures heavily influenced by climate change for at least 60 days, it said. More than 426 million people (about one-third of India's population) faced at least seven days of dangerous heat, with temperatures exceeding 90 per cent of the usual highs for the

EU court confirms Qualcomm's antitrust fine, with minor reduction

The chipmaker did not immediately reply to an emailed Reuters request for comment

Central Europe floods: Poland, Czech Republic evacuate amid 17 deaths

Torrential rains over the weekend severely impacted the Poland-Czech border, causing bridge collapses, evacuations, and major damage to vehicles and homes

Heavy rains in Central Europe cause flooding, leaving 16 dead in region

Exceptionally heavy rainfall pounding Central Europe has prompted deadly flooding in the region, with four new deaths reported Monday in Poland, three in the Czech Republic and one in Romania. The flooding has swamped parts of Austria, the Czech Republic, Poland and Romania as a low-pressure system crossing the region has unleashed record-high rains for days, and it was expected to affect Slovakia and Hungary later in the week. So far 16 people have been reported killed seven people in Romania, five in Poland, three in the Czech Republic and one in Austria. In Poland, Prime Minister Donald Tusk held an emergency meeting and later declared a disaster in flooded areas, a government measure to facilitate evacuation and rescues. He also said the government would provide 1 billion zlotys (USD 258,000) in immediate payouts to victims. The flooding in Poland has burst dams and embankments while receding waters left streets covered in piles of debris and mud. It prompted a hospital in the

French EU commissioner resigns after attacking Ursula von der Leyen

An influential French member of the European Union's powerful executive branch resigned on Monday, calling into question the leadership of European Commission President Ursula von der Leyen just as she tries to assemble a new team for the next five years. Thierry Breton, a French business executive and commissioner for the EU's vast internal market who recently clashed with tech billionaire Elon Musk, suggested that von der Leyen had gone behind his back to get another French official named in his place to the next commission. In a post on social media platform X containing his resignation letter to the EU's top official, Breton said that von der Leyen's move was further testimony to questionable governance - I have to conclude that I can no longer exercise my duties in the college. The commission proposes legislation for the 27 EU member countries and ensures that the rules governing the world's biggest trading bloc are respected. It's made up of a College of commissioners with a .

Germany conducts checks at land borders to crack down irregular migration

Germany on Monday began random checks at its borders with five Western European nations as it seeks to crack down on irregular migration, expanding a system of controls that are already in place at four other borders. The police controls began at the borders with France, the Netherlands, Belgium, Luxembourg and Denmark on Monday morning and are due to continue for six months. Germany has already been carrying out the checks at its borders with Poland, the Czech Republic, Austria and Switzerland since last year. Germany, a European Union member, announced last week that it was expanding border checks to all nine of its land borders this week as part of an effort to crack down on irregular migration and crime following recent extremist attacks. Last month, a knife attack blamed on a Syrian asylum-seeker in Solingen killed three people. The suspect claimed to be inspired by the Islamic State group. In June, a knife attack attributed to an Afghan immigrant left a police officer dead and

Washington's crackdown on cheap Chinese goods adds to Temu and Shein woes

The move threatens to reshape parts of the US retail arena and deflate the excitement that's accompanied the meteoric ascent of bargain bazaars like Temu, Shein and Alibaba's Aliexpress