Economy
French deficit worsens to 'very rare' level
France's budget deficit overshot forecasts in 2023, official figures showed Tuesday, undermining President Emmanuel Macron's pledge to bring national finances back on track within the next four years. - 'Meltdown' - Le Maire said Tuesday he stood by France's objective of bringing the deficit back below three percent of GDP by 2027, promising his "total determination" to do so.
Spain takes stake in Telefonica after Saudi deal concerns
Spain's government has acquired a three-percent stake in telecoms giant Telefonica following concerns over a Saudi firm taking a piece of a company that Madrid considers strategically important. Spain's government said the move to acquire a stake in Telefonica was in line with its European neighbours, which also own small minority stakes in their leading telecoms operators.
Sri Lanka cuts key interest rates, seeks China deal
Sri Lanka's central bank cut interest rates Tuesday as the prime minister visited China seeking a debt restructuring deal crucial to maintaining an IMF bailout. "We are in the final stages of restructuring our foreign debt and the prime minister is in China for this purpose," Gunawardana told reporters in Colombo.
Olympics tech firm Atos posts huge loss but says Games unaffected
Debt-ridden French IT group Atos, the cybersecurity and data provider for the Paris Olympics, posted a huge annual loss Tuesday but vowed that its troubles would not disrupt the Games. Atos' cybersecurity arm, Eviden, will provide cybersecurity to the entire information system for the Games, the Olympic sites, personnel and volunteers.
Swiss chocolatiers bank on the Easter bunny as cocoa costs soar
Swiss chocolatiers have a battle on their hands as Easter rolls around, with surging cocoa prices sending their costs soaring and consumers cutting back as inflation hits their pockets.
Asian markets fluctuate as traders weigh US rate outlook
Asian stocks swung through the morning session Tuesday as traders weighed the outlook for US interest rates ahead of the release of a key inflation reading. Readings on economic growth, jobless claims and business sentiment are also up for release.
Ousted WeWork co-founder bids to buy company: reports
Ousted WeWork co-founder Adam Neumann recently bid more than $500 million to buy back the struggling office-sharing group, according to media reports Monday. Neumann recently submitted the offer, but it was not clear how he would finance such a deal, the Wall Street Journal and CNBC reported, citing sources close to the matter.
Deutsche Bahn and train drivers reach deal in wage dispute
Germany's Deutsche Bahn rail operator and the GDL train drivers' union have reached a deal in a wage dispute that has caused months of crippling strikes in the country, the union said on Monday. "The German Train Drivers' Union (GDL) and Deutsche Bahn have reached a wage agreement," GDL said in a statement.
Iraq Central Bank says regulated dollar transactions rising
Iraq, fighting a booming currency black market, has considerably increased overseas dollar transactions through the official global SWIFT system, the Central Bank vice governor said on Monday.
Economy
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