European carriers are enduring higher costs because they have to avoid Russian airspace, while a sluggish economy and geopolitical tensions are hurting business travel to China.
Category: Europe
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ECB Cuts Interest Rates Again as Eurozone Inflation Slows
Policymakers who set interest rates for the 20 countries that use the euro have lowered rates in back-to-back meetings for the first time since 2011.
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Walgreens Says It Will Close 1,200 Stores
The pharmacy giant said it would close the stores over the next three years and plans to “redeploy” the majority of the workers at the closed stores.
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China to Penalize European Brandy Imports, Striking Back at Car Tariffs
Beijing’s action came days after European nations moved toward tariffs on electric vehicles from China, and it included a threat to also hit pork and car imports.
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Fears of a Global Oil Shock if the Mideast Crisis Intensifies
The threat of an escalating conflict between Israel and Iran has created an “extraordinarily precarious” global situation, sowing alarm about the potential economic fallout.
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Tesla Sales Increase, Suggesting Electric Car Demand Is Rebounding
The automaker reported a gain of 6.4 percent for the latest quarter, its first such increase this year.
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Eurozone Inflation Slows to 1.8%, Bolstering Bets on Faster Rate Cuts
Investors now expect the European Central Bank to lower interest rates at its next meeting in October.
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Backlash Erupts Over Europe’s Anti-Deforestation Law
Leaders around the world are asking the European Union to delay rules that would require companies to police their global supply chains.
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Chinese Automakers’ Answer to E.U. Tariffs: Build in Europe
BYD, which leads China’s electric vehicle sector, is constructing a plant in Hungary while its Chinese rivals expand through joint ventures in Europe.
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Google and Apple Lose Appeals in Landmark E.U. Cases
The cases had established the European Union as the world’s leading tech watchdog, but have since raised questions about its protracted appeals process.
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Battery Maker Northvolt to Cut Costs as E.V. Demand Slumps in Europe
The Swedish battery manufacturer said it would eliminate jobs and seek partnerships as it grapples with competition from China.
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A Frenzied Summer Leads to a Tourism Backlash in Europe
Overwhelmed destinations made high-season visitors the targets of a major tourism backlash. Heat waves and fires only added to the pressure.