Nokian Tyres of Finland made 80 percent of its tires in Russia, where energy was cheap. After losing billions, it prioritized political security over business efficiency.
Category: Europe
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Europe’s Inflation Issue Moves Into a New Phase: From Profits to Wages
The European Central Bank expects to bring down inflation, with a big caveat: Companies need to let profits fall as they pay for higher wages.
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Going to Europe This Summer? You’re Not Alone.
After three years of pandemic restrictions, travelers are flocking to Europe in record numbers, despite high airfares, limited accommodations and crowded sites. Here’s what you might encounter.
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European Central Bank Raises Interest Rates to Highest Level Since 2001
Inflation is “projected to remain too high for too long,” the central bank said as it raised interest rates by a quarter-point, its eighth consecutive increase.
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Google’s Ads Violate Antitrust Laws, E.U. Says
European Union regulators filed new antitrust charges against Google, which could lead to fines and orders for the company to change its business practices.
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World Bank Projects Weak Global Growth Amid Rising Interest Rates
A new report projects that economic growth will slow this year and remain weak in 2024.
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Why Are Food Prices So High in Europe? Sugar, Cheese and Bread Costs Soar
Agricultural and energy costs are falling, but basic items remain stubbornly expensive for consumers.
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Ingrid Haebler, Pianist Known for Her Mastery of Mozart, Is Dead
In concerts and on dozens of recordings, she applied a delicate touch that critics said set her apart from other performers.
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German Economy Slipped Into Recession in First Quarter
Consumer spending and exports fell in the first three months of this year, adding to a slump in late 2022 in Europe’s largest economy.
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How to Plan Around Strikes in Europe
Across Europe, workers have been walking out over pay disputes and labor conditions, and the turmoil will extend into the summer travel season. But they don’t have to disrupt your trip.