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Mexico's new president tells investors their money is safe
Mexico's new President Claudia Sheinbaum on Tuesday promised to protect the rights of investors as she took office as the country's first woman leader, following a backlash over recent judicial reforms. US Ambassador Ken Salazar warned that the reforms would threaten a relationship that relies on investor confidence in the Mexican legal framework. dr/nro
Ireland unveils bumper budget with Apple tax cash boost
Ireland on Tuesday unveiled a 2025 budget that includes tax cuts and increased social benefits, and announced a huge surplus in 2024 thanks to billions of euros in Apple back-taxes. The state's 2024 finances have been boosted by 14 billion euros in back-taxes from Apple, after the European Court of Justice ruled in September that the iPhone maker benefited from undue tax advantages in the country.
French PM vows more taxes and spending cuts ahead of budget fight
France's new Prime Minister Michel Barnier pledged new taxes and spending cuts Tuesday to reduce a "colossal" debt, in a policy address that met with a raucous reception from lawmakers who could topple his government at any time. Opportunities to topple the government will abound in the coming months as ministers struggle to get a 2025 budget through parliament before year's end.
Germany inaugurates IBM's first European quantum data centre
Chancellor Olaf Scholz on Tuesday inaugurated US firm IBM's first quantum data centre in Europe, saying Germany aims to be at the forefront of the revolutionary technology. Scholz hailed the data centre as "good news for Germany", adding that Europe's biggest economy needs such "key technologies".
European airlines extend suspension of Middle East flights
Top European airlines Lufthansa, KLM and Swiss announced Tuesday they were extending their suspension of flights to the Middle East, as tensions spiral throughout the region.
France's richest man takes control of Paris Match magazine
Paris Match, a glossy French weekly known for its celebrity exclusives on Tuesday became part of the media empire of France's richest man Bernard Arnault, after a stint under right-wing tycoon Vincent Bollore's ownership.
US dockworkers launch mass strike month before election
Tens of thousands of workers at major ports on the US East and Gulf Coasts went on strike Tuesday in action that could drag on the world's largest economy just ahead of the November presidential election. ILA members began picketing at 14 major ports on the East and Gulf coasts soon after the announcement.
UAE oil giant ADNOC swoops on German chemicals firm Covestro
German chemicals group Covestro said Tuesday it had accepted a takeover bid from UAE state energy company ADNOC, as one of the key sectors in Europe's largest economy is gripped by crisis. - Chemicals crisis - ADNOC's bid for Covestro comes while the challenges facing the Germany's energy-intensive chemicals industry show no signs of abating.
Eurozone inflation falls under 2% for first time since 2021
The eurozone's annual inflation rate fell to its lowest level in three-and-a-half years in September, official data showed Tuesday, dropping below the European Central Bank's two-percent target and fuelling expectations of a rate cut. The slowdown in inflation comes after energy prices fell sharply by 6.0 percent in September, compared with a drop of 3.0 percent in August, Eurostat data showed.
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