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UK car sector fears for Trump tariffs as output falls
UK car sector fears for Trump tariffs as output falls
Business and Economy
by  AFP

Britain's vehicle production slid below one million units last year as the sector transitions to electric cars, an industry body said Thursday as it warned over US President Donald Trump's tariff threats. Output is forecast to decline further this year to 839,000 units before returning to above one million vehicles in 2028, it added.

French economy shrinks as political crisis eclipses Olympic boost
French economy shrinks as political crisis eclipses Olympic boost
Business and Economy
by  AFP

The French economy grew 1.1 percent in 2024 but shrank in the fourth quarter as a political crisis gripped the country after a boost from the Paris Olympic Games, official data showed Thursday. The institute had expected the economy to post zero growth in the October-to-December period after growing by 0.4 percent in the third quarter, which includes the summer months of the Olympic games.

EU holds auto talks to revive embattled car sector
EU holds auto talks to revive embattled car sector
Business and Economy
by  AFP

EU talks to relaunch Europe's embattled car industry are to get underway on Thursday, with automotive CEOs awaited in Brussels to discuss fines and competition from China. The car industry in particular has been plunged into crisis by high manufacturing costs, a stuttering switch to electric vehicles (EV) and increased competition from China.

ECB to look past Trump risk and push on with rate cuts
ECB to look past Trump risk and push on with rate cuts
Business and Economy
by  AFP

Despite US President Donald Trump's sabre-rattling, the European Central Bank is set to press on with interest rate cuts Thursday as officials increasingly voice confidence that the fight against inflation is on track. Felix Schmidt from Berenberg Bank was among economists predicting a fresh rate cut by the ECB Thursday, believing that inflation will ease in 2025.