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Eurozone economy shrinks in third quarter, inflation falls further
Eurozone economy shrinks in third quarter, inflation falls further
Business and Economy
by  AFP

Economic growth in the eurozone contracted in the third quarter, data showed Tuesday, hit by the European Central Bank's painful rate-hiking campaign and Germany's weakening economy, but inflation slowed in October. Consumer price inflation in the eurozone has slowed to 2.9 percent, Eurostat data for October showed Tuesday, the lowest rate since July 2021 when it reached 2.2 percent.

Vodafone sells Spain unit for up to 5.0 bn euros
Vodafone sells Spain unit for up to 5.0 bn euros
Business and Economy
by  AFP

British mobile phone giant Vodafone announced Tuesday the sale of its Spanish division to investment fund Zegona for up to 5.0 billion euros ($5.3 billion), as part of an ongoing overhaul. The price comprises at least 4.1 billion euros in cash and up to 900 million euros in preference shares.

Stellantis confirms 2023 outlook despite US strike
Stellantis confirms 2023 outlook despite US strike
Business and Economy
by  AFP

Automaker Stellantis confirmed Tuesday its 2023 outlook thanks to a jump in third quarter revenue despite a costly strike in the United States. The company said that the more than month-long strike by staff in the United States, which has ended following a tentative agreement struck Saturday, had a negative impact of around 3 billion euros on revenue compared to planned production.