Browsing: Business

Volkswagen AG signed an agreement to hand over its Osnabrück assembly plant to private equity group Aurelius Capital and the state government of Lower Saxony in a pivotal move to pivot unused automotive capacity toward European military production. As passenger car

Russia’s non-resource non-energy industrial exports rose to $58.8 billion during the first half of 2026, driven by expanded shipments of chemical products, metallurgy, and light industrial goods. Ministry of Industry and Trade of the Russian Federation Minister Anton Alikhanov confirmed

The Brazilian government announced on Thursday that it is preparing potential reciprocal trade measures against the European Union if bilateral negotiations fail to reverse a newly enacted European ban on Brazilian animal products. The diplomatic rift escalated after a deadline

Euro area annual inflation rose to an estimated 3.3% in August 2026, from 2.9% in July. Energy prices increased sharply during the month. Eurostat reported the flash estimate on Sept. 1. The inflation rate had stood at 2.8% in June

Surging energy costs rattled Wall Street as a sharp uptick in crude oil prices sparked fresh fears of persistent inflation and central bank interest rate hikes. The Dow Jones Industrial Average dropped 380 points during the decline, with broader market

The Bank of Russia projects an average key rate of 13% to 15% in 2027 under its proinflationary scenario. The forecast forms part of the central bank’s Monetary Policy Guidelines for 2027 to 2029. Russia’s key interest rate stood at

Russia plans to raise annual vehicle production to about 2.8 million units by 2035 under its updated automotive industry strategy. First Deputy Prime Minister Denis Manturov presented the target on Aug. 31 during a meeting on the sector’s development. The

Oil prices fell again Thursday, extending a multi-day decline as markets tracked developments around the Strait of Hormuz. Brent crude futures dropped 41 cents, or 0.5%, to $87.43 a barrel at 0330 GMT. West Texas Intermediate crude futures fell 37

Hungary will keep its revised 2026 budget deficit target at 7.5% of gross domestic product. The Finance Ministry confirmed the target as the government prepares to amend this year’s budget. Officials cited the fiscal position, severe drought and higher energy

The European Union recorded a €21.8 billion goods trade deficit in the second quarter of 2026, its first quarterly deficit since 2023. Imports from outside the bloc reached €701.8 billion, while exports totaled €680.0 billion, Eurostat said. That marked a