UK, Australia and Germany unveil emergency fuel plans amid Iran crisis

As the American-Israeli military campaign in Iran enters its second month, governments around the world are rolling out emergency measures to shield their citizens from surging fuel and energy prices triggered by the closure of the Strait of Hormuz, a chokepoint that handles roughly 20 percent of global oil supply. British Prime Minister......

European solar power saved over €3 billion in fossil fuel costs during Iran war price surge

A new analysis has found that solar generation across Europe saved the continent more than €3 billion in fossil fuel import costs during March, as the war in Iran drove sharp increases in oil and gas prices and revived fears of an energy crisis across the bloc. The findings underscore how rapidly expanding renewable capacity is now functioning......

Former German finance minister Joerg Kukies joins Morgan Stanley

Joerg Kukies, the former German finance minister, will be joining Morgan Stanley, the U.S. bank announced on Wednesday. This move marks his return to senior banking roles following several years in government service. Kukies, a well-known figure in German finance, will initially work in London starting in May before relocating to Frankfurt......

Gazprom warns EU gas storage levels are dangerously low at 28%

Gazprom chief executive Alexey Miller described natural gas reserves in European Union storage facilities as dangerously low on Monday, warning that stocks may not even reach 70% of capacity before the next winter withdrawal season begins. Citing Gas Infrastructure Europe data as of March 28, Gazprom reported that EU storage sites were filled......

South Korea posts record $86 billion in exports as global factories stockpile ahead of supply disruptions

South Korean exports reached a record $86.13 billion in March as eurozone manufacturing activity hit a 45-month high, with companies worldwide rushing to build up material stockpiles in response to supply chain disruptions caused by the conflict in the Middle East. South Korea's Ministry of Trade, Industry and Energy announced Wednesday......

Macron urges Europe to build its own payment system to protect financial sovereignty

French President Emmanuel Macron called on Europe Tuesday to develop its own payment infrastructure, warning that ceding control of financial transactions to American companies would compromise the continent's sovereignty. The remarks, delivered by video message at the Carte Bancaire summit in Paris, represent the latest push by a European......

German economic institutes lower growth outlook and raise inflation forecasts

Germany’s leading economic institutes have revised down their growth projections for 2026 and 2027 while increasing their inflation forecasts, reflecting mounting economic pressures linked to rising energy costs. According to the updated outlook, economic growth in Europe’s largest economy is now expected to reach only 0.6% in......

German unemployment holds steady in March amid economic uncertainty

Germany’s unemployment figures remained stable in March, reflecting a labor market that shows resilience despite ongoing economic challenges. Official data indicate that the number of unemployed people held steady at around 2.98 million, with the jobless rate unchanged at 6.3%. Although spring typically brings a seasonal improvement......

G7 pledges action as energy crisis drives inflation surge in Europe

Finance and energy ministers from the Group of Seven met virtually on Monday alongside central bank governors as Europe faced mounting economic pressure from the energy shock linked to the conflict involving Iran. New data showed German inflation rising to its highest level in over a year, underscoring the scale of the crisis. In a joint......

Pound falls as European bond rout deepens amid energy shock

European government bond markets are facing one of their most severe sell-offs in nearly a decade, driven by surging energy prices linked to the conflict involving Iran. Investors are increasingly pricing in higher interest rates, widening fiscal deficits, and renewed stagflation risks across the region. Yields have climbed sharply across......

Airbus completes first flight of its autonomous drone interceptor

Airbus has conducted the inaugural demonstration flight of its unmanned interceptor drone, the Bird of Prey, a system engineered to autonomously detect and neutralize kamikaze drones at a fraction of the cost of conventional air defense missiles. During a test flight in Germany, the Bird of Prey autonomously identified and destroyed a kamikaze......

Germany and Syria discuss plans for refugee return

Germany and Syria have begun discussions aimed at facilitating the return of Syrian refugees currently living in Germany, Chancellor Friedrich Merz announced on Monday during a meeting with Syrian President Ahmad al-Chareh. Speaking at a joint press conference in Berlin, Merz said both governments are working toward creating conditions that......

Standard Chartered appoints former Deutsche Bank executive Matthiessen to lead digital assets

Standard Chartered announced on Monday that Ole Matthiessen will join the bank as its global head of transaction services and digital assets within its corporate and investment banking division. Matthiessen brings extensive experience across various financial products, including transaction banking, derivatives, structured lending solutions,......

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