Business
The International Monetary Fund raised its 2025 growth forecast for Spain to 2.9% on Tuesday, the strongest among advanced economies, and warned of trade tensions and AI-related market risks.
IMF warned that banks had about $4.5 trillion of exposure to hedge funds and private credit and cautioned that an AI-driven U.S. equity bubble risked concentrated losses, urging tighter regulation.
The European Commission fined Gucci, Chloé and Loewe €157 million for imposing resale prices and sales conditions on independent retailers, ruling the practices breached EU competition rules.
JPMorgan, Goldman Sachs, Citi and Wells Fargo reported stronger-than-expected quarterly profits in the U.S., driven by trading, dealmaking and rising net interest income.
Plaintiffs and critics alleged Microsoft used an exclusive cloud pact with OpenAI to restrict compute supply and inflate AI prices, prompting lawsuits and heightened regulatory scrutiny.
Germany's consumer prices rose 2.4 percent in September, driven chiefly by higher costs for services and food, preliminary national statistics showed.
A Swiss court ruled the 16 billion-franc AT1 bond write-down during Credit Suisse's takeover by UBS was unlawful, raising whether the government must now cover the losses.
BlackRock's assets under management rose to a record $13.5 trillion after a market rally and expectations of further Federal Reserve easing, fueled by ETF inflows and dealmaking.
René Benko went on trial in Innsbruck on Tuesday, pleading not guilty to prosecutors' allegations that he concealed assets and harmed creditors, with hearings set to resume Wednesday.
Global oil prices fell to a five-month low after the International Energy Agency forecast a record 2026 supply surplus, saying production could exceed demand by over 4 million bpd.
Spain and Italy moved against alleged film-financing fraud: a Spanish judge indicted producer José Luis Moreno and 54 others, and Italy's Guardia di Finanza seized documents on three films.
Thyssenkrupp’s submarine builder TKMS will begin trading on the Frankfurt stock exchange on Oct. 20 after the group spun off a minority stake while retaining control.
At the start of the Frankfurt Book Fair, Germany's book trade contracted, with nearly one-quarter of bookstores closing over five years and publishers citing succession and printing shortages.
Silver hit a record in London as investors piled into gold, with a Bank of America survey that found long gold the most crowded trade amid inflation and currency concerns.
Audio clips suggested Aker demanded that Solstad’s refinancing not be handled at the general meeting because executives feared shareholder resistance.
Audi parted ways with Renate Vachenauer, the only woman on its board and head of procurement, removing her from the Ingolstadt automaker’s executive board; her successor remained unclear.
The Swiss Federal Administrative Court ruled the SFr16 billion write-down of Credit Suisse AT1 bonds during the bank’s rescue was unlawful, but whether investors will be compensated remained unclear.
Italian customs officers seized more than 12 tonnes of counterfeit toys and figurines worth about 3.5 million euros at Milan's Malpensa airport, destined for domestic and European markets.
Genoa prosecutors sought 18 years and six months' imprisonment for former Autostrade CEO Giovanni Castellucci in the trial over the Ponte Morandi collapse.
Das Bundeskartellamt in Deutschland erlaubte die Übernahme von CureVac durch BioNTech und erklärte, der Zusammenschluss werde den Wettbewerb nicht erheblich beeinträchtigen.
