The German Association of the Automotive Industry (VDA) is pushing back against potential European import tariffs on electric cars from China, fearing the repercussions of sparking a trade war with the Asian nation. VDA President Hildegard Müller expressed concerns in an interview with Die Welt, emphasizing that additional tariffs may not resolve issues for the […]

In a bid to tighten the economic noose around Russia amid the ongoing conflict in Ukraine, the United States and the United Kingdom have introduced stringent measures targeting Russian metal exports. Effective immediately, significant restrictions have been placed on the trading of aluminum, copper, and nickel produced in Russia, impacting the operations of the world’s […]

After months of negotiations, approximately nineteen thousand cabin crew members of Lufthansa have secured a new collective bargaining agreement. They will receive a 16.5% wage increase along with a one-time payment of €3,000. The employees went on strike last month, leading to the cancellation of hundreds of flights and leaving thousands of passengers stranded. “We […]

The European Central Bank (ECB) is maintaining its interest rates at a record high of 4 percent for now. According to the regulator, inflation hasn’t fallen enough. However, the ECB does suggest that its rates could decrease in the near future. This marks the fifth consecutive time that the financial regulator has left the interest […]

The European Union has reached an agreement to curb the import of Ukrainian agricultural products. Governments of EU countries and the European Parliament reached a provisional deal on Monday, pending approval from the parliament. Following the Russian invasion, the EU had granted tariff-free export for agricultural powerhouse Ukraine to assist the country in generating additional […]