According to Brand Finance, the German automobile manufacturer Porsche has retained its position as the top brand in the luxury goods sector for the eighth year in a row. Concurrently, the company's value dropped by 4.6% over the previous year to reach $41.1 billion. The manufacturer of perfume Chanel secured second place (+45.4%, reaching $37.9 billion), while the renowned bag brand Louis...

According to the head of commodities research at Bank of America Corp. Francisco Blanch, Saudi Arabia has initiated a strategy characterized by a prolonged price war aimed at reclaiming its lost share in the global oil market, as reported to Bloomberg TV. “This price competition will not be sudden and temporary, but rather extended and gradual,” he stated.  The analyst indicated this is...

Bloomberg writes, citing sources, that Yale University is wrapping up an agreement to sell its private equity and venture capital holdings for $2.5bn. Sources indicated that the university's endowment fund is currently in an advanced phase of negotiations regarding the sale of these assets. The portfolio is anticipated to be sold at a discount of under 10 percent, although prospective purchasers...

In 2025, investments in the upstream segment by oil and gas companies could drop for the first time in five years, decreasing by 4% to just below $570 billion. This is the prediction made by analysts at the International Energy Agency (IEA) in the yearly report World Energy Investment. Specifically, funding for oil exploration and production will decline by 6%, whereas investments in gas will see...

The European Central Bank stated in its forecast that consumer prices in the eurozone will rise by 2% in 2025 and by 1.6% in 2026. The document was released following a forecast where the ECB reduced rates by 25 bps. Three months prior, the regulator predicted inflation for 2025 at 2.3 percent and for 2026 at 1.9 percent. The update is because of anticipated decreases in energy expenses and a...

According to Reuters, citing the German Finance Ministry, the German government approved a tax relief package worth €46 billion to aid businesses and the overall economy from 2025 to 2029. The package includes advantageous depreciation regulations that enable businesses to decrease the asset value more rapidly, allowing for reductions of up to 30% annually during the initial three years. ...

In May, 721 new Tesla electric cars were registered in France, a figure three times lower than the nearly 2.2 thousand cars from the same month last year, according to local industry group La Plateforme Automobile. This marks the smallest volume since July 2022.  In the initial five months of this year, 8.28 thousand vehicles from this American maker were sold in the nation, down 47%...

The eight OPEC+ nations consented to a third straight rapid rise in oil output by 411,000 bpd, citing the prospects for global economic sustainability and current robust market conditions, as indicated by low commercial oil stocks, OPEC stated in a press announcement after the meeting. The alliance points out that these plans could be delayed or terminated based on how market conditions evolve....

US President Donald Trump has given green light for the merger between US Steel and Japan's Nippon Steel, according to CNBC. ‘This will be a strategic alliance between United States Steel and Nippon Steel that is expected to generate at least 70,000 jobs and invest $14 billion into the American economy,’ he wrote on his Truth Social platform.  According to Trump, US Steel will stay in...