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German govt looks to roll back tax hike on flights
Germany's government signalled Monday that it may reverse a rise in the tax applied to passenger flights as it steers a pro-business turn in Europe's top economy. Chancellor Friedrich Merz of the CDU has tried to forge a pro-business course to revive a sluggish economy, introducing tax breaks for business investment and promising to reduce bureaucracy. lep-vbw/fz/rmb
German industry alliance lays out domestic investment push
More than 60 German companies said Monday they would fund new domestic investments worth at least 100 billion euros ($117 billion) each as Chancellor Friedrich Merz seeks to revive Europe's largest economy. The CEOs of the two German heavyweights were received in the chancellery in Berlin by Merz, who declared that "the message is very clear... it is worth investing in Germany again".
UK overhauls regulation of 'broken' water system
The UK government announced Monday it will overhaul the management and regulation of the water system, following a landmark report that slammed systematic failings in the heavily-criticised industry. It urged the UK and Welsh governments to give themselves more powers to "direct" failing water firms, while also demanding an overhaul of their regulation.
US tariffs help push Jeep owner Stellantis into big loss
Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws. The 2.3-billion-euro ($2.7-billion) net loss in the first half of the year came as sales in North America continued to slump, down 25 percent by volume in the second quarter year-on-year.
US tariffs, laws push Jeep owner Stellantis into 2.3-bn-euro first-half net loss
Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws. The 2.3-billion-euro ($2.7-billion) net loss in the first half of the year came as sales in North America continued to slump, down 25 percent by volume in the second quarter year-on-year.
World's major courts take growing role in climate fight
The world's top court is poised to tell governments what their legal obligations are to tackle global warming, and possibly outline consequences for polluters that cause climate harm to vulnerable countries. But the potentially more controversial request is what -- if any -- legal consequences there might be for major polluters who cause severe climate damages.
ECB expected to hold rates as Trump tariff uncertainty lingers
The European Central Bank is set to hold interest rates for the first time in almost a year when policymakers meet this week, despite concerns over the potential impact of higher US tariffs on the eurozone economy. The central bank has reduced its benchmark rate a total of eight times since June last year and at each of its last seven meetings, bringing it down to two percent.
Hong Kong leads stocks higher, yen gains as Ishiba vows to stay
Equities mostly rose Monday on optimism countries will reach US trade deals before an August 1 deadline, while the yen gained after Japanese Prime Minister Shigeru Ishiba said he would stay in office despite another election defeat. He said "the deadline of (US) tariffs is coming on August 1.
'Class war': outsiders moving to Puerto Rico trigger displacement
Gloria Cuevas thought she would live forever in her pink, century-old house on Puerto Rico's west coast -- but then her landlord decided to transform the home into an Airbnb. Cuevas's experience is becoming an all too familiar tale across the island, where signs promote mansions for sale, and the Airbnb logo is plastered on homes where locals once lived.
AFP
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