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France risks credit downgrade as new PM tackles budget
France on Friday risks a downgrade on its ability to pay back debts, economists said, a move that would further complicate new Prime Minister Sebastien Lecornu's task of drawing up a budget for next year.
Armani's will lays path to potential buyout by rival
Fashion legend Giorgio Armani asked in his will made public Friday for a major luxury group to take a stake in his company, citing LVMH, EssilorLuxottica or L'Oreal as potential buyers. He named French luxury giant LVMH, cosmetics group L'Oreal and eyewear firm EssilorLuxottica as his preferred buyers, although another of similar stature would also be acceptable.
Russian central bank cuts interest rate as economy slows
Russia's central bank on Friday cut its key interest rate, but warned inflation was still too high, amid growing concerns over an economic slowdown amid the Ukraine offensive. The bank is now gradually trimming interest rates from a two-decade high of 21 percent.
Microsoft avoids EU antitrust fine with Teams commitments
The EU said Friday it had accepted Microsoft's commitment to more clearly separate the Teams communications app from its Office products -- sparing the US tech giant a hefty antitrust fine.
Norway sovereign wealth fund drops French miner over environmental fears
Norway's sovereign wealth fund said Friday it was excluding French mining company Eramet from its portfolio, citing risks that the company was contributing to human rights violations and environmental damage at a nickel mine in Indonesia.
Indonesia seizes part of nickel site over forest violations
Indonesian authorities have seized a small section of the world's largest nickel mine for encroaching on forest areas without permission, authorities said Friday.
Board of Spain's Sabadell bank rejects BBVA takeover bid
Spanish bank Sabadell on Friday said its board had rejected larger national rival BBVA's hostile takeover bid and urged shareholders to shun it as the clock ticked down on their final decision. Believing the takeover "destroys value for Banco Sabadell shareholders", the board "unanimously rejects the offer and therefore considers that the best option for shareholders... is not to accept it".
UK economy stalls in July
Britain's economy stagnated in July, official data showed Friday, dealing another blow to the Labour government at the end of a turbulent week for Prime Minister Keir Starmer.
US tariffs deal stokes 'monster' pick-up fears in Europe
Considered powerful, heavy-duty vehicles by their fans and dangerous gas-guzzling "monsters" by detractors -- could large pick-up trucks, long a staple on US roads, be about to roam in greater numbers across Europe?
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