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French energy group EDF is negotiating the acquisition of the customer base of British supplier So Energy, which serves approximately 300,000 households. This acquisition would help EDF strengthen its market position in Great Britain.
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China is providing 46.1 billion Euros to state banks and insurers to strengthen their balance sheets. The funds aim to improve lending capacity and the ability to support the economy.
Companies & MarketsTrade & ConsumptionIT & Internet
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In the EU last year, electric cars were 33 percent cheaper to operate than gasoline cars due to falling battery costs and high fuel prices. The purchase costs for electric cars are approaching those of gasoline cars.
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Russians are spending more on food as non-food expenditures decrease. This trend is evident in rising food spending shares at shopping centers and among city dwellers, while demand in areas like beauty, health, and electronics is declining.
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The DAX began weakly, weighed down by concerns over the outcome of the state election in Saxony-Anhalt and rising oil prices. German production fell in July, while the ECB anticipates an interest rate hike.
Global EconomyClimate ChangeWeather & Natural Disasters
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The World Meteorological Organization (WMO) predicts with almost 100% certainty that El Niño will continue until February 2027. This weather phenomenon, which raises global temperatures, could intensify further and have far-reaching climatic impacts until 2027, including droughts and floods.
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Turkey has raised its inflation forecast for the end of the year to 28.4%. The Middle East war is cited as the main reason for the adjustment, with estimated impacts of around seven percentage points on inflation.
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Rotterdam is Europe's largest port with 397.3 million tons, followed by Antwerp-Bruges with 243.7 million tons. The Netherlands handles the most goods overall in the EU.
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The EU plans a massive investment offensive in Greenland to strengthen Arctic security. €530 million will be provided for the 2028-2034 budget period, with an additional €200 million announced.
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Rising prices in New York are making life increasingly difficult for young professionals. A 26-year-old is managing expenses by opting for cheaper alternatives like bringing her own food and hosting game nights instead of dining out.
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