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OPEC Lowers Forecast for Global Oil Demand Growth in 2024 and 2025

OPEC reduced its 2024 oil demand growth forecast to 2.03 million barrels/day, down from 2.11 million barrels/day. China's economic outlook remains a key factor, but...

EU Court Rules in Favor of Commission, Ireland Must Recover Unlawful Aid from Apple

The European Court of Justice (ECJ) has upheld the European Commission’s 2016 decision, requiring Ireland to recover €13 billion in unlawful state aid from...

BMW Group Lowers 2024 Outlook Amid Supply Chain Challenges

BMW has revised its profit margin forecast for 2024 to 6-7%, down from the previous estimate of 8-10%. Supply chain disruptions and issues with an...

EU May Extend Deadline for France to Submit Deficit Reduction Plan

France has requested an extension to submit its plan for reducing its public finance deficit. France’s 2023 budget deficit stands at 5.5% of GDP, exceeding...

Volkswagen Ends Job Guarantees, Paving the Way for Layoffs

Volkswagen has canceled job guarantees in six German plants, raising the likelihood of layoffs starting next year. The move aims to cut costs and boost...

ASML Requires License for Servicing Certain Equipment in China

ASML now needs a license to provide parts and software updates for Chinese customers, following new export restrictions. These restrictions are part of coordinated efforts...

UK Wage Growth Slows to Over Two-Year Low

Average weekly wage growth in the UK rose by 5.1% in the three months to July, marking the slowest growth in over two years. The...

Apple Ordered to Pay Ireland €13 Billion in Unpaid Taxes by EU Court

Luxembourg, September 10 (FinanceFlashNews.com) – Apple has suffered a definitive defeat at the European Court of Justice (ECJ) in its long-running legal battle with...

German Machinery Manufacturers Expect Significant Production Decline This Year

German machinery production is forecast to fall by 8% in 2024, doubling the previous estimate of 4%. Weak demand from key markets such as the...

Japan’s Economy Grew Slower Than Expected in Q2

Japan's GDP grew by 0.7% in the second quarter of 2024, down from the 0.8% initially estimated. Household spending and business investment were lower than...

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