European Central Bank officials have urged policymakers to remain cautious when adjusting interest rates, as geopolitical tensions linked to the war in Iran continue to shape the economic outlook across the euro area. The warning reflects mounting uncertainty about how rising energy costs could influence inflation and growth in the coming months. ECB Vice-President Luis de Guindos emphasized the importance…
Germany’s financial watchdog BaFin has instructed the local arm of Standard Chartered to address organisational shortcomings and maintain an additional capital buffer after supervisors found the bank was not fully compliant in parts of its internal “business organisation.” The measures were announced on Dec. 16, 2025 and follow a supervisory review carried out earlier this year, according to Reuters. The…
Russia’s Central Bank says it has filed a lawsuit in Moscow’s Arbitration Court against Euroclear, the Brussels-based clearing house that holds a large share of Russia’s immobilized assets in Europe. The bank said it is seeking compensation for damages linked to restrictions that prevent it from managing or disposing of assets held through Euroclear. Euroclear declined to comment, and it…
The International Monetary Fund (IMF) is urging China to tackle what it calls deepening economic “imbalances,” warning that a country of 1.4 billion people is now too large to lean on exports as its main engine of growth. After the Fund’s annual review of the Chinese economy, IMF Managing Director Kristalina Georgieva said Beijing’s record trade surplus and subdued domestic…
Global private equity firm Advent International has ended advanced talks to buy a major stake in Whirlpool of India, after negotiations with Whirlpool Corp broke down over price, according to people familiar with the matter. The deal under discussion was valued at about $1 billion and would have given Advent control of the Indian home-appliance maker. Sources said Advent pushed…
Visa has announced plans to begin operations in Syria after reaching an agreement with the country’s central bank on a roadmap to build a nationwide digital payments infrastructure. In a statement released on Thursday, the global card network said the accord sets out steps to introduce electronic payments in a market that has been largely cut off from international finance…
Starbucks has agreed to pay about $35 million to more than 15,000 current and former workers in New York City, resolving a multi-year investigation into claims that the company violated the city’s Fair Workweek scheduling rules. City officials said the deal is one of the largest worker-protection settlements in the city’s history and follows allegations that baristas were routinely denied…
