EUROPE ECONOMY

Ukrainian President Volodymyr Zelenskyy said nearly 20 countries are interested in drone deals with Ukraine and that four agreements have already been signed.

Lufthansa Group is cancelling around 20,000 short-haul flights across Europe through October as part of a sweeping operational reset aimed at removing unprofitable routes and tightening its network amid persistent pressure from high jet fuel prices and uneven demand recovery.

The European Central Bank is facing renewed scrutiny over its inflation outlook as new signals point to lingering price pressures across services and energy-sensitive sectors.

EU Energy Commissioner Dan Jørgensen encouraged EU citizens to work from home where possible, reduce highway speed limits by ten kilometers, encourage public transport, and alternate private car access.

European stock markets slid sharply on Monday as heightened geopolitical tensions following Iran's weekend strikes and the continued closure of major Gulf exchanges rattled global investors.

UK government borrowing jumped by far more than expected in July, official figures showed Wednesday, stoking fresh anxiety for the new Labour government ahead of its first budget in just over two months.

The eurozone's annual rate of inflation cooled in June in line with analysts' expectations thanks to a slowdown in food and energy price rises, official data showed on Tuesday.

As many Western countries re-embrace nuclear power as they look to transition to fossil fuels, Madrid takes a different tack.

New solar installations have accelerated the transition away from natural gas and coal in two of Europe's leading economies.

Spain's pursuit of net-zero carbon emissions took a step forward on Wednesday.

Germany's leading renewable energy technology corporation is reorganizing its business operations in response to a crisis in its wind energy unit.

Germany is discussing plans to source green hydrogen from Algeria, reducing energy dependency on Russia and working towards fulfilling EU climate objectives.

UK economic rebound eases recession fear before budget

France gears up for 'hellish' day of pension protests

According to some estimates, interest rate hikes can take up to 18 months to affect the economy. Thus, the ECB may want to pause and see how the recent interest rate hikes will impact the eurozone economy before its next move.