EU and China Reach Hybrid Car Understanding, Pledge Faster Rare Earth Licenses
Two days of talks in Beijing pulled both sides back from a trade war, but EV duties stay in place and the hybrid terms remain unpublished.
Europe
Europe
- European Central Bank
ECB Holds Deposit Rate at 2.5%, Leaves December Hike in Play as Lagarde Plans Early Exit
Policymakers debated a hike before agreeing to wait for more data, and Lagarde said she will leave on Feb. 7 to have the freedom to engage on matters that are not monetary policy matters.
- Euro Zone Economy
Euro Zone Economy Grows 0.4% in Third Quarter as France Shrinks, ECB Eyes December
Eurostat's flash estimate showed growth holding up despite the energy shock, putting the spotlight on Wednesday's October inflation reading.
- European Central Bank
Lagarde Tells Japan's Yomiuri ECB Path Is Set Unless 'Significant Changes' With Inflation at 4%
In an interview with a Japanese newspaper, the ECB president said high-debt countries such as France are more exposed to rising global yields as governments compete with AI companies for financing.
- Euro Zone Economy
Italy's Inflation Jumps to 5.4% and France's Hits 3.4% in October as Energy Costs Bite
National flash data set up Eurostat's euro zone reading on Nov. 4, while a weaker euro has cut the home-currency value of Asian exporters' European sales.
- German Economy
Germany's Imports From China Jump 11% to 16.8 Billion Euros as Export Growth Stalls
Europe's largest economy grew 0.2% in the third quarter, but its trade gap with China widened and an energy shock lifted import prices at the fastest pace since 2022.
- German Economy
German Exports to China Fall 5.2% in September as Imports From China Reach 17.3 Billion Euros
Overall German exports rose 2.0% and factory output grew 0.7%, but third-quarter production still slipped, leaving investors watching the ZEW survey on Nov. 11.
- EU-China Trade
China Warns EU of Countermeasures as Brussels Readies 'Kill-Switch' Trade Tool by Year-End
Trade Commissioner Maros Sefcovic told lawmakers the instrument, which could shut goods out of the single market, will be presented before January, as the EU's deficit with China runs at about 1 billion euros a day.
- Euro Zone Economy
Euro Zone Factory PMI Holds at 52.7 as Export Orders Jump and Firms Restock Raw Materials
European manufacturers bought inputs at the fastest pace in nearly four and a half years in October, while rising costs kept pressure on the ECB.
- EU Trade
EU Proposes Duties of Up to 57.09% on Chinese Car Tyres in Anti-Subsidy Case
The draft countervailing ruling would sit on top of July's anti-dumping tariffs on a trade worth more than 2.5 billion euros a year, with a final decision expected in early December.
- EU Trade
EU Opens Safeguard Probe Into PET Resin Imports After 27% Rise, Hitting All Origins
Unlike the anti-dumping cases already aimed at China, India and Korea, a safeguard would cover plastic bottle feedstock from every country, after imports climbed to 2.7 million tonnes.
- Europe
Mercedes-Benz Cuts 2026 Profit Outlook as China Car Sales Fall 31% in Third Quarter
Third-quarter EBIT beat forecasts at 1.77 billion euros, but the carmaker lowered its car margin target to 2% to 3% on a weaker China market and higher costs.
- Europe
Shell Profit Nearly Doubles to $10.8 Billion as LNG Sales Rise, Canada Plant Targets Asia
Record refining margins and higher gas prices lifted earnings past forecasts, and Shell raised its quarterly buyback to $5 billion as it bets on Asian LNG demand.
- Europe
Volkswagen Posts 5.8 Billion Euro Q3 Loss; China Ventures in the Red Over Nine Months
A Porsche write-down drove the third-quarter loss. Over the first nine months, Volkswagen's Chinese joint ventures swung to a loss, and the group booked about 1 billion euros of China impairments.
- Europe
Healey's First UK Budget Cuts Fiscal Headroom to £15 Billion, Gilts Hold Steady
Chancellor John Healey paired a £100 energy payment with a higher bank surcharge, and gilt yields edged lower before a Bank of England decision on Nov. 5.
- Europe
Traders Price In a Bank of England Rate Hike to 4% on Nov. 5 as UK Inflation Hits 3.5%
Traders see the first increase since 2023 as all but certain after the Budget. The bigger question is how many more hikes the Monetary Policy Committee signals.
- Europe
Kering's Gucci Sales Fall 6% as Weaker Traffic in China and Japan Stalls Recovery
Jewelry and eyewear kept group revenue roughly flat, but Asia Pacific traffic remained the main drag on the Italian brand.
- Europe
UBS Profit Rises 8.4% to $2.7 Billion as Asia Pacific Wealth Unit Draws $17.9 Billion
Asia Pacific earnings in the Swiss bank's wealth arm rose to $503 million, though inflows there were less than half last year's level and the shares slipped in Zurich.
- Europe
AstraZeneca's China Sales Slip 3% in Nine Months as Beijing's Price Cuts Hit Older Drugs
The British drugmaker's China revenue recovered to 3% growth in the third quarter, as newer cancer and respiratory medicines offset mandatory cuts of up to 30% on three older products.
- Europe
BASF Raises 2026 Earnings Forecast to 7.8 Billion Euros as Third-Quarter Sales Jump 14%
The German chemical maker beat analyst estimates on higher prices, but restructuring charges at Ludwigshafen pushed operating profit into the red. Spending on its new China site is winding down.
- Trade Policy
EU Adds 2-Euro Parcel Fee After Low-Value Imports Fall Over 60%, Squeezing Temu and Shein
A new per-item handling charge took effect Nov. 1 on online orders shipped from outside the bloc, on top of a 3-euro duty that has already cut parcel volumes sharply.
- Europe
TotalEnergies LNG Profit More Than Doubles to $1.9 Billion as Asian Gas Prices Jump 31%
The French group's gas unit earned 2.3 times as much as in the spring, and it expects its LNG selling price to top $14 per million British thermal units this quarter.
- Europe
BMW Profit Falls 15% as China Deliveries Drop 24.8% and Car Margin Target Nears Zero
The Munich carmaker cut its 2026 automotive margin goal to between minus 0.5% and plus 0.5%, its second profit warning this year, as Chinese rivals erode its sales.
- Europe
Diageo Sales Rise 1.4% as Asia Pacific Growth Offsets North America Slump
The London-listed maker of Johnnie Walker and Guinness kept its full-year outlook after Asia Pacific posted mid-single-digit growth and U.S. sales fell less than feared.
- Europe
Novo Nordisk Lifts 2026 Outlook Again, but China Sales Fall 5% and Asia-Pacific Slips 7%
The Danish drugmaker's Wegovy pill beat forecasts and Europe grew 18%, while lower obesity-drug prices in China and weaker Asia-Pacific demand dragged on its international unit.
- United KingdomAnalysis
UK Gilt Yields Ease Toward 5.1% After Bank of England Hike as Brent Slips Below $97
Ten-year borrowing costs have fallen about 30 basis points from October's 19-year high, and energy prices now set the pace for any further hikes.
- Europe
On Holding Sales Hit Record CHF 931 Million as Asia-Pacific Grows 31%, Shares Fall 7.5%
The Swiss running-shoe maker kept its full-year sales forecast and raised its underlying margin outlook, but growth in Asia-Pacific slowed from the first half and its New York-listed shares dropped.
- United Kingdom
UK House Prices Fall 1.2% in October, Steepest Drop Since 2023, as London Slides 3.1%
The Lloyds index showed a 0.6% monthly fall, far weaker than forecast, a day after the Bank of England raised its rate to 4%.
- Europe
Infineon Forecasts 20 Billion Euros in Sales as AI Data Center Power Revenue Nears Doubling
The German chipmaker expects sales to rise more than 20% in fiscal 2027 and plans 3 billion to 3.5 billion euros of investment, including more silicon carbide capacity in Kulim, Malaysia.
- Europe
Maersk Lifts 2026 Profit Forecast to $8.5 Billion, but Shares Drop 11% on Third-Quarter Miss
The Danish shipping group's third upgrade of the year rests on freight rates, not cargo, and analysts question how long port congestion and Strait of Hormuz disruption will hold prices up.
