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☆ Stellantis to reveal its first Europe-made affordable electric vehicle
▼ + stars: | 2023-06-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Stellantis, the third-largest carmaker in the world by revenue, will reveal its first European-made, affordable electric car in mid-October. The new Citroën e-C3 model will have a 320-kilometre range and a 57-minute "fast charge" capability, Citroën says. The company aims to have a total of 47 battery electric vehicles on the market by the end of 2024, the May press release said. Sales of Stellantis' battery electric vehicles were up 22% year-on-year in the first quarter of 2023, the company reported. Shares of Stellantis were up 0.2% when markets opened at 8.00 a.m. London time Friday.

Persons: Stellantis, Citroën Locations: London

☆ European markets open cautiously positive as traders digest ECB rate hike
▼ + stars: | 2023-06-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index was up 0.2% as trading started, with most sectors in marginally positive territory. European stock markets opened cautiously positive on Friday as investors digested the latest monetary policy decision from the European Central Bank. The ECB opted to raise its benchmark policy rate by a further 25 basis points. No, we are not at [the] destination," she added, indicating at least one more rate increase in July. While the ECB opted for more fiscal tightening, the Federal Reserve decided Wednesday to hold off on a rate hike, but said there would be two quarter-percentage point moves before the end of the year.

Persons: Christine Lagarde Organizations: Retail, European Central Bank, ECB, Federal Reserve, Bank of Japan Locations: Asia, Pacific

The pan-European Stoxx 600 index was down 0.2% at market open, with most sectors in negative territory. Mining stocks led losses with a 0.8% downturn, followed by food and beverage stocks, which dropped 0.4%. Media and retail stocks bucked the trend and each gained 0.4%. The ECB is set to increase its benchmark policy rate by another 25 basis points when it meets Thursday, and is expected to say that future rate decisions will be data-dependent as uncertainty weighs on the inflation and growth outlook. The latest decision left the Fed's key borrowing rate in a target range of 5%-5.25%.The central bank forecast it will raise interest rates as high as 5.6% before 2023 is over.

Organizations: Media, ECB, U.S . Federal Reserve Locations: Europe

☆ A subsection of tech is set to be worth $1 trillion. But taboos are holding it back
▼ + stars: | 2023-06-12 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +5 min

watch nowInvestors are ignoring a huge subsection of tech because it's considered "taboo" – despite the fact that it is set to be worth $1 trillion by 2027. But just 3.3% of digital health investment in the U.S. went towards women's health between 2011 and 2020, according to digital consultancy Rock Health. Research by Women's Health Access Matters suggests that a $300 million investment into improving female health could generate around $13 billion. It is now one of the largest companies in the FemTech space and has a revenue of $100 million. The issue of not understanding women's health – and the importance of female-specific health solutions – has deeper roots.

Persons: it's, Agostini, Karen Taylor, Tania Boler, Boler, Valerie Evans, they're, hasn't, Deloitte's Taylor, Brittany Barreto, we're, Barreto Organizations: Rock Health, Women's, Research, Getty, Centre for Health Solutions, Deloitte, CNBC, European Women, McKinsey & Company Locations: U.S

☆ 90% of investors don't understand the demand for this $1 trillion industry – here's why
▼ + stars: | 2023-06-12 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Investors are ignoring a huge subsection of tech because of its "taboo" nature – even though it is set to be worth $1 trillion by 2027. The term "FemTech" was coined in 2016, and it includes all tech and innovations designed to solve health issues suffered solely, differently, or disproportionately by women. But there are considerable gains to be made from the FemTech sector, including wider economic and social advantages. A $300 million investment into improving female health could generate around $13 billion, according to Women's Health Access Matters, a nonprofit organization focused on funding for women's health research. So, are investors missing out by ignoring FemTech?

Persons: vaginas, Tania Boler Organizations: CNBC

☆ HSBC pulls some UK mortgage deals as fears of rising rates hits home buyers once more
▼ + stars: | 2023-06-09 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

"Persistently high inflation and the recent spike in lending rates will trigger a correction in the UK (Aa3 negative) housing market," Moody's Investor Service said in a report. LONDON – The U.K.'s biggest bank temporarily withdrew mortgage deals via broker services on Thursday, as the effect of higher interest rates ripples through the British housing market. HSBC told CNBC Friday that it was reviewing the situation regularly, but did not specify whether the new deals would differ from its previous offerings. Higher rates are a possibility, given that the Bank of England is continuing to increase interest rates. It comes eight months after hundreds of mortgage deal offers were pulled in one day after market chaos at the time sparked concerns about rising base rates.

Organizations: Service, HSBC, CNBC, Bank of England

☆ European markets open marginally higher at end of choppy week
▼ + stars: | 2023-06-09 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

The S&P 500 is headed for a fourth straight week of gains for the first time since last August. As of Thursday's close, the broader index was higher by nearly 0.3%. Meanwhile, the Dow Jones Industrial Average is on pace for a second consecutive week of gains, or its best streak since its four straight weeks of gains ending in April. On the other hand, the Nasdaq Composite is on pace to break a six-week winning streak. The tech-heavy index is just slightly down for the week, by 0.02%.

Persons: Sarah Min, Chris Hayes Organizations: Dow Jones, Nasdaq

☆ Air travel to be disrupted by 'very frustrating' supply chain issues, IATA's Willie Walsh says
▼ + stars: | 2023-06-05 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Supply chain issues will impact air travel in 2023, IATA director general says. Juliette Michel | Afp | Getty ImagesAir travel will be affected by "very frustrating" supply chain issues this year, according to Willie Walsh, director general of the International Air Transport Association, as he discussed the challenges facing the aviation sector this year. And we're already seeing that," Walsh told CNBC's Dan Murphy. A scarcity of air traffic control staff is also likely to be a problem in 2023, Walsh said. "The challenges we expect to see in the short term are outside of our control, and they principally relate to shortages, in resources in air traffic control," Walsh said.

Persons: Juliette Michel, Willie Walsh, Walsh, CNBC's Dan Murphy, We've Organizations: Afp, Getty, Air, International Air Transport Association, Boeing, Airbus Locations: U.S, United States, Europe

☆ European markets open muted; oil and gas up 1% on output cut news
▼ + stars: | 2023-06-05 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

In Europe, traders are still analyzing the impact of Thursday's inflation data, which showed euro zone inflation falling to its lowest level since February 2022. European markets opened muted after ending on a high on Friday, as traders digest the U.S. debt ceiling agreement and euro zone inflation data. Oil and gas stocks led gains with a 1.1% uptick after Saudi Arabia announced voluntary cuts to its output Sunday, starting in July. In Europe, traders are still analyzing the impact of Thursday's inflation data, which showed euro zone inflation falling to its lowest level since February 2022. Asia-Pacific markets were largely higher on the U.S. debt ceiling news, while U.S. equity futures were little changed Sunday evening.

Persons: Christine Lagarde Organizations: European Central Bank Locations: Europe, Saudi Arabia, OPEC, Asia, Pacific

U.S. Treasury Secretary Janet Yellen previously warned lawmakers that a default in early June is "highly likely." Prices rose 1.2% month on month, above a forecast of 0.8%. "April 2022 saw energy prices increase by 47.5%. Thanks to the government's energy price guarantee, this energy surge has now dropped out of the year-on-year equation, leading the comparative inflation rate to naturally fall." The International Monetary Fund on Tuesday joined the Bank of England in saying that it no longer expects a U.K. recession this year.

Persons: Janet Yellen, Kevin McCarthy, Joe Biden, Jeremy Batstone, Carr Organizations: U.S, Treasury, Raymond James Investment Services, of England, Capital Economics, Monetary Fund, Tuesday, Bank of England Locations: European

☆ European markets poised to open higher as U.S. debt ceiling talks continue
▼ + stars: | 2023-05-19 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

European markets look set to open higher Friday as U.S. debt ceiling talks boost investor sentiment. German stocks are also expected to extended Thursday's gains, which caused the DAX index to hit its highest point since January 2022. Traders will be keeping an eye on the Group of Seven summit in Hiroshima, which starts Friday, where world leaders are expected to discuss international trade and security. China and Russia relations and sanctions are on the agenda for discussions between Canada, France, Germany, Italy, Japan, the United Kingdom and United States.

☆ Platinum demand predicted to surge this year, leaving a near 1-million-ounce deficit
▼ + stars: | 2023-05-15 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The price of platinum has soared as high demand meets low supply. A previously anticipated platinum shortage will be worse than expected this year thanks to increased demand, particularly from the industrial sector, according to the World Platinum Investment Council. Global demand for platinum will see a 28% uptick this year compared to 2022, while supply will decrease 1% year-on-year, the organization said Monday. Industrial demand, particularly in chemical and glass production in China, is looking to be the strongest on record, the report estimates. Strong demand also continues in the auto sector as platinum becomes an increasingly common replacement for pricy palladium in catalytic converters, it said.

The pan-European Stoxx 600 closed 0.4% higher, with banks higher by 0.8% and oil and gas stocks gaining 1.5%. European stock markets closed higher Friday despite a downbeat week, as investors assessed the state of play across first-quarter earnings and economic data. France's Societe Generale beat first-quarter earnings estimates, as its shares climbed as much as 2%. Shares of the financial services provider closed 0.5% higher. Asia-Pacific markets closed mixed on Friday, while U.S. stocks were flat by the European close.

☆ Air New Zealand's planned in-flight sleeping pods could cost nearly $100 an hour
▼ + stars: | 2023-05-10 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

Air New Zealand's previously announced in-flight sleeping pods will likely cost between 400 and 600 New Zealand dollars ($250-$380) for a four-hour period, or up to approximately $100 an hour, according to a new press release from the airline. Travelers flying from Auckland to Chicago and New York will be able to sleep in the sky from September 2024, the carrier said, having first unveiled the plans for the new sleeping quarters in 2022. The Skynest sleeping pods will come in six-bed configurations and customers will be in fairly close quarters, with a privacy curtain separating people in neighboring bunks.

☆ Brits are being offered no-deposit 100% mortgage loans for the first time since 2008
▼ + stars: | 2023-05-09 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Renters in the U.K. will be able to borrow up to 100% of the value of a property in a new mortgage scheme introduced by Skipton Building Society. LONDON — Renters in the U.K. will be able to borrow up to 100% of the value of a property without a guarantor or deposit in a new mortgage plan introduced by Skipton Building Society. The average five-year rate was 5% in March, according to the Moneyfacts UK Mortgage Trends Treasury Report, across all loan-to-value ratios. Buyers typically get a 5.33% mortgage rate on 95% LTVs, according to the report, but the majority of buyers opt for a lower rate. The new Skipton deal is widely reported to be the first time a mortgage lender has offered 100% mortgage products since 2008, when some building societies offered rates of up to 125%.

☆ One-pilot planes are a possibility as aviation embraces A.I., Emirates president says
▼ + stars: | 2023-05-02 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

Tim Clark, Emirates president, says we "might" see one-pilot aircraft in the future. As the aviation sector starts to embrace artificial intelligence, planes flying with just one pilot are a possibility, according to Emirates President Tim Clark. "You might see a one-pilot aircraft," Clark told CNBC's Hadley Gamble Tuesday, but said it will likely take some time to come to fruition — and might not necessarily be what passengers want. "[Passengers] like to think there are two pilots up there," he added. As the scale and power of artificial intelligence rapidly increase, it is important that the aviation sector takes a step back and assesses the difference it could make, Clark said, adding: "Harness it, use it.

☆ Germany has a plan to tackle a rapidly ageing workforce: recruiting robots
▼ + stars: | 2023-05-01 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

But what does enhancing the workforce through robots and digitalization actually look like? There won't be major job losses as a result of digitalization, according to Ulrich Walwei, vice director of Germany's Institute for Employment Research. Ultimately, the goal of integrating robots into the workplace is to augment human capabilities, not replace them. "Our robots can free up human workers to focus on more complex and creative work, leading to more fulfilling and engaging jobs," Pehlivan told CNBC via email. "Ultimately, the goal of integrating robots into the workplace is to augment human capabilities, not replace them," he added.

☆ Brits warned they are not saving enough for retirement and face a 'risky' future
▼ + stars: | 2023-04-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +4 min

Richard Baker / Contributor / Getty ImagesLONDON — Workers in the U.K face a "risky" future when it comes to their pensions, according to a report released by think tank the Institute for Fiscal Studies. Almost 90% of Brits aren't putting an appropriate amount of money into their pension pots — generally considered to be around 15% of earnings, according to the IFS report. Including self-employed savers within that framework would also boost their pension pots and reduce their dependence on the state pension later in life, Savova added. Most people in the U.K. are automatically entitled to a state pension, which is currently £203.85 ($253) per week. "Increasing the State Pension Age will only escalate pensioner poverty which falls disproportionately on those who have lower incomes and retire early due to ill-health," Peaple told CNBC via email.

☆ Sweden's economic gloom goes from bad to worse as government predicts steeper GDP contraction
▼ + stars: | 2023-04-17 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +5 min

JONATHAN NACKSTRAND / Contributor / Getty ImagesThe Swedish government is now predicting a deeper than expected GDP contraction in 2023, according to data released Monday, worsening an already gloomy outlook for the country's economy. Sweden's Ministry of Finance estimated in December that GDP would shrink by 0.7%, but it now predicts a 1% downturn as it reassesses the "challenging economic environment." "We face major challenges, but we will get through them together," Sweden's Minister for Finance, Elisabeth Svantesson, said in a press release Monday. The latest CPI data shows inflation is finally starting to slow, but wages are limping behind and house prices are facing a serious downturn. Eroding real wagesMost European countries are experiencing sky-high inflation, leaving real wages lagging behind.

☆ European markets set to open higher as traders digest U.S. data
▼ + stars: | 2023-04-14 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

European markets are expected to open higher Friday as traders continue to digest U.S. data. Cooling inflation raised expectations that the Federal Reserve will pause its aggressive rate-hiking cycle. The pan-European Stoxx 600 index closed higher Thursday in a fourth consecutive uptick after the long Easter weekend. Investors are also looking ahead to the start of U.S. earnings season, with JPMorgan, Wells Fargo and Citi publishing results before U.S. stock markets open later in the day. U.S. stock futures were down slightly following the flurry of data and ahead of earnings reports, while Asia-Pacific markets largely rose on Friday.

☆ European markets open mixed as investors digest key U.S. inflation data
▼ + stars: | 2023-04-13 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index was tentatively higher with a 0.2% uptick, and sectors were mostly in positive territory. Household goods led gains with a 1.8% jump, while oil and gas stocks made the biggest drop with a 0.4% downturn. European stock markets opened mixed Thursday as investors digest key inflation data out of the U.S. released Wednesday. European stocks closed slightly higher Wednesday, with the pan-European Stoxx 600 closing up 0.1%. U.S. futures tied to the S&P 500 were little changed early Thursday morning, while Asia-Pacific markets were mostly lower on Thursday in response to data out of the U.S.

☆ European markets set to open mixed ahead of key U.S. inflation data
▼ + stars: | 2023-04-12 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

European markets are keeping an eye on key U.S. inflation data. European markets are set to open mixed Wednesday as investors await key inflation data from the U.S. set for release later in the day. That data will likely determine the U.S. Federal Reserve's path in its tightening cycle. Investors will also be digesting the International Monetary Fund's latest global growth report, released Tuesday, which included its weakest medium-term growth forecast for more than 30 years. U.S. stock futures were flat in overnight trading Tuesday, while markets in the Asia-Pacific were mostly higher on Wednesday as investors turned their focus to March's highly anticipated inflation report.

☆ European markets expected to open higher after shaking off last week's pessimism
▼ + stars: | 2023-04-11 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Bitcoin climbed on Monday evening, topping the key psychological level of $30,000 as investors awaited key inflation data later in the week that could steer crypto prices. The largest cryptocurrency by market cap rose 7% to $30,193.25 for the first time since June, according to Coin Metrics. The U.S. consumer price index and producer price index due Wednesday and Thursday, respectively – will be key in determining if or when the Fed will pause or put an end to its rate hiking campaign. Meanwhile, ether has been climbing ahead of its planned "Shanghai" tech upgrade, which is expected to bring a wave of negative sell pressure on the market as previously locked funds on Ethereum are released over the next few weeks. It advanced more than 3.5% to $1,925.11 for the first time since August as investors ahead of the upgrade, scheduled for Wednesday.

☆ European markets are set to open mixed over global economic uncertainty
▼ + stars: | 2023-04-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

European markets are expected to open mixed Thursday as investors continue to weigh up an uncertain global economic outlook. U.S. private payrolls rose by 145,000 in March, which showed job growth had slowed significantly more than anticipated. The ISM Purchasing Managers' Index showed a monthly decline, while another U.S. labor report on Wednesday showed job openings dropped to their lowest level in nearly two years. Investors are now looking ahead to non-farm payrolls data on Friday. Asia-Pacific markets largely fell on Thursday as Wall Street digested the latest ADP private payrolls report, which showed slowing job growth in March, while U.S. stock futures were near flat Wednesday night as investors also considered what the latest data would mean for the economy.

☆ Here's when millions of UK phones will sound an emergency test alarm
▼ + stars: | 2023-04-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

All smartphones in the UK will sound an alarm later this month in emergency test. Most U.K. cell phones will sound an alarm for 10 seconds later this month as the government tests a new emergency alert system. A siren will go off at 3 p.m. local time on April 23 and last approximately 10 seconds on all 4G and 5G mobile phones. The system is designed to broadcast urgent messages to areas that are in danger, for example if there is severe flooding or a wildfire. "It could be the sound that saves your life," Oliver Dowden, a British government minister said in a press release.

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