
DWS, Flow Traders and Galaxy-Backed Venture Launches Euro Stablecoin
The token — called EURAU — is launching on the Ethereum blockchain and is fully collateralized with reserves held at multiple European banks, the company, called AllUnity, said in a statement on Thursday. The stablecoin is aligned with the European Union's regulatory framework for cryptoassets, the company said. Bullish will serve as its premier listing exchange.

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Business Insider
32 minutes ago
- Business Insider
Tesla Stock (TSLA) Charges Higher on Plans to Light Up the U.K.
Electric vehicle (EV) maker Tesla (TSLA) is hoping to light up the U.K. in the coming months by entering the country's energy supply market. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The company has reportedly sought approval for an energy license from regulator Ofgem to supply British households and take on giants such as British Gas owner Centrica and Octopus Energy. Tesla stock was over 1% higher in pre-market trading. Energy Application Tesla Energy Ventures applied for the license last month, according to a new filing published by industry regulator Ofgem, and hopes to start switching on supply next year. The application was signed by Andrew Payne, who has worked for Tesla since 2016 and runs the company's European energy business. Tesla is perhaps best known for its struggling electric vehicle business, where sales have been battered this year by a combination of sterner competition and chief executive Elon Musk's volatile on and off relationship with President Trump. This, in turn, has led to a volatile share price performance. But it also has a burgeoning solar energy and battery storage business and has been an electricity supplier in Texas for the past three years. Energetic Musk Tesla's energy business saw total energy generation and storage revenue jump 67% year over year to more than $10 billion in 2024. After deploying 14.7 gigawatt hours (GWh) of storage in 2023, Tesla more than doubled this figure to 31.4 GWh in 2024. Its Megapack product – a grid-scale battery storage solution designed for utilities and large-scale commercial customers, has led the way. The company is producing Megapacks at its dedicated Lathrop, California, facility, and recently started production at a second Megapack factory in Shanghai, with a target production of up to 40 GWh of capacity per year. The British business is expected to be branded TeslaElectric and could focus on supplying electricity to consumers who own Tesla products such as cars or batteries. Indeed, according to industry experts, Tesla is in a strong position in the U.K. to start supplying if the license application is approved. It has sold more than a quarter of a million EVs and tens of thousands of home storage batteries, called Powerwalls, in the UK, which could help it gain access to a sizeable customer base for an electricity supply business. Is TSLA a Good Stock to Buy Now? On TipRanks, TSLA has a Hold consensus based on 13 Buy, 15 Hold and 8 Sell ratings. Its highest price target is $500. TSLA stock's consensus price target is $305.37, implying a 7.37% downside.
Yahoo
an hour ago
- Yahoo
India attacks US and Europe's 'double standards' in their trade relationship with Russia
India has lashed out at the United States and the European Union, criticising what it described as "double standards" over their trade relations with Russia, after US President Donald Trump threatened to impose higher tariffs on Indian goods due to New Delhi's continued import of Russian oil. "The countries criticising India are themselves engaged in trade with Russia," India's Ministry of External Affairs said in a statement on Monday evening, adding that "it is unjustified to target India alone". It noted that the European Union conducted trade with Russia worth €67.5 billion ($78.02bn) in 2024, including record LNG imports of 16.5 million metric tonnes. According to the statement, the US continued to import Russian uranium hexafluoride for use in the nuclear power sector, along with palladium, fertilisers and chemicals, without clarifying the source of this information. This escalation follows direct threats made by Trump on 31 July, announcing 25% tariffs on Indian goods exported to his country, while also threatening unspecified sanctions against India's purchases of Russian oil, in what observers described as a sudden escalation in relations between Washington and New Delhi. India, one of the largest importers of Russian oil, imported about 1.75 million barrels daily between January and June 2025, up 1% from the same period last year. The EU in July imposed sanctions on India's Nayara Energy, a major refiner in which Russia's Rosneft holds a majority stake. New Delhi has maintained that it does not recognise "unilateral sanctions" imposed by the EU. New Delhi's scathing response Both Prime Minister Narendra Modi's ruling Bharatiya Janata Party (BJP) and the main opposition Congress Party condemned the ongoing US criticism. "Trump's insulting remarks hurt the dignity of Indians," said Congress MP Manish Tiwari, adding: "It is time to put an end to this incessant bullying and intimidation." BJP vice-president Baijayant Jai Panda recalled a famous quote by Henry Kissinger on the X platform: "To be an enemy of America may be dangerous, but to be a friend of America is deadly." Trade experts believe that the upcoming US tariffs could cause significant damage to the Indian economy. Ajay Srivastava, of the Global Trade Research Initiative in New Delhi, said he expects India's exports to the US to fall 30% in the current fiscal year to $60.6bn from $86.5bn in fiscal 2025. The trade tension was directly reflected in the markets, with Indian stock indices plummeting after Trump's latest threats. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Is August the worst month to invest in European stocks?
European equities have entered what is historically the most challenging stretch of the calendar year, as August and September consistently deliver the weakest returns for the region's stock markets. Following a strong first half in 2025 and a slightly positive July, history suggests that the summer momentum in European equities often loses steam as August arrives. The month is typically defined by thinner trading volumes, greater market sensitivity to economic and geopolitical headlines, and a consistent pattern of higher volatility. August: The weakest month for European indices Analysis of the past three decades reveals a clear seasonal downturn in August. The EURO STOXX 50, Europe's blue-chip benchmark, has averaged a 1.66% decline during the month over the past 30 years, making it the worst-performing month of the year. It has ended August in positive territory only 43% of the time, and the broader STOXX Europe 600 tells a similar story. Over the past 24 years, this index has fallen by an average 0.7% in August, also with a 43% winning ratio. The most brutal August came in 1998, when the EURO STOXX 50 plunged 14.4%, followed closely by 2001's 13.79% loss. Country indices echo August's negative trend Zooming in on national markets, the pattern of August weakness is equally pronounced. This period is the weakest month for Germany's DAX, which posts an average decline of 2.2% and finishes in positive territory just 47% of the time. In France, the CAC 40 drops by 1.47% on average in August, narrowly ahead of September's 1.49% average fall, and sees only a 37% winning rate. Italy's FTSE MIB and Spain's IBEX 35 also see the negative sign, logging average August losses of 0.7% and 0.9%, respectively. German stocks: Some of the weakest August seasonality A group of Germany's blue chips consistently show downward August bias, with some of them marking it as their worst month of the year, both in terms of returns and win probability. According to TradingView data, some of the hardest-hit stocks include: • Thyssenkrupp AG leads the decline, tumbling an average 4.6% in August with a win rate of just 30%, meaning it has posted gains in only 9 of the past 30 years. • BMW AG averages a 4.1% loss in August with just a 37% win rate. Volkswagen AG, meanwhile, falls 3.3% and ends the month higher only 27% of the time — proof that even automakers aren't spared from late-summer volatility. • Deutsche Bank AG, Germany's largest lender, averages a 3.47% drop in August and matches Thyssenkrupp's 30% win ratio. • Utility giant SE and industrial titan Siemens AG also feel the seasonal drag, both slipping by nearly 2%, with win rates of 37% and 40%, respectively. • Deutsche Börse AG, operator of Germany's stock exchange, and consumer goods firm Beiersdorf AG both see their weakest performance in August, falling 1.72% and 1.66% on average, with win rates of 48% and 39%, respectively. Bottom line: August's seasonal slump hard to ignore With the EURO STOXX 50 and STOXX 600 up 8% and 7%, respectively, European equities have delivered a solid year-to-date performance. Much of this rebound has come on the back of a strong recovery from April's tariff-induced downturn, mirroring a broader global equity upswing. But history warns that August marks a persistent seasonal soft spot — particularly for Germany's corporate heavyweights, which tend to underperform more than their European peers. From broad indices to blue-chip stocks, the month shows a consistent pattern of lower returns, thinner liquidity, and heightened vulnerability to negative news flow. While no seasonal trend guarantees future performance, August remains, by many measures, the most challenging month for European investors. Sign in to access your portfolio