Capital Market Should Get Push From Private Savings, Poland Says
Households in Europe should get incentives to move some of their savings to boost capital markets, Poland's central bank Governor Adam Glapinski said.
'Banks are not doing their job when it comes to financing the corporate sector — in particular on innovative projects,' Glapinski told his European counterparts in Warsaw on Friday, according to a statement from the central bank. 'Therefore, we could consider introducing incentives for households to transfer some of their large savings from banks to the capital market.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
an hour ago
- Miami Herald
Ford's Hot Hatch Is Now Officially History
The end is here for Ford's last hot hatch as the company confirmed to Motor1 that every factory build slot for the Focus ST is spoken for. "All Focus ST factory orders until the end of production have now been reserved," European communications manager Finn Thomasen said. Dealers across the Continent may still have a few unclaimed cars hiding in back lots, but once those are gone-and when Focus production stops in November-the book will officially close on Ford's 45-year hot-hatch chapter. The Focus joins a growing list of Ford passenger cars already in the rear-view mirror. The Fiesta bowed out in 2023, the Mondeo in 2022, and the tiny Ka back in 2020. Without them, Ford's European portfolio is dominated by crossovers such as the Puma and Kuga. The shift has taken a bite out of sales: through April, Ford moved 149,601 vehicles in the EU, U.K., and EFTA markets-down 2.2% year-over-year and less than a third of Volkswagen's haul over the same period. Even Hyundai and Kia have pulled ahead, underscoring how much ground Ford has ceded without its affordable hatchbacks. Yes, the seventh-generation Mustang still flies the performance flag, but it's hardly a volume play. EU taxes punish engines bigger than two liters, dogging the 5.0-liter V-8, while the smaller 2.3-liter EcoBoost was pulled from European order books at the end of 2020. The pony car, therefore, lives on as a niche halo, not a substitute for the daily-drivable, budget-friendly thrills once delivered by ST-badged Fiestas and Focuses. Whether Ford ever revisits the hot-hatch formula likely depends on batteries, not boost pressure. Former Ford of Europe boss-now VW sales chief-Martin Sanders has hinted that the Blue Oval could tap further into Volkswagen's MEB electric platform, the foundation for the forthcoming Explorer and Capri EVs. VW has already promised an electric GTI; a battery-fueled Fiesta ST or Focus ST revival isn't unthinkable if the economics line up. For now, though, enthusiasts must look to the used market or pivot to rival brands still flying the internal-combustion hot-hatch flag. The Fiesta Supersport of 1980 lit the fuse; the Escort RS, Fiesta XR2, and decades of ST variants kept the fire roaring. With the Focus ST's curtain call, the combustion-powered Ford hot hatch becomes history. What replaces it, if anything, will almost certainly hum rather than howl. Until that day arrives, the faithful will remember the glory years and, if they're lucky, snag one of the last STs before they're gone. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
4 hours ago
- Yahoo
China says it may speed up rare earths application approvals from EU
By Brenda Goh SHANGHAI (Reuters) -China is willing to accelerate the examination and approval of rare earth exports to European Union firms and will also deliver a verdict on its trade investigation of EU brandy imports by July 5, its commerce ministry said on Saturday. Price commitment consultations between China and the EU on Chinese-made electric vehicles exported to the EU have also entered a final stage but efforts from both sides are still needed, according to a statement on the Chinese commerce ministry's website. The issues were discussed between Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic in Paris on Tuesday, according to the statement. The comments mark progress on matters that have vexed China's relationship with the European Union over the past year. Most recently, China's decision in April to suspend exports of a wide range of rare earths and related magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. The ministry said China attached great importance to the EU's concerns and "was willing to establish a green channel for qualified applications to speed up the approval process." Commerce Minister Wang during the meeting "expressed the hope that the EU will meet us halfway and take effective measures to facilitate, safeguard and promote compliant trade in high-tech products to China," according to the statement. Chinese anti-dumping measures that applied duties of up to 39% on imports of European brandy - with French cognac bearing the brunt - have also strained relations between Paris and Beijing. The brandy duties were enforced days after the European Union took action against Chinese-made electric vehicle imports to shield its local industry, prompting France's President Emmanuel Macron to accuse Beijing of "pure retaliation". The Chinese duties have dented sales of brands including LVMH's Hennessy, Pernod Ricard's Martell and Remy Cointreau. Beijing was initially meant to make a final decision on the brandy duties by January, but extended the deadline to April and then again to July 5. China's commerce ministry said on Saturday that French companies and relevant associations had proactively submitted applications on price commitments for brandy to China and that Chinese investigators had reached an agreement with them on the core terms. Chinese authorities were now reviewing the complete text on those commitments and would issue a final announcement before July 5, it said. In April, the European Commission said the EU and China had also agreed to look into setting minimum prices of Chinese-made electric vehicles instead of tariffs imposed by the EU last year. China's commerce ministry said the EU had also proposed exploring "new technical paths" relating to EVs, which the Chinese side was now evaluating.
Yahoo
4 hours ago
- Yahoo
British holidaymakers to miss out on compensation after EU rule change
Britons will miss out on compensation for delayed flights after Brussels adopted a rule change following complaints from airlines. Payouts that were previously triggered by delays exceeding three hours will now only be made after four hours of holdups, European transport ministers agreed. The new regulation, hammered out following a decade of discussions and bargaining over passenger compensation, will apply to all services from EU countries to the UK. For the time being, travellers headed from Britain to the Continent will still qualify for a refund when flight delays hit the three-hour mark, unless they are flying with an EU-registered airline. While raising the compensation threshold, ministers also agreed to increase the minimum level of payment from €250 (£210) to €300 for shorter journeys and to €500 for those above 3,500km (2,175 miles). The original regulation, known as EU261, was passed in 2004 with the aim of ensuring that passengers received money and assistance in the event of flights being cancelled at short notice. Following Brexit, the UK adopted it into law so that the rights of travellers remained unchanged. However, the Government will now have to decide whether to adopt the amendments for outbound flights or stick with the original version. Taking no action might be welcomed by consumer groups but would have consequences for UK airlines, which would be at a disadvantage to their European rivals. It could also affect fares, with Ryanair having claimed that EU261 costs passengers £7 per ticket. Airlines for Europe, an industry group, had pressed for a higher compensation threshold, arguing that extending it to five hours – as originally proposed by the European Commission – would allow 70pc of flights that are cancelled to be rescued. It argued said that airlines inevitably scrapped flights once compensation was triggered, especially since the payouts involved were often higher than the ticket prices charged. It said a five-hour threshold would have made it more practical for carriers to fly in replacement aircraft so that more flights would get away, potentially benefiting 10m passengers a year. A spokesman said: 'Getting to their destination is the primary concern of passengers, even if it means getting to bed or arriving at their holiday resort late. But with a low cancellation threshold it makes more sense to call off the flight and take that hit.' Airlines have also railed against the fact that the compensation applies whether delays are caused by a crew shortage or technical issue that might be laid at their door, or by severe weather or air traffic control issues beyond their control. A number of extraordinary circumstances are expected to be added as part of revisions to 31 different air passenger rights. The revisions must still clear the European Parliament but are expected to become law in the bloc by the end of the year. The Department for Transport said the UK did not have to amend its legislation in line with any changes from the EU, and that any potential future reforms would require careful consideration on their merits, and be subject to public consultation. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
