European shares fall as investors digest earnings deluge; Adidas sinks
shares
fell on Wednesday, weighed down by
bank stocks
, as
corporate earnings
took centre stage ahead of a packed schedule, which includes central
bank
announcements, key data and the approaching August 1 tariff deadline this week.
German sportswear brand Adidas warned that higher U.S. tariffs would add around 200 million euros ($231 million) to its costs in the second half, sending shares tumbling 7% to a near four-month low. Peer JD Sports fell 0.8%.
Banks
index
dipped 0.9% a day after hitting its highest since September 2008. Swiss bank UBS rose 3% after reporting its second-quarter profit more than doubled from last year's, while HSBC Holdings fell 5% on posting first-half pretax profit below estimates.
The pan-European STOXX 600 index dropped 0.3% by 0720 GMT. Regional bourses were mixed, with Germany's blue-chip DAX shedding 0.3%, while France's CAC 40 rising 0.1%.
Miner Rio Tinto dropped 1.4% after reporting its smallest first-half underlying profit in five years on subdued iron ore prices.
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The outlook for European corporate health has improved, earnings forecasts showed on Tuesday, after the European Union struck a framework trade deal with the U.S. on Sunday following weeks of negotiations.
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News18
3 hours ago
- News18
Europe Made Travel Easier: Schengen Visa To Go Fully Digital, What It Means For Indians
Last Updated: The new rules will make Schengen visa process fully digital. That means no more physical visa stickers in passports and no more long queues at consulates to submit paper forms For millions of Indians, the process of securing a Schengen visa has long been a necessary — but often tedious — part of planning a European holiday or business trip. But that's about to change. The European Union has officially announced that the Schengen visa system will go fully digital, making visa applications easier, faster, and more secure. Here's everything you need to know about the digital Schengen visa rollout, how it works, and what it means for Indian travellers heading to Europe. What Is A Schengen Visa? The Schengen visa is a short-term visa that allows non-EU nationals to travel across 29 European countries (as of 2024) without needing separate visas for each. This includes popular destinations like France, Germany, Italy, Spain, the Netherlands, and Switzerland. In 2023 alone, Indians filed over 600,000 applications for Schengen visas, with the highest number going to countries like France and Germany. What's Changing? Under the new rules approved by the European Council and set to be implemented by 2026, the Schengen visa process will become completely digital. That means no more physical visa stickers in your passport and no more long queues at consulates just to submit paper forms. The only exception will be first-time applicants or those with expired biometric data (more than five years old). They will still need to visit a consulate or visa application centre to submit fingerprints and get their photo taken. For repeat travellers, the entire process could become 100% virtual. Why Is The EU Going Digital? There are several reasons behind this major shift: Efficiency: The new system will drastically cut down processing times and reduce errors caused by manual handling. Security: A digital system helps prevent fraud and misuse of visa stickers, which can be forged or altered. Convenience: Travellers can apply from anywhere, eliminating the need to visit embassies or third-party visa centres for every trip. Cost Savings: Governments and applicants alike will benefit from streamlined operations and fewer administrative bottlenecks. How Will The New Digital Schengen Visa Work? Once the platform is live, Indian applicants will go through the following steps: Create an Account on the EU Visa Portal: Enter personal details, travel history, and upload necessary documents (passport, itinerary, proof of accommodation, insurance, etc.) Select The Destination Country: If you are visiting multiple Schengen countries, you must apply to the one where you'll spend the most time. Pay the Visa Fee Online: Currently, the Schengen visa fee is €80 for adults and €40 for minors. The amount remains unchanged for now. Submit Biometric Data (If Required): First-timers must still visit the visa application centre for fingerprints and a photograph. Once submitted, the biometrics remain valid for five years. What This Means For Indian Travellers For Indian citizens — especially frequent flyers, business professionals, and holidaymakers — this is welcome news. Last year, nearly 3 crore Indian nationals went to foreign countries, an 8% increase from 2023 that saw a 29% year-on-year jump to 2.79 crore, crossing the pre-pandemic peak of 2.69 crore that was achieved in 2019, as per Ministry of Tourism data. In the first two months of 2025, 50.9 lakh Indians travelled abroad, up 6% from the corresponding period last year, tourism ministry data showed. Europe continues to be the top travel destination for Indians, with Switzerland, France, Austria, Germany leading the pack, and Eastern European countries like Czech Republic, Hungary, and Croatia gaining popularity, the report said. Currently, the visa process involves collecting multiple documents, physically submitting them to VFS or consular offices, and waiting weeks for updates. The digitisation will: Avoid issues like misplaced passports or delayed courier returns However, Indian travellers must still meet all the existing requirements: sufficient financial proof, confirmed return tickets, travel insurance, and a genuine purpose of travel. Will Visa Rejections Still Happen? Yes. A digital system does not mean relaxed rules. Visa officers will still assess the credibility of each application. Currently, Indian applicants face rejection rates between 15% and 25%, depending on the country. Strong documentation and financial clarity will still be critical. That said, digital processing could help avoid rejections caused by administrative errors or missing forms — a common complaint with physical submissions. When Will This Be Implemented? The European Commission has stated that the digital Schengen visa platform will be ready for rollout by 2026. This gives time for IT infrastructure to be built, personnel to be trained, and countries to harmonise their visa policies on the new platform. Some pilot programmes may begin as early as late 2025, particularly in high-volume countries like India, China, and Turkey. Could This Mean Easier Visas In The Future? Digitisation could open the door to multi-entry and longer-validity visas for travellers from trusted countries like India. Already, several EU nations are pushing for 'trusted traveller" programmes that would offer 3- or 5-year visas to applicants with a clean travel history. A digital system makes it easier to track, monitor, and reward such applicants. There is also potential for integration with India's own digital platforms (like DigiLocker) to allow for faster documentation verification. The move to a fully digital Schengen visa system marks a major shift in how Europe manages its borders — and how Indian travellers plan their trips. While challenges remain around biometric verification and high rejection rates, the digitalisation promises faster service, greater transparency, and fewer logistical headaches. For Indian students, professionals, and families dreaming of strolling through Paris, skiing in the Alps, or closing deals in Berlin, the future just got a little easier — and more digital. top videos View all About the Author Shilpy Bisht Shilpy Bisht, Deputy News Editor at News18, writes and edits national, world and business stories. She started off as a print journalist, and then transitioned to online, in her 12 years of experience. Her More tags : Europe Indian Passport Schengen Visa view comments Location : New Delhi, India, India First Published: August 01, 2025, 12:32 IST News zip Europe Made Travel Easier: Schengen Visa To Go Fully Digital, What It Means For Indians Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
4 hours ago
- Mint
‘He Likes Swiss Watches!': Trump Shocks Horology With Tariffs
The Trump administration jolted Switzerland with punitive new tariffs. Few seemed to be more taken aback than buyers and sellers of Swiss watches. Oliver R. Müller, a luxury watch consultant based in Switzerland, was indignant at the blow that tariffs will likely inflict on the country's watch industry, which has recently been relying on demand from the US to offset fading sales in China. 'It's another burden that comes on top of many others,' Müller said in an interview. The administration's 39% tariff on all Swiss imports, if passed along from sought-after brands like Rolex, Patek Philippe and Omega to distributors in the US, would likely lead to retail-price increases of 12% to 14%, Müller estimated. That would add about $1,000 to the $9,500 price of a stainless steel Rolex Submariner. Swiss watches are a longstanding signal of affluence, and over the years the president has been seen wearing various high-end timepieces, including a Rolex. Members of his family and his administration have also sported Swiss watches in public. For observers, that made the 39% levy all the more vexing. 'On top of it all, he likes Swiss watches!' Müller said. High-end watches have been drawing a growing American fan base in recent years, with obsessive owners showing off their collections on social media. The chain retailer Watches of Switzerland, which has locations in tony shopping areas across the US, said in a statement that it would 'continue to work closely with our brand partners to mitigate any potential impact.' Trump administration officials didn't seem to be focused on watches when they put the tariffs in place, instead citing pharmaceuticals as a driving force in the trade imbalance between the countries. The US has no large luxury-watch making industry of its own. Online watch enthusiasts have long clocked the make and reference numbers of the high-end watches of Trump officials. FBI Director Kash Patel has been spotted wearing a Breitling. Former DOGE czar Elon Musk has a TAG Heuer with the SpaceX logo. Secretary of State Marco Rubio — who in a previous political life declared that Trump, had he not inherited a fortune from his father, would be 'selling watches in Manhattan' — has worn a Rolex, too. There were already warning signs in the Swiss watch industry before Trump's tariffs. Exports fell 5.6% in June compared with a year earlier, according to the Federation of the Swiss Watch Industry, a trade group. That was driven by 'significant declines' in sales in the US, as well as Japan and Hong Kong, the group said in a monthly report. Trump lent his name and signature to a line of MAGA-coded timepieces last year, including a $100,000 'Swiss-made' Tourbillon. The makers of the watch, a firm registered as TheBestWatchesonEarth LLC, didn't respond to a request for comment sent through an intermediary. The site states that the watches 'are not political and have nothing to do with any political campaign.' With assistance from Chris Rovzar.
Business Standard
5 hours ago
- Business Standard
Why Learning Foreign Languages Is the New Career Power Move for Indian Youth
India PR Distribution New Delhi [India], August 1: In today's globalized world, the ability to communicate in more than one language is not just a skill--it's a career accelerator. As India's young workforce continues to compete on a global stage, learning foreign languages such as German, French, Japanese, and Spanish has become one of the smartest moves for career growth, overseas education, and international job opportunities. Foreign Languages Open Global Career Doors From multinational corporations to international universities, the demand for multilingual professionals is on the rise. Countries like Germany, Japan, and France are actively welcoming Indian students and skilled professionals. In many cases, proficiency in the native language is either a requirement or a strong advantage. For example, German companies operating in India often prefer candidates who can speak and understand German. Similarly, Japan offers a large number of technical internships and long-term employment options for Indians with Japanese language skills. The ability to communicate in the local language not only improves the quality of professional interactions but also makes integration into society smoother. Boosting Employability and Salary Potential Hiring managers consistently place language skills among the top desirable traits in global candidates. Bilingual and multilingual individuals are often offered better job roles and salary packages. In sectors like hospitality, aviation, international business, IT, and translation services, foreign language proficiency is a competitive edge. Students who pursue international education also benefit greatly. Whether applying to German public universities, enrolling in French business schools, or preparing for Japanese corporate internships, language skills strengthen a student's profile. Many institutes are now helping bridge this gap. The Indian Institute of Foreign Languages offers structured programs in German, French, Japanese, Spanish, and English--both online and offline--making it easier for students across India to gain certification and fluency. India's Youth are Catching On More Indian students and professionals are recognizing the value of foreign languages. Enrollments in language certification programs have increased significantly over the past few years, especially among students preparing for study abroad, jobs in Europe or Japan, and global business ventures. With the rise of digital learning, students from cities like Bangalore, Mumbai, Delhi, and even Tier 2 towns can now access high-quality language courses from the comfort of their homes. Institutes offering weekend and evening batches have made it easier for working professionals to learn without disrupting their daily routines. A Lifelong Skill With Endless Benefits Beyond careers, learning a foreign language also improves memory, cognitive flexibility, and cross-cultural understanding. It builds confidence, sharpens communication, and makes international travel more rewarding. In an era where remote jobs, overseas migration, and global networking are common, the ability to speak an additional language is no longer optional--it's essential. Where to Begin? For Indian youth looking to get started, it's important to choose the right course and certification. Most global employers and universities recognize international language tests such as Goethe-Zertifikat (German), JLPT (Japanese), DELF/DALF (French), and DELE (Spanish). Institutions like the Indian Institute of Foreign Languages not only prepare students for these exams but also provide career guidance, flexible timing, and access to native-speaking trainers and online learning tools. Conclusion In a world that's becoming more interconnected every day, foreign language skills are the bridge between Indian talent and global opportunity. Whether your goal is to study in Germany, work in Japan, or run a business with international clients, speaking a second language gives you a powerful head start. For India's young professionals and students, learning a foreign language may be the smartest career move they make this decade. (ADVERTORIAL DISCLAIMER: The above press release has been provided by India PR Distribution. ANI will not be responsible in any way for the content of the same)
