logo
ECB warns of risks beyond tariffs: from security to capital flows

ECB warns of risks beyond tariffs: from security to capital flows

Reuters09-07-2025
BRUSSELS, July 9 (Reuters) - The European Central Bank will consider risks beyond trade tariffs, from security concerns to potential penalties on foreign investors, when it assesses the global landscape, the ECB's chief economist Philip Lane said on Wednesday.
"This uncertainty extends beyond the calibration of new tariff regimes and includes the possibility of a broader set of non-tariff barriers, a deeper intertwining of economic policies and security policies and possible revisions to the treatment of foreign portfolio investors and foreign direct investors," Lane told an event in Brussels.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

The great currency exchange rip-off: Our shocking investigation reveals the sneaky airport tricks that are costing you money... and what you must do to get the best rates
The great currency exchange rip-off: Our shocking investigation reveals the sneaky airport tricks that are costing you money... and what you must do to get the best rates

Daily Mail​

time29 minutes ago

  • Daily Mail​

The great currency exchange rip-off: Our shocking investigation reveals the sneaky airport tricks that are costing you money... and what you must do to get the best rates

Currency firms are shortchanging travellers by as much as €150 on every £500 exchanged at airports by failing to be clear about just how poor the rates are. A Money Mail investigation found it is incredibly difficult to obtain the exchange rate at bureau de changes at airports across Britain.

Carmaker urged to address ‘serious concerns' over mass Citroën recall in UK
Carmaker urged to address ‘serious concerns' over mass Citroën recall in UK

The Guardian

time30 minutes ago

  • The Guardian

Carmaker urged to address ‘serious concerns' over mass Citroën recall in UK

The transport secretary, Heidi Alexander, has expressed 'serious concerns' about Citroën's handling of a safety recall that has left thousands of Britons unable to drive their cars. In June the car brand's parent company, Stellantis, issued an immediate and rare 'stop-drive' order for certain models because of a potentially fatal airbag safety fault. The safety alert impacted owners of its Citroën and DS Automobiles-branded cars, with 120,000 vehicles affected in the UK. In the letter to Eurig Druce, UK group managing director of Stellantis, Alexander said that the 'level of disruption experienced by UK motorists – particularly the most vulnerable – is unacceptable'. Alexander urged the company to take 'immediate steps' to improve the recall process. This meant ensuring all affected owners are 'provided with viable alternatives', whether through courtesy cars, financial compensation or at-home repairs. In the letter, first reported by the PA news agency, the minister said the existing arrangements were 'not meeting expectations'. She had received reports from MPs and their constituents that detailed distressing experiences and inadequate support with alternative transport arrangements. The consumer group Which? recently described Stellantis's handling of the recall as 'chaotic'. It said it had heard from 'many distressed drivers' – including a woman caring for her terminally ill husband who needed to get to hospital appointments – who were incurring significant expenses for hire cars, taxis or insurance fees. While Stellantis had promised to minimise the burden on consumers the 'execution of this recall has exposed significant gaps in customer support and transparency', Alexander said. Cars equipped with Takata airbags are being recalled because chemicals in the inflators may deteriorate over time, which could cause the bag to rupture. No incidents have been reported in the UK, but Stellantis issued the stop-drive order across Europe after a woman in France was killed when her airbag exploded. Driving a car with a stop-drive recall can invalidate your insurance, and it is illegal for a private seller to sell a car with a recall without disclosing it first. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Stellantis insisted that Citroën was 'fully engaged' in maximising the daily number of cars that can have their airbags replaced, adding that its Peugeot network is now authorised to also carry out the work. To date more than 72,000 vehicles have had replacement airbags fitted and Stellantis expects the majority of vehicles to be repaired by the end of September, with any remaining cases handled within weeks. Stellantis explained that with such a large number of vehicles affected it was 'inevitable' that customers could be inconvenienced in the short term. 'For each and every customer, we discuss options to support mobility. These options include replacement airbags at a dealership or at home, a courtesy car, support for other mobility options and recovery. We give priority to those with the most urgent needs.'

Poland's KGHM second quarter profit falls on currency impact
Poland's KGHM second quarter profit falls on currency impact

Reuters

time30 minutes ago

  • Reuters

Poland's KGHM second quarter profit falls on currency impact

GDANSK, Aug 19 (Reuters) - Polish copper producer KGHM ( opens new tab on Tuesday reported a 10.6% year-on-year fall in second-quarter earnings as a negative currency impact offset the benefits of higher metal prices. The company's adjusted core profit fell to 2.37 billion zlotys ($651.83 million). That was ahead of analysts' consensus forecast of 2.24 billion zlotys, according to a Reuters poll. KGHM is one of the world's largest producers of copper and silver. The state-controlled company's performance is sensitive to commodity prices and currency fluctuations, as most of its revenue is in dollars while its costs are largely in Polish zlotys. Since the start of the year, the U.S. dollar has fallen about 12% against the zloty, according to LSEG data. In the first half of 2025, the company noted that the average price of copper on the London Metal Exchange (LME) had risen to $9,431 per tonne, up 3.7% from an average of $9,090 per tonne throughout the first half of 2024. The Polish government announced in May that it would cut the country's copper mining tax from 2026, a move expected to significantly lower KGHM's cost base in the coming years. The copper miner's second-quarter net profit came in at 249 million zlotys, compared to the 315 million zloty average forecast in a Reuters poll. Revenue was 8.61 billion zlotys, against an estimate of 8.66 billion zlotys. ($1 = 3.6359 zlotys)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store