Global Euro Moment Needs Decisive Actions, ECB's Lagarde Says
European Central Bank President Christine Lagarde called on policymakers to seize the moment and increase the euro's global profile as Donald Trump's policies undermines confidence in the US dollar.
'This moment of change is an opportunity for Europe: it is a 'global euro' moment,' she wrote in an op-ed in the Financial Times published Tuesday. 'To seize it and enhance the euro's role in the international monetary system, we must act decisively as a united Europe taking greater control of its own destiny.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
16 minutes ago
- Bloomberg
ECB Amends Bank Capital Reviews to Reflect Extreme Weather Risks
The European Central Bank is embedding climate risk into regular reviews of how well banks can absorb losses, marking a new chapter in its supervisory approach. The intention is to 'incorporate, more decisively and in a more business-as-usual way, climate change and nature-related risks' in the ECB's methodology for its so-called Supervisory Review and Evaluation Process, Patrick Amis, director general for specialized institutions and less significant institutions, said in an interview.
Yahoo
21 minutes ago
- Yahoo
UK Power Rental Market Assessment & Forecasts 2025-2030 with Aggreko, United Rentals, Sunbelt Rentals, Speedy, Caterpillar, Atlas Copco, Cummins, and KOHLER Leading
The UK Power Rental Market, valued at USD 335 million in 2024, is projected to reach USD 451.10 million by 2030, growing at a 5.08% CAGR. Key drivers include government energy transition policies and infrastructure investment, impacting rental prices and demand. Diesel remains dominant, but alternative fuels gain traction. UK Power Rental Market Dublin, June 17, 2025 (GLOBE NEWSWIRE) -- The "UK Power Rental Market - Strategic Assessment & Forecast 2025-2030" report has been added to UK Power Rental Market was valued at USD 335 Million in 2024, and is projected to reach USD 451.10 Million by 2030, rising at a CAGR of 5.08%. The UK is a leading power rental market in Europe, with total rental equipment valued at USD 6–7 billion in 2024, according to the Europe Rental Association (ERA). The power rental segment is highly fragmented, with the top four companies holding only one-third of the market. The UK rental market offers a diverse range of equipment, from large earth-moving machines to small power tools. Diesel-powered equipment continues to dominate the UK power rental market. However, growing environmental concerns are driving demand for alternative fuels such as HVO, hydrogen, and biofuels. The 375 KVA–1000 KVA range sees the highest demand due to its widespread use across industries like construction and mining. Power rentals are especially in demand in the construction, utilities, and IT & data center sectors, fueled by rising investments in infrastructure and a surge in data center development. England and Scotland show particularly strong demand, with extreme weather conditions—including heavy rainfall and storms—further increasing the need for temporary power solutions. Generators are the most commonly rented power equipment. Diesel generators are widely used for backup power in events, retail, and utilities, while natural gas-powered generators are gaining a growing share of the market. MARKET DRIVERS & OPPORTUNITIES UK Government Policies for Energy Transition Support the Power Rental Market Growth The UK government has increased its focus on achieving the goal of carbon neutrality in 2025. The government has introduced several policies for energy transition across the country. The government planned to invest in a cleaner and resilient energy system under the Powering up Britain program in 2024. It aims to achieve the goal of carbon neutrality by 2050 through various initiatives such as expanding renewable energy sources such as wind, hydro & solar, and boosting the domestic energy production of the country. In 2024, the Industrial Decarbonization and Hydrogen Revenue Support (IDHRS) scheme witnessed total funding of USD 27.9 million. The scheme allocated the funds for industrial carbon capture, utilization, & storage projects and hydrogen production. The funding is also directed towards the development of new hydrogen-to-power business models. Demand for Rental Equipment Backed by Infrastructure Investments by the Government In 2024, the UK government has committed to unlocking USD 95.92 billion for private investment by 2030 and supporting the development of green industries by 2050. The government has laid out USD 490.2 billion for the infrastructure in its National Infrastructure and Construction Pipeline. This investment will include USD 74.6 billion for the transport infrastructure and USD 45.8 billion for social structures such as schools, housing, and healthcare. Government infrastructure investment is focused on accelerating the construction of critical infrastructure projects across the country. Key focus areas of investment include decarbonization of the electricity grid and investment in net-zero power generation capacity. Investment is directed toward clean energy generation through wind, solar, and nuclear, and upgrading the energy distribution infrastructure. In addition to this, the government is also planning to invest in housing projects under the New Town Development projects and the development of essential infrastructure such as healthcare facilities and public transport. Investment is also directed toward the development of rail and roadways to improve connectivity across the country. Such a growing number of investments in the project is projected to support the U.K. power rental market growth. Use of Alternative Fuel in Rental Equipment In 2025, European rental companies are focusing on reducing carbon emissions and transitioning to more sustainable energy solutions. Presently, diesel-powered rental equipment is mainly used for rental purposes across the UK. However, the rental companies are exploring alternative fuel options like biofuels, hydrogen, and electricity for powering their rental equipment. In June 2021, Aggreko undertook its first pilot project of a 50kVA hydrogen combustion power generation unit at its depot in Moerdijk, Netherlands. The companies in the U.K. power rental market are attempting to transition towards fleets powered by low-carbon fuel alternatives such as hydrotreated vegetable oil (HVO) or natural gas, which are less polluting than diesel. HVO is made from waste vegetable and animal fats that can be used as a replacement for diesel, which leads to high carbon emissions. Fluctuation in Diesel Prices Impacts U.K. Power Rental Market Diesel-powered generators have a significant market share of over 70% in the U.K. power rental market. It is mainly used in construction, mining, retail, oil & gas & IT industries. However, fluctuations in the prices of diesel can negatively impact the U.K. power rental market. In 2025, the diesel prices witnessed an increase, with the average price rising from 142.9p in January to 145.7p in February 2025. The prices of diesel have increased fourth consecutive month. The prices increased by over 4% in February 2025 compared to February 2024. Several factors have led to the rise in diesel prices in the UK market. Rise in crude oil prices in the global market, supply chain constraints, and variation in currency exchange of the pound & dollar. U.K. POWER RENTAL MARKET GEOGRAPHICAL ANALYSISAccording to an IEA report, the UK's total electricity consumption in 2024 was 324.084 GWh. The power demand was highest in the England region, followed by Scotland and 2024, the UK experienced extreme weather conditions, including heavy rainfalls and thunderstorms, such as those from storms Henk, Kathleen, and Bert, which caused flooding and strong winds that disrupted the power supply. As a result, these regions are expected to see higher demand for power rentals and support the U.K. power rental market growth. IMPACT OF TARIFFS In 2025, the UK government imposed a 10% baseline tariff on goods imported from the UK. In addition to the baseline tariff, the US government also imposed a 25% tariff on all aluminum, steel, automobile parts & passenger vehicles. However, the UK government has not announced any new tariffs on US goods yet. The UK government is seeking a consultation on potential tariffs on the US. The US government announced a temporary pause in tariff hikes, but the situation remains uncertain after 90 days, with a 10 % minimum tariff in effect. This trade tension significantly impacts the UK, which imports machinery & transport equipment, including power equipment such as generators. According to National Statistics, the UK imported over USD 7 billion of mechanical power generators in 2024. With the potential implementation tariff, the cost of importing the generator for rental purposes would rise significantly due to increased duties, shipping complexities, and currency fluctuations. These added costs are likely to be passed on to UK consumers, causing a notable increase in rental prices of power equipment. As a result, demand for locally manufactured power equipment is expected to grow. Some power rental companies, such as United Rentals & Finning CAT, are importing products from the United States market to rent in the UK market. A surge in tariff rates is expected to increase the rental prices of the equipment. However, the UK government stated its priority is to strike a deal with the US that would lead to the removal of the newly imposed U.S. tariff. COMPETITIVE LANDSCAPE Prominent Vendors Aggreko United Rentals, Inc. Sunbelt Rentals, Inc. Speedy Caterpillar Atlas Copco Cummins Inc. KOHLER Other Prominent Vendors WB Power Services Boels Rental CES Power The Hireman Vital Power SEGMENTATION & FORECAST Segmentation By Fuel Natural Gas Diesel Others (Propane, Hydrogen, Renewable Sources) Segmentation By Power Rating < 75KVA 75-375KVA 375-1,000KVA Above 1,000 KVA Segmentation By Equipment Generators Load Banks Transformers Others Segmentation By End-User Construction Retail Oil & Gas Mining Events Utilities IT & Data Center Manufacturing Others Segmentation By Application Standby Continuous Peak Shaving Key Attributes: Report Attribute Details No. of Pages 100 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $335 Million Forecasted Market Value (USD) by 2030 $451.1 Million Compound Annual Growth Rate 5.0% Regions Covered United Kingdom For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment UK Power Rental Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
Marsh unveils insurance facility for data centre construction in Europe and UK
Marsh, the insurance broker and risk advisor under Marsh McLennan, has launched Nimbus, an insurance facility targeting the construction of large-scale data centres in the UK and Europe. The facility is supported by a panel of insurers from Lloyd's and company markets in London and Europe. It combines traditional construction all-risks, delay in start-up, property damage and business interruption coverage. Nimbus offers up to €1bn in construction all-risks coverage and up to €350m for delay in start-up. The launch aligns with a surge in data centre construction projects in the region. Technology companies are racing to meet growing demand for increased processing and storage capacity. The facility aims to give clients access to specialised coverage to enable more efficient management of data centre construction projects. Marsh Specialty UK Construction, Infrastructure & Surety CEO Kelly Looney said: 'Data centres are fast becoming the fourth utility and are the engine rooms of the global economy. Given the crucial role they now play in telecommunications, computer systems and data storage, it is essential that their construction is completed on time and on budget. 'Marsh is committed to enabling the technology sector to meet growing demand for data centre infrastructure; Nimbus provides clients with project-specific coverage via a streamlined process that expedites the delivery of data centre construction projects and ensures a seamless transition to operational readiness.' This announcement follows Marsh's recent launch of its Data Centre Insurance and Risk Management Services and the introduction of CyberShore Bermuda, an excess cyber insurance facility providing up to $30m in coverage. "Marsh unveils insurance facility for data centre construction in Europe and UK " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
