Your Daily Career Tarot Card Reading for June 27th, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
34 minutes ago
- Zawya
Rocco Forte Hotels and Emerald Pine Capital announce strategic partnership to drive Europe & Middle East expansion
Rocco Forte Hotels and Emerald Pine Capital are pleased to announce a strategic partnership aimed at enhancing the expansion of the Rocco Forte brand across Europe and the Middle East. By combining Rocco Forte's renowned operational excellence with Emerald Pine Capital's investment and asset management expertise, the collaboration creates a highly aligned team with deep capabilities across sourcing, underwriting, structuring and execution. Together, the partners will pursue repositioning, value-add, and development opportunities in gateway cities and high-demand leisure destinations. The aim is to offer a differentiated and compelling proposition for investors and a streamlined and effective process for asset owners. Charles Forte, Director of Development at Rocco Forte Hotels: "I am pleased to be able to announce our partnership with Emerald Pine Capital and I am confident that their years of experience and strong reputation within the financial world will further fortify our existing team and our expansionary efforts in Europe and beyond." Fabrizio Grena, founding partner and CEO of Emerald Pine Capital: "As the luxury hospitality sector continues to evolve, we are delighted to partner with Rocco Forte to offer a distinctive combination of expertise and skill sets to our clients and partners. This collaboration reflects our shared commitment to quality and long-term value creation in the hospitality space. We look forward to working with aligned partners on this exciting journey." About Rocco Forte Hotels Established by Sir Rocco Forte and his sister, Olga Polizzi in 1996, Rocco Forte Hotels is a collection of 15 individual hotels, resorts, residences and villas. All of the hotels are landmarks, both old and new, occupying magnificent buildings in exceptional locations. Led by a family who has been in hospitality for four generations, the hotels are united by their distinctive approach to service ensuring guests experience the best of the cities and surrounding areas. Rocco Forte Hotels comprises: Rocco Forte House, Milan; Hotel de la Ville, Hotel de Russie and Rocco Forte House, Rome; Hotel Savoy, Florence; Verdura Resort, Rocco Forte Private Villas and Villa Igiea, Sicily; Masseria Torre Maizza, Puglia; The Balmoral, Edinburgh; Brown's Hotel, London; The Charles Hotel, Munich; Hotel de Rome, Berlin; Hotel Amigo, Brussels and Hotel Astoria, St Petersburg. Future openings: The Carlton, Milan in 2025; Costa Smeralda, Sardinia and Palazzo Castelluccio, Noto in 2026; Palazzo Sirignano, Naples in 2027. About Emerald Pine Capital Emerald Pine Capital is an independent investment and asset management firm that sources, underwrites, executes, and manages real estate investments across Europe alongside institutional investors. Emerald Pine Capital was founded by Fabrizio Grena and Alessandro Ferrante, who worked together for several years at Goldman Sachs focusing on real estate direct investments, platforms, special situations and loan portfolios, deploying over €10bn of capital during their 30 years of combined investment experience.
Economy ME
15 hours ago
- Economy ME
July 2025 sees eurozone inflation steady at 2 percent as EU climbs to 2.4 percent
The Euro Area (eurozone) annual inflation rate remained steady at 2.0 percent in July, unchanged from June, according to official data released by Eurostat, the statistical office of the European Union. This marks the second consecutive month that inflation in the Eurozone has aligned with the European Central Bank's (ECB) official target of 2 percent. The stable inflation rate contrasts with the previous year's rate of 2.6 percent, indicating a continued moderation in price growth within the bloc. Euro area annual #inflation stable at 2.0% in July 2025 — EU_Eurostat (@EU_Eurostat) August 20, 2025 The inflation dynamics in the Eurozone showed a nuanced performance in July. Services made the highest contribution to the inflation rate, adding about 1.46 percentage points. This sector's inflation slightly retreated to 3.1 percent from 3.3 percent in June, tying a three-year low experienced in May. Meanwhile, the food, alcohol, and tobacco segment saw an acceleration in inflation to 3.3 percent, up from 3.1 percent in June, contributing 0.63 percentage points to the overall rate. Non-energy industrial goods inflation also increased from 0.5 percent to 0.8 percent, adding a further 0.18 percentage points. On the other hand, energy prices continued their downward trend, with deflation easing marginally from -2.6 percent in June to -2.4 percent in July, subtracting 0.23 percentage points from the inflation rate. Core inflation, which excludes volatile components such as energy, food, alcohol, and tobacco, held steady at 2.3 percent, marking its lowest level since January 2022. This steadiness suggests that underlying inflation pressures are subdued despite fluctuations in individual sectors. Variations by member state Looking at the wider European Union, the annual inflation rate rose slightly to 2.4 percent in July 2025, up from 2.3 percent in June but down from 2.8 percent a year earlier. Within the EU, inflation rates varied significantly by member state. The lowest rates were recorded in Cyprus at 0.1 percent, France at 0.9 percent, and Ireland at 1.6 percent, while the highest were seen in Romania at 6.6 percent, Estonia at 5.6 percent, and Slovakia at 4.6 percent. Compared to June, annual inflation decreased in eight member states, remained stable in six, and increased in thirteen. The European Central Bank's Governing Council kept its three key interest rates unchanged in July 2025—deposit facility at 2.00 percent, main refinancing operations at 2.15 percent, and marginal lending facility at 2.40 percent. The ECB emphasized that inflation is currently consistent with its 2 percent medium-term target. The Council's decision reflects broad confidence in the inflation outlook, acknowledging the continued easing of domestic price pressures and slower wage growth. The ECB also noted that the economy had shown resilience in a challenging global environment, despite outstanding uncertainties, especially due to ongoing trade disputes. Read more: ECB maintains interest rates at 2 percent, pausing its year-long easing cycle Investment caution among firms The ECB confirmed its commitment to a data-dependent approach, adjusting monetary policy instruments as necessary to ensure inflation remains stable around the 2 percent target in the medium term. This cautious stance demonstrates the ECB's readiness to react to changing economic conditions while preserving the smooth transmission of monetary policy across Euro Area countries. From the economic perspective, several factors underpin the inflation outlook. Wage growth has moderated, which helps restrain inflation, while consumer spending remains supported as many people continue to have secure employment and improving real incomes. Firms have exhibited caution in investment decisions due to global uncertainties and higher costs related to trade tensions and a stronger euro, which makes Eurozone exports more expensive internationally. Public spending, particularly in defense and infrastructure, along with slightly increased credit demand by firms, are expected to support economic activity.
Zawya
16 hours ago
- Zawya
European shares steady as tech-led selloff jitters cool
European shares steadied on Wednesday, as a tech-led selloff on Wall Street that has rippled through equity markets eased, while currency and rates traders honed in on a key meeting of central bankers later this week. The pan-European STOXX 600 index was nearly flat after declining by as much as 0.4% earlier in the day, pressured by weakness in tech and defence sector stocks. That early weakness followed a fall in Asian markets, where tech-heavy indexes were the biggest losers after the NASDAQ composite index dropped nearly 1.5% on Tuesday. Futures on the tech-heavy NASDAQ were just 0.2% lower on Wednesday, however, suggesting a calmer open ahead. While there was no major trigger for the selloff in tech stocks, analysts pointed to a confluence of factors, including concerns over high valuations, a general risk-off mood and U.S. President Donald Trump's growing influence over the sector. "I think we were priced for perfection in the U.S. and there was a quite a lot of complacency in markets, so some summer volatility should have been expected," said Ben Laidler, head of equity strategy at BRADESCO BBI. Trump's influence on the U.S. tech-sector has also been in focus for investors. U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel as well as other chip companies, two sources told Reuters. While the individual developments may be brushed aside by markets, they fall into the broader bucket of concerns over the institutional framework in the United States, Laidler said. The potential move comes on the back of other unusual deals Washington has recently struck with U.S. companies, including allowing AI chip giant Nvidia to sell its H20 chips to China in exchange for the U.S. government receiving 15% of the revenue from those sales. In commodities, Brent crude futures were last up 1.1% at $66.55 a barrel as investors awaited the next steps in talks to end Russia's war on Ukraine, with uncertainty over whether oil sanctions might be eased or tightened. While a meeting between Trump, Ukrainian President Volodymyr Zelenskiy and a group of European allies concluded without much fanfare, Trump said the United States would help guarantee Ukraine's security in any deal to end Russia's war there. "The U.S. is not categorically underwriting anything, any security for Ukraine, even if they're open to provide some, because we don't know the conditions under which they will. So there's quite a bit of risk left out there," said Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho. Elsewhere, Sweden's central bank kept its key interest rate on hold as expected on Wednesday, while the Reserve Bank of New Zealand cut policy rates to a three-year low and signalled further easing, sending the kiwi down by over 1%. AWAITING JACKSON HOLE The focus is now on the Kansas City Federal Reserve's August 21-23 Jackson Hole symposium, where Fed Chair Jerome Powell is due to speak on the economic outlook and the central bank's policy framework on Friday. Powell's remarks on the near-term outlook for rates will be keenly watched as traders are almost fully pricing in a rate cut next month. The minutes of the Fed's July policy meeting are due later on Wednesday, but are unlikely to spur meaningful market reactions as they pre-date weak U.S. labour market data that spurred a firming of rate cut expectations. The dollar was steady against the euro at $1.1646. Sterling was flat at $1.3498 after rising slightly in immediate reaction to data that showed UK inflation its highest in 18 months in July. The fact this was not even worse meant under-fire British government bonds rallied on the news, with the benchmark 10-year gilt yield down 5 basis points at 4.69%. The 10-year Treasury yield was marginally lower at 4.29%. "We expect the dollar to depreciate largely because US economic performance no longer supports the currency's high valuation, and we think the softening labor market is providing late-summer support to that view," analysts at Goldman Sachs said in a note. Elsewhere, spot gold rose 0.3% to $3,326.89 an ounce. (Additional reporting by Rae Wee. Editing by Sonali Paul and Mark Potter)
