Economy News in English
Latest economy headlines from Dutch news, translated into English.
It was the authorities, not the farmers, who failed during Brabant protest, lawyer says
Criminal defense lawyer Willem Jebbink argues that authorities, rather than farmers, are responsible for the recent highway blockades in Brabant. He contends that police failed to properly facilitate ...
Highest court blocks Shell's plans off the coast of South Africa
The Constitutional Court of South Africa has ruled that Shell is prohibited from conducting oil and gas exploration off the Wild Coast. This decision overturns a 2024 lower court ruling, effectively h...
Amazon founder Bezos buys into Liverpool for nearly 2 billion euros
Amazon founder Jeff Bezos has acquired a minority stake in the football club Liverpool. A consortium including Bezos has purchased approximately 30 percent of the club's shares.
Making rain clouds? These researchers think you can do it yourself: ‘We can save lives’
Researchers in Friesland are investigating whether they can artificially create clouds to combat drought and support agriculture. If successful, this technology could offer a significant solution to d...
New European packaging rules cause concern for online retailers
New European packaging regulations have raised concerns among small online retailers regarding increased administrative burdens and varying rules across borders. Business owners are particularly worri...
Chinese car brands gain ground in Europe despite domestic slump
Chinese car manufacturers are seeing increased sales in European markets despite a significant downturn in the domestic Chinese automotive industry. This shift highlights a growing presence for Chines...
First drop in purchasing power in five years: will the cabinet intervene?
Dutch households are facing a decline in purchasing power for the first time since 2022. While the cabinet has not yet committed to interventions, the CPB suggests providing targeted support to lower-...
Does the end of Formula 1 in Zandvoort also mean the end of the racing festival?
The organization Zandvoort Beyond has received permission from the local government to develop a plan for an annual festival in Zandvoort following the conclusion of the Formula 1 events. Organizers h...
Tata Steel reprimanded by RCC over green steel claims
The Advertising Code Commission (RCC) has reprimanded Tata Steel regarding advertisements about its sustainability plans. The commission ruled that the company failed to sufficiently substantiate clai...
Mika Godts to join PSG: Ajax reaches broad agreement on 55 million euro transfer fee
Ajax has reached a preliminary agreement with Paris Saint-Germain for the transfer of 21-year-old Belgian player Mika Godts. The deal is expected to result in a transfer fee of approximately 55 millio...
French tax authority discovers systems were hacked after months
The French tax authority was compromised in a cyberattack in late June. The breach went unnoticed for several months until a hacker group claimed responsibility for the incident this week.
Purchasing power takes a hit from rising energy prices, but economy remains on track
Rising energy and fuel prices are negatively impacting the purchasing power of Dutch households, with growth expected to decline by 2027. Despite these financial pressures, the Dutch economy continues...
Blow to wallets: purchasing power barely rises and will even drop next year
Dutch households are facing financial pressure as high inflation, driven by energy and food prices, limits purchasing power. Projections indicate that real income will barely increase this year and is...
Dutch Consumers Association demands end to Groen Adviespunt sales practices
The Dutch Consumers' Association, Consumentenbond, has demanded that Groen Adviespunt immediately end its current sales practices regarding home batteries and sustainability advice. The organization c...
Amsterdam stock market rises further and sets new record
The Amsterdam stock exchange reached a new record high on Friday. Significant gains from data providers RELX and Wolters Kluwer, which rose 3 and 4 percent respectively, contributed to the market's pe...
US imposes up to 100 percent import tariff on foreign drones and parts
The United States has imposed import tariffs of up to 100 percent on foreign drones and drone components. President Donald Trump stated that the move aims to reduce American dependence on foreign supp...
Smokers bring in less excise duty and VAT due to switch to foreign or illegal tobacco products
Dutch smokers are increasingly purchasing tobacco products from abroad or illegal sources due to rising domestic prices. The tobacco industry estimates this shift has resulted in a 3 billion euro shor...
Broken fan blade shattered plane window that sucked man out of Ryanair flight
A broken engine fan blade shattered a window on a Ryanair flight last month, causing a passenger to be partially sucked out of the plane. American investigators and cabin crew have provided details on...
Amsterdam river cruises cannot reach Basel and Budapest due to drought – but can reach Nijmegen, Zaandam and Hoorn
Cinemas and hardware stores are ‘winners’ of the heat, other businesses lose out
A report from ABN Amro indicates that movie theaters and hardware stores are seeing increased business during the current heatwave. Conversely, many other companies are facing negative impacts from th...
Chagai (24) arranged the sale of thousands of eclipse glasses: they flew off the shelves for 15 euros each
Twenty-four-year-old entrepreneur Chagai Elburg successfully sold thousands of eclipse glasses for 15 euros each at his pop-up shop in Haarlem on Wednesday. The high demand resulted in long queues and...
Nearly three-year strike ends as Tesla buys out Swedish strikers
A lengthy strike against Tesla in Sweden, the longest in the country's modern history, has officially concluded. The Swedish metalworkers' union IF Metall reported that the American automaker settled ...
Netherlands scores poorly in Europe for cash acceptance in hospitality sector
The Netherlands has the highest rate of cash refusal in the hospitality sector within the European Union, with only 78 percent of cafes and restaurants accepting cash payments. Cash is also frequently...
US law firm to appeal against Tiësto's multi-million dollar claim
The American law firm Greenberg Traurig is filing an appeal in the Supreme Court against a ruling by the Amsterdam Court of Appeal. The court previously ordered the firm to pay DJ Tiësto 17 million d...
How to spot AI-generated fraudulent webshops: 'Criminals exploit our greed'
Criminals are increasingly using AI to create convincing fraudulent webshops, leading to significant financial losses for consumers. Experts emphasize that these sites are becoming easier to produce a...
Dynamic energy contracts becoming increasingly popular: 1 in 12 pay variable rates
The popularity of dynamic energy contracts is rising in the Netherlands, with over 1.1 million households now opting for plans where prices fluctuate continuously based on market rates. While these co...
Warm and dry summer leads to early grape harvest in Germany
The German Wine Institute reports that the grape harvest in Germany is starting earlier than usual this year due to warm and dry weather conditions. While the heat has accelerated ripening, some regio...
Maersk profits from higher freight rates due to Middle East tensions
Danish shipping company A.P. Møller-Maersk has raised its full-year profit forecast following a strong second quarter. This growth was driven by high demand and increased freight rates resulting from...
Former time trialist and Raleigh seller now wants to save Batavus: Spectacular collection of bike brands
Irish businessman and former cyclist Mel T. Sutcliffe is looking to acquire the bike brands from the bankrupt company Accell. His interest follows a notable career that includes his previous involveme...
Gasoline in Belgium gets more expensive, but still much cheaper than in the Netherlands: here is the difference
The maximum price for Euro95 gasoline in Belgium will increase by 7 cents to 1.936 euros per liter starting this Friday. Despite the price hike, fuel remains significantly cheaper in Belgium compared ...