Europe

Europe’s beleaguered luxury sector could be set for a turn in fortunes this year, as early indicators point to improved consumer spending amid a pivot from China.

“There are too many banks in Europe for an efficient capital system,” one CEO told CNBC at the World Economic Forum in Davos, Switzerland.

U.S. President Donald Trump on Monday signed an executive order to pull the U.S. out of the world’s biggest coordinated effort to tackle rising temperatures.

The European Union is keen to partner with countries around the world and is “open for business,” European Commission chief Ursula von der Leyen said Tuesday.

“Inflation is much more sticky than we have been saying,” UBS CEO Sergio Ermotti said Tuesday.

Last year marked the second-largest annual increase in billionaire wealth since records started, according to Oxfam.

The disappointing retail data adds to the dim economic picture in the U.K. and to the challenges facing Finance Minister Rachel Reeves.

There are growing questions about how the EU is going to enforce tech regulation, particularly as President-elect Donald Trump returns to the White House.

Greenland, a vast but sparsely populated Arctic island, has been transformed by the climate crisis in recent decades.

British oil major BP on Thursday said it is planning to cut thousands of jobs as part of a major cost-cutting drive.