Browsing: Business

Economic Growth in Canada Accelerates to 0.3% in May, Driven by Sectoral Gains

Official data on the national economy released on Friday confirms that the Canadian economy expanded by 0.3 per cent in May, marking a continuation of the broader economic recovery into a second consecutive month and exceeding earlier government predictions. As per monthly Gross Domestic Product figures published by Statistics Canada, real output increased in 13 of 20 key industrial sectors, supported by widespread growth in goods-producing industries and sustained demand in services. This actual monthly increase surpassed the preliminary flash estimate of 0.1 per cent growth from the national statistical agency, providing upward momentum for the country’s economic output after April’s revised growth of 0.6 per cent.

Bitcoin Drops to $62,957 Amid Broader Market Decline and Rising Liquidations

A wave of risk aversion swept through global financial markets, driving digital assets lower as Bitcoin breached the $63,000 mark. Data from cryptocurrency exchange Binance indicates that the leading token by market capitalization fell 3.02% over 24 hours to reach $62,957.83. This latest drop extends a multi-session sell-off fueled by volatility in tech equities, macroeconomic headwinds, and recalibrated monetary policy expectations. Furthermore, Bloomberg market data reveals that tightening spot trading volumes coincided with a rapid acceleration in long liquidations across derivative trading venues.

UK Allocates £8.4 Billion for Construction of New Dreadnought Nuclear Submarines

London, England / EuroWire / – On Wednesday, the UK government announced an investment of £8.4 billion ($11.2 billion) aimed at advancing its Dreadnought-class nuclear submarine project, ensuring sustained long-term nuclear deterrence at sea. An official release from the Prime Minister’s Office confirmed that this funding will expedite the development of four next-generation submarines while maintaining thousands of skilled jobs and apprenticeship positions over the next decade. This strategic purchase reflects a significant capital commitment to uphold continuous maritime defense through the mid-21st century.

Belgium’s July Consumer Price Index Surpasses Expectations Amid Unexpected Rise in Inflation

In Belgium, consumer price increases accelerated unexpectedly during July, reversing a recent trend of moderation and exerting additional financial strain on households and businesses alike. Data published Thursday by the national statistical body Statbel reveal that Belgium’s yearly inflation rate rose to 3.56 percent in July from 3.40 percent in June, surpassing forecasted figures. This notable uptick outperformed the 3.37 percent projection from the Federal Planning Bureau, driven by ongoing price increases in utilities, leisure, and transportation sectors. The consumer price index for the month increased by 0.63 percent, reaching 103.60 points compared to 102.95 points in June.

Starbucks Boosts Full-Year Outlook Amid Robust Q3 Earnings Driven by Operational Enhancements

On Wednesday, the global retail chain Starbucks Corporation announced its fiscal third-quarter 2026 financial results, surpassing Wall Street consensus estimates across key profit and sales metrics. Market disclosures confirmed that Starbucks stock surged as its strategic efforts to reclaim third place in the market started to pay off, leading to an improved outlook for 2026 and boosting share prices by over five percent in after-hours trading on the Nasdaq exchange. The Seattle-based specialty coffee giant reported consolidated net revenues of $9.3 billion for the 13-week period ending June 28, 2026, bolstered by an 8.1 percent rise in North American store sales and ongoing margin improvements across core operational segments.

UAE and Slovakia Forge New Path in Green Tech Collaboration During High-Level Talks

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan shaking hands with Slovak Prime Minister Robert. (Credit – WAM)At the high-level meeting in Slovakia’s capital, both leaders reiterated their shared commitment to strengthening bilateral relations and fostering enduring economic and development partnerships. The talks centered on harnessing emerging opportunities across various industries, digital innovation, and sustainable infrastructure to open new avenues for trade and investment. The discussions underscored the strategic alignment between the United Arab Emirates and the Slovak Republic in promoting economic diversification, technology exchange, and knowledge-sharing initiatives that support sustainable growth for both nations.

EU Digital Workforce Shortfall Predicted as ICT Education Systems Lag Behind Targets

According to a recent study released by the EU agency Eurofound, the European Union is on track to miss its Digital Decade goal of employing 20 million information and communications technology specialists by 2030. Official reports from Emirates News Agency confirm that despite ongoing recruitment efforts, the EU is projected to fall short of the 2030 ICT workforce target by 5 million workers. The Eurofound report, titled IT Sector in Focus: Evolution of the EU Digital Workforce, revealed that in most member states, primary and vocational education frameworks are unable to meet the rising demand for advanced digital skills from enterprises. This gap is increasingly filled through the migration of skilled labor from outside the EU, as companies face critical staffing shortages.