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  • Feb 27, 2025

Foreign workers help Spain's economic growth outpace the US and the rest of Europe

Inside a cavernous production plant in Spain, people from 62 nationalities work side by side to keep a food company humming as millions of legs of ham travel on hooks along conveyor belts. Foreign workers have helped to make Spain’s economy the envy of the industrialized world, even as anti-immigration sentiments grow elsewhere in Europe and in the United States. Tapping into foreign labor helped Spain’s economy grow by about 3% last year, smashing the euro zone average of 0.8%, according to the Organization for Economic Cooperation and Development.

  • Feb 27, 2025

Wild Cocoa Markets Push Europe’s Historic Chocolatiers to the Brink

(Bloomberg) -- Paris’s oldest chocolate shop has occupied a street corner in the ninth arrondissement since 1761. Ownership of À la Mère de Famille has changed hands from family to family over the centuries, but it has endured through occupation and revolution thanks to the Parisian appetite for confectionery. Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money

  • Feb 27, 2025

Japan to Crack Down on Booming Market for JGB-Backed Loans

(Bloomberg) -- Japan’s financial regulator plans a sweeping crackdown on $67 billion of high-yield loans backed by government bonds and other assets that have gained popularity among regional banks even after officials warned about their risks.Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC Office Buildings See Resurgence as Inv

  • Feb 27, 2025

Bitcoin set for biggest weekly fall since FTX collapse in 2022

Bitcoin hit its lowest since November and was set for its biggest weekly fall in over two years, swept up in a sell-off in tech stocks at a time when a $1.5 billion hack and doubts about U.S. crypto policy has left industry sentiment fragile. The world's largest cryptocurrency by market value dropped as much as 7% on Friday to $78,273, its lowest since November 10 and on track for a fifth straight day of declines. Bitcoin typically trades loosely in line with assets like tech stocks that rise when investors are optimistic about economic growth.

  • Feb 27, 2025

Stocks slump, dollar towers as Trump tariff threat roils markets

TOKYO (Reuters) -Equities slumped across Asia on Friday and the U.S. dollar hovered near multi-week highs against the currencies of the country's top trading partners as concerns about an escalating global trade war soured market sentiment. Technology shares took an additional hit following a sell-off in AI darling Nvidia and other so-called "Magnificent Seven" Wall Street mega-cap stocks, as investors judged the chipmaker's earnings report harshly a day after it was released. The safe-haven yen and Swiss franc strengthened, with Japan's currency getting an additional boost from lower U.S. Treasury yields.

  • Feb 27, 2025

Oil on track for first monthly drop since November on Trump tariff concerns

Oil prices fell more than 1% on Friday and were headed for their first monthly drop since November, as markets braced for Washington's tariff threats and Iraq's decision to resume oil exports from the Kurdistan region. Uncertainty surrounding OPEC's production resumption plans in April and ongoing talks to end the war in Ukraine also weighed on investor sentiment. The more active May Brent crude futures slipped 81 cents, or 1.1%, to $72.76 a barrel by 1410 GMT.

  • Feb 27, 2025

Dollar draws strength from Trump's tariffs; crypto slumps

Investors unnerved by the prospect of U.S. President Donald Trump's impending tariffs drove a wave of selling on Friday that hit risk-sensitive currencies such as the Australian dollar and sent bitcoin tumbling, thereby boosting the dollar. On Thursday, Trump said his proposed tariffs of 25% on Mexican and Canadian goods would take effect on March 4, along with an extra 10% duty on Chinese imports, defying expectations of those who hoped for a further delay in the levies.

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