Economy

The European Parliament prepares to vote on the EU’s toughest steel trade defence in eight years: a 50% out-of-quota duty, a 47% cut in tariff-free import volumes and a Melt and Pour traceability requirement, set to enter force on 1 July 2026.

Industrial production in the euro area rose 0.2% in March and 0.8% in the EU compared with February, according to Eurostat data published on 13 May. The annual comparison remains firmly negative, with output down 2.1% in the euro area and 1.0% in the EU, reflecting the cumulative impact of the Iran energy shock on European manufacturing.

Burberry published its full-year FY26 results on Thursday 14 May 2026. Consensus expected revenue of around £2.43 billion (down 1% YoY), operating profit £96m and EPS 20.14p. Investors scrutinise progress under Joshua Schulman’s ‘Burberry Forward’ turnaround, which has involved up to 1,700 job cuts.

MEPs prepare measures to counter global steel overcapacity flooding European markets, as the bloc’s manufacturers warn of plant closures and structural damage to industry.

Swiss pharmaceutical giant Roche has secured European regulatory approval for the first blood-based Alzheimer’s diagnostic test, signalling a shift in early dementia detection.

Preliminary data shows the eurozone economy expanded by just 0.1% in the first quarter of 2026 as Middle East energy shock hampers consumption and investment.

Headline inflation in the eurozone reached 3.0% in April as Middle East energy shock filters through to prices, complicating the ECB’s path forward.

The European Central Bank kept its three key interest rates unchanged at its May meeting, with headline inflation in the euro area now within touching distance of the 2 percent objective.