Friday

29th Mar 2024

Ticker

French luxury goods billionaire now fourth richest man in world

Frenchman Bernard Arnault is Europe's richest man and number four richest in the world, according to Forbes 2018 annual ranking of the world's billionaires. Record results at his luxury goods empire LVMH and a deal to buy Christian Dior helped boost his fortune to €60bn. Czech president Andrej Babis is number 456 on the list, putting his agribusiness firm, Agrofert, into trusts when becoming PM.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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