ECB’s Nagel Says Upside Inflation Risks Still ‘Pretty Present’
(Bloomberg) — The European Central Bank can’t declare that its fight against inflation is over just yet, according to Governing Council member Joachim Nagel.
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Iceland’s Finance Minister Swaps Position With Foreign Minister
Iceland’s finance minister, who resigned this week on conflict-of-interest grounds, will swap positions with the nation’s foreign minister, the government announced on Saturday.
Europe’s Consumer Will Save the Economy, ECB’s Scicluna Says
The euro zone’s buoyant consumers will save the economy from a hard landing, according to European Central Bank Governing Council member Edward Scicluna.
Zambia Agrees Deal With Official Creditors on Debt Restructuring
Zambia agreed a memorandum of understanding to restructure its loans with official creditors, co-led by China and France, finalizing a $6.3 billion deal reached almost four months ago.
New Zealand Opposition Wins Election as Labour Ousted From Power
New Zealand opposition leader Christopher Luxon said he will form a new government of the center-right after defeating Prime Minister Chris Hipkins’ Labour Party in Saturday’s election.
The Trading Tycoon Steering Russia’s Global Oil Business
Igor Sechin, the boss of Russia’s state oil company and longtime associate of Vladimir Putin, celebrated New Year’s Eve on a yacht anchored off Palm Jumeirah, the man-made Dubai island dotted with oligarch-friendly beachfront villas.
Musk Says Advertising Revenue on X ‘Drops Massively’ During War
Elon Musk said advertising revenue on X, the site formerly known as Twitter, “drops massively during war,” according to a post in response to an user’s tweet about her payouts going down.
Americans Might Leave Gaza on Saturday, Says US Official
American citizens in the Gaza Strip may be allowed to leave on Saturday, according to a US official with knowledge of the situation.
Unflinching ECB Will Stick With High-Rate Plateau, Kazimir Says
The European Central Bank may not even consider lowering interest rates for at least a year in order to vanquish inflation, according to Governing Council member Peter Kazimir.
Charting the Global Economy: Broader Mideast War Risks Recession
The conflict between Israel and Hamas risks embroiling other Middle East nations and has the potential of fueling another bout of inflationary pressures and even tipping the global economy into a recession.
