By Philip Blenkinsop BRUSSELS (Reuters) – U.S. President Donald Trump says value-added taxes carry a lot of blame for America’s near trillion dollar trade deficit with the rest of the world. The 170-plus countries who charge VAT – including top U.S. trade partners in Europe – insist they have no impact. So who to believe? …
Analysis-Why Trump has thrown VAT into the trade stand-off Read More »
BRUSSELS (Reuters) -EU competition regulators on Friday approved Belgium’s plan to grant state aid to French energy company Engie’s Belgian business to extend the lifespan of two nuclear reactors, closing an in-depth investigation opened last July. Belgium and Engie had clinched a deal in December 2023 to extend the life of the two nuclear reactors …
EU approves state aid to extend life of Engie’s Belgian nuclear reactors Read More »
ZURICH (Reuters) – U.S. tariffs flagged by President Donald Trump could have knock on effects like higher labour costs, leading to price rises to compensate, the head of Swiss construction chemicals company Sika said on Friday. “From the tariffs there could be some secondary effects, everyone expects there will be some inflation which will affect …
Swiss chemicals maker Sika says US tariffs could lead to higher labour costs Read More »
By William Schomberg LONDON (Reuters) – British retail sales rose in January for the first time since August and by much more than expected, according to official data that suggested consumers were happy to spend despite a weak outlook for the economy. The 1.7% month-on-month gain in sales volumes was bigger than all estimates forecast …
UK consumers defy weak outlook to ramp up their spending Read More »
By David Milliken LONDON (Reuters) – British finance minister Rachel Reeves received more bad news on the public finances on Friday after January tax receipts came in lower than expected, barely a month before she gives an update on whether she is on course to meet her borrowing targets. The public finances typically show a …
UK’s Reeves faces budget pressure after January tax shortfall Read More »
By Amanda Cooper LONDON (Reuters) – The pound traded around two month-highs on Friday after data showed UK consumer spending picked up much more sharply than expected in January, while a separate survey of business activity showed British companies are rapidly cutting staff. Finance minister Rachel Reeves, as part of her budget in late October, …
Sterling stalls at two-month highs after PMI, retail sales Read More »
(Reuters) – Global equity funds continued to see robust inflows, with the majority directed to European equity funds, which hit record highs fueled by hopes for peace in Ukraine and a surge in the defense sector due to anticipated increases in military spending. Also, a U.S. inflation report suggesting that the Federal Reserve’s preferred measure …
Global equity fund inflows rise on European stock rally, cooling US inflation Read More »
By Pavel Polityuk KYIV (Reuters) – Ukraine plans to import up to 800 million cubic metres (mcm) of gas from Europe in February and March to compensate for a sometimes 40% drop in production after Russian missile strikes on the sector, a senior industry source told Reuters on Friday. Russia has focused many past missile …
Ukraine plans to import 800 mcm of gas until April after Russian strikes Read More »
By Virginia Furness LONDON (Reuters) – Standard Chartered on Friday pledged to cut the emissions linked to the bonds it sells for oil and gas companies and will press ahead with its net-zero strategy, in contrast with other lenders who are reassessing their climate plans. The London-listed bank plans to reduce by 26.9% the polluting …
StanChart pledges to cut emissions linked to oil and gas bonds Read More »
By Jonathan Cable LONDON (Reuters) – Euro zone business activity saw very tepid growth in February as demand fell at a faster pace and an expansion in services barely offset a long-running decline in manufacturing, a survey showed. HCOB’s preliminary composite euro zone Purchasing Managers’ Index, compiled by S&P Global, held steady at January’s 50.2 …
Euro zone business activity stuck in a rut, PMI shows Read More »
