12 noon BANK OF ENGLAND MONETARY POLICY SUMMARY, DECEMBER 2024 The Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. The MPC adopts a medium-term and forward-looking approach to determine the monetary stance required to achieve the inflation target sustainably. …
By Lev Sergeev, Anastasia Bakhur and Alexander Marrow MOSCOW (Reuters) – Soaring borrowing costs are cooling demand in Russia’s real estate market, with potential buyers scared off by mortgage rates of up to 30%, which is in turn fuelling a rental market boom and driving up prices there as well. The central bank is widely …
Imminent Russian rate hike adds to dismal outlook for house-buyer hopefuls Read More »
WARSAW (Reuters) – Poland still expects 2.8-2.9% economic growth in the fourth quarter, Finance Minister Andrzej Domanski said on Thursday. “This will be a strong quarter for the Polish economy,” Andrzej Domanski told a press conference He said he considered it “absolutely crucial” for there to be more growth engines in the following quarters and …
By Francesco Canepa FRANKFURT (Reuters) – Cash is close to losing its status as the main means of payment in the euro zone, traditionally one of the most resistant corners of the developed world to the rise of electronic payments, European Central Bank data showed on Thursday. An ECB biennial Study on the Payment Attitudes …
Even in the euro zone, king cash is about to lose its throne Read More »
By Maria Martinez BERLIN (Reuters) -Fewer German companies are struggling to fill vacancies due to labour shortages than a year ago, the DIHK Chamber of Commerce and Industry said on Thursday, in what shows a resilient labour market that is starting to feel the impact of economic weakness. Germany, like industrialised countries around the world, …
Labour shortages ease in Germany’s economy, survey shows Read More »
LONDON (Reuters) – Spanish state-held shipbuilder Navantia will acquire the shipyards of Britain’s Harland & Wolff, the Belfast-based company best known for building the Titanic, the British government said on Thursday. The government said in a statement the deal, which is subject to regulatory approval, would secure all four of Harland & Wolff’s shipyards – …
Spain’s Navantia to buy shipyards of Titanic builder Harland & Wolff Read More »
By Balazs Koranyi FRANKFURT (Reuters) – The European Central Bank should keep cutting interest rates by small increments and there is no need to ease policy to a level that starts stimulating economic growth, Cypriot policymaker Christodoulos Patsalides said on Thursday. The ECB has been easing policy for much of this year and the debate …
No need for ECB to start stimulating growth, Patsalides says Read More »
ZURICH (Reuters) -Swiss pharmaceutical group Novartis said on Thursday it was winding up MorphoSys sites in Germany and the United States, affecting 330 jobs. Novartis had acquired MorphoSys at the beginning of the year and said the move was part of an evaluation of its organisational setup and stemmed from its evolving research and development …
Novartis says 330 jobs hit as it closes MorphoSys sites Read More »
By Jessica DiNapoli NEW YORK (Reuters) – Retailers including Target and Walmart are stocking shelves with more toys and gifts such as Barbies that cost less than $10 this holiday season, a strategy aimed at attracting cash-strapped shoppers. For retailers and toymakers, selling a bounty of cheaper gifts aimed at consumers earning $50,000 or less …
Seeing low-income consumers squeezed, retailers target $10 and under gifts Read More »
By Guillermo Martinez and Juan Medina EL CUBILLO DE UCEDA, Spain (Reuters) – European aerospace group Airbus is testing in Spain removable kit that can transform an A400M military transport aircraft into a plane to combat wildfires, as the world faces more virulent fires due to climate change. The tests in El Cubillo de Uceda, …
Airbus tests new kit allowing A400M airlifter to fight fires Read More »
