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BERLIN (Reuters) – Chancellor Olaf Scholz announced several measures to prop up Germany’s ailing steel sector on Monday after he met with industry representatives to discuss high energy prices, cheap Asian competition and an economic downturn. In a statement issued by his spokesperson, Scholz said he would initiate the extension of state aid allowing employers …

Germany’s Scholz announces measures to prop up ailing steel industry Read More »

BRUSSELS (Reuters) – Ukraine will soon get another 4.2 billion euros ($4.4 billion) in funds after the European Union’s member states approved the planned payment of the money, said the EU Council on Monday. The money, which forms part of the EU’s Ukraine facility, will help Ukraine’s economy, as the country continues to fight against …

EU countries approve new 4.2 billion euros payment for Ukraine Read More »

MILAN (Reuters) – Former Campari’s Chief Executive Matteo Fantacchiotti, who left the helm of the Italian spirits group in September, has joined Cygnet Gin as a partner and chairman, the recently launched gin brand said on Monday. The company, maker of Cygnet 22 gin whose bottles are priced at around £50 each, was founded in …

Former Campari CEO joins Cygnet Gin as partner and chairman Read More »

By Greta Rosen Fondahn LONDON (Reuters) – Sterling rose against the dollar and euro on Monday, as investors were on edge ahead of U.S. inflation data and the European Central Bank’s meeting later in the week. The pound was last up 0.29% against the dollar to $1.2777, after easing 0.15% on Friday. Sterling has taken …

Sterling kicks off week on the rise against dollar, euro Read More »

KYIV (Reuters) – Ukraine has increased its steel production so far in 2024 by 23.1% to 7 million metric tons, data from the country’s steel producers union showed on Monday, but the possible loss of a key coking coal mine makes the outlook uncertain. Steel production has suffered since Russia’s invasion of Ukraine on Feb. …

Ukraine steel output jumps, but possible coking coal loss clouds outlook Read More »

(Reuters) – Major brokerages including Goldman Sachs, Morgan Stanley and Barclays expect the European Central bank to cut interest rates by 25 basis points at its Dec. 12 meeting, rather than a larger 50-bp move, as inflation gradually heads down. Forecasters at financial institutions also see further rate cuts in 2025. Some predict substantial cuts, …

Factbox-Major brokerages expect a quarter-point cut for ECB’s Dec meeting Read More »

FRANKFURT (Reuters) – Investor morale in the euro zone fell in December to its lowest in more than a year, a survey showed on Monday, with Germany remaining a drag on the bloc as snap elections in February have failed to inspire confidence. The Sentix index for the euro zone fell to -17.5 in December …

Euro zone investor morale falls in December to lowest in more than a year Read More »