By Balazs Koranyi FRANKFURT (Reuters) – European families are sitting on an ever-growing pile of savings, confounding hopes that consumer largesse can boost the region’s economy as it falls yet further behind that of the United States. This rise in savings when consumers are enjoying the best income growth in years goes against textbook wisdom …
Analysis-Europe’s growth rebound hinges on savings puzzle Read More »
PARIS (Reuters) – Euro zone inflation will durably reach the European Central Ban’s 2% target in the course of 2025, ECB President Christine Lagarde told a French newspaper, largely repeating her recent message. “Maybe we could have started to intervene a few months earlier. But we raised rates at an unprecedented rate, and we managed …
ECB’s Lagarde: inflation should stabilise at 2% target in 2025 Read More »
A look at the day ahead in European and global markets from Kevin Buckland Mega-tech earnings remain in the spotlight on Thursday, particularly after the Bank of Japan’s as-expected decision to hold policy steady failed to give the market any new trading cues. Apple and Amazon, two of the so-called “Magnificent 7”, will report results …
By Katie Paul, Akash Sriram (Reuters) -Facebook owner Meta Platforms on Wednesday warned of “significant acceleration” in artificial intelligence-related infrastructure expenses next year, while beating analysts’ estimates for third-quarter revenue and profit. The results sent mixed signals to investors about whether digital ad sales from Meta’s core social media business would continue to cover the …
Meta projects sharp acceleration in AI costs after results beat Wall Street targets Read More »
(Reuters) – Goldman Sachs said on Thursday it now expects the Bank of England (BoE) to maintain interest rates in December, revising its previous forecast of a 25-basis-point cut after what the brokerage termed a “more expansionary” UK budget. “Prospects for stronger 2025 growth are likely to reduce the urgency for sequential cuts in the …
Goldman Sachs revises forecast, expects BoE to stand pat in December Read More »
BERLIN (Reuters) – The chairman of German auto parts supplier Robert Bosch warned on Thursday of declining revenue in the coming year, and said he cannot rule out further job cuts in Germany in addition to the 7,000 it has already announced. The announcement, made in an interview with chairman Stefan Hartung published by Der …
Bosch cuts revenue forecast for coming year, layoffs not ruled out Read More »
SHANGHAI (Reuters) -China has told its automakers to halt big investment in European countries that support extra tariffs on Chinese-built electric vehicles, two people briefed about the matter said, a move likely to further divide Europe. The new European Union tariffs of up to 45.3% came into effect on Wednesday after a year-long investigation that …
By David Milliken, Sachin Ravikumar and Andy Bruce LONDON (Reuters) – Britain’s new finance minister Rachel Reeves announced the biggest tax increases in three decades in her first budget on Wednesday, saying she had to repair the country’s broken public services with heavy spending. Businesses and the wealthy faced the brunt of the tax hikes …
UK’s Reeves raises taxes by most since 1993 in first Labour budget Read More »
By Richa Naidu and Jessica DiNapoli AMSTERDAM/NEW YORK (Reuters) – PepsiCo, which is overhauling some of its top brands like Lay’s potato chips as shoppers look for cheaper options, is increasingly sharing data with major retailers and in return getting coveted information on shoppers’ purchases, a PepsiCo executive said in an interview this week. PepsiCo’s …
PepsiCo, retailers share purchase data to improve sales forecasting, exec says Read More »
By Echha Jain (Reuters) -Australia’s Mineral Resources (MinRes) said on Thursday it will sell the entirety of two exploration permits in Perth basin and form joint ventures with Hancock over remaining onshore exploration lands around the area for up to A$1.13 billion ($743.09 million). Shares of the diversified miner gained as much 16.4% to A$41.98 …
Australia’s MinRes strikes $743 million deal with Hancock for gas exploration permits Read More »
