BUDAPEST (Reuters) – Hungary will decide in coming days on whether to proceed with a technical change in the calculation of loan repayment rates, intended to cut the cost of borrowing and boost the economy but which drew criticism from the Bank of Hungary. In an interview published on Sunday, Finance Minister Mihaly Varga told …
Hungary minister expects decision next week about new reference rate Read More »
Berlin (Reuters) – German Chancellor Olaf Scholz called on Sunday for the European Union to complete its creation of a banking and capital markets union so the bloc can compete with the U.S. and China for new technologies. Scholz told a conference in Berlin for European delegates of his Social Democrats (SPD) party that this …
Germany’s Scholz calls for completion of EU capital markets union Read More »
GENEVA (Reuters) – Wealth manager Julius Baer is set to announce a writeoff related to its exposure to property group Signa that may be around 400 million Swiss francs ($463 million), Swiss newspaper SonntagsZeitung said on Sunday. Fears over the bank’s ties to property and retail group Signa, whose holding company filed for insolvency in …
Julius Baer set to announce writeoff linked to Signa exposure – SonntagsZeitung Read More »
AMSTERDAM (Reuters) – The European Central Bank (ECB) will need to see proof of slowing wage growth in the euro zone before interest rates can be lowered, ECB governing council member Klaas Knot said on Sunday. “We now have a credible prospect that inflation will return to 2% in 2025. The only piece that’s missing …
Slower wage growth needed for euro zone rate cuts, ECB’s Knot says Read More »
PARIS (Reuters) -French farmers maintained nationwide protests on Saturday and kept their threat of roadblocks around Paris, arguing government measures to quell the demonstrations did not go far enough to meet their demands for better pay and living conditions. On Friday, Prime Minister Gabriel Attal’s government dropped plans to gradually reduce state subsidies on agricultural …
French farmers keep Paris roadblock threat as protests endure Read More »
(Reuters) -Swiss building materials giant Holcim is nearing a deal to separate its North America business that could be worth more than $30 billion, the Wall Street Journal reported on Saturday. The deal could be announced this coming week, assuming the plans don’t fall apart at the last minute, the report said, citing people familiar …
Switzerland’s Holcim plans separation of US business – WSJ Read More »
By Thomas Escritt BERLIN (Reuters) – Promising to rescue Germany from the far right, a new leftist party offered up a populist recipe of high pensions, low defence spending and an end to expensive climate policies in its first outing ahead of regional and European elections this year. The Sahra Wagenknecht Alliance (BSW), named after …
More pensions, fewer weapons: New party pitches to save Germany from AfD Read More »
By Sheila Dang (Reuters) – Social media company X is in the process of hiring 100 content moderators for a new office in Austin, Texas that will focus on fighting child abuse content, a goal it hopes to complete by the end of the year, an X executive said on Saturday. The Elon Musk-owned company …
Musk’s X aims to hire 100 content moderators in Austin by end of year Read More »
(Reuters) -The chairman of the UK Post Office will step down, the government said on Saturday, amid growing frustration over the state-owned company’s governance as it reels from a scandal which led to the wrongful conviction of hundreds of sub-postmasters. British business minister Kemi Badenoch and Post Office Chair, Henry Staunton, “agreed to part ways …
UK Post office chairman to depart in fallout from Horizon IT scandal Read More »
BERLIN (Reuters) -Germany’s GDL train drivers’ union will call off its industrial action earlier than planned as negotiations with rail operator Deutsche Bahn resume, both sides informed on Saturday. The strike, the fourth and longest round of industrial action in a months-long dispute over pay and working hours, began at 2 am (0100 GMT) on …
German train drivers to end strike early as negotiations resume Read More »
