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FRANKFURT (Reuters) -Euro zone consumers in May cut their inflation expectations again for the following 12 months, although they still saw prices growing faster than the European Central Bank (ECB) would like for years to come, a new ECB poll showed on Wednesday. The ECB’s monthly Consumer Expectations Survey, which also showed modest expectations for …

Euro zone consumers see lower inflation ahead – ECB poll Read More »

BRUSSELS (Reuters) – Euro zone producer prices fell for a fifth consecutive month in May, data showed on Wednesday, and were lower than a year earlier for the first time since the end of 2020. The European Union’s statistics office Eurostat said prices at factory gates in the 20 countries sharing the euro fell 1.9% …

Euro zone producer prices drop for 5th month, below year ago level Read More »

COPENHAGEN (Reuters) – A second Briton charged with defrauding Danish tax authorities in a sham trading scheme to make double tax reclaims was extradited from Britain to Denmark on Tuesday, Danish police said. The charges against hedge fund trader Anthony Mark Patterson, 52, are related to the so-called “cum-ex” trading schemes in which the Danish …

Second Briton charged in Danish tax fraud case extradited to Denmark Read More »

(Reuters) -Britain’s new car sales jumped 25.8% year-on-year in June thanks to solid demand for electric vehicles (EV) from businesses and fleet buyers, an industry body said on Wednesday. The Society of Motor Manufacturers and Traders (SMMT) said new car sales rose to 177,266 units last month, the 11th consecutive month of growth, though volumes …

EVs drive Britain’s June car sales; industry body seeks VAT cut on public charging Read More »

By Joice Alves LONDON (Reuters) – Sterling edged lower on Wednesday as traders considered whether the British currency will be hurt by several expected interest rate increases by the Bank of England (BoE) that could put more strain on the economy. The pound edged 0.02% lower against the dollar at $1.2713 by 0840 GMT, 1.2% …

Sterling edges lower as traders question BoE rate policies Read More »

By David Milliken LONDON (Reuters) – Growth in Britain’s private sector slowed sharply last month, despite businesses facing lower inflation, as higher Bank of England interest rates weighed on demand, a survey showed on Wednesday. The S&P Global/CIPS services Purchasing Managers’ Index (PMI) for Britain dropped to 53.7 in June from May’s 55.2, in line …

UK business momentum slows in June despite falling inflation -PMI Read More »

PARIS (Reuters) – Food inflation in France has started to ease this month and the trend should accelerate in the coming weeks, Finance Minister Bruno Le Maire said on Wednesday. Le Maire told BFM television that there were still four or five major players in the food industry which have not complied with a government …

France’s Le Maire: Food inflation has started easing in July Read More »

By Nick Carey LONDON (Reuters) -A lack of data on electric vehicle (EV) batteries continues to challenge insurers who are forced to scrap EVs after mild accidents, potentially undermining EV adoption, Thatcham Research said on Wednesday. The British automotive risk intelligence company cited a “concerning lack of affordable or available repair solutions and post-accident diagnostics” …

EV batteries remain major challenge for insurers – UK’s Thatcham Read More »

(Reuters) – The Bank of England is looking at plans to force more international banks to set up subsidiaries in the UK, The Financial Times reported on Tuesday. (Reporting by Chandni Shah in Bengaluru; Editing by Josie Kao)