BERLIN (Reuters) – German Finance Minister Christian Lindner has tasked his officials with preparing a growth package including lowering income and corporation tax, the Frankfurter Allgemeine Zeitung (FAZ) daily reported on Tuesday, citing an internal document. The document sets out what it describes as a “turning point in economic and financial policy” for Europe’s biggest …
German finance minister eyes new growth package -FAZ Read More »
By Bansari Mayur Kamdar and Shreyashi Sanyal (Reuters) -European shares closed a touch higher on Tuesday as China relaxing its COVID-19 curbs more raised hopes of a recovery in the world’s second-largest economy. The pan-European STOXX 600 index gained 0.1%, kicking off a holiday-shortened week in the black. China on Monday said it would drop …
European shares end higher on China recovery optimism Read More »
MILAN (Reuters) – Italian banks have agreed with trade unions to extend until the end of February a nationwide contract for bank employees that was due to expire at the end of the year, ahead of talks on a new contract. The agreement confirms that the Italian Banking Association and unions will act in “a …
Italian banks, unions extend national contract to Feb. 28 Read More »
MADRID (Reuters) -Spain on Tuesday announced 10 billion euros ($10.65 billion) worth of measures to ease the pain of inflation in the third major package this year, bringing total aid to 45 billion euros since early 2022. Spain, like other European countries, has been grappling with a cost-of-living crisis exacerbated by the impact of the …
Spain announces $10.6 billion package to ease inflation pain Read More »
BERLIN (Reuters) – German companies expect only a mild recession next year despite headwinds from the energy crisis, raw material shortages and a tepid global economy, a survey of major associations published by Reuters on Tuesday showed. “The last quarter of 2022 and the start of 2023 are likely to be accompanied by a decline …
German businesses expect only mild recession as disruptions ease Read More »
MILAN (Reuters) – The European Central Bank has set the minimum capital requirements for Banca Monte dei Paschi di Siena (MPS) for next year and also removed a ban on the distribution of dividends, the lender said in a statement on Tuesday. The ECB told Monte dei Paschi it must maintain a Common Equity Tier …
ECB sets capital requirements for Monte dei Paschi for 2023, removes dividend ban Read More »
BUDAPEST (Reuters) – Hungarian drugmaker Richter expects to pay about 28 billion forints ($74.44 million) worth of extra taxes this year, it said on Tuesday, hit by tax hikes on big businesses to plug budget holes. Prime Minister Viktor Orban’s government announced on Friday that a windfall tax imposed on drug producers based on net …
Hungary’s Richter expects to pay $74.44 million in windfall taxes in 2022 Read More »
BERLIN (Reuters) – Nearly three out of five German industry associations are pessimistic about next year and expect their companies to produce less as high energy prices due to the war in Ukraine show no signs of abating, found a survey published Tuesday. Of the 49 associations surveyed by the IW economic institute, 30 said …
Nearly three in five German industry associations foresee gloomy 2023 Read More »
MOSCOW (Reuters) – The Russian rouble weakened on Tuesday, struggling to consolidate a slight recovery from last week’s slide as the market comes to terms with the prospect of lower export revenue in the wake of restrictions on Russian oil. The rouble lost about 8% against the dollar last week and is on course for …
Russian rouble falls to 70 vs dollar as sanctions weigh Read More »
ZURICH (Reuters) -Swiss fintech Leonteq said on Tuesday that it was lowering its profit expectations for 2022 due to reduced client demand in the second half of the year. “Leonteq continued to register reduced client demand on the back of an overall challenging market environment but recorded stable monthly net fee income over the same …
Leonteq lowers profit expectations on reduced demand Read More »
