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(Reuters) – The economy of Belarus is expected to shrink by 4% in 2022 after western nations imposed punitive measures, much less than some had forecast, Interfax cited Prime Minister Roman Golovchenko as saying on Saturday. The European Union, the United States and others have imposed billions of dollars worth of sanctions on the ex-Soviet …

Sanctions to help cut Belarus GDP by 4% in 2022, says PM – Interfax Read More »

BERLIN (Reuters) -Inflation is likely to remain high for another two years as companies pass on higher input costs and in some cases exaggerate them, the head of the council of economists that advises the German government was quoted as saying on Saturday. Russia’s invasion of Ukraine has further stoked already rising costs for food …

German inflation to stay high for two years – adviser Read More »

MADRID (Reuters) – The Spanish government has extended the deadline to sell its 17.3% stake in Caixabank, worth some 5 billion euros ($5.3 billion) at current market prices, by two years to the end of 2025, saying it aimed to get the best price for the holding. “This extension aims to ensure greater efficiency in …

Spanish government extends deadline to sell stake in Caixabank Read More »

FRANKFURT (Reuters) – The European Central Bank must be prepared to take the heat and raise interest rates further, including by more than the market expects, if that is needed to bring down inflation, ECB policymaker Isabel Schnabel said in an interview published on Saturday. The ECB raised rates for a fourth straight time last …

ECB must be ready to take the heat and raise rates more, Schnabel says Read More »

(Reuters) – French jet engine maker Safran SA will pay about $17.2 million as part of a settlement with the U.S. Justice Department over bribes its subsidiaries allegedly paid in China, the Department of Justice (DoJ) said in a statement made public on Friday. The Paris-based aerospace supplier will be required to turn over profits …

France’s Safran to pay $17.2 million to settle China bribery charges in U.S. probe Read More »

ROME (Reuters) -The Italian government on Friday comfortably won a vote of confidence in the Chamber of Deputies, which it called to speed up approval of its expansionary 2023 budget before a year-end deadline. Prime Minister Giorgia Meloni’s first budget drives up next year’s deficit to 4.5% of gross domestic product from 3.4% forecast in …

Italy’s government wins lower house confidence vote on 2023 budget Read More »

By Jack Queen (Reuters) – FTX founder Sam Bankman-Fried clinched a bail deal on Thursday that would see him released on a $250 million bond secured against his parents’ property with restrictions on his movement. Here is an explainer on how his deal stacks up and how bail works: Was Bankman-Fried expected to get bail? …

Explainer-How did Bankman-Fried secure $250 million bail? Read More »

By Francesca Landini MILAN (Reuters) – Enel and a pool of banks signed a 12 billion euro ($12.74 billion) credit facility to fund margin calls linked to the group’s derivative trades, Italy’s biggest utility said. The financing is 70% guaranteed by the Italian export credit agency SACE and has a term of about 18 months, …

Enel signs state-backed credit line worth 12 billion euros Read More »

MILAN (Reuters) -The head of French media group Vivendi said on Friday he was grateful to the Italian government for creating conditions for constructive talks on the future of Italian phone group Telecom Italia (TIM) as a deadline nears. The negotiations aim to find a shared solution that meets government goals and satisfies all stakeholders …

Vivendi CEO pleased with constructive talks on Italy’s TIM Read More »