FRANKFURT (Reuters) – Inflation in Germany, the euro zone’s biggest economy, is likely to be higher than earlier thought while economic growth will be weaker with a recession next year now certain, the Bundesbank said on Friday in a biannual update of its economic forecasts. The new forecasts mirror similar revisions on Thursday by the …
Bundesbank sees recession, higher inflation in Germany Read More »
By Sudip Kar-Gupta PARIS (Reuters) – French business activity contracted at a faster rate in December than the previous month, a survey showed on Friday, adding to signs of a recession ahead for the euro zone’s second-biggest economy as inflation hits businesses. S&P Global’s flash December purchasing managers index (PMI) for France’s services sector came …
French economic contraction worsened in December – flash PMI Read More »
PARIS (Reuters) – European Central Bank (ECB) member and Bank of France head Francois Villeroy de Galhau said on Friday the fight against inflation wasn’t over, adding it should peak during the first half of 2023 before easing. “We finished the first half (of the match), but the match is not over,” Villeroy told BFM …
ECB’s Villeroy: Match against inflation is not over Read More »
PARIS (Reuters) -France has struck a contract for the next-stage development of the FCAS European fighter jet programme with the companies Dassault Aviation, Airbus, Indra and Eumet, the French Armed Forces Ministry said on Thursday. The Future Combat Air System (FCAS), first announced in 2017 by French President Emmanuel Macron and then German Chancellor Angela …
France agrees FCAS jet contract with Dassault Aviation, Airbus, Indra and Eumet Read More »
(Reuters) – British Airways has signed an agreement with the trustee of its New Airways Pension Scheme (NAPS) on the scheme’s triennial valuation, the airline’s owner IAG said on Thursday. The valuation, based on the scheme’s funding position as of March 31, 2021, shows an agreed technical provisions deficit of 1.65 billion pounds ($2.01 billion), …
British Airways signs agreement under New Airways Pension Scheme Read More »
By Supantha Mukherjee, Niklas Pollard and Martin Coulter LONDON/STOCKHOLM (Reuters) – Swedish telecom equipment maker Ericsson said on Thursday it would reach the lower end of its long-term target of a profit (EBITA) margin of 15-18% by 2024 as several of its more profitable markets show signs of slowing down. The company, one of the …
Ericsson sees margin at lower end of target, pushes for cost cuts Read More »
LONDON (Reuters) – Societe Generale hiked on Thursday its forecast for how high euro zone interest rates will go to 3.75% from 3% previously, after the European Central Bank vowed to keep raising them at a meeting earlier. “The ECB today was commendably clear: there is no pivot even if the pace of rate hikes …
Soc Gen ramps up ECB ‘terminal’ rate forecast to 3.75% from 3% Read More »
FRANKFURT (Reuters) – European Central Bank President Christine Lagarde offered fellow policymakers back-to-back interest rate hikes worth 50 basis points each to secure a majority for Thursday’s policy decision, four sources told Reuters. The ECB eased the pace of its interest rate hikes on Thursday but stressed significant tightening remained ahead and laid out plans …
ECB’s Lagarde offers back-to-back rate hikes to woo dissenters Read More »
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) – The European Central Bank eased the pace of its interest rate hikes on Thursday but stressed significant tightening remained ahead and laid out plans to drain cash from the financial system as part of a dogged fight against runaway inflation. After being wrong-footed by sudden price …
ECB slows rate hikes but pledges more to keep up inflation fight Read More »
(Reuters) -Britain’s Unite labour union said on Thursday that ground handlers at Heathrow airport employed by Menzies would suspend a planned strike, which was due to start on Friday, after the company made an improved pay offer. Unite, which did not disclose the latest revised pay offer, said it would now ballot its members on …
Heathrow ground handlers suspend strike after improved pay deal -Unite Read More »
