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PARIS (Reuters) -The European Central Bank should raise interest rates by 50 basis points (bp) on Dec. 15, French central bank chief Francois Villeroy de Galhau said on Sunday, reinforcing expectations for the ECB to slow the pace of monetary tightening. The ECB has raised rates by a record 200 basis points since July, but …

ECB’s Villeroy says in favour of 50 bp rate hike on Dec. 15 Read More »

ROME (Reuters) – Italy’s Prime Minister Giorgia Meloni said on Sunday that she may water down plans to make it easier to settle small payments with cash rather than cards, following talks with the European Commission over the issue. Meloni’s right-wing government has presented a 2023 budget that scraps fines for retailers who refuse cards …

Italy’s Meloni may water down cash payments plan after EU talks Read More »

By Guy Faulconbridge and Olesya Astakhova MOSCOW (Reuters) -Russia, the world’s second largest oil exporter, will not sell oil that is subject to a Western price cap even if it has to cut production, President Vladimir Putin’s point man on energy said. The Group of Seven and Australia on Friday agreed a $60 per barrel …

Russia will not export oil subject to Western cap, says Putin energy point man Read More »

BRUSSELS (Reuters) -The EU will adapt its state aid rules to prevent an exodus of investment triggered by a new U.S. green energy subsidy package, the bloc’s chief executive said on Sunday. “Competition is good … but this competition must respect a level playing field,” European Commission President Ursula von der Leyen said in a …

EU to adapt state aid schemes in response to U.S. subsidy package Read More »

ZURICH (Reuters) – Axpo Holding AG, the Swiss power group that got an emergency 4 billion Swiss franc ($4.27 billion) credit line from the state this year, is looking abroad for growth opportunities, company president Tom Sieber told the NZZ am Sonntag newspaper. “We must continue to grow strongly — especially abroad,” Sieber said in …

Swiss utility Axpo looking abroad for growth opportunities, NZZ am Sonntag reports Read More »

CHISINAU (Reuters) – Moldova’s natural gas company Moldovagaz will start buying gas from domestic supplier Energocom while continuing to buy it from Russia’s Gazprom, the head of Moldovagaz said late on Saturday. Gas supplies are an ongoing source of tension between Russia and Moldova, which lies between southern Ukraine and Romania. “Starting tomorrow, Moldovagaz will …

Moldovagaz to buy gas from Energocom as well as from Gazprom Read More »

(Reuters) – The European Union should file a complaint with the World Trade Organization (WTO) in the next few months regarding the United States’ green energy subsidy package, the head of the European Parliament’s trade committee was reported as saying on Sunday. The U.S. and the EU have so far sought to be conciliatory about …

Lawmaker says EU should complain to WTO over U.S. Inflation Reduction Act Read More »

Chisinau (Reuters) -Moldovan Deputy Prime Minister Andrei Spinu announced an energy deal on Saturday he said would reduce the risk of large-scale electricity outages in the former Soviet republic. Spinu said state utilities firm Energocom would purchase enough electricity from the country’s largest power station to cover all of Moldova’s needs for December when combined …

Moldova Deputy PM announces deal to reduce risk of massive power outages Read More »

LONDON (Reuters) -Bank of England rate-setter Swati Dhingra said in an interview published on Saturday that higher interest rates could lead to a deeper and longer recession, adding there were few signs that demands for higher wages risked a wage-price spiral. While most of her colleagues backed a 75 basis-point hike to 3% last month, …

BoE’s Dhingra warns of deeper and longer recession with higher rates Read More »