LONDON (Reuters) -The Bank of England is trying to bring down inflation without causing too much pain to Britain’s economy, Chief Economist Huw Pill said on Friday, a day after the BoE hiked borrowing costs sharply and warned of a long recession. “What we are seeking to do, we’re always seeking to do, is to …
Bank of England trying to curb inflation without too much pain-Pill Read More »
MILAN (Reuters) – Shares in Monte dei Paschi di Siena plunged 14% on Friday, triggering an automatic trading suspension, after the state-owned bank successfully completed a 2.5 billion euro ($2.4 billion) capital raise. Monte dei Paschi said late on Thursday its new share issue had been 96.3% subscribed, with underwriters taking up the remaining 93 …
Shares in Monte dei Paschi plunge 14% after capital raise Read More »
FRANKFURT (Reuters) -The European Union could fall foul of global banking rules designed to stem a repeat of the global financial crisis if proposed changes that would make them looser are passed, the EU’s top banking regulators. EU states and the European Parliament are scrutinising proposals from the European Commission to implement the final leg …
EU could fall foul of global banking rules, regulators warn Read More »
ROME (Reuters) – Italy’s services sector contracted for a second month running in October and at the steepest rate for almost two years as new business plunged amid strong price pressures, a survey showed on Friday. S&P Global’s Purchasing Managers’ Index (PMI) for Italian services fell to 46.4 in October from 48.8 in September, dropping …
Italy’s services sector shrinks in Oct at fastest rate since Jan 2021 -PMI Read More »
LONDON (Reuters) – Britain’s National Grid on Friday launched a scheme to pay homeowners and businesses to curb their electricity use when demand is high to help prevent blackouts over the winter. National Grid last month warned that Britain could face forced power cuts if it is unable to import enough electricity and gas this …
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By Mimosa Spencer PARIS (Reuters) – Shares in Gucci-owner Kering rose in early Friday trading following a report the French luxury goods company is in advanced talks to buy U.S.-based fashion label Tom Ford. Shares were up 2.4% in morning trade, after the Wall Street Journal on Thursday reported the company was the front runner …
Kering shares up on report company seeks to buy Tom Ford Read More »
BERLIN (Reuters) – German industrial orders fell by more than expected in September as foreign demand slumped, putting Europe’s largest economy on course for recession, data showed on Friday. New orders fell by 4.0% on the month on a seasonally and calendar adjusted basis, the Federal Statistics Office said. A Reuters poll of analysts had …
German industrial orders drop in Sept as foreign demand dives Read More »
By Valentina Za MILAN (Reuters) -Investors in Monte dei Paschi di Siena have taken up 96.3% of the Italian lender’s 2.5 billion euro ($2.4 billion) new share issue, leaving less than 100 million euros on the books of the banks that agreed to back the risky sale. Concerns about tapping markets against the backdrop of …
Italy’s Monte dei Paschi says cash call 96.3% covered Read More »
LONDON (Reuters) – Britain is still facing strong domestic drivers of inflation on top of the impact of surging international energy prices and the after-effects of the coronavirus pandemic, Bank of England interest rate-setter Catherine Mann said on Thursday. “There still is a lot of momentum in the underlying drivers, domestic drivers of inflation,” Mann …
Bank of England’s Mann says inflation drivers still strong Read More »
By Davide Barbuscia NEW YORK (Reuters) – Global investors will ramp up allocations to distressed credit hedge funds next year, expecting opportunities to buy companies’ debt on the cheap as tighter monetary policy from the Federal Reserve and other central banks weighs on growth, according to a BNP Paribas survey. Allocations to hedge funds focused …
Distressed credit to lure more hedge fund investors next year -BNP survey Read More »
