By Yadarisa Shabong (Reuters) -Royal Mail could cut up to 10,000 jobs and warned of more layoffs if planned strikes go ahead, as the former British postal monopoly that is locked in a dispute with its largest union on Friday flagged even deeper losses this year, sending its shares as much as 17% lower. The …
Britain’s Royal Mail warns of thousands of job cuts as it slides into red Read More »
WASHINGTON (Reuters) – The sharp negative market reaction to Britain’s plans of tax cuts and large new borrowing is likely to be a stark warning to the emerging new Italian government and other EU countries to keep fiscal policy responsible, senior euro zone officials said. European Union governments are now facing a quandary, torn between …
UK turmoil likely to keep Italian economic policy reasonable -officials Read More »
BERLIN (Reuters) – Sweden has rejected plans to set up a formal joint investigation team with Denmark and Germany to look into the recent ruptures of the Nord Stream 1 and 2 pipelines, a Swedish prosecutor investigating the leaks, said. Mats Ljungqvist, the prosecutor involved in Sweden’s criminal investigation into the Nord Stream leaks in …
Sweden shuns formal joint investigation of Nord Stream leak, citing national security Read More »
By Elizabeth Piper, Kate Holton and Alistair Smout LONDON (Reuters) -British Prime Minister Liz Truss fired her finance minister Kwasi Kwarteng and scrapped parts of their unpopular economic package on Friday in a desperate bid for political survival less than 40 days into her premiership. With financial markets in turmoil, a chastened Truss said she …
UK’s Truss sacrifices finance minister, scraps tax plan in fight to survive Read More »
BERLIN (Reuters) – Austria’s OeNB national bank revised up its inflation forecasts for 2022 through 2024 on Friday, citing higher energy prices and labour costs. For 2022, the bank now sees the consumer price index, harmonised to make it comparable with inflation data from other European Union countries (HICP), at 8.5%. Inflation is expected to …
Austrian national bank revises up 2022 inflation forecast to 8.5% Read More »
BERLIN (Reuters) – Germany’s economy ministry on Friday said that it had taken note of a lawsuit by Russian state energy giant Rosneft against the government for taking control of its German unit but had not yet received any documents related to it. The ministry said the conditions for Germany imposing trusteeship over the company …
German economy ministry acknowledges Rosneft lawsuit against Berlin Read More »
By Yoruk Bahceli and Dhara Ranasinghe LONDON (Reuters) – The European Central Bank is considering entering the maelstrom of volatile world markets to start winding down its massive bond holdings – just as governments scale up spending to respond to an energy crisis likely to induce a recession. The ECB, which bought 5 trillion euros …
Analysis-ECB ‘QT’ may be next challenge for tumultuous markets Read More »
LONDON (Reuters) – Britons are preparing for possible power cuts by stocking-up on portable generators and torches, in addition to winter clothing, thermal underwear and candles. National Grid warned this month that Britain could face three-hour planned power cuts to homes and businesses this winter if it cannot import electricity from Europe and struggles to …
Blackout fears prompt Britons to buy generators and torches Read More »
PARIS (Reuters) – Wage negotiations at EDF will start next week, a representative of France’s FNME trade union told Reuters on Friday. (Reporting by Forrest Crellin; Editing by Jan Harvey)
BRUSSELS (Reuters) – The euro zone posted in August its largest trade deficit since it expanded to 19 countries in 2015, as high energy prices boosted its import bill, official estimates released on Friday showed. The European Union’s statistics office Eurostat said that the euro zone’s balance for trade in goods with the rest of …
Euro zone posts record trade deficit in August amid soaring energy prices Read More »
