FRANKFURT (Reuters) – Euro zone inflation zoomed past forecasts to hit a fresh record high this month, reinforcing expectations for another jumbo interest rate hike from the European Central Bank in October. Price growth in the 19 countries sharing the euro accelerated to 10.0% in September from 9.1% a month earlier, data from Eurostat showed …
Euro zone inflation hits record high 10%, raising pressure on ECB Read More »
By Huw Jones LONDON (Reuters) – Banks in the European Union will collectively need a further 1.2 billion euros ($1.18 billion) to meet a set of global capital rules in full by 2028, the bloc’s banking watchdog said. In the latest sign of how well capitalised lenders in the bloc have become in broad terms, …
EU watchdog says banks need $1.2 billion to meet capital rules in full Read More »
PARIS (Reuters) – Strikes have disrupted TotalEnergies’ oil products refining and delivery for a fourth day with at least four of its French plants hit by continuing industrial action by workers, a CGT trade union representative said. Deliveries at the 240,000 barrel per day (bpd) Gonfreville refinery in Normandy have stopped and it is in …
Four French refineries disrupted by fourth day of strikes Read More »
BRUSSELS (Reuters) – Euro zone unemployment was unchanged at a record low of 6.6% of the workforce in August, the European Union’s statistics office Eurostat said on Friday, matching expectations of economists polled by Reuters. Eurostat said that in absolute terms, the number of people without jobs in the 19 countries sharing the euro fell …
Euro zone unemployment unchanged at record low of 6.6% Read More »
WARSAW (Reuters) -Poland’s Bank Guarantee Fund has started its compulsory restructuring of Getin Noble Bank, a private lender that faced collapse, the fund said on Friday. The move will protect client deposits totalling 39.5 billion zloty ($7.98 billion) and safeguard the stability of the financial system, the fund’s statement said. The process, effectively a state-managed …
Poland starts compulsory restructuring of Getin Noble Bank Read More »
LONDON (Reuters) – British lenders approved many more mortgages than expected in August, Bank of England data showed on Friday. Mortgage approvals rose to 74,340 last month, up from 63,740 in July and the highest reading since January. A Reuters poll of economists had pointed to around 62,000 approvals. (Reporting by Andy Bruce; Editing by …
UK mortgage approvals jump unexpectedly in August: BoE data Read More »
OSLO (Reuters) – Norwegian national power grid operator Statnett said on Friday the country should refrain from introducing restrictions on electricity exports, which the government has said it may do this winter to prevent blackouts. “We do not recommend the introduction of export restrictions,” Statnett Chief Executive Hilde Tonne said while presenting other measures to …
Norway should not restrict power exports in winter, grid operator says Read More »
By Dhruv Munjal (Reuters) – Hummel’s decision to tone down the details of Denmark’s World Cup kit in protest against Qatar’s human rights record was driven by the company’s desire to be seen as a purpose-driven brand, industry experts told Reuters on Thursday. The Danish sportswear company released a red monochrome kit on Wednesday that …
Soccer-Hummel stance on Qatar human rights is strategic decision, say industry experts Read More »
LONDON (Reuters) -British Prime Minister Liz Truss and finance minister Kwasi Kwarteng will meet the head of the country’s independent fiscal watchdog on Friday, after days of financial market chaos triggered by the government’s planned tax cuts. Truss and Kwarteng will meet Richard Hughes, chair of the Office for Budget Responsibility (OBR), to discuss the …
UK’s Truss and Kwarteng to meet budget forecasters on Friday Read More »
(Reuters) – Britain’s Financial Conduct Authority (FCA) has contacted lenders in the United Kingdom following the withdrawal of more than 1,600 mortgage products by most high-street lenders, the Financial Times reported on Thursday. In the aftermath of finance minister Kwasi Kwarteng’s fiscal plan that sent British financial markets into turmoil, the FCA was asking banks …
UK watchdog contacts banks following huge withdrawal of mortgage deals -FT Read More »
