FRANKFURT/HELSINKI (Reuters) -The European Central Bank may need to raise interest rates by another 75 basis points at its October meeting and move again in December to a level that no longer stimulates the economy, policymakers said on Wednesday. The ECB lifted interest rates by a combined 125 basis points at its past two meetings, …
ECB policymakers put 75 bps hike on table for October Read More »
By Huw Jones LONDON (Reuters) -Using blockchain technology which underpins cryptoassets to offer instantaneous trading and settlement across all financial markets is not desirable given the challenges it would pose, Bank of England Deputy Governor Jon Cunliffe said on Wednesday. Cunliffe said there was a need to ensure that new approaches to trading and settlement …
Bank of England says blockchain roll-out across all markets too challenging Read More »
LONDON (Reuters) – A source at Britain’s finance ministry dismissed a Sky News report that finance minister Kwasi Kwarteng would ask financiers not to bet against the pound during a meeting with bankers on Wednesday. The Treasury did not immediately have an on-the-record comment on the report. (Reporting by William James and Elizabeth Piper, editing …
UK source dismisses report Kwarteng will ask banks not to bet against sterling Read More »
By Paul Sandle LONDON (Reuters) – Burberry Group has appointed Daniel Lee as its new chief creative officer, replacing Riccardo Tisci, who is stepping down after presenting his final runway show for the British luxury brand on Monday. The end of Tisci’s near five-year tenure at Burberry follows the arrival of Jonathan Akeroyd as new …
Designer Daniel Lee replaces Riccardo Tisci at Burberry Read More »
(Reuters) – The European Central Bank may need to raise interest rates by another 75 basis points next month as inflation remains unacceptably high, Slovak central bank chief Peter Kazimir told a news conference on Wednesday. The ECB already lifted rates by a combined 125 basis points at its past two meetings, the quickest pace …
ECB may need to lift rates by 75 basis points in Oct, Kazimir says Read More »
STOCKHOLM (Reuters) – Sweden’s economic growth will grind to a halt next year amid soaring inflation and interest rate rises, casting a pall over households and businesses as they prepare for rough times ahead, data showed on Wednesday. The economy started the year strongly but the effects of the war in Ukraine and the surging …
Swedish economy set to grind to a halt as inflation bites Read More »
BRUSSELS (Reuters) – European Commission chief Ursula von der Leyen on Tuesday said the leaks of the Nord Stream pipelines were caused by sabotage, and warned of the “strongest possible response” should active European energy infrastructure be attacked. “Spoke to (Danish Prime Minister Mette) Frederiksen on the sabotage action Nordstream,” von der Leyen said on …
EU sees sabotage of Nord Stream, warns against attacks on ‘active infrastructure’ Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Individuals and companies that suffer harm from drones, robots and other products or services equipped with artificial intelligence software will find it easier to sue for compensation under EU draft rules seen by Reuters. The AI Liability Directive, which the European Commission will announce on Wednesday, aims to …
EU draft rules to make it easier to sue drone makers, AI systems Read More »
BRUSSELS (Reuters) – A group of European Union countries are pushing Brussels to produce plans this week for a bloc-wide cap on the price of gas, according to a letter seen by Reuters late on Tuesday. The EU proposed a package of emergency measures to tackle soaring energy prices earlier this month, but has steered …
Group of countries push EU for gas price cap -letter Read More »
By Ludwig Burger FRANKFURT (Reuters) – Europe’s drug makers have warned they may stop making some cheap generic medicines because of surging electricity costs and are calling for an overhaul of the way they are priced, the latest industry to seek help as the energy crisis deepens. The generic drug industry lobby group Medicines for …
Europe’s generic drugmakers may cut output due to surging energy bills Read More »
