By David Milliken LONDON (Reuters) -The Bank of England should be prepared to raise interest rates rapidly to reduce the likelihood that it will need to squeeze the economy for an extended period to bring down inflation, BoE policymaker Catherine Mann said on Monday. Mann said the BoE’s “gradualist” approach of four quarter-point interest rate …
UK may need ‘fast and forceful’ rate rises, BoE’s Mann says Read More »
MOSCOW (Reuters) – Russian gas giant Gazprom said on Monday it had received a formal warning from Russian regulators that the idled Portovaya compressor station, which is supposed to push gas towards Germany through the Nord Steam 1 pipeline, no longer complied with safety requirements. Gazprom had said on Friday that it had detected a …
Gazprom: off-line Nord Stream compressor station now deemed hazardous Read More »
FRANKFURT (Reuters) – German utility E.ON on Monday said it is ready to deal with a government request to keep its Isar 2 nuclear plant in reserve mode, beyond the scheduled closure at the end of 2022. “With the plan now presented, the most important question will be to examine whether and how it is …
E.ON says assessing government request to keep Isar 2 on standby Read More »
By Bansari Mayur Kamdar and Johann M Cherian (Reuters) -UK’s FTSE 100 index ended slightly higher on Monday as commodity stocks gained, while investors looked ahead to the appointment of Liz Truss as Britain’s new prime minister against a deteriorating economic backdrop. The commodity-heavy FTSE 100 ended 0.1% higher, after falling as much as 1.2% …
By Alex Lawler, Ahmad Ghaddar and Maha El Dahan LONDON (Reuters) – OPEC and its allies led by Russia on Monday agreed a small oil production cut to bolster prices that have slid on fears of an economic slowdown. The oil producers will cut output by 100,000 barrels per day (bpd), amounting to only 0.1% …
MOSCOW (Reuters) – Russia’s finance ministry said on Monday it expects an additional 403.4 billion roubles ($6.65 billion) in budget revenue in September thanks to higher oil prices. It said it did not plan to use extra budget revenue to buy foreign exchange or gold on the market, as such purchases under the budget rule …
Russia sees extra $6.7 billion in September revenue on higher oil prices Read More »
BRUSSELS (Reuters) – Euro zone retail sales rose in July, but by less than expected because of a continued slump in demand for non-food products, data form the EU’s statistics office Eurostat showed on Monday. Eurostat said retail sales in the 19 countries sharing the euro, a proxy for consumer demand, increased 0.3% month-on-month in …
Euro zone July retail sales rise, but weaker than expected Read More »
(Reuters) – German new passenger car registrations rose 3% in August to nearly 200,000 vehicles, an industry source said on Monday. From January to August, new passenger car registrations fell 10% to 1.64 million vehicles, the source added. (Reporting by Jan Schwartz; Writing by Paul Carrel; Editing by Miranda Murray)
By Aby Jose Koilparambil (Reuters) -Britain’s Vistry is set to become the third-largest housebuilder in the country after agreeing on Monday to buy rival Countryside for about 1.25 billion pounds ($1.43 billion) to bolster its affordable housing business. Countryside shareholders would get 0.255 new Vistry shares and 60 pence in cash for each Countryside share. …
Vistry set to be UK’s No.3 housebuilder with $1.4 billion Countryside deal Read More »
(Reuters) – The UK’s new car registrations rose 1.2% in August from a year earlier, snapping five-straight months of declines, largely boosted by growth in battery electric vehicles (BEVs), according to industry data released on Monday. The Society of Motor Manufacturers and Traders (SMMT) said registrations in August, which is considered the second quietest month …
UK new car registrations rise 1.2% in August on battery EV sales Read More »
