Reuters UK Business

JACKSON HOLE, Wyo. (Reuters) – Central banks need to urgently tackle inflation and recognise that the supply shocks that are pushing prices higher could linger, keeping persistent upward pressure on prices, Bank for International Settlements General Manager Agustín Carstens said. Many of the world’s top economies are struggling with inflation levels not seen in half …

Dealing with inflation now an urgent issue, BIS chief says Read More »

AMSTERDAM (Reuters) -Klaas Knot, a member of the European Central Bank’s governing council, said in an interview with Dutch national broadcaster NOS on Friday that he favours large interest rate hikes to tame inflation. Knot, who is also the Netherlands’ Central Bank president, was speaking from Jackson Hole, Wyoming, where the U.S. Federal Reserve is …

ECB’s Knot says he favors large rate hikes -NOS interview Read More »

LONDON (Reuters) – A strike by Scottish refuse workers over pay is spreading to more cities, with garbage from unattended bins overflowing on to Edinburgh’s high streets, raising a stink during the city’s international arts and Fringe festivals. Pay negotiations between local authorities and union leaders have been ongoing but Edinburgh’s bin strikes, which began …

Strike by waste workers in Scotland fills streets with garbage Read More »

By Bozorgmehr Sharafedin and Canan Sevgili LONDON (Reuters) – No more ironing, limited oven use and showering at work – Europeans are trying to keep their energy use down but the bills keep climbing. As wholesale gas and electricity prices surge, millions of people in Europe are now spending a record amount of their income …

Analysis-Forget showering, it’s eat or heat for shocked Europeans hit by energy crisis Read More »

By Anisha Sircar (Reuters) -European shares slipped on Friday as investors fretted over downbeat German consumer sentiment data due to rising energy costs and the path for U.S. interest rate hikes ahead of Federal Reserve Chair Jerome Powell’s speech at Jackson Hole. The pan-European STOXX 600 dipped 0.1% in choppy trade, after rising at the …

European stocks slip on dour German sentiment survey ahead of Powell speech Read More »

(Reuters) – A shortage of the gas carbon dioxide (CO2) is putting pressure on food sectors in some European countries, after major producers cut output in response to rising energy costs. Chemical makers produce CO2 as a byproduct used in parts of the food industry, ranging from putting the fizz into drinks and cooling products …

Factbox-Food industry in some parts of Europe under pressure as CO2 runs short Read More »

(Reuters) – Lending to euro zone companies continued to surge in July, beating expectations for a slowdown due to rising recession fears and plans by lenders to tighten access to fresh credit, European Central Bank data showed. Lending to businesses in the 19-country euro area expanded by 7.7% in July after 6.9% a month earlier, …

Euro zone business credit growth surges again in July Read More »

LONDON (Reuters) – Britain’s energy regulator Ofgem said on Friday the cap on domestic energy prices would rise to 3,549 pounds ($4,188.17) a year from the start of October due to soaring wholesale costs, increasing pressure on already-stretched household budgets. PREVIOUS AND FORECAST PRICE CAP LEVELS The price cap has more than tripled in the …

Factbox-How far are UK energy bills set to rise and what help are consumers getting? Read More »