BERLIN (Reuters) – German Chancellor Olaf Scholz will hold a news conference in Berlin at around 12.00 pm local time (1000 GMT) on Friday on energy policy, the government has announced. The government has been negotiating a bailout deal for Uniper, Germany’s largest importer of Russian gas, and sources told Reuters that Finnish parent Fortum …
German government calls news conference amid Uniper bailout talks Read More »
LONDON (Reuters) – Britain’s businesses grew at their slowest pace in 17 months in July and inflation pressures eased, according to an industry survey that might reduce pressure on the Bank of England to deliver a bigger-than-usual interest rate hike next month. The preliminary version of the S&P Global’s Purchasing Managers’ Index (PMI), covering services …
UK firms report growth at 17-month low, inflation pressures ease -flash PMI Read More »
ROME (Reuters) – Telecom Italia shares and bonds fell on Friday after ratings agency Moody’s downgraded the phone group’s credit rating. Moody’s on Thursday cut TIM’s rating by one notch to ‘B1’, citing expectations that the former phone monopoly’s leverage would remain high and free cash flow would stay negative over the next two to …
Telecom Italia shares, bonds drop after Moody’s credit rating cut Read More »
MADRID (Reuters) – The political crisis in Italy earlier this week was not behind the creation of an anti-fragmentation tool by the European Central Bank, policymaker Pablo Hernandez de Cos said on Friday. The ECB announced on Thursday its new Transmission Protection Instrument (TPI), which will let it buy bonds from indebted countries such as …
Crisis in Italy was not behind creation of ECB’s anti-fragmentation tool, De Cos says Read More »
BERLIN (Reuters) – Daimler Truck has started production of its second electric model, an inner-city waste disposal truck named the eEconic, the company said on Friday, as it seeks to capture market share in Europe’s tiny but growing electric truck market. The vehicle will be produced at the same site as the truck and bus …
Daimler Truck starts production of second electric truck, the eEconic Read More »
(Refiles to additional customers, with no changes to text) FRANKFURT (Reuters) – German gas importer Uniper, its Finnish majority-owner Fortum and the Finnish and German governments have agreed in principle on a bailout solution to rescue the company from financial distress caused by thinning Russian gas supply, three people familiar with the matter told Reuters …
Finnish parent Fortum has agreed to Uniper bailout deal with German govt – sources Read More »
LONDON (Reuters) – Euro zone business activity unexpectedly contracted this month due to an accelerating downturn in manufacturing and a near-stalling of service sector growth as burgeoning costs pushed consumers to cut back on expenditure, a survey showed. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), seen as a good gauge of overall economic health, …
Euro zone business activity contracted in July as price rises bite – PMI Read More »
FRANKFURT (Reuters) – Businesses across the euro zone continued to report mounting inflation pressures and an acceleration in wage growth, even as the overall growth outlook becomes increasingly murky, the European Central Bank said, based on a survey of 71 major firms. Worried about steadily building inflation pressures, the ECB raised interest rates more than …
Euro zone firms see continued inflation, wage pressures – ECB survey Read More »
By Sheila Dang (Reuters) -Snap Inc missed second-quarter revenue targets on Thursday as record-high inflation and increasing competition from rival apps like TikTok hurt advertising demand, but it reported higher user growth than Wall Street had expected. Shares of Snap dropped 21% in trading after the bell. The Snapchat owner is the first of the …
Snap misses revenue targets as growing competition slows growth, shares fall Read More »
PARIS (Reuters) – French economic growth will slow sharply next year in the face of mounting geopolitical risks, pushing back improvement in the public sector budget deficit until afterwards, the Finance Ministry said on Thursday. Updating its long-term forecasts, the ministry said growth in the euro zone’s second-biggest economy was now expected to slow from …
France sees slower growth stalling deficit reduction in 2023 Read More »
