By David Milliken and Farouq Suleiman LONDON (Reuters) -Bank of England Governor Andrew Bailey said on Monday that the current surge in inflation was the central bank’s biggest challenge since it gained independence in 1997, but denied that policymakers had been “asleep at the wheel”. Bailey has been criticised for failing to act sooner on …
BoE faces historic test but not to blame for inflation, Bailey says Read More »
By Sruthi Shankar (Reuters) -UK’s blue-chip index rose on Monday, aided by gains in healthcare and resource-linked stocks, though subdued data from China stoked slowdown concerns in the world’s second-largest economy and kept sentiment in check. The FTSE 100 index ended 0.6% higher, with pharmaceutical giants such as AstraZeneca and GlaxoSmithKline and oil majors Shell …
FTSE 100 rises as healthcare, resource-linked gains offset China jitters Read More »
LONDON (Reuters) – More than 50 economists warned on Monday that Britain’s post-Brexit plans to boost the competitiveness of its huge finance industry risked creating the kind of problems that led to the global financial crisis. The government, seeking to use its “Brexit freedoms”, announced this month that it would require regulators to help the …
Economists sound the alarm over UK’s post-Brexit finance plans Read More »
By Joice Alves LONDON (Reuters) – Sterling fell on Monday as weak Chinese economic data added pressure on risky currencies, while investors scaled down their expectations for Bank of England interest rate rises this year. Risk-sensitive sterling has fallen 10% against the dollar this year as the war in Ukraine, rising inflation, poor domestic economic …
BRUSSELS (Reuters) – Euro zone trade balance swung into a record deficit in March, data showed on Monday, on surging costs of imported energy. The European Union’s statistics office Eurostat said the 19 countries sharing the euro recorded a trade deficit, unadjusted for seasonal swings, of 16.4 billion euros in March compared to a 22.5 …
Euro zone trade plunges into record deficit in March on energy Read More »
By Jan Strupczewski BRUSSELS (Reuters) -Russia’s invasion of Ukraine and the resulting surge in energy and commodity prices will slash euro zone economic growth this year and next, while boosting inflation to record levels, the European Commission forecast on Monday. The Commission cut its growth forecast for the 19 countries sharing the euro to 2.7% …
Ukraine war to slash euro zone 2022 growth, boost inflation -EU Read More »
By James Davey LONDON (Reuters) -British baker and fast food chain Greggs warned on Monday of increasing cost pressures but said markets were so uncertain that it had given up on providing forecasts for cost inflation. Greggs, known for its sausage rolls, steak bakes, vegan snacks and sweet treats, said that while expected cost inflation …
British baker Greggs warns of increasing cost pressures Read More »
By Dhara Ranasinghe LONDON (Reuters) -Euro zone government bond yields rose on Monday after European Central Bank policymaker Francois Villeroy de Galhau said a weak euro threatened price stability in the currency bloc. The euro’s weakness on currency markets could threaten the ECB’s efforts to steer inflation towards its target, Villeroy said. The currency has …
Euro zone bond yields up after ECB’s Villeroy voices euro concerns Read More »
FRANKFURT (Reuters) – The European Central Bank may kick off the development of its digital euro, an electronic version of banknotes and coins, by the end of next year, ECB board member Fabio Panetta said on Monday. “Finally, at the end of 2023 we could decide to start a realisation phase to develop and test …
ECB may kick off development of digital euro by end-2023, Panetta says Read More »
PARIS (Reuters) -French retailer Casino said in a statement it had launched a process to sell its renewable energy unit GreenYellow with a view to a potential transaction by the end of the year, sending its shares up 3.6%. On Friday, French financial daily Les Echos reported that French energy giant TotalEnergies and power company …
Casino says it plans to sell renewable energy unit, shares up Read More »
