By Timothy Gardner and Noah Browning WASHINGTON (Reuters) -International Energy Agency states agreed to tap 60 million barrels of oil from storage, the director of the group said on Wednesday, on top of a 180 million-barrel release announced by Washington last week aimed at cooling prices after Russia’s invasion of Ukraine. The move by the …
IEA countries to tap 60 million barrels of oil on top of U.S. release Read More »
PARIS (Reuters) – President Emmanuel Macron on Wednesday confirmed that a preliminary investigation linked to tax fraud had been launched into the French arm of US consultancy firm McKinsey by France’s national financial prosecution office PNF. PNF earlier on Wednesday said launched a tax fraud probe linked to consulting firms without specifying which firms were …
French government says McKinsey will pay all taxes it should pay Read More »
By Giuseppe Fonte and Gavin Jones ROME (Reuters) -Italy on Wednesday slashed its growth estimate for this year as the war in Ukraine weighs on the economy, while confirming a previous budget deficit target of 5.6% of national output. The Treasury’s annual Economic and Financial Document (DEF) forecasts gross domestic product in the euro zone’s …
Italy slashes growth outlook as Ukraine weighs, confirms deficit goal Read More »
MADRID (Reuters) – Spanish construction company ACS said on Wednesday it has an exclusive agreement with two investment funds, GIP and Brookfield, for the potential acquisition of a majority stake in the highway business of the Italian infrastructure company Atlantia. It said in a statement it had not yet made a decision. Earlier on Wednesday, …
Spain’s ACS says it intends to buy Atlantia highway business Read More »
By Sruthi Shankar and Devik Jain (Reuters) – Britain’s main stock indexes snapped three sessions of gains on Wednesday as investors feared an aggressive U.S. monetary policy tightening and new Western sanctions on Russia would slow economic growth. The blue-chip FTSE 100 index closed 0.3% lower, dragged down by Unilever which fell 1.1% after Barclays …
UK shares break 3-day winning streak on U.S. rate hike worries Read More »
BERLIN (Reuters) – German Finance Minister Christian Lindner wants Europe’s biggest economy to stop imports of Russian oil and gas as soon as possible, but it is not feasible immediately, he told Die Zeit weekly. “If I followed my heart, there would be an immediate embargo on everything,” Lindner was quoted as saying, adding there …
Germany’s Lindner wants to give up Russian oil, gas but impossible immediately -Die Zeit Read More »
By Vera Eckert FRANKFURT (Reuters) – German coal importers’ group VDKi on Wednesday said the country should be able to find alternatives to Russian hard coal imports by the peak demand winter season, but there will be technical issues and increased costs. European Union ambassadors were on Wednesday debating new sanctions, including a ban on …
German coal importers say can handle Russian ban at a price Read More »
By Andy Bruce LONDON (Reuters) – The Bank of England last month softened its language on the need for more interest rate increases as rate-setters stressed downside risks to the economy, in addition to existing worries about inflation becoming embedded in expectations. But despite this, financial markets still expect the BoE to raise interest rates …
Bank of England policymakers weigh up need for more rate hikes Read More »
FRANKFURT (Reuters) – Economic growth rates in the euro zone could dip into negative territory this year and European Central Bank action to bring down short-term high inflation risks crashing the economy, ECB board member Fabio Panetta said on Wednesday. With euro zone inflation at a record high 7.5%, the ECB is increasingly coming under …
ECB action now to bring down high inflation could crash economy – Panetta Read More »
By Susan Mathew (Reuters) -European shares fell from over six-week highs on Wednesday, as investors grappled with the twin worries of aggressive U.S. interest rate hikes potentially hurting growth and more Western sanctions on Russia further stoking inflation. Breaking a three-day winning streak, the pan-European STOXX 600 index fell 0.8%, joining Wall Street and Asia …
Worries over U.S. rate hikes, sanctions weigh on European shares Read More »
