By Giuseppe Fonte ROME (Reuters) – Italy’s Treasury has no plans to adopt measures impacting the country’s 307 billion euro ($328 billion) bad loan market, a ministry source said on Wednesday, after some ruling lawmakers resubmitted a measure to protect borrowers if they fall behind in repaying bank debts. The parliamentary proposal was submitted by …
Italy’s Treasury distances itself from proposal on bad loan market Read More »
By Savyata Mishra (Reuters) -Kellanova, formerly Kellogg, and its newly spun-off North America cereal business WK Kellogg beat third-quarter sales estimates on Wednesday, supported by higher prices for their ready-to-eat breakfast cereals and snacks. Shares of Kellanova were about 2% higher while WK Kellogg rose about 4%. “Kellanova business gets an immediate lift from the …
Pringles maker Kellanova taps higher snack prices to boost sales Read More »
BERLIN (Reuters) -The German economy will contract in 2023 and recover only slightly next year, according to the annual report of the German Council of Economic Experts published on Wednesday. Germany’s gross domestic product is expected to contract by 0.4% in 2023, according to the experts, in line with the forecast of the German government. …
German economy to recover only slightly in 2024 – experts group Read More »
(Reuters) – Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation’s biggest private property developer, sources said. A state-engineered rescue of Country Garden by Ping An would be one of the most significant interventions to date by authorities to support the cash-squeezed and highly indebted …
Factbox-China’s measures to shore up its indebted property sector Read More »
By Mike Dolan LONDON (Reuters) – If the notorious ‘term premium’ is evaporating again, then last month’s bond rout may just have been a nightmare. But it may require monitoring Treasury and Congress as much as the Federal Reserve to make sure it is not a recurring dream. After a brutal squeeze higher in long-term …
Column-October suddenly looks like a bad bond dream: Mike Dolan Read More »
A look at the day ahead in European and global markets from Kevin Buckland Markets are largely in a holding pattern, with investors looking to two days of commentary from Fed Chair Jay Powell starting later in the day for a steer on whether U.S. rate hikes are indeed done. Last week’s surprisingly soft jobs …
LONDON (Reuters) – Sri Lanka and Argentina remain very vulnerable amid a worsening in global financial conditions while China has suffered a sharp deterioration in financial resilience since pre-COVID times, a think-tank study found on Wednesday. The resilience indicator, published by the Washington-based Center for Global Development, assesses which countries would be most economically and …
Sri Lanka, Argentina top list of most vulnerable economies -study Read More »
BEIJING (Reuters) -China is expected to hit its annual gross domestic product growth target this year, and the country must transform its growth model to pursue high-quality and sustainable expansion, the country’s central bank governor said on Wednesday. Growth momentum has improved recently with production and consumption recovering steadily and employment and consumer prices remaining …
China’s 2023 growth target within reach -central bank governor Read More »
FRANKFURT (Reuters) – Rapid wage growth in the euro zone could keep inflation elevated longer and the European Central Bank should hold interest rates at or near record highs through next year to extinguish price pressures, the International Monetary Fund said on Wednesday. The ECB broke a streak of ten straight rate hikes last month, …
ECB must keep rates at or near 4% through 2024 to get inflation down -IMF Read More »
BEIJING (Reuters) – China will resolutely guard against overshooting risks of the yuan exchange rate, People’s Bank of China (PBOC) Governor Pan Gongsheng said, according to a report on Wednesday by Financial News, a newspaper owned by the PBOC. The comments come as the Chinese yuan has lost more than 5% so far this year …
China will guard against yuan overshooting risks – PBOC publication Read More »
