China’s largest banks signal tough times ahead
Five of China’s largest banks have said the country’s lenders face multiple headwinds this year that include the pandemic, global politics and domestic turmoil in the real estate industry.
EU’s Vestager says no antitrust concerns yet about cloud computing
Cloud computing, in which Amazon (AMZN.O) and Microsoft (MSFT.O) are the biggest players followed by Alphabet’s (GOOGL.O) Google, doesn’t pose competition concerns yet because of Europe’s Gaia-X initiative, EU antitrust chief Margrethe Vestager said on Monday.
World Bank approves $830 mln in loans to Colombia
Colombia will receive two loans totalling $830 million from the World Bank to fund COVID-19 pandemic recovery and education efforts, the country’s government and the bank said on Thursday.
Bank of England raises rates to 0.75%, less sure about future moves
The Bank of England raised interest rates on Thursday for a third meeting running, as expected, but softened its language on the need for further increases from here.
Oil surges amid warnings of supply shortages
Oil prices climbed 6% on Thursday after the International Energy Agency (IEA) said three million barrels a day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to raise interest rates.
Analysis: BOJ has little room to move as Ukraine clouds recovery, prices soar
The crisis in Ukraine is giving the Bank of Japan a headache not facing other major central banks, forcing it to maintain a more dovish stance on monetary policy despite rising inflationary pressures and a dearth of tools to combat another economic downturn.
Analysis: Ukraine invasion sets back Musk’s dream for cheaper EVs, for now
Surging raw materials costs, made worse by Russia’s invasion of Ukraine, could set back the dream of Tesla (TSLA.O) Chief Executive Elon Musk and other auto executives to roll out more affordable electric vehicles.
Bank of Italy says it is ending COVID-related relief measures for banks
The Bank of Italy said on Tuesday it would remove a number of relief measures on banking requirements that had been introduced to help lenders through the COVID-19 crisis.
Bank of Ireland posts highest profit in more than a decade
Bank of Ireland (BIRG.I) on Monday posted its biggest annual profit since the global financial crisis more than a decade ago and said it plans to return of 104 million euros ($116 million) to shareholders through dividends and buybacks.
Analysis: Russia’s economic defences likely to crumble over time under sanctions onslaught
Russia has spent the past seven years building up formidable financial defences, yet in the long run, its economy is unlikely to withstand the onslaught of coordinated sanctions from the West.
