Analysis: Europe’s banks dim lights as they brace for winter blackout
Some of Europe’s biggest banks are preparing back-up generators and to dim the lights as they brace for potential power cuts and energy rationing that threaten the money system underpinning the region’s economy.
Stocks fall on rate hike bets, yen drops to 24-year low
European stock markets opened in the red on Wednesday after U.S. economic data prompted traders to ramp up Federal Reserve rate hikes bets, pushing the dollar to a 24-year high against the Japanese yen.
Japan’s services sector shrinks for first time in five months in August – PMI
Japan’s services sector activity shrank for the first time in five months in August as a resurgence of COVID-19 infections hurt demand, a business survey showed.
EU gas price rockets higher after Russia halts Nord Stream flows
European gas prices rocketed as much as 30% higher on Monday after Russia said one of its main gas supply pipelines to Europe would stay shut indefinitely, stoking renewed fears about shortages and gas rationing in the European Union this winter.
Bank of Canada expected to push interest rates into restrictive territory
The Bank of Canada is widely expected to deliver yet another oversized interest rate hike next week, lifting its policy rate into restrictive territory for the first time in two decades, but bets are split on whether or not a pause will follow.
Oil rises on prospect of OPEC+ supply cut
Oil rose on Monday, extending last week’s gain, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth.
Sony to buy mobile game developer in push beyond consoles
Sony Group Corp (6758.T) on Monday said it will acquire Helsinki and Berlin-based mobile games business Savage Game Studios for an undisclosed amount as part of a major push by the Japanese conglomerate beyond console gaming.
BNPL lender Affirm’s shares tumble after gloomy full-year revenue forecast
Shares of Affirm Holdings Inc (AFRM.O) tumble 13% in premarket trading on Friday after the buy-now-pay-later lender’s full-year revenue forecast missed Wall Street estimates, underscoring the broader downturn in the fortunes of the once high-flying fintech sector.
Ukraine economy could grow by 15.5% in 2023 after deep fall – minister
Ukraine’s economy should stabilise over the coming year and expand by as much as 15.5% in 2023, depending on military developments in the war against Russia that began on Feb. 24, the country’s economy minister told Reuters in an interview.
Gas price surge, recession fears weigh on European shares
European shares slipped on Tuesday as investors fretted about soaring energy prices and a weak economic outlook after data showed business activity in the region contracted this month.
