Euro zone inflation hits yet another record high after big jump
Euro zone inflation rose to another record high in July and its peak could still be months away, keeping pressure on the European Central Bank to opt for another big interest rate increase in September.
EXCLUSIVE Germany to overhaul laws to allow energy bailouts – sources
Germany’s government will have the power to take stakes in utilities and impose emergency levies on consumers under proposed legal changes now under discussion, three sources told Reuters, as Berlin moves to beef up energy security.
Singapore to hike taxes on rich as it winds down COVID-19 spending
Singapore will begin implementing a long-flagged increase to its goods and services tax next year, its finance minister said in his budget speech on Friday, while also announcing a slew of tax hikes aimed at higher income groups.
France’s economy bursts in the third quarter, and inflation soars
The French economy increased at a faster-than-expected 3 percent in the third quarter, according to preliminary statistics released on Friday, fueled by an increase in aggregate demand and exports as the eurozone’s second-largest economy recovers from the COVID-19 pandemic. Following the pandemic, an economic boost was always required for France, as tourist visits to the […]
Miners, mixed earnings drag down European stocks
European stocks slipped on Wednesday, with miners leading the declines after concerns about Chinese intervention hit metal prices, while mixed corporate earnings reports kept investors on edge.
Swedbank profit tops forecast as commission income hits record
Swedish bank Swedbank (SWEDa.ST) on Thursday reported better-than-expected net profit for the third quarter on the back of continued strong growth for mortgages and record commission income.
Heating bills in the United States are expected to rise as energy prices rise!
According to the U.S. Energy Information Administration’s 2021 data, households can expect their heating bills to increase by up to 54% this winter compared to last. According to experts, this is due to the current state of supply and demand. Aside from supply and demand, experts predict a colder winter. Millions of households around the […]
Asian shares jump in on Fed’s dovish chair!
After U.S. Federal Reserve Chairman Jerome Powell struck a more dovish tone than some investors expected in a long-awaited speech on Friday, Asian shares started the week with gains and the dollar was not far off two-week lows. Meanwhile, oil prices increased after energy companies halted output as Hurricane Ida blasted into the United States’ […]
Energy, services boost euro zone inflation in May as expected
A sharp spike in energy prices and more expensive services boosted euro zone consumer inflation in May as expected, data confirmed on Thursday, taking the rate of price growth just above the European Central Banks target.
Crude oil prices steady near multi-year highs
Crude oil prices hovered near multi-year highs on Thursday buoyed by dropping U.S. crude inventories and broadly shrugging off a stronger U.S. dollar.
