Economy

Eurozone economy grows faster than expectations

Euro zone employment grew slightly more than expected last quarter, and the economy expanded at a solid pace, offering hope for a soft landing after over a year of near-stagnation.…

Read More Here

‘Plausible’ June rate cut as European equities hit record highs

According to Euronews, the latest minutes from the European Central Bank meeting indicated a rising chance for easing monetary policy in June. While a majority support maintaining current rates. The…

Read More Here

Economic activity in EU to regain pace through 2024 – report

Economic activity in the European Union is anticipated to gradually pick up throughout 2024 after a weak start to the year, according to the Commission’s latest economic forecast. As inflation…

Read More Here

Euro zone banks expect rebound in mortgage applications – ECB

Euro zone banks expect a small rebound in the demand for mortgages and loans to companies early this year as a slump in lending shows early signs of moderating, a…

Read More Here

Eurozone economy to contract or stagnate in Q4, ECB’s De Guindos says

The euro zone's economy is likely to contract slightly or at best stagnate in the fourth quarter, ECB's vice president Luis de Guindos said on Tuesday."We have seen a quarterly…

Read More Here

As global debt worries mount, is another crisis brewing?

Record debts, high interest rates, the costs of climate change, health and pension spending as populations age and fractious politics are stoking fears of a financial market crisis in big…

Read More Here

IMF says global economy ‘limping along,’ cuts growth forecast for euro area

The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro area and said overall global growth remained low and uneven despite what it called the…

Read More Here

Euro zone underlying inflation finally easing: ECB’s de Guindos

Underlying price pressures in the euro zone, a key focus for European Central Bank policymakers, are finally easing and past rate hikes have started to work their way through the economy, ECB…

Read More Here

World food prices fall again in June – UN food agency

The United Nations food agency's world price index fell in June to its lowest level in more than two years, pushed down by a drop in the cost of sugar,…

Read More Here

Reform of EU fiscal rules expected by end of year

European Union members are expected to reach a compromise on a proposed reform of EU fiscal rules by the end of the year, the finance ministers of Germany, France and…

Read More Here

The EU’s complex landscape: Balancing inflation, growth, and stability

Keith Zahra, Communications Manager, Corporate and EU Affairs at Corporate Identities Towards the end of last year, English publisher Collins designated ‘perma-crisis’ as the word of the year, symbolizing the prolonged…

Read More Here

ECB to raise rates further even as economy stutters

The European Central Bank is all but certain to raise borrowing costs to their highest level in 22 years on Thursday and leave the door open to more hikes, extending…

Read More Here

ECB’s Lagarde sees no peak in core inflation despite ‘moderation’

European Central Bank President Christine Lagarde on Monday acknowledged "signs of moderation" in core inflation in the euro zone but reaffirmed it was too early to call a peak in that…

Read More Here

Pension reform defiance brings new blood to French trade unions

CGT seeing new interest from young and private sector Union membership had stagnated at about 10% of workforce Challenge is to keep membership in era of home-working By Leigh Thomas…

Read More Here

How much water does tourism in the Balearic Islands use?

One of the most frequent comments among the population residing in the Spanish Balearic Archipelago – a renowned tourist destination for Europeans – used to be: “Tourists consume a lot…

Read More Here

Update – Oil prices rise as tight supplies compete with economic concerns

LONDON, May 15 (Reuters) - Oil prices edged up on Monday as the prospect of tightening supplies due to OPEC+ production cuts and a resumption in U.S. buying for reserves outweighed concerns…

Read More Here

High inflation still top concern for global economy, say economists

Persistently high inflation remains the biggest economic concern this year even as most central banks are at or near the end-game for rate rises, according to Reuters polls of economists…

Read More Here

Six major central banks increased interest rates in March

The pace of interest rate hikes by major developed and emerging market central banks continued at a healthy clip in March though the scale of rises tapered off somewhat as…

Read More Here

EU executive to propose countries set own fiscal targets for 2024

The European Commission is likely to propose on Wednesday that EU governments set their own deficit-cutting goals when they prepare draft budgets for 2024, pushing ahead with its idea of country-specific debt reduction…

Read More Here

ECB survey sees moderating inflation, rising wage expectations

Inflation expectations among euro zone consumers dropped in January but expectations for wage growth continued to rise, adding to fears wage growth will slow efforts to control prices, a European…

Read More Here

Euro zone Q4 GDP growth confirmed, employment up more than expected

Euro zone gross domestic product growth slowed in the last three months of 2022 but stayed in positive territory, the EU's statistics office confirmed on Tuesday, and employment rose more than…

Read More Here

IMF chief says markets have good reasons to be more upbeat on economy

The head of the International Monetary Fund (IMF) said on Monday that financial markets have good reason to be more upbeat, pointing to the U.S. economy likely avoiding recession and…

Read More Here

EC raises euro zone 2023 growth forecast, sees lower inflation

Euro zone economic growth is likely to be stronger than previously expected this year while inflation will be lower than in forecasts towards the end of 2022, the European Commission said on…

Read More Here

ECB survey shows rising inflation expectations despite energy price falls

Euro zone consumer expectations for inflation edged up again in December, a European Central Bank survey showed on Tuesday, indicating that recent interest rate hikes and falling energy prices have not yet tempered…

Read More Here

Coffee prices to drop 12% as global surplus forecast

Arabica coffee prices are forecast to post an annual drop of 12% in 2023, with a large crop in top producer Brazil expected to lead to a global coffee surplus…

Read More Here

EU commissioner: we don’t want a subsidy war with U.S

The European Union does not want to wage a subsidy war against the United States over its Inflation Reduction Act, EU Commissioner Paolo Gentiloni said in Berlin on Tuesday. The EU Commission plans to present…

Read More Here

IMF lifts 2023 global growth forecast on China reopening, strength in U.S., Europe

The International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the United States and Europe, an easing of energy costs and…

Read More Here

Central banks bought the most gold since 1967 last year

Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year since 1967, the World Gold…

Read More Here

Euro zone economic sentiment rises in January to seven-month high

Euro zone economic sentiment rose to a seven-month high in January on more optimism across all sectors except construction, with inflation expectations among consumers and companies both sharply down, data…

Read More Here

EU may avoid recession, have a more shallow contraction instead -Gentiloni

Latest economic data shows the European Union may avoid a recession that was expected earlier and have a more shallow contraction instead, European Economic Commissioner Paolo Gentiloni said. "The economic situation is…

Read More Here

Goldman Sachs no longer expects recession in euro zone in 2023

Goldman Sachs said on Tuesday it expects the euro zone economy to grow by 0.6% this year, compared with its previous forecast of a contraction, thanks to a fall in natural gas…

Read More Here

Tech firms lead companies with most December job cuts -report

American technology firms dominated the number of announced job cuts in December, as some employers downsized workforces to brace for the prospect of difficult economic times looming ahead. According to…

Read More Here

EU’s Gentolini: We will have a recession this winter

Europe will fall into a recession this winter and growth will not return before spring, European Economy Commissioner Paolo Gentiloni said on Monday. "We will have a recession this winter,"…

Read More Here

OPEC+ agrees no change to oil policy – sources

LONDON/DUBAI, Dec 4 (Reuters) - OPEC+ agreed to stick to its oil output targets at a meeting on Sunday, two OPEC+ sources told Reuters, as the oil markets struggle to assess the…

Read More Here

Europe to be hit hardest in global slowdown -OECD

The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown with Europe hit hardest, the OECD said on…

Read More Here

Euro zone Q3 GDP confirmed at 0.2% q/q, employment up as well

Euro zone gross domestic product grew by 0.2% quarter-on-quarter in the July-September period for a 2.1% year-on-year increase, Eurostat confirmed on Tuesday, while employment in the single currency area also…

Read More Here

IMF says global economic outlook getting ‘gloomier’, risks abound

The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months. It…

Read More Here

ECB will probably keep raising rates beyond 2% level – Villeroy

The European Central Bank (ECB) will probably continue to raise interest rates beyond 2%, but "jumbo" rate hikes will not become a new habit, France's central bank chief said in…

Read More Here

Euro zone banks see falling loan demand, tighter access to credit in Q4

Euro zone banks expect to tighten access to credit further in the fourth quarter and see a drop in loan demand as economic growth slows and interest rates rise, the…

Read More Here

Inflation drives global firms eastward in Europe in search of cost savings

Central European companies that provide remote, lower-cost business services for multinationals are ramping up their expansion plans as high inflation drives global firms to push more work to the region…

Read More Here

Italy forecasts recession as Meloni seeks economy minister

Italy's economy probably shrank in the third quarter and will keep contracting until mid-2023, according to Treasury forecasts that will make grim reading for Giorgia Meloni, the rightist leader expected…

Read More Here

Britain’s tax backdown bounces stocks and sterling

Asian stocks bounced on Tuesday after Britain scrapped bits of a controversial tax cut plan, tentatively improving global market sentiment and rallying bonds and the pound. In trade thinned by holidays in…

Read More Here

Asked about Italy, ECB’s Lagarde says she won’t fix ‘policy errors’

The European Central Bank won't use its latest emergency scheme to buy the bonds of countries that make "policy errors", its President Christine Lagarde said on Monday in response to…

Read More Here

Global economy may avoid recession as inflation risks ease – J.P. Morgan

The global economy could avert a recession as data points to a potential soft landing, J.P. Morgan analysts said, while adding that the Federal Reserve might have "over-reacted" with the…

Read More Here

Floods, other water-related disasters could cost global economy $5.6 trillion by 2050 -report

Worsening droughts, storms and torrential rain in some of the world's largest economies could cause $5.6 trillion in losses to the global economy by 2050, according to a report released…

Read More Here

Pain of controlling inflation will reverberate around the globe

The message from the world's top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession…

Read More Here

Oil rises on prospect of OPEC supply cut, demand growth

Aug 29 (Reuters) - Oil prices rose 1% on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring…

Read More Here

Analysis: As Ukraine war drags on, Europe’s economy succumbs to crisis

It was meant to be Europe's stellar year. A post-pandemic spending euphoria, supported by copious government spending was set to drive the economy and help fatigued households regain a sense…

Read More Here

Euro zone business activity contracts in August, outlook bleak

Business activity across the euro zone contracted for a second straight month in August as the cost of living crisis forced consumers to curtail spending while supply constraints continued to hurt…

Read More Here

World shares edge up even as inflation and policy concerns linger

World shares edged up by mid-week taking comfort from strong U.S. retail earnings even though the UK's highest inflation since 1982 and a rate hike in New Zealand reminded investors…

Read More Here

Bank of England will probably need to raise rates again – Deputy Governor

The Bank of England will probably have to raise interest rates further from their current 14 year-high to tackle inflation pressures that are gaining a foothold in Britain's economy, BoE…

Read More Here

UK government told to act now over cost of living crisis

The British government came under pressure on Monday to set out plans immediately to support families through a mounting cost of living crisis, with a leading business group and former prime minister…

Read More Here

German finance minister draws up 14 billion eur relief plan – Spiegel

German Finance Minister Christian Lindner plans a 10.1 billion euro ($10.29 billion) relief package to help taxpayers in 2023 which he is set to present next week, the Spiegel news weekly…

Read More Here

IMF cuts global growth forecasts, warns high inflation threatens recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy…

Read More Here

Trouble looms for Europe as Germany slides on brink of recession

German business morale fell more than expected in July, the Ifo business sentiment survey showed on Monday, as the institute that compiles it said high energy prices and looming gas…

Read More Here

Malta’s financial system’s resilience and performance improve despite challenging times – Central Bank

A report by the Central Bank of Malta shows that despite the high uncertainty surrounding the global economic climate, banks reported improved asset quality owing to both reduced NPLs and…

Read More Here

UK new car sales fall 24% in June – SMMT

July 5 (Reuters) - British new car registrations fell 24% in June, according to preliminary industry data released on Tuesday. The Society of Motor Manufacturers and Traders (SMMT) said year-to-date registrations fell…

Read More Here