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Eurozone
The chief of Deutsche Bank warns that Germany could become the sick man of Europe
The chief executive of Deutsche Bank - the largest lender in Germany - has warned that Germany could become the sick person of Europe, if it does not reinvent itself.
Christian Sewing said to an audience in Frankfurt, Germany that…
ECB increases interest rates to an all-time high
The European Central Bank has raised interest rates to an all-time high in a bid to cool consumer prices, but the euro fell after the central bank signalled its cycle of increases was near its end.
The ECB's knife-edge decision to lift…
French bank BNP Paribas advises its clients to support Britain and avoid the eurozone
One of France's largest banks told its clients to withdraw their money from the Eurozone and send it back to Britain.
BNP Paribas, the investment bank, has advised clients to invest in British stocks. The reason given was that the…
OECD warns that a ‘wave of bankruptcy’ is threatening the eurozone due to rising…
The OECD warned that a "wave of bankruptcy" could threaten the Eurozone's economy, as companies used by ultra-low interest rates are now being hit by higher interest rates.
Businesses in Spain are particularly vulnerable to the high…
Eurozone money supply shrinks first time in 13 years as lending slows
The Eurozone's money supply shrank for the first since 2010, as private sector lending stagnated and deposits declined. This financial squeeze, which economists say could lead to further economic downturns in the future, has sparked a…
Bank of England increases interest rates by 0.25 percentage point
The Bank of England raised interest rates by 0.25 percentage points, to 5.25 percent. It warned that borrowing costs would likely remain high despite a slowdown in inflation.
The Monetary Policy Committee of the central bank voted on…
The ECB has raised interest rates to a record high
The European Central Bank raised interest rates to a record high but also signaled that eurozone borrowing cost may have reached a peak.
The ECB raised its benchmark deposit rate on Thursday by a quarter percentage point, to 3.75…
Is the UK still an outlier in global economics?
The UK economy has been a less outlier than thought in the peer group of countries, according to a recent flow of data. Figures showed unexpected resilience in the UK's economy and lowered inflation.
Few weeks ago, Britain remained the…
Legal & General Investment Chief Bets on UK Recession
The UK's biggest asset manager is buying bonds and selling stocks in preparation for an "significant" downturn. He warns that the Bank of England may be forced to push the economy into recession despite signs of a cooling of inflation.…
Transatlantic inflation gap to reach highest level in decades
This week, the gulf between the price pressures in Britain and the US is likely to reach levels not seen since late 1970s as Britain becomes an inflationary outlier on the global stage.
The figures released last week confirm that US…
Australia-EU trade deal stalls over meat quotas
The trade talks between Australia, the EU and Canada were suspended on Tuesday when Australian Minister Don Farrell left Brussels before settling a dispute about meat quotas.
Farrell said EU he would consult his cabinet first before he…
Bond fund giant Pimco is preparing for a ‘harder landing” for the global economy
The largest active bond manager in the world says that markets are overly optimistic about central bank's ability to avoid a recession while they fight inflation in Europe and the US.
Daniel Ivascyn is the chief investment officer of…
German bond market warns of Eurozone recession
Investors in German bonds are increasing their bets on the European Central Bank raising interest rates, which will cause the European economy to go into a further downturn. A closely monitored recession indicator has hit its highest level…
Europe’s banking champion has €7,6 billion to spend
The bank's leader, widely regarded as Europe's champion-in waiting, has everything he needs for a major merger.
Jean-Laurent Bonnafe, who has been at the helm of BNPParibas SA for 12 years, has amassed an $8.3-billion war chest. He is…
Gas prices in Europe doubled within 10 days, as traders remained on edge
The European gas price has doubled within 10 trading days. This shows that the market is still on edge, even though storage levels are at record highs.
The price of European gas benchmark Title Transfer Facility, or TTF, rose by as much…
EU warns that barriers to trade after Brexit will likely ‘deepen further’
The EU's Brexit Negotiator warned that trade barriers between the UK & EU will likely increase despite a resolution to a diplomatic standoff over Northern Ireland bringing a "new attitude" in the relations.
"Trade cannot be as fluid…
EU offers Tunisia more than EUR 1bn to stem migration
Brussels proposes €255mn in grants for Tunis, linking longer-term loans of up to €900mn to reforms The EU has offered Tunisia more than €1bn in a bid to help the North African nation overcome a deepening economic crisis that has prompted…
Eurozone inflation rises as policymakers consider another rate hike
The headline inflation rate in the Eurozone increased last month. It is therefore almost certain that the European Central Bank's rate-setters will have to raise borrowing costs once again this week.
The official figures of the…