BRUSSELS (AP) — A contest to lead Europe’s financial rescue fund is drawing to a close with the spotlight on three candidates. But a question that has hung over the monthslong race looks certain to persist: Will the winner have enough to do despite fresh economic shocks? Finance ministers from the 19 countries that share…
ST. PETERSBURG, Russia (AP) — The head of the Russian Central Bank warned Thursday that the country’s economy faces pressure from abroad that could persist indefinitely, dampening hopes that conditions could return to what they were before Russia sent troops into Ukraine. “It seems to me that it’s obvious to everyone that it won’t be…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed’s efforts so far to tame it. Increasingly, it seems, doing so might require the one painful thing the Fed has sought to avoid: A recession. A worse-than-expected…
By Mathieu Rosemain PARIS (Reuters) – France’s anti-trust watchdog body said on Thursday that it had approved commitments made by Facebook owner Meta Platforms regarding the French online advertising sector. Meta has committed to giving access over a five-year period to advertising inventories and campaign data to so-called advertising technology companies on transparent, objective and…
By Giulio Piovaccari and Nick Carey MARANELLO, Italy (Reuters) – Electric and hybrid models should make up 80% of Ferrari’s sales by 2030, the luxury carmaker told investors on Thursday, vowing to produce “even more unique” cars as it makes the expensive shift to zero-emission models. “We believe we can use the electric engine to…
LONDON (AP) — The Bank of England raised interest rates by a quarter-percentage point Thursday, shrugging off pressure for a bolder move to combat price increases that have pushed inflation to a 40-year high. The bank’s monetary policy committee voted 6-3 to boost its key rate to 1.25%, with the dissenters supporting a larger half-point…
By Danilo Masoni and Andrew Galbraith MILAN/SHANGHAI (Reuters) – World stocks fell on Thursday and the dollar regained its footing on concerns over the impact of surging inflation and an aggressive policy tightening outlook from global central banks. The Swiss National Bank raised its policy interest rate for the first time in 15 years with…
BRESCIA, Italy (AP) — Fine Italian knitwear packed in boxes addressed to retailers in Moscow, St. Petersburg and Kursk sit stacked in a Lombardy warehouse awaiting dispatch. Although not subject to sanctions to punish Russia for invading Ukraine, the garments are not likely to ship any time soon. Missing payments from the Russian retailers who…
By Supantha Mukherjee STOCKHOLM (Reuters) – The European Union risks falling behind its Digital Decade goals by 10 years unless the governments focus on bridging the skills gap, according to a report by strategic consultancy Public First. Last year the European Commission presented a 2030 vision that aims to transform the region with 80% of…
(Reuters) – Tesla Inc raised prices for all its car models in the United States, its latest price hike amid ongoing global supply-chain issues. The electric carmaker increased its Model Y long-range price to $65,990 from $62,990, its website showed on Thursday, after delaying the deliveries of some long-range models in the United States by…
