FRANKFURT, Germany (AP) — The European Central Bank raised interest rates Thursday for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the U.S. Federal Reserve and other major central banks to target stubbornly high inflation. The move raises new questions about whether the rush to make credit more…
A look at the day ahead in markets from Tommy Wilkes. If the European Central Bank’s inflation headache wasn’t bad enough, its first interest rate rise since 2011 will land on the day the government of its third-largest member state, Italy, fell apart. [nL8N2Z22RC]. Mario Draghi resigned as prime minister on Thursday after his coalition partners…
LONDON (AP) — The two candidates to become Britain’s next prime minister began a head-to-head battle on Thursday for the votes of Conservative Party members who will choose the country’s new leader. Former Treasury chief Rishi Sunak is promising fiscal prudence, while Foreign Secretary Liz Truss is offering immediate tax cuts to the right-of-center governing…
BRUSSELS (AP) — The European Union imposed more sanctions on Russia over the war in Ukraine on Thursday after the bloc’s 27 members backed measures that include a ban on gold imports and tighter export controls on some high-technology goods. European Commission Ursula von der Leyen said the “reinforced, prolonged EU sanctions against the Kremlin”…
MADRID (Reuters) – The expected price of new shares to be issued by Spanish renewable energy company Opdenergy is 4.75 euros, at the bottom of the indicated range, the bookrunner said on Thursday. The final price will be set on Thursday, with the company expected to start trading on the Madrid stock market on Friday…
By Supantha Mukherjee STOCKHOLM (Reuters) – Finnish telecom equipment maker Nokia reported on Thursday quarterly operating profit ahead of market expectations, boosted by strong demand for 5G gear, and sees signs of a global chip shortage easing. Nokia’s shares rose 4% in early trade. A semiconductor shortage that began around the height of the pandemic…
HONG KONG (AP) — China’s internet watchdog on Thursday fined ride-hailing firm Didi Global more than 8 billion yuan ($1.2 billion) following an investigation into the company’s cybersecurity practices. The probe found Didi violated China’s network security law, data security law and a law protecting personal information, the Cyberspace Administration of China said in a…
ROME (AP) — Italian Premier Mario Draghi resigned Thursday after key coalition allies boycotted a confidence vote, signaling the likelihood of an early election and a renewed period of uncertainty for Italy and Europe at a critical time. Draghi tendered his resignation to President Sergio Mattarella during a morning meeting at the Quirinale Palace. Mattarella,…
MOSCOW (Reuters) – Russian gold and silver producer Polymetal aims to ramp up sales to Asia, it said on Thursday as it reported second-quarter revenue down 36% at $433 million owing to sanctions-hit sales and rising stockpiles. London-listed Polymetal is considering disposing of its Russian assets to focus on operations in Kazakhstan in the face…
TOKYO (AP) — Japan’s trade deficit for the first half of this year totaled nearly 8 trillion yen ($58 billion), because of surging oil prices and a sinking yen, brought on partly by the war in Ukraine, and weaker global demand. The deficit for the period from January through June marked the second consecutive half-year…
