BERLIN (AP) — German Chancellor Olaf Scholz said Wednesday he wants to join employers and labor unions in a “concerted action” to find ways of cushioning the effects of rising prices while preventing a spiral of inflation in Europe’s biggest economy. Germany, like other countries in Europe and beyond, already has seen inflation accelerate sharply…
By Tom Wilson and Tom Westbrook LONDON/SINGAPORE (Reuters) – European stocks made slim gains on Wednesday, with the dollar strengthening as investors fretted over soaring inflation and the hit on global growth from looming interest rate rises. Europe’s STOXX 600 index added 0.3%, with bourses in London and Paris climbing 0.2% and 0.4% respectively. Banks…
By Susan Mathew (Reuters) -European shares gave up early gains on Wednesday as weak German retail sales and slowing factory activity in the euro zone fanned worries about economic growth amid record high inflation. The pan-European STOXX 600 index was down 0.3%, after gaining as much as 0.4% in early trading. The benchmark shed 1.6%…
(Correct second paragraph to say Fidelity Digital Assets plans to fill 210 new positions, and not 110 as previously reported) (Reuters) -Fidelity Investments’ digital assets arm will double down on hiring this year as it looks to beef up its resources to serve clients who want to invest in crypto assets that trade round the…
BERLIN (Reuters) – Tesla works at twice the industry pace in many processes but still needs to ramp up highly complex factories and find qualified workers to win the electric vehicle race, Volkswagen’s chief executive said on Wednesday. The U.S. carmaker, posing a challenge to German electric vehicle production with its new plant near Berlin,…
BERLIN (AP) — Deutsche Bank subsidiary DWS said Wednesday that its chief executive is resigning, hours after authorities raided its offices as part of a probe into claims that the company exaggerated the sustainable credentials of some of the financial products. CEO Asoka Woehrmann is set to step down after the company’s annual general meeting…
(Reuters) – Russian gas producer Gazprom has cut off gas supplies to Denmark’s Orsted and to Shell Energy for its contract to supply gas to Germany, it said on Wednesday, citing the companies’ failure to make payments in roubles. Gazprom has already halted supplies to Dutch gas trader GasTerra, as well as to Bulgaria, Poland…
MILAN (AP) — Even as the European Union decided to reduce Russian crude oil imports by 90% by the end of the year, Italy has become the only country in Europe to increase them, an unintended consequence of EU sanctions against Russia. Meant to punish Russia for invading Ukraine, the EU oil embargo is now…
A look at the day ahead in markets from Sujata Rao. From Wednesday, the U.S Federal Reserve starts allowing the bonds it holds to mature, and will no longer replace them — so called quantitative tightening (QT). Its aim is to allow $95 billion to roll off its balance sheet per month but it will…
(Reuters) -Britain’s competition watchdog said on Wednesday it had started investigating BT Group’s deal to combine its sports broadcasting business with Warner Bros Discovery. The Competition and Markets Authority (CMA) said it had until July 28 to make its phase 1 decision on whether the joint venture between the country’s biggest broadband and mobile provider…
