FRANKFURT, June 15 (Reuters) – The European Central Bank raised its key interest by 25 basis points on Thursday to 3.5% and left the door open to more hikes, extending its fight against high inflation even as the euro zone economy flags. Following are highlights of ECB President Christine Lagarde’s comments at a news conference…
LONDON (Reuters) -The European Central Bank raised interest rates for the eighth successive time, as expected, on Thursday and signalled further policy tightening, as it battles high inflation. The central bank for the 20 countries that share the euro also said it expected inflation to stay above its 2% target through 2025 and hinted once…
By Mayela Armas, Corina Pons and Rodrigo Campos CARACAS/MADRID/NEW YORK (Reuters) – Small funds and investors outside the United States are looking to increase their exposure to Venezuelan bonds, on the expectation of debt renegotiations or of legal action tied to a looming expiry of repayment rights, investors and four financial sector sources said. Many…
(Reuters) – Odey Asset Management (OAM) is fighting for survival after a media report alleging sexual misconduct by its founder Crispin Odey, one of Britain’s best-known hedge fund managers, prompted its banks and investors sever ties with the firm. OAM said in a letter dated Thursday, and seen by Reuters, that it is in “advanced…
AMSTERDAM (Reuters) – Uber said on Thursday it will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share. The moves were “in line with our efforts to focus on markets where we have opportunities for sustainable growth”, a company spokesperson said. CEO Dara Khosrowshahi has said…
By Joseph White DETROIT (Reuters) – The venture capital arm of automaker Stellantis said on Thursday it will invest about 100 million euros ($108.3 million) in automotive and battery technology startups and a mobility venture fund. Stellantis Ventures, created last year with 300 million euros of initial capital, will put money in ten startups ranging…
A look at the day ahead in U.S. and global markets from Dhara Ranasinghe. A day after the Federal Reserve took markets by surprise with a hawkish message, it’s the European Central Bank’s turn in the hot seat. Short-dated government bond yields in the United States and Europe are heading back up and bullish stock…
By Lucy Raitano LONDON (Reuters) – Investors are turning their attention back to European small and mid-cap stocks as low valuations spark long-term interest even as the immediate economic outlook remains gloomy. Europe’s smaller companies have seen relative valuations sink as concerns about an economic slowdown have favoured defensives over cyclicals, while banking turmoil stoked…
Siemens’ 2 billion-euro ($2.17 billion) investment plan, announced on Thursday, is more than double the company’s cumulative investment spending over the past two years and will create over a thousand jobs, CEO Roland Busch told Reuters. The head of the German engineering giant, which said it will build new factories, research and development centers and…
By Renju Jose SYDNEY (Reuters) -Australia said on Thursday it would introduce legislation to parliament to cancel Russia’s lease to build a new embassy in the national capital of Canberra, citing national security. The move follows the conclusion of a long-running litigation regarding the leased site after the federal court ruled last month that an…
