By William Schomberg LONDON (Reuters) – The Bank of England (BoE) is poised to raise borrowing costs for the 12th meeting in a row on Thursday, as it tries to tackle stubbornly high inflation that stands at double the level of the United States and much higher than in the euro zone too. Investors are…
By David Shepardson WASHINGTON (Reuters) – The largest U.S. oil and gas trade lobby group said on Wednesday it believes sharp emissions cuts proposed by the U.S. Environmental Protection Agency (EPA) would result in the elimination of new internal combustion vehicles. But a California air regulator said the EPA plan “will benefit the climate, air…
LONDON (Reuters) – Bank of America has hired former BNP Paribas banker Benoit Nevouet to be the manager of a newly created Luxembourg branch as the U.S. lender seeks to grow its business in Europe, a senior executive at Bank of America told Reuters. The opening of a branch in the small but wealthy country…
By Foo Yun Chee and Ilona Wissenbach BRUSSELS (Reuters) – Lufthansa suffered a setback on Wednesday after Europe’s second-highest court sided with Ryanair and annulled a European Union competition regulator’s decision clearing its state bailout. The court cited errors in the EU competition regulators’ decision to approve the German government’s 6-billion-euro ($6.60 billion) rescue package…
By Herbert Lash NEW YORK (Reuters) – A gauge of global stock markets rose and bond yields slid on Wednesday after data showed U.S. consumer prices in April rose at a slightly slower-than-expected pace, suggesting the Federal Reserve is succeeding in taming high inflation. The Consumer Price Index rose 0.4% after rising 0.1% in March,…
By Laura Matthews NEW YORK (Reuters) – The dollar remained stable against a basket of currencies on Wednesday as data showed inflation slowed slightly more than expected last month but gave traders little clarity on the U.S. monetary policy outlook. A U.S. Labor Department report on Wednesday showed the annual increase in consumer prices dipped…
BRUSSELS (Reuters) – The European Union’s top competition official on Wednesday said “all options” were on the table but did not indicate what her next steps could be after Lufthansa and SAS suffered a setback in Europe’s second-highest court. The court sided with Ryanair in annulling the EU’s decision clearing the German government’s 6-billion-euro ($6.6…
By David Brunnstrom and Michael Martina WASHINGTON (Reuters) – The British son of jailed Hong Kong media tycoon Jimmy Lai and a leading Catholic U.S. congressman criticized Britain and the Vatican on Wednesday for failing to speak out strongly against the crackdown on dissent in the Chinese territory. At a Washington event about the human…
PARIS (Reuters) – The European Central Bank has travelled most of the way in its campaign to raise interest rates, French ECB policymaker Francois Villeroy de Galhau said on Wednesday, adding that further rate hikes would be “more marginal”. “What remains to be done is more marginal,” Villeroy told newspaper group EBRA. “It is the…
By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators are set to approve Microsoft Corp’s $69 billion acquisition of Activision next week, with May 15 as the likeliest date, people familiar with the matter said. The European Commission’s imminent clearance comes nearly three weeks after the UK competition authority blocked the deal, the biggest-ever…
