By Mike Dolan LONDON (Reuters) -After a torrid 2022 for its stock prices, it seems Big Tech can do no wrong again this year. The eye-popping outperformance of the U.S. digital and technology giants this year helps explain the slightly puzzling levity of stock markets amid all the recession handwringing – not least because these…
(Reuters) – Russian Colonel General Mikhail Mizintsev, who was sanctioned by the West and dubbed the “Butcher of Mariupol” for his role in the Ukraine war, has been removed as deputy defence minister, according to a military blogger and a leading news website. Mizintsev orchestrated the siege of the Ukrainian city of Mariupol in the…
By Jan Strupczewski STOCKHOLM (Reuters) -The International Monetary Fund called on the European Central Bank on Friday to keep raising interest rates until the middle of 2024 and on European Union finance ministers to tighten fiscal policy in concerted action to bring down high inflation. The head of the IMF’s European Department Alfred Kammer said…
By John Revill ZURICH (Reuters) – The Swiss National Bank is facing calls for an overhaul in its governance, with critics saying too much power lies in the hands of its chairman Thomas Jordan and that more transparency is needed. The SNB played a major role in the state-sponsored rescue of Credit Suisse making 250…
BRUSSELS (Reuters) – The euro zone grew only marginally in the first three months of 2023 and at a rate lower than market expectations after stagnation at the end of last year, preliminary data showed on Friday. Gross domestic product in the euro zone expanded by 0.1% in the first quarter, below expectations in a…
BERN (Reuters) – Swiss banking regulation and supervision must be reviewed following the collapse of Credit Suisse, Swiss National Bank Chairman Thomas Jordan said on Friday, although he warned against “quick fixes.” The central bank played a key role in the state-engineered rescue of Credit Suisse, making 250 billion francs of emergency liquidity available to…
By Maria Martinez BERLIN (Reuters) -The German economy stagnated in the first quarter, as a decline in government and household consumption was balanced out by an increase in exports and capital investment, data showed on Friday. Gross domestic product was unchanged quarter on quarter in adjusted terms, the federal statistics office said. A Reuters poll…
TAIPEI (Reuters) -A Chinese uncrewed combat aircraft has flown around Taiwan, the island’s defence ministry said, showcasing Beijing’s ability to attack its fall-back east coast bases, as a U.S. maritime patrol aircraft transited the Taiwan Strait. China, which views democratically governed Taiwan as its own territory, has increased military pressure on the island over the…
By Geert De Clercq PARIS (Reuters) -The French economy grew slightly in the first quarter, despite a series of strikes against the government’s pension reform bill, but inflation remained stubbornly high, rising to nearly six percent in April. Statistics agency INSEE data showed GDP edging up 0.2% in Q1, in line with expectations, after a…
STOCKHOLM (Reuters) – Euro zone bank regulators should consider tweaking a raft of rules, from how much cash banks should hold to how failing institutions are resolved, in order to protect the financial system, two leading European Central Bank policymakers said. The 20-nation currency bloc’s lenders fared well in last month’s banking turmoil but some…
