(Reuters) – Financial stability risk in the European Union remains at a “severe” level and the downturn in the housing market could become even more broad-based, the bloc’s financial risk watchdog said on Thursday. High inflation, a drop in household’s disposable income, rapid rate hikes by the European Central Bank and notable bank failures overseas…
By Jesús Aguado and David Latona MADRID (Reuters) -The U.S. Federal Reserve is still monitoring the situation in the banking industry “very carefully” to address potential vulnerabilities, such as in the commercial real estate sector, Fed Chair Jerome Powell said on Thursday. “We are very reluctant to say” if the sector’s turmoil is over, Powell…
BERLIN (Reuters) – Inflation rose in five economically important German states in the month of June, preliminary data showed on Thursday, suggesting a bumpy road ahead for German inflation. The inflation rate rose to 6.2% in North-Rhine Westphalia and Bavaria, while rising to 6.7% in Brandenburg, 6.1% in Hesse and 6.9% in Baden-Wuerttemberg. In May,…
(Reuters) – The Russian rouble weakened past 87 against the dollar to a 15-month low on Thursday, hampered by domestic political risk concerns after an aborted mutiny over the weekend, with market uncertainty fuelling demand for safe-haven assets. By 0823 GMT, the rouble was 0.7% weaker against the dollar at 86.96 <RUBUTSTN=MCX> having hit 87.47,…
(Reuters) – Germany’s BMW will build its X3 model in South Africa from 2024, investing 4.2 billion rand ($225.09 million) to electrify its plant in Rosslyn, the company said in a statement on Thursday. “From 2024, we will produce the BMW X3 in South Africa as a plug-in hybrid and export it all over the…
(Corrects day in first paragraph to Thursday) (Reuters) – British cinema chain operator Cineworld Group said on Thursday that a U.S. court had approved its debt restructuring plan. The company, which filed for Chapter 11 protection in the U.S. last year, said it continued to expect to emerge out of bankruptcy in July. The proposed…
By John Irish, Arshad Mohammed and Parisa Hafezi PARIS/WASHINGTON/DUBAI (Reuters) -European diplomats have told Iran they plan to retain European Union ballistic missile sanctions set to expire in October under the defunct 2015 Iran nuclear deal, four sources said, a step that could provoke Iranian retaliation. The sources cited three reasons for keeping the sanctions:…
(Reuters) – Spain’s consumer prices rose 1.9% year-on-year in June, their slowest increase since March 2021, preliminary data from the National Statistics Institute (INE) showed on Thursday. Spain is the first among the euro zone’s large economies to have inflation fall below 2%, the European Central Bank’s target, the Economy Ministry said in a statement….
WARSAW (Reuters) – Poland expects the European Union to help it fund measures to strengthen its eastern border, a deputy minister said on Thursday, after Warsaw announced a tightening of security due to concerns over the presence of the Wagner group in Belarus. Russian President Vladimir Putin’s decision to offer troops from the private military…
(Reuters) -Mercenary chief Yevgeny Prigozhin has flown into exile in Belarus under a deal that ended a brief mutiny by his Wagner fighters in Russia, as President Vladimir Putin praised his own army for averting a civil war. Following are some facts about the businessman and founder of the Wagner Group. * With aggressive PR,…
