By Huw Jones LONDON (Reuters) -The European Union’s 19 trillion euro ($21.6 trillion)investment funds industry is failing to exploit the bloc’s single market, saddling investors with high costs and opaque selling practices, the European Court of Auditors said in a critical report on Monday. A full review of EU investment fund rules is needed by…
NEW YORK (AP) — Former President Donald Trump’s social media app that he hopes will rival Twitter launched Monday as he seeks a new digital stage to rally his supporters and fight Big Tech limits on speech, a year after he was banned from Twitter, Facebook and YouTube. His Truth Social app was offered for…
WASHINGTON (AP) — Federal Reserve Governor Michelle Bowman said Monday that she was open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March. Bowman’s comments came after several officials on Friday pushed back against the idea of a half-point increase in the Fed’s benchmark short-term interest…
(Reuters) – It is too early to know if the Federal Reserve will need to start its tightening cycle at its next policy meeting in March with a half percentage point rate rise, Fed Governor Michelle Bowman said on Monday, as she pointed to upcoming data as the deciding factor. “Between now and then it’s…
By Jonathan Cable LONDON (Reuters) -The euro zone economic recovery regained momentum this month as an easing of coronavirus restrictions gave a boost to the bloc’s dominant service industry, a survey showed, but consumers faced prices rising at a record rate. As the Omicron coronavirus variant swept across Europe some governments reimposed measures to contain…
BRUSSELS (Reuters) -The main political grouping in the European Parliament called on Monday for a review of Switzerland’s banking practices and for the country’s possible inclusion in the EU’s dirty-money blacklist after leaks of Credit Suisse documents. Media outlets published the results of investigations into a leak of data on thousands of accounts held at…
BERLIN (AP) — German officials condemned protests Monday by climate activists who blocked roads including near the country’s biggest port. Members of the group Uprising of the Last Generation glued themselves to roads in Stuttgart, Freiburg and near the port of Hamburg to demand an end to food waste. The group argues that throwing away…
By Noah Browning LONDON (Reuters) -Oil prices rose on Monday as tensions between Russia and the West ratcheted up, adding to supply concerns that have kept oil prices near $100 a barrel. Brent crude futures jumped $1.23, or 1.3%, to $94.77 a barrel by 1300 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.13,…
BEIJING (Reuters) – Luxshare Precision Industry Co Ltd, an Apple Inc supplier, said on Monday it aims to raise up to 13.5 billion yuan ($2.13 billion) to fund six projects, including building a production line for wearable devices. The company plans to issue up to 2.1 billion shares to up to 35 investors at a…
By Victoria Waldersee and Ilona Wissenbach BERLIN (Reuters) -Mercedes-Benz expects to have factories producing exclusively electric vehicles (EVs) by the second half of the decade but will steer clear of building EV-only plants, instead keeping production lines flexible in line with market demand. The carmaker foresees some of its production lines within factories switching fully…
