Economic news


Italy's Economy Contracts in Q4, Raising Recession Fears

Italy's Economy Contracts in Q4, Raising Recession Fears

Italy's economy shrank by 0.1% in the fourth quarter of last year from the previous three months, preliminary data showed on Tuesday, a slightly smaller contraction than expected but still raising fears of recession. On a year-on-year basis, fourth quarter gross domestic product in the euro z...


January 31, 2023
Dutch Telecom KPN Seeks Energy Savings as it Locks in 2023 Goals
Dutch Telecom KPN Seeks Energy Savings as it Locks in 2023 Goals

KPN will keep a close eye on energy usage this year partly by modernising its network, its finance chief said, as the Dutch telecoms company...

Dollar Pares Gains on Falling U.S. Labor Costs, before Fed Decision
Dollar Pares Gains on Falling U.S. Labor Costs, before Fed Decision

The dollar gave up gains made earlier on Tuesday after data showed U.S. labor costs increased less than expected in the fourth quarter, and before...

World Stocks Waver as Investors Catch Central Bank Jitters
World Stocks Waver as Investors Catch Central Bank Jitters

World stocks stumbled and bond yields edged lower on Tuesday as hotter than anticipated European inflation numbers jangled investor nerves ahead of...

Sterling Slips ahead of BoE Meeting, IMF Cuts UK Growth Forecast
Sterling Slips ahead of BoE Meeting, IMF Cuts UK Growth Forecast

Sterling slipped to a one week low against the U.S. dollar on Tuesday, ahead of the Bank of England's expected 10th consecutive interest rate...

German Unemployment Rate Remains Stable at 5.5% in January
German Unemployment Rate Remains Stable at 5.5% in January

Germany's unemployment rate remained stable in January, Labour Office figures showed on Tuesday. The Federal Labour Office said the number of...

Euro Zone Banks Tighten Credit by most since Debt Crisis
Euro Zone Banks Tighten Credit by most since Debt Crisis

Euro zone banks have tightened companies' access to credit by the most since the 2011 debt crisis and expect to continue doing so as they turn...

IMF Warning Knocks UK Stocks Lower; Pets At Home Jumps on Forecast Hike
IMF Warning Knocks UK Stocks Lower; Pets At Home Jumps on Forecast Hike

The UK's main stock indexes slipped on Tuesday, as investors braced for a series of interest rate hikes from major central banks this week,...

China's EV Giant BYD in Talks to Acquire Insurer Yi'an
China's EV Giant BYD in Talks to Acquire Insurer Yi'an

Chinese electric vehicle (EV) giant BYD said on Tuesday it is working on a potential acquisition of Yi'an P&C Insurance Co, an insurer that...

Gold Slips ahead of Fed, but on Pace for Third Monthly Gain
Gold Slips ahead of Fed, but on Pace for Third Monthly Gain

Gold prices eased on Tuesday, but were en route to their third straight monthly gain, as market participants awaited the U.S. Federal Reserve...

German Retail Sales Post Shock Fall in December
German Retail Sales Post Shock Fall in December

German retail sales unexpectedly fell in December, as a Christmas shopping period weighed down by high inflation and the energy crisis revived...

Oil Slips on Rate Hike Worries, Russian Export Flows
Oil Slips on Rate Hike Worries, Russian Export Flows

Oil prices fell on Tuesday as the threat of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations...

Europe's Luxury Stocks have Room to Rise, Becoming Costly
Europe's Luxury Stocks have Room to Rise, Becoming Costly

Europe's glittering luxury companies, the region's top stock-market performers in 2023, may see yet more gains driven by a rebound in...

UniCredit Hikes Payout Goal by 40% after Record Profit
UniCredit Hikes Payout Goal by 40% after Record Profit

UniCredit pledged on Tuesday to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results, further hiking one of the...

Asian Stocks Edge Down as Investors Eye Central Bank Hikes
Asian Stocks Edge Down as Investors Eye Central Bank Hikes

Asian shares edged down and bonds nursed small losses on Tuesday as investors braced for an eventful week that will include central bank meetings,...

Stocks Fall, U.S. Yields Climb as Central Bank Hikes Awaited
Stocks Fall, U.S. Yields Climb as Central Bank Hikes Awaited

A gauge of global stocks retreated on Monday after six sessions of gains while U.S. Treasury yields rose ahead of central bank policy announcements...

Australia Dec Retail Spending Nosedives in Warning for Economy
Australia Dec Retail Spending Nosedives in Warning for Economy

Australian retail sales recorded the biggest drop in more than two years in December, as rising borrowing costs and sky-high inflation finally sank...

January 30, 2023
Europe Stocks Slip as Hot Spanish Inflation Data Fans Rate Hike Concerns
Europe Stocks Slip as Hot Spanish Inflation Data Fans Rate Hike Concerns

European shares slipped on Monday as hotter-than-expected inflation data from Spain added to market jitters as investors brace for a slew of...

Crucial Euro Zone Inflation Data will only Include Estimate for Germany
Crucial Euro Zone Inflation Data will only Include Estimate for Germany

Crucial euro zone inflation data due a day before the European Central Bank's Thursday meeting will only include an estimate for Germany after...

Chinese EV Giant BYD Set for Surge in 2022 Profit as Sales Jump
Chinese EV Giant BYD Set for Surge in 2022 Profit as Sales Jump

China's BYD Co , the world's biggest seller of battery electric vehicles (BEVs) and plug-in hybrids, expects its 2022 net profit to be more...

Euro Zone Economic Sentiment Rises in January to 7-mth High
Euro Zone Economic Sentiment Rises in January to 7-mth High

Euro zone economic sentiment rose to a seven-month high in January on more optimism across all sectors except construction, with inflation...

German Industry to Pay 40% more for Energy than Pre-Crisis
German Industry to Pay 40% more for Energy than Pre-Crisis

German industry is set to pay about 40% more for energy in 2023 than in 2021, before the energy crisis triggered by Russia's invasion of...

Sterling Steadies vs Dollar ahead of BoE, ECB Meetings
Sterling Steadies vs Dollar ahead of BoE, ECB Meetings

Sterling edged lower against the U.S. dollar on Monday ahead of a number of central bank meetings this week including the Bank of England's,...

Italy's Post Office Invests $1.3 bln to Refurbish Branches
Italy's Post Office Invests $1.3 bln to Refurbish Branches

Italy's post office Poste Italiane plans to invest 1.2 billion euros ($1.3 billion) of mostly public money to renovate 7,000 outlets...

Euro Rises after Spanish CPI, Dollar Slips Towards 8-mth Low
Euro Rises after Spanish CPI, Dollar Slips Towards 8-mth Low

The euro rose on Monday after unexpectedly high Spanish inflation data raised expectations for a higher euro area print on Wednesday, while the...

Britain to Shake Up Private Pensions with Value for Money Test
Britain to Shake Up Private Pensions with Value for Money Test

Britain said on Monday it will launch a public consultation on new rules requiring higher disclosure standards from private pensions schemes to...

Tech Stocks Lead Losses in Europe on Rate Decision Jitters
Tech Stocks Lead Losses in Europe on Rate Decision Jitters

European shares fell on Monday, as cautious investors anticipated a slew of interest rate hikes by prominent central banks this week, with shares...

Oil Steadies as Rate Hikes Loom, Russian Flows Stay Strong
Oil Steadies as Rate Hikes Loom, Russian Flows Stay Strong

Oil steadied on Monday as looming interest rate hikes by major central banks and signs of strong Russian exports balanced rising Middle East...

German Economy Unexpectedly Shrinks in Q4, Reviving Spectre of Recession
German Economy Unexpectedly Shrinks in Q4, Reviving Spectre of Recession

The German economy unexpectedly shrank in the fourth quarter, data showed on Monday, a sign that Europe's largest economy may be entering a...

UK Stocks Slip ahead of C.Bank Meetings, Unilever Up
UK Stocks Slip ahead of C.Bank Meetings, Unilever Up

UK stocks slipped on Monday as investors refrained from making risky bets ahead of key central bank decisions this week, while gains in Unilever...

Philips to Cut 13% of Jobs in Safety and Profitability Drive
Philips to Cut 13% of Jobs in Safety and Profitability Drive

Dutch health technology company Philips will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the...

Commerzbank Meets Important Criteria for DAX Membership
Commerzbank Meets Important Criteria for DAX Membership

Germany's Commerzbank said on Monday that it met an important profit criteria to join Germany's benchmark DAX index of blue-chip...

Importers, Custodial Banks Pull Rupee Down; Asian Peers Inch Up
Importers, Custodial Banks Pull Rupee Down; Asian Peers Inch Up

The Indian rupee, unlike its Asian peers, declined against the U.S. currency on Monday on dollar demand from foreign banks and importers, according...

Pakistan Lifts Petrol, Diesel Prices by 35 Rupees a Litre
Pakistan Lifts Petrol, Diesel Prices by 35 Rupees a Litre

Pakistan's ministry of finance announced on Sunday petrol and diesel prices would rise by 35 rupees ($0.1400) a litre after the country's...

Toyota Defends Title, World's Top-Selling Automaker in 2022
Toyota Defends Title, World's Top-Selling Automaker in 2022

Toyota Motor Corp sold 10.5 million vehicles in 2022, it said on Monday, defending its title as the world's top-selling automaker for a...

January 27, 2023
Costcutter Owner Bestway Buys Sainsbury's Stake
Costcutter Owner Bestway Buys Sainsbury's Stake

Retail group Bestway, the owner of Costcutter, has built a 3.45% stake in Sainsbury's, describing the move as an investment and not a step...

Pound Edges Down, but Still Close to Recent Highs vs Dollar
Pound Edges Down, but Still Close to Recent Highs vs Dollar

Sterling edged lower on Friday but was not far from its highest level in over seven months against the dollar. Investors expect the British...

Dollar Ticks Up ahead of Central Bank Meetings next Week
Dollar Ticks Up ahead of Central Bank Meetings next Week

The dollar edged up on Friday to pull away from multi-month lows against the euro and sterling, as investors began to train their sights on a slew...

Rising Interest Rates have Sting in Tail for Europe's Banks
Rising Interest Rates have Sting in Tail for Europe's Banks

Rising borrowing costs are giving a long-awaited lift to Europe's beleaguered banks, but they come with a sting in the tail. Last year...

Fashion Retailer H&M's Profit Tumbles as Costs Bite
Fashion Retailer H&M's Profit Tumbles as Costs Bite

Sweden's H&M reported on Friday a much larger than expected drop in September-November profit, hit by weak consumer confidence and...

FTSE 100 Flat as Investors await Rate Decisions; Sainsbury's Jumps
FTSE 100 Flat as Investors await Rate Decisions; Sainsbury's Jumps

UK's FTSE 100 was flat on Friday as jitters grew ahead of a slate of central bank decisions next week, although shares of Sainsbury's...

European Shares Muted ahead of CB Meetings; LVMH, H&M Slide
European Shares Muted ahead of CB Meetings; LVMH, H&M Slide

European shares were muted on Friday as investors refrained from placing aggressive bets ahead of a slew of central bank meetings next week, while...

LVMH Shares Lose Recent Lustre as China Takes Margin Toll
LVMH Shares Lose Recent Lustre as China Takes Margin Toll

LVMH shares, which hit a record high earlier this month, fell on Friday as some analysts aired disappointment at the company's margins,...


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