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ECB, UniCredit clash over capital plans, Russia presence, FT says
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Twitter asks some laid off workers to come back, Bloomberg reports
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Rishi Sunak praises “far-sighted” King Charles on climate change
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Dollar sags, stocks rise after U.S. jobs temper rate expectations
Euro zone downturn deepens, points to winter recession
Date: November 4, 2022
By Jonathan Cable LONDON (Reuters) – The downturn in the euro zone economy has deepened as high inflation and fears of an intensifying energy crisis hit demand, adding to evidence the bloc is heading for a winter recession. A closely-watched survey showed euro zone October business activity contracted at the fastest pace since late 2020....
Fed and BoE dismantle sterling rate support :Mike Dolan
Date: November 4, 2022
By Mike Dolan LONDON (Reuters) -The U.S. Federal Reserve and the Bank of England sent two very clear signals to financial markets this week – don’t underestimate how high U.S. interest rates will go and don’t overstate peak UK rates. By design or not, the deliberately crafted messages opened another trapdoor under sterling by widening...
Euro zone downturn deepened in Oct, winter recession likely -PMI
Date: November 4, 2022
LONDON (Reuters) – Euro zone business activity contracted last month at the fastest pace since late 2020 as high inflation and fears of an intensifying energy crisis hit demand, according to a survey suggesting the bloc is heading for a winter recession. Inflation in the 19 countries using the euro surged more than expected last...
Shares in Monte dei Paschi plunge 14% after capital raise
Date: November 4, 2022
MILAN (Reuters) – Shares in Monte dei Paschi di Siena plunged 14% on Friday, triggering an automatic trading suspension, after the state-owned bank successfully completed a 2.5 billion euro ($2.4 billion) capital raise. Monte dei Paschi said late on Thursday its new share issue had been 96.3% subscribed, with underwriters taking up the remaining 93...
Britain launches scheme to pay homes to curb electricity use
Date: November 4, 2022
LONDON (Reuters) – Britain’s National Grid on Friday launched a scheme to pay homeowners and businesses to curb their electricity use when demand is high to help prevent blackouts over the winter. National Grid last month warned that Britain could face forced power cuts if it is unable to import enough electricity and gas this...
German industrial orders drop in Sept on foreign demand slump
Date: November 4, 2022
BERLIN (Reuters) – German industrial orders fell more than expected in September, weighed down by a sharp fall in foreign demand, data showed on Friday. New orders fell by 4.0% on the month on a seasonally and calendar adjusted basis, the Federal Statistics Office said. While domestic orders increased by 0.5%, foreign orders decreased by...