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Greg Hands appointed as UK junior trade minister
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The power of behavioural science in a diverse world
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BP looks to North Sea, U.S. shale for near-term oil and gas boost
UK will not urge public to cut energy use, minister says
Date: October 7, 2022
By Muvija M LONDON (Reuters) -Britain is not asking people to use less energy, climate minister Graham Stuart said on Friday, despite a warning from the National Grid that homes and businesses could face three-hour planned blackouts this winter. The approach taken by Britain is at odds with the European Union where countries have agreed...
Risk-averse investors pile into cash at fastest rate since April 2020
Date: October 7, 2022
LONDON (Reuters) – Investors piled into cash at the fastest weekly rate since April 2020 in the week to Wednesday, as soaring government borrowing costs, high energy prices and slowing growth fanned risk aversion, BofA Global Research said in a note on Friday. Investors ploughed $88.8 billion into cash, BofA said, citing EPFR data, and...
Global outflows continue from bond and equity funds for a seventh week
Date: October 7, 2022
(Reuters) – Global bond and equity funds witnessed money withdrawals for a seventh straight week in the week ended Oct. 5 as the prospects of higher oil prices and continued interest rate hikes by the Federal Reserve weighed on sentiment. Investors exited a net $16.33 billion worth of global bond funds and about $8 billion...
German retail sales, industrial output fall as inflation tightens grip
Date: October 7, 2022
BERLIN (Reuters) – Data on Friday showed inflation’s tightening stranglehold on the German economy, with a surge in import prices and falls in industrial output and retail sales adding to signs that Europe’s biggest economy is heading for recession. Import prices for energy were up 162.4% in August compared with the same month in 2021,...
Euro zone demand surge playing increasing role in excessive inflation: ECB
Date: October 7, 2022
FRANKFURT (Reuters) – Surging consumer demand across the euro zone is playing an increasing role in excessive inflation, a European Central Bank study showed on Friday, suggesting that – as some policymakers have feared – price pressures are becoming more entrenched. Inflation, running at a record high of 10%, was initially driven by surging energy...
Miners drag FTSE 100 lower ahead of U.S. jobs data
Date: October 7, 2022
By Johann M Cherian (Reuters) – London’s FTSE 100 index slipped on Friday as cautious investors awaited a key U.S. jobs report due later in the day, although UK’s main stock indexes were set to snap a three-week losing streak and post weekly gains. The FTSE 100 edged 0.2% lower, while the mid-cap FTSE 250...