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EU leaders to ask Commission for gas price cap proposal -draft statement
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IKEA’s home deliveries will be fully electric by 2025 – CEO
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Spanish power provider Holaluz cuts gas sales as prices soar
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Where does the UK go from here to fix budget crisis?
Oil jumps more than $4 as OPEC+ weighs biggest output cut since 2020
Date: October 3, 2022
By Noah Browning LONDON (Reuters) -Oil prices jumped more than $4 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the COVID-19 pandemic. Brent crude futures were up $4.38, or 5.1%, to $89.52 a...
Nobel medicine prize goes to explorer of ancient DNA
Date: October 3, 2022
By Natalie Grover, Niklas Pollard and Johan Ahlander STOCKHOLM/LONDON (Reuters) -Swedish geneticist Svante Paabo won the 2022 Nobel Prize in Physiology or Medicine on Monday for discoveries that underpin our understanding of how modern day humans evolved from extinct ancestors. Paabo, director at the Max Planck Institute for Evolutionary Anthropology in Leipzig, Germany, won the...
Swiss central bank steps up policy tightening as sight deposits drop $78 billion
Date: October 3, 2022
By John Revill ZURICH (Reuters) – Overnight deposits held by the Swiss National Bank plunged by 77.5 billion Swiss francs ($78.32 billion) last week, their biggest ever weekly fall, the latest sign of the central bank’s switch to a more restrictive monetary policy. Sight deposits – commercial bank money held by the SNB – dropped...
Sterling edges higher after British government tax U-turn
Date: October 3, 2022
By Alun John and Iain Withers LONDON (Reuters) – The pound edged up on Monday on news Britain would reverse plans to cut the highest rate of income tax, one contentious part of a package of financial measures that last month sent sterling and British government bonds into meltdown. Yields on British government bonds fell,...
Credit Suisse bonds hit record lows
Date: October 3, 2022
LONDON (Reuters) – Euro-denominated bonds issued by Credit Suisse dropped to record lows on Monday, reflecting market concern about the Swiss bank as it finalises a restructuring programme due to be announced on Oct. 27. The embattled lender’s longer-dated bonds suffered the sharpest declines. The 2032 issue lost more than 7 cents to dip below...
Stocks, oil surge as Q4 kicks off
Date: October 3, 2022
By Dhara Ranasinghe and Pete Schroeder LONDON/WASHINGTON (Reuters) -The final quarter of the year got a boost Monday as U.S. stocks surged in early trading, shaking off a gloomier start in global markets while oil prices jumped over 5%. Oil prices rocketed upwards after the Organization of the Petroleum Exporting Countries and its allies, a...