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Interest rate and recession fears knock stocks and oil
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Dutch to spend $16 billion to cushion effects of inflation -media
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High inflation, recession risk widen ECB dilemma
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Turkey’s economy grew 7.6% in Q2 driven by domestic demand, exports
German bonds set for worst month in decades as inflation hits new highs
Date: August 31, 2022
By Dhara Ranasinghe LONDON (Reuters) – Germany’s borrowing costs rose to their highest level in over two months on Wednesday, and were set to end August with their biggest monthly surge in over 30 years, as data showed inflation in the euro area hitting another record high. Bond markets across Europe have been battered this...
UK energy bill help won’t lower inflation, statisticians rule
Date: August 31, 2022
By Andy Bruce LONDON (Reuters) -British government energy bill rebates for households cannot be viewed as lowering inflation, official statisticians said on Wednesday, ruling out the possibility of a modest reduction to rates of price growth that are running at 40-year highs. Economists and bond investors had been looking closely at whether statisticians would classify...
EU to restrict travel rules for Russians, split on how far to go
Date: August 31, 2022
By Sabine Siebold and Robert Muller PRAGUE (Reuters) -The EU’s foreign policy chief on Wednesday urged bickering nations to settle their differences on restricting travel for Russian citizens, saying Europe must remain united vis-a-vis Moscow six months after the invasion of Ukraine. Josep Borrell made his warning as foreign ministers of the European Union gathered...
Foreign business travel missing ingredient for Irish hotel recovery – Dalata
Date: August 31, 2022
By Padraic Halpin DUBLIN (Reuters) – Executives at Ireland’s large hub of multinational companies are still only going on a small fraction of the foreign business trips they made before the COVID-19 pandemic, the head of the country’s largest hotel operator said. Dalata Hotel Group, which has the Maldron and Clayton brands, said on Wednesday...
Toyota Motor to invest $5.3 billion in Japan, U.S. for EV battery supply
Date: August 31, 2022
(Reuters) -Toyota Motor Corp said on Wednesday it would invest up to 730 billion yen ($5.27 billion) in Japan and the United States to make batteries for fully electric vehicles, a category of automobile that critics say it has been slow to embrace. When the additional facilities come on line between 2024 and 2026, Toyota’s...
Near 50-year high German inflation strengthens case for larger ECB rate rise
Date: August 30, 2022
BERLIN (Reuters) -German inflation rose to its highest level in almost 50 years in August, beating a high set only three months earlier, data showed, strengthening the case for the European Central Bank to go for a larger basis-point interest rate increase next month. Consumer prices, harmonised to make them comparable with inflation data from...