european-economies
Top StoriesEU Countries Can Use 225 Billion Euros of EU Loans for Energy Crisis
Top StoriesAnalysis-Pyrenees Pipeline Puts EU Energy Divisions in Stark Relief
Top StoriesBank Rally Pushes European Shares to Two-Week High
InvestingEuropean Shares Fall as Miners Tumble on Weak China Demand
Europe’s Alternatives if Russia Shuts Off Gas Supply
Date: September 7, 2022
(This September 2 story corrects to show Germany plans to build five LNG terminals not two) By Nina Chestney LONDON – The Nord Stream 1 pipeline that transports Russian gas to Germany will undergo further maintenance, Gazprom said on Friday after scrapping a Saturday deadline to resume flows, deepening Europe’s difficulties in securing fuel. Gazprom...
Europe Power Firms Need 1.5 Trillion Euros in Margin Calls, Equinor Says
Date: September 7, 2022
By Marwa Rashad LONDON (Reuters) -European energy companies need at least 1.5 trillion euros ($1.5 trillion) to cover the cost of their exposure to soaring gas prices, Norwegian energy group Equinor has estimated, and that does not include firms in Britain. Several European countries are providing billions of euros in support to power suppliers caught...
Germany Heading for Recession Despite New Relief Plan – Economists
Date: September 6, 2022
BERLIN (Reuters) – Germany, Europe’s largest economy, is still on course for a recession even with a new government plan to spend 65 billion euros ($64.49 billion) on shielding energy customers and businesses from soaring inflation, economists say. The latest package brings to 95 billion euros the amount allocated to inflation-busting since the Ukraine war...
Norway on Track for Record Gas Export, Will Be Ready for Winter -Gassco CEO
Date: September 5, 2022
By Nora Buli STAVANGER, Norway (Reuters) – Norway’s gas export system is set to deliver record volumes of energy to Europe and is committed to sending large amounts in the coming years, the head of pipeline system operator Gassco told Reuters. The Nordic country has become Europe’s biggest supplier of gas this year, according to...
European Shares End Five-Day Losing Streak, Still Down for the Week
Date: September 2, 2022
By Anisha Sircar and Shreyashi Sanyal (Reuters) – European stocks rose 2% on Friday, clocking gains for the first time in six days after key U.S. jobs data eased bets of a more aggressive Federal Reserve, but logged their third straight week of falls on concerns over a spike in energy prices. The pan-European STOXX...
Euro Zone Economy Faces Growing Risk of Recession, Survey Shows
Date: September 2, 2022
By Jonathan Cable LONDON (Reuters) – Manufacturing activity across the euro zone declined again last month as consumers feeling the pinch from a deepening cost of living crisis cut spending, a survey showed on Thursday, providing more evidence of the growing risk of recession. The downbeat survey comes just a week before the European Central...