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Top StoriesFrench Debt Risk Premium Falls After Government Collapses
Top StoriesGerman Industrial Orders Fall 1.5% in October
BankingGlobal Billionaire Wealth Leaps, Fueled by US Gains, UBS Says
BankingDeutsche Bank CEO Says German Economy Needs ‘urgent’ Action
Euro Zone Business Activity Declines Sharply in November, PMI Shows
Date: December 4, 2024
LONDON (Reuters) – Business activity across the euro zone fell sharply last month as the bloc’s dominant services sector joined the manufacturing sector in contracting, according to a survey which showed a broadbased decline. HCOB’s final composite Purchasing Managers’ Index for the currency union, compiled by S&P Global and seen as a good gauge of...
UK Set for Faster Growth in 2025 but High Inflation Too, OECD Forecasts
Date: December 4, 2024
By Andy Bruce (Reuters) – The OECD on Wednesday bumped up its growth forecast for Britain’s economy next year, citing a surge in government spending that is also likely to push inflation to the top of the G7 charts. While the Paris-based Organisation for Economic Cooperation and Development trimmed its expectation for this year to...
Russian Services Sector Expands for Fifth Month Running, PMI Shows
Date: December 4, 2024
(Reuters) – Activity across Russia’s services sector expanded for a fifth month running in November and at its fastest pace since January, a business survey showed on Wednesday, driven by a rise in new orders. The S&P Global Purchasing Managers’ Index for Russian services rose to 53.2 in November from 51.6 in October, moving further...
Banks Boost Stoxx 600 to Month High, France’s Political Turmoil in Focus
Date: December 3, 2024
By Joao Manuel Vicente Mauricio and Ankika Biswas (Reuters) –Bank shares steered Europe’s STOXX 600 index to a near one-month high on Tuesday, while investors kept a close watch on France’s political turmoil as the likelihood of the government’s collapse sent shockwaves through its markets. The pan-European STOXX 600 rose 0.6% as of 0930 GMT,...
Exclusive-Top Russian Banker Says Sanctions-Hit Economy Will Slow in 2025
Date: December 2, 2024
By Elena Fabrichnaya and Gleb Bryanski MOSCOW (Reuters) -Russia’s sanctions-hit, militarized economy is expected to slow next year and banks’ profits will fall, while the benchmark interest rate may climb to 23% by the end of this year, Andrei Kostin, CEO of Russia’s second-largest lender, VTB, said. Kostin predicted that GDP growth will slow to...
Budget Woes Push French Borrowing Costs Above Crisis-Scarred Greece
Date: December 2, 2024
By Harry Robertson LONDON (Reuters) -French borrowing costs rose above those of Greece on Monday for the first time, as Michel Barnier’s government teetered on the brink of collapse, underlining a dramatic shift in how lenders view the creditworthiness of euro zone members. The far-right National Rally (RN) party on Monday said it was ready...