gdp
BusinessEuro Zone Business Activity Falls Sharply in November, Survey Shows
InvestingEuro Falls to Two-Year Low After PMI Data Plunges
BusinessUK Retail Sales Dived Before New Government’s Budget, Ons Says
Top StoriesGerman Economy Grew Less Than Expected in Q3, Statistics Office Says
Trade War Could Leave Europe in Recession With High Inflation, ECB Policymaker Warns
Date: November 21, 2024
NICOSIA (Reuters) – Europe will suffer in case of a fresh trade war with the United States, and could face a recession coupled with high inflation, Cypriot central bank Governor Christodoulos Patsalides said on Thursday. Incoming U.S. President Donald Trump promised to impose tariffs on most imports and said Europe would pay a big price...
UBS Flags ‘sluggish’ Europe Growth as It Takes $170 Million Credit Hit
Date: November 21, 2024
By Dave Graham and Oliver Hirt ZURICH (Reuters) – UBS has seen weak European growth hit companies it lends to, CFO Todd Tuckner said on Thursday, with the bank facing a 2024 credit loss expense of some 150 million Swiss francs ($170 million) in its personal and corporate banking business. Tuckner’s remarks came as he...
UK to Scrap Royal Navy Ships, Retire Helicopters to Save $633 Million
Date: November 21, 2024
LONDON (Reuters) -British defence minister John Healey said on Wednesday he would free up 500 million pounds ($633 million) for military budgets over five years by scrapping a number of Royal Navy ships, decommissioning a drone system and retiring some helicopters. “These will not be the last difficult decisions I will have to make,” Healey...
Germany Faces High Corporate Default Risk in 2025, Bundesbank Says
Date: November 21, 2024
FRANKFURT (Reuters) – Germany’s economy is facing deep and profound challenges that could push up corporate insolvencies, keeping default risk elevated next year, the Bundesbank said in a Financial Stability Report on Thursday. Germany’s economy has been skirting a recession for most of the past year as weak export demand, surging energy costs and rising...
Insolvencies in Germany up 22.9% Year-On-Year in October
Date: November 21, 2024
BERLIN (Reuters) – The number of insolvencies in Germany rose by 22.9% in October on the previous year, the country’s statistics office Destatis said on Thursday. This means that with the exception of June 2024, the number of involvencies has seen double-digit monthly increases since June 2023, Destatis said. Collapsing demand from Germany and abroad,...
German Tax Revenue Rose by 8.2% in October, Finance Ministry Says
Date: November 21, 2024
By Maria Martinez BERLIN (Reuters) – Germany’s federal and state governments’ tax revenue rose 8.2% in October compared with the same month last year, the finance ministry said in its monthly report on Thursday, reaching a total of 60.9 billion euros ($64.11 billion). Despite some volatility in revenue levels, the positive trend has persisted in...