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FinanceWeekly Economic Update: Economics Trumps Politics
Top StoriesMarket Value Alone Is Selling Nature Short, Governments Told
Top StoriesEuro Flirts With Parity as Russian Gas Link Enters Planned Shutdown
Top StoriesEuro Zone to Focus on Inflation as Economic Outlook Forecast to Worsen
Pound Eyes 2-year Lows as Race for Next British Prime Minister Heats Up
Date: July 11, 2022
LONDON (Reuters) – The British pound held near a two-year low on Monday as traders held their breath before a leadership contest kicks off to determine the successor of Boris Johnson as Britain’s next Prime Minister. Johnson’s resignation deepens the uncertainty hanging over Britain’s economy, already under strain from an inflation rate heading for double...
FTSE 100 Down as China Covid Worries Weigh on Miners
Date: July 11, 2022
(Reuters) -UK stocks fell on Monday as worries about fresh COVID-19 curbs in China and the energy crisis in Europe hurt sentiment, with investors awaiting earnings reports for clues on corporate health. The blue-chip FTSE 100 fell 1% and the domestically focussed FTSE 250 index slid 0.6% after marking weekly gains on Friday. Mining majors...
Shanghai Plans More Covid Testing Amid Fresh Curbs Across China
Date: July 11, 2022
By Roxanne Liu and Ryan Woo BEIJING (Reuters) -Multiple Chinese cities are adopting fresh COVID-19 curbs, from business halts to lockdowns, to rein in new infections, with the commercial hub of Shanghai bracing for another mass testing effort after finding a highly-transmissible Omicron subvariant. The tough curbs by local governments follow China’s “dynamic zero-COVID” policy...
Stocks Dip, Oil Climbs in Wake of Strong U.S. Jobs Report
Date: July 8, 2022
By Pete Schroeder and Elizabeth Howcroft WASHINGTON/LONDON (Reuters) -Wall Street dropped and oil jumped Friday morning after a strong jobs report in the United States suggested the Federal Reserve may have further to go to cool off the economy and stifle inflation. Strong data from the U.S. Labor Department, which reported the United States added...
Germany’s Gas Crisis in Charts: Pipeline Repair, and Then What?
Date: July 8, 2022
By Vera Eckert and Tom Sims FRANKFURT (Reuters) – The flow of gas from Russia to Germany through the Nord Stream 1 pipeline will stop on Monday for a planned 10-day maintenance period. The question is: Will flows then resume? Germany is largely dependent on Russian gas to fuel its export-led economy and to keep...
Shinzo Abe Sought to Reinvigorate Japan With Bold Economic Policies, Strong Armed Forces
Date: July 8, 2022
TOKYO (Reuters) – Shinzo Abe, Japan’s longest-serving prime minister, who sought to lift the economy out of chronic deflation with his bold “Abenomics” policies, beef up the military and counter China’s growing clout, has died at 67. Abe, who left office in 2020, was shot and killed on Friday during an election campaign speech in...