LONDON (Reuters) – The euro struggled near 3-year lows on Monday as investors worried about weakening growth in the region, while Chinese efforts to limit the damage from a coronavirus outbreak appeared to calm markets, with the yuan and Australian dollar gain... More »
BRUSSELS (Reuters) – Euro zone finance ministers are set to discuss on Monday a document that calls for a more growth-friendly fiscal policy, a move that could lead to Germany’s spending more amid fears of a downturn. The 19-country euro zone has for years stu... More »
FRANKFURT (Reuters) – German economic growth will remain weak in the first quarter of 2020, weighed down by weak exports and the coronavirus outbreak in China, the Bundesbank said in a regular economic report on Monday. Europe’s largest economy stagnated in th... More »
FRANKFURT (Reuters) – Gathered in a German mountain castle last November for an evening retreat that ended with a whiskey-tasting, rebel European Central Bank policymakers and Christine Lagarde, their newly confirmed president, made a pact. Lagarde pledged to ... More »
DUBLIN (Reuters) – Nine years after a devastating crash in property prices catapulted the party of Irish Prime Minister Leo Varadkar to power, a housing market recovery too rapid for many threatens to dump it into opposition at this week’s general election. Th... More »
FRANKFURT (Reuters) – The euro zone’s top bank supervisor blamed a “mess” of diverging laws across the bloc on Tuesday for the European Central Bank’s failure to stop Angolan billionaire Isabel dos Santos, who is suspected of fraud, from controlling a bank in ... More »
ROME (Reuters) – Authorities in the Italian town of Piacenza on Friday confirmed a painting found hidden in a wall of the local art gallery was by the Austrian master Gustav Klimt, ending doubts over its authenticity. Workers discovered the painting in Decembe... More »
LONDON (Reuters) – China’s yuan led a rally in trade-sensitive currencies on Monday and the Australian dollar recovered some recent losses as the imminent signing of a preliminary U.S.-China trade deal boosted sentiment. The U.S.-China Phase 1 agreement, due t... More »
LONDON (Reuters) – Safe-haven currencies such as the Japanese yen retreated on Thursday as the United States and Iran backed away from further conflict, with markets flipping back to a more risk-taking approach on hopes of a U.S.-China trade deal. U.S. Preside... More »
PARIS (Reuters) – Ballerinas in white tutus danced scenes from Swan Lake on the forecourt of the Paris Opera on Tuesday to protest against President Emmanuel Macron’s plans to scrap their special pension benefits. Backed by musicians from the Paris Symphony Or... More »
AMSTERDAM (Reuters) – Interest rates in the euro zone could remain historically low for years, but the European Central Bank’s (ECB) ultra-loose monetary policy risks becoming counterproductive, ECB governing council member Klaas Knot said in an interview publ... More »
PARIS (Reuters) – Four branches of France’s hardline CGT union, including railway and transport workers, threatened on Sunday to step up protests unless the government withdraws its pension reform proposal this week. In a major overhaul of France’s complex pen... More »
FRANKFURT (Reuters) – The European Central Bank left policy unchanged at new ECB President Christine Lagarde’s first meeting on Thursday, keeping money taps wide open and further stimulus ready as the euro zone economy continues to suffer from broader global t... More »
BRUSSELS (Reuters) – European Union leaders are meeting in Brussels on Thursday and Friday for talk on climate, the EU’s long-term budget, Brexit, the euro zone and Russia sanctions, among others. Here are comments made by them on Thursday ahead of the summit.... More »
BERLIN (Reuters) – Germany’s exports rose unexpectedly in October, a morale boost for Europe’s largest economy, which has been teetering on the brink of recession over recent quarters. The 1.2% rise in exports raises hopes that the economy can avoid contractin... More »
ROME (Reuters) – Prime Minister Giuseppe Conte told parliament on Monday a contested reform of the euro zone’s bailout fund was in Italy’s national interest, but that it should only be adopted as a package alongside other measures. A reform of the European Sta... More »
BERLIN (Reuters) – Germany’s Olaf Scholz will carry on for now as finance minister despite losing a bid to lead his Social Democratic Party because he sees it as his duty not to sink the ruling coalition, people familiar with the matter said on Monday. Scholz ... More »
BERLIN (Reuters) – Germany’s export-dependent manufacturing sector contracted at a slower pace for the second month in a row in November, a survey showed on Monday, as companies sounded optimistic about their future business. IHS Markit’s Purchasing Managers’ ... More »
MILAN (Reuters) – The head of Italy’s ruling 5-Star Movement said on Saturday the government should not sign off on a reform of the euro zone’s bailout fund until plans for a wider banking union became clearer. The comments by foreign minister Luigi Di Maio co... More »
ROME (Reuters) – Matteo Salvini has recently dropped threats to take Italy out of the euro zone but the hard-right leader is now alarming European authorities with a new target for his eurosceptic anger: a planned reform of the region’s bailout fund. Euro zone... More »
HELSINKI (Reuters) – Finland’s national airline Finnair (FIA1S.HE) said on Sunday it was forced to cancel 276 flights scheduled for Sunday and Monday after attempts to settle a labor dispute at the Finnish postal service failed, leading several Finnish labor u... More »
MILAN (Reuters) – Italy should use ongoing talks over the reform of the euro zone bailout fund, the ESM, to secure something for itself such as the appointment of an Italian to head the fund, Bank of Italy Deputy governor Fabio Panetta said on Saturday. Panett... More »
ROME (Reuters) – Proposals to reform the euro zone’s bailout fund are creating a political storm in Italy, where parties and institutions are battling over whether Rome should try to block the reform at the EU level. A draft of the reform was agreed by euro zo... More »
LONDON (Reuters) – The euro enjoyed a small respite on Monday, jumping to an 11-day high versus the U.S. dollar, on expectations that Washington and Beijing can soon sign off on a deal to end a trade war that has been a drag on global economic growth. Faint op... More »
(Reuters) – The revamped Davis Cup format making its debut this week is fantastic for tennis and must be given a chance to succeed, Britain’s Andy Murray has said. The week-long tournament in Madrid’s Caja Magica, involving 18 teams split into six groups of th... More »
PARIS (Reuters) – Chinese video gamers crushed a team from Europe on Sunday who were hoping to break the domination of Asian players in the world championship finals of online game “League of Legends”. With more than $1 million up for grabs, China’s FunPlus Ph... More »
LONDON (Reuters) – The euro edged down on Monday as investors awaited Christine Lagarde’s first speech as European Central Bank president, but hopes that the United States may choose not to impose tariffs on auto imports kept it near its highest level in weeks... More »
ROME (Reuters) – A right-wing coalition scored a net victory in a local election in the central Italian region of Umbria, official data from the Interior Ministry showed on Monday, giving a boost to Matteo Salvini’s League party. The vote in tiny Umbria, a tra... More »
MADRID (Reuters) – Spain’s acting prime minister, Pedro Sanchez, said he would travel to Barcelona on Monday to visit police officers injured in protests that have rocked the Spanish region of Catalonia. Protesters on Sunday took to the streets for the seventh... More »
LONDON (Reuters) – There is enough support among British lawmakers to pass a Brexit deal, the leader of the lower house of parliament Jacob Rees-Mogg said on Tuesday as talks continue in Brussels to thrash out a divorce agreement with the European Union. “I th... More »
MADRID (Reuters) – Spain’s acting government trimmed its growth forecasts on Tuesday as part of draft budgetary plans submitted to the European Commission and raised a deficit estimate, at a time when political gridlock prevents Madrid from having much margin ... More »
FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) has postponed the final decision whether to build a car plant in Turkey, a company spokesman said, amid international criticism of the country’s military operation in Syria and concerns about potential reputational ... More »
AMSTERDAM (Reuters) – The Dutch central bank said on Tuesday it would require banks to retain 3 billion euros ($3.31 billion) in additional capital to compensate for risks posed by mortgage portfolios. In its autumn report on financial stability, De Nederlands... More »
BERLIN (Reuters) – German industrial orders fell more than expected in August on weaker domestic demand, data showed on Monday, adding to signs that a manufacturing slump is pushing Europe’s largest economy into recession. Contracts for ‘Made in Germany’ goods... More »
GENEVA (Reuters) – The launch of Facebook’s Libra could be pushed back to tackle the regulatory concerns that have been raised around the world, the head of the organization set up to oversee the cryptocurrency told Reuters. Three months ago, Facebook (FB.O) a... More »
BRUSSELS (Reuters) – European Union commissioners-designate said the bloc should agree on a digital tax if no deal on the matter was reached at a global level by the end of next year, ramping up pressure on multinationals accused of paying too little. In writt... More »
FRANKFURT (Reuters) – Euro zone governments must reform their economies and use appropriate fiscal policies to ensure that the European Central Bank is not overburdened, German Chancellor Angela Merkel said on Thursday. Speaking at an event in Frankfurt, home ... More »
ROME (Reuters) – Italy’s new government allowed a French charity ship to bring ashore 82 migrants on Saturday in an apparent reversal of the uncompromising, closed-door policy of the previous administration. However, Foreign Minister Luigi Di Maio, who heads t... More »
HELSINKI (Reuters) – France and Germany said on Friday that Facebook Inc’s (FB.O) Libra currency posed risks to the financial sector that could block its authorization in Europe, and backed the development of an alternative public cryptocurrency. The criticism... More »
SAN FRANCISCO/NEW YORK (Reuters) – Facebook Inc (FB.O) revealed lofty plans to establish a cryptocurrency called Libra in June, but the project quickly ran into trouble with skeptical regulators around the world. Opposition deepened on Friday, when both France... More »
FRANKFURT (Reuters) – European Central Bank chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing euro zone economy, tying the hands of his successor for years to come and sparking an immediate conflict with U.S. President Donald Trump... More »
WASHINGTON (Reuters) – The European Central Bank’s move to cut interest rates and restart a larger stimulus program drew fast reaction from the White House on Thursday, with President Donald Trump saying the ECB was undercutting the value of its currency and “... More »
FRANKFURT (Reuters) – The European Central Bank approved a fresh stimulus package as expected on Thursday, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations. Follo... More »
FRANKFURT (Reuters) – The European Central Bank approved a fresh stimulus package as expected on Thursday, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations. The E... More »
FRANKFURT (Reuters) – Euro zone banks will be exempted from paying the European Central Bank a penalty charge on idle cash worth six times their mandatory reserves, the ECB said on Thursday. “This decision aims to support the bank-based transmission of monetar... More »
BERLIN (Reuters) – The German economy will slide into a recession in the current quarter, the Kiel Institute for the World Economy (IfW) said on Wednesday as it slashed its growth forecasts for Europe’s biggest economy due to trade disputes and Brexit uncertai... More »
BERLIN (Reuters) – German Chancellor Angela Merkel said on Wednesday there was still every chance for Britain’s divorce from the European Union to take place with a deal although Berlin is prepared for a disorderly Brexit in case that does not happen. British ... More »
LONDON (Reuters) – The Japanese yen fell on Wednesday as the rush into safe-haven assets during the summer continued to unwind on the back of rising risk appetite, while the euro paused before Thursday’s European Central Bank meeting. The yen had rocketed towa... More »
BERLIN (Reuters) – Chancellor Angela Merkel said on Wednesday that the current economic situation in Germany meant tax revenues could come in lower than expected. Europe’s largest economy contracted by 0.1% quarter-on-quarter in the April-June period and some ... More »
PARIS (Reuters) – French manufacturing companies have lowered their investment plans from only a few months ago, according to a quarterly survey from the INSEE statistics agency on Tuesday. Manufacturers plan on increasing investments in 2019 by 6%, down from ... More »
PARIS (Reuters) – Britain would still have to honour all its financial obligations made during its membership of the European Union even if a ‘no-deal’ Brexit occurred, said EU Economics Commissioner Pierre Moscovici on Tuesday. British Prime Minister Boris Jo... More »
BIARRITZ, France (Reuters) – French President Emmanuel Macron said on Monday G7 leaders had not reached a consensus on inviting Russia to next year’s G7 summit in the United States. Macron added that he and German Chancellor Angela Merkel would organize a summ... More »
BIARITTZ, France (Reuters) – France and the United States have reached a deal to end a standoff over a French tax on big internet companies, French President Emmanuel Macron said on Monday. U.S. President Donald Trump had threatened to hit back with tariff act... More »
LONDON (Reuters) – Sovereign wealth funds’ distaste for equities mostly faded in the second quarter, with some investors turning to emerging- market passive equity funds, data from the research firm eVestment showed on Thursday. Passively managed equity funds ... More »
BERLIN (Reuters) – There is no sign of a looming euro zone crisis due to political upheaval in Italy, German Finance Minister Olaf Scholz said on Wednesday. Asked if he feared a new euro zone crisis, Scholz told German television: “No, there is no sign of that... More »
LONDON (Reuters) – The euro steadied on Monday after suffering its biggest weekly drop in nearly two months as risk appetite gradually returned to global markets after a week of turmoil. With hopes of fiscal stimulus from Germany growing and steps by China ove... More »
ROME (Reuters) – Italy’s ruling League party would seek tax cuts in the 2020 budget by raising the country’s deficit a little bit, its economics spokesman said on Monday. League chief Matteo Salvini pulled the plug last week on its coalition government with th... More »
LONDON (Reuters) – Bond yields in the euro zone were off record low levels on Monday, as a calmer tone settled in world markets and focus turned to the prospect of fiscal stimulus in Germany. Germany has the fiscal strength to counter any future economic crisi... More »
MADRID (Reuters) – American actor Richard Gere on Friday visited 121 migrants stranded for the past week on a rescue ship in the Mediterranean, as the European Union’s executive urged member countries to show solidarity in finding a solution. Arriving on a boa... More »
ATHENS (Reuters) – Greek sculptor Takis, whose kinetic artworks were admired at major art museums around the world in a career spanning over 70 years, died on Friday at the age of 93, his foundation said. Takis, whose real name was Panagiotis Vassilakis, used ... More »
BRUSSELS (Reuters) – The European Commission lowered its estimates on Wednesday for euro zone growth and inflation, saying uncertainty over U.S. trade policy posed a major risk to the bloc. In its quarterly economic forecasts, the European Union’s executive ar... More »
BRUSSELS (Reuters) – Croatia has submitted a formal bid to join the European Exchange Rate Mechanism (ERM-2), an early stage on the path to membership of the euro currency, the head of the Eurogroup of euro zone finance ministers said on Monday. The move could... More »
BERLIN (Reuters) – German exports rebounded more strongly than expected in May but failed to fully recover from a slump a month earlier, data showed on Monday, as trade conflicts cool Europe’s largest economy in the second quarter. Exports grew by 1.1% on the ... More »
FRANKFURT (Reuters) – A shrewd negotiator who has run the IMF but has little monetary policy experience, Christine Lagarde will face the challenge as the European Central Bank’s new chief of having to revive the euro zone economy with a largely depleted policy... More »
BRUSSELS (Reuters) – European Union leaders are close to picking Dutch socialist Frans Timmermans to head the European Commission, two diplomats said on Monday, after an uninterrupted 18 hours of talks during which the bloc’s political families vied for influe... More »
LONDON (Reuters) – The dollar and offshore Chinese yuan rallied on Monday after the United States and China agreed to restart their troubled trade talks, while the Japanese yen and Swiss franc were the big casualties as investors sold safe-haven currencies. Wh... More »
FRANKFURT (Reuters) – Profitability across the euro zone bank sector is low and weakening growth could further dampen the sector’s prospects, European Central Bank Vice President Luis de Guindos said on Tuesday. Negative ECB rates are not the cause of the weak... More »
MILAN (Reuters) – A controversial plan for Italy to issue so-called mini-bills to settle overdue state payments is opening cracks within the country’s ruling League party, after a prominent party official on Sunday dismissed it as “unrealistic.” Mini-bills, or... More »
LONDON (Reuters) – The dollar was on the back foot on Monday after sustaining its biggest weekly drop in four months last week as traders remained cautious about the prospects of trade talks between the United States and China at this week’s G20 summit. The gr... More »
ATHENS (Reuters) – Greece’s Acropolis Museum opened an excavation site underneath its modern building on Friday, allowing visitors for the first time to walk through an ancient Athenian neighbourhood that survived from the Classical era to Byzantine times. The... More »
LONDON (Reuters) – The dollar weakened against its rivals on Tuesday, heading back towards a recent three-month low before a U.S. central bank meeting gets underway with expectations growing the Fed will signal its first rate cut in a decade. A CME Fedwatch to... More »
(Reuters) – The head of the European Central Bank, Mario Draghi, steps down at the end of October and the 19 euro zone countries are now looking for his replacement. The shortlists of likely candidates are almost exclusively male. It is one of several top jobs... More »
ROME (Reuters) – Italian Prime Minister Giuseppe Conte will present an ultimatum to fractious ruling parties on Monday to speed up government action or face his resignation, Italian newspapers La Repubblica and Il Corriere della sera reported. Conte will make ... More »
BRUSSELS (Reuters) – The results of the European parliamentary election are likely to lead to less ambitious euro zone integration plans and set Italy up for more clashes with the European Commission over its fiscal policy, euro zone officials said on Monday. ... More »
(Reuters) – Defending champion Rafa Nadal begins his French Open campaign on Monday, seeking his 12th title and 18th Grand Slam while looking to dismiss any doubts about his form after three consecutive semi-final exits in the run-up to Roland Garros. Three di... More »
NEW YORK (Reuters) – The U.S. dollar held near a one-month high on Wednesday after minutes from the May Federal Open Market Committee meeting showed officials agreed that their current patient approach to setting monetary policy could remain in place “for some... More »
LONDON (Reuters) – The Australian dollar surged on Monday and is on track for its biggest rise this year as investors cheered a shock election win by Prime Minister Scott Morrison’s conservative coalition, though mixed global stocks broadly weighed on risk app... More »
(Reuters) – I.M. Pei, whose modern designs and high-profile projects made him one of the best-known and most prolific architects of the 20th century, has died, the New York Times reported on Thursday. He was 102. Some of his better-known works included: * Nati... More »
FRANKFURT (Reuters) – Euro zone banks are turning away from cross-border activity, putting at risk the bloc’s banking union and raising the risk of dangerous fragmentation, European Central Bank Vice President Luis de Guindos said on Thursday. With national ru... More »
LONDON (Reuters) – China’s yuan was set for its worst daily fall in nine months on Monday as trade negotiations between the U.S. and China ended after President Donald Trump raised tariffs on Chinese goods. Currency moves in response to the latest trade hostil... More »
LONDON (Reuters) – British Prime Minister Theresa May’s Conservatives have fallen to fifth place in an opinion poll ahead of the May 23 European parliamentary election as pressure grows for her to set a date for her own departure. Nigel Farage’s Brexit Party w... More »
SANTANDER, Spain (Reuters) – A Saudi ship, prevented by rights groups from loading an arms cargo at the French port of Le Havre on Friday, arrived at the Spanish port of Santander early on Monday. It was not clear what the Saudi ship was doing in Santander or ... More »
LONDON (Reuters) – The Chinese yuan was set for its biggest drop in 10 months on Monday after U.S. President Donald Trump threatened to raise tariffs on China while perceived safe-haven currencies such as the yen surged amid a broad-based rout for risky assets... More »
MUNICH (Reuters) – Researchers in Germany have created transparent human organs using a new technology that could pave the way to print three-dimensional body parts such as kidneys for transplants. Scientists led by Ali Erturk at Ludwig Maximilians University ... More »
MILAN (Reuters) – Italy’s biggest lender UniCredit said it is among a group of banks accused of running a cartel in trading euro zone government bonds between 2007 and 2012, years when financial crises dragged down banks and several European countries. UniCred... More »
BUCHAREST (Reuters) – The European Central Bank considers that risks to the euro zone financial stability from a no-deal Brexit are “limited” and have been broadly addressed, ECB board member Benoit Coeure said on Friday. But he repeated the ECB’s call on fina... More »
BUCHAREST (Reuters) – Euro zone countries have taken steps to prepare for a no-deal Brexit but are still hoping that this scenario will not occur, the chairman of the Eurogroup of euro zone finance ministers said on Friday. Mario Centeno told a news conference... More »
BRATISLAVA (Reuters) – Slovakia’s ruling party-backed candidate Maros Sefcovic conceded defeat in the euro zone country’s presidential election on Saturday. Sefcovic, a vice-president the European Union’s executive Commission, told reporters he had called his ... More »
BRUSSELS (Reuters) – Euro zone banking watchdogs said banks planning mergers should make sure they could be wound down in a crisis, a warning likely to resonate with executives seeking to merge German giants Deutsche Bank and Commerzbank. The two lenders confi... More »
LONDON (Reuters) – Having spent three years and more than 2.6 trillion euros ($3 trillion) trying to boost economic growth across the euro zone, the European Central Bank’s mixed record may open the door for a high-spending, radical alternative. With populist ... More »
ROME (Reuters) – Italy will join China’s giant “Belt and Road” initiative only after satisfying itself that U.S. and European Union concerns over the infrastructure plan have no basis, Industry Junior Minister Michele Geraci was quoted as saying on Monday. Ger... More »
FRANKFURT (Reuters) – The European Central Bank changed tack on its tightening plan on Thursday, pushing out the timing of its first post-crisis rate hike until 2020 at the earliest and offering banks a new round of cheap loans to help revive the euro zone eco... More »
VILNIUS (Reuters) – Euro zone banks will not be able to use a new longer-term lending facility from the European Central Bank to extend mortgages, Lithuanian central bank chief Vitas Vasiliauskas said on Friday. The ECB delayed its first post-crisis rate hike ... More »
FRANKFURT (Reuters) – Following is the text of European Central Bank President Mario Draghi’s statement after the ECB’s policy meeting on Thursday: Based on our regular economic and monetary analyses, we have conducted a thorough assessment of the economic and... More »
FRANKFURT (Reuters) – The European Central Bank is expected to give banks fresh long-term loans known as TLTROs to keep credit flowing to companies in the euro zone, in the hope that an already marked economic downturn will not be exacerbated by a sudden crunc... More »
LONDON (Reuters) – High-grade euro zone debt remains scarce even though the European Central Bank has stopped its huge purchases of new bonds, intensifying concerns that banks will face future collateral shortages and highlighting the need for safe assets. The... More »
BENGALURU (Reuters) – Global funds recommended a bigger safety buffer in February, with cash holdings raised to their highest in more than three years and equity allocations cut to the lowest in nearly two, a Reuters poll showed on Thursday. Many top equity in... More »
ROME (Reuters) – Italian Economy Minister Giovanni Tria said on Wednesday that European Union “bail-in” rules covering failing banks should be scrapped. Tria told parliament he agreed with comments by Antonio Patuelli, the head of Italy’s banking lobby, who ea... More »
BERLIN (Reuters) – If Britain quits the European Union without a deal, that could shave at least 0.5 percent off Germany’s gross domestic product (GDP), the head of Germany’s BDI industry association said on Tuesday. BDI Managing Director Joachim Lang said tha... More »
LUXEMBOURG (Reuters) – Latvia violated European Union law by barring from office its central bank governor, who is also a European Central Bank policymaker, the European Court of Justice ruled on Tuesday in a widely expected decision. Ilmars Rimsevics was susp... More »
