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Economy

“Euro zone inflation rises to 2.6% in July, above expectations”

“Headline inflation in the euro zone unexpectedly rose to 2.6% in July, the European Union’s statistics agency said Wednesday. Core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, hit 2.9% in July, which was higher than expected.… Continue Reading…

Economy

“Fears Sadiq Khan will bring in pay-per-mile road taxes after spending £3m on project”

“Sadiq Khan spent £3 million of taxpayers’ money planning a pay-per-mile road charging system, amid fears he could bring the scheme in if he is re-elected. Transport officials were working on a driver charging project as recently as January, even though… Continue Reading…

Economy

“Dutch Pension Funds Send Shockwaves Through Euro Swap Market”

“Dutch pension funds are plowing cash into long-dated swap contracts, according to strategists, upending one of this year’s most popular trades. The funds, by far the region’s largest with more than €1.5 trillion in assets, are likely bidding up the… Continue Reading…

Banking, Economy

“ECB’s €500 Billion Payoff Puts Italian Banks in the Firing Line”

“The European Central Bank is about to test the resilience of the continent’s banking industry by making lenders repay about half a trillion euros in cheap pandemic-era loans — in one go… As €476.8 billion of TLTRO loans come due… Continue Reading…

Business

“Sega to acquire Angry Birds maker Rovio for $776 million”

“Japanese gaming giant Sega announced Monday it has made a 706 million euro ($776 million) offer for the maker of the Angry Birds puzzle game, Finland’s Rovio Entertainment Oyj. The deal would be for the entirety of Rovio’s outstanding shares… Continue Reading…

Economy

“Euro slides below 99 cents after Russia halts gas supplies to Europe”

“LONDON — The euro fell below 99 cents for the first time in 20 years Monday, after Russia said it would shut off its main gas supply pipeline to Europe indefinitely… On Friday, Russian energy supplier Gazprom said it would not resume its supply… Continue Reading…

Banking, Economy

“The Euro System And It’s Currency Is Descending Into Crisis”

“EDITOR’S NOTE: A symphony of monetary derailment: Let’s start with an analogy. Most people wouldn’t know this, but conducting a large orchestra at Wagneresque proportions can be a harrowing task. The orchestra is so large and spread apart that the various sections… Continue Reading…

Economy

“Euro And Dollar Parity Signals A Deep Recession”

“EDITOR’S NOTE: Today €1 = $1. This means the euro has declined to reach parity with the US dollar.  What’s the significance? It’s going to cost European producers and consumers more to import stuff from the US. By the same token, it’ll… Continue Reading…

Economy

“Eurozone economy suffers ‘unprecedented’ collapse”

“The eurozone economy is suffering an “unprecedented” collapse according to a PMI index released Thursday by analysis firm IHS Markit… Manufacturing also saw a record fall however, because of staff and material shortages and severe supply chain disruptions. Employment plummeted… Continue Reading…

Business, Economy, Investing, Stocks

“Global Markets Drop Over Worries About U.S. and European Economies”

“Global markets largely took a tumble on Monday, with worries about a possible U.S. recession. Japan’s Nikkei 225 index was was down 3%. The Shanghai composite was off almost 2%, as was Hong Kong’s Hang Seng, with the Shenzhen composite… Continue Reading…