By Andy Bruce and William Schomberg LONDON (Reuters) – Britain’s economy remained below its pre-pandemic peak, according to data published on Friday that left the country further adrift of other Group of Seven nations and underscored the challenge faci…
Factbox-Europe’s crisis measures to tackle energy price spike
By Kate Abnett BRUSSELS (Reuters) – European Union countries on Friday approved a package of emergency measures aimed at pulling down surging gas and power prices that are stoking inflation, hampering industrial activity and inflicting sky-high bills o…
Bank of England won’t make emergency rate hike but will go big on Nov 3 – Reuters Poll
By Jonathan Cable LONDON (Reuters) – The Bank of England won’t raise interest rates before its next scheduled policy announcement on Nov. 3 despite a plummet in sterling but will make big moves in November and December and Bank Rate is now seen peaking…
TotalEnergies said it had anticipated strikes at refineries
PARIS (Reuters) – TotalEnergies said on Friday it had anticipated the strikes that have been disrupting its oil products refining and delivery operations in France this week, adding measures had been taken to supply clients in a normal way. “Amongst th…
Barclays hit by $361 million penalty over issuance of securities
(Corrects headline and first paragraph to make clear $361 million was size of penalty, not payment) (Reuters) – British bank Barclays agreed to a $361 million penalty over internal control failures related to the unregistered offer and sale of “an unpr…
UK’s Truss and Kwarteng to meet budget forecasters on Friday
LONDON (Reuters) -British Prime Minister Liz Truss and finance minister Kwasi Kwarteng will meet the head of the country’s independent fiscal watchdog on Friday, after days of financial market chaos triggered by the government’s planned tax cuts. Truss…
British PM Truss to attend European political summit in Prague -source
LONDON (Reuters) -British Prime Minister Liz Truss will attend the first summit of the European Political Community in the Czech Republic next week, a government source said on Thursday. Truss’ advisers have also offered to host the forum’s next summit…
Italy’s Meloni calls for common EU response to energy crisis
ROME (Reuters) – Giorgia Meloni, widely expected to be named Italian prime minister next month, said on Thursday that the European Union must come up with a common solution to the growing energy crisis exacerbated by the war in Ukraine. “We need a comm…
Blinken likens Russian referenda in Ukraine to attempted ‘land grab’
WASHINGTON (Reuters) – U.S. Secretary of State Antony Blinken denounced Russian-backed referenda in Ukraine on Thursday as an attempted land grab that is illegal and violates international law. “The Kremlin’s sham referenda are a futile effort to mask …
EU heads for deal on energy windfall levies, edges towards gas price caps
By Kate Abnett BRUSSELS (Reuters) -European Union countries are poised to approve a package of emergency measures including windfall profit levies on energy companies on Friday, at a meeting where states will also lock horns over whether to cap gas pri…