By Simon Johnson and Anna Ringstrom STOCKHOLM (Reuters) -The head of Sweden’s Moderate Party, Ulf Kristersson, said on Wednesday he would begin the work of forming a new government after Prime Minster Magdalena Andersson conceded her Social Democrats h…
Microsoft’s acquisition deal for Activision to face in-depth antitrust probe in UK – FT
(Reuters) – Microsoft Corp’s deal to buy videogame publisher Activision Blizzard is expected to face an in-depth UK probe after the software maker did not offer any remedies to assuage competition concerns, the Financial Times reported. Microsoft chose…
Italy restores pay cap for top civil servants
ROME (Reuters) -The Italian government on Wednesday reversed a controversial attempt by the outgoing parliament to weaken a salary cap for senior public servants. In a surprise vote on Tuesday, the upper house Senate had approved a measure to allow top…
Portugal rules out energy windfall tax, cites other mechanisms aiding customers
By Sergio Goncalves LISBON (Reuters) – Portugal is already transferring hundreds of millions of euros of excess profits made by electricity and gas companies from spiralling energy prices to consumers and sees no immediate need for a windfall tax, its …
Ireland to revise down economic growth forecasts for 2023 -minister
DUBLIN (Reuters) – Ireland’s finance minister said on Wednesday his department will cut its economic growth forecasts for next year as part of preparations for the government’s Sept. 27 budget. The ministry forecast that modified domestic demand – its …
IMF’s Georgieva says central bankers must be ‘stubborn’ in fighting inflation
By Andrea Shalal WASHINGTON (Reuters) -Central bankers must be persistent in fighting broad-based inflation, International Monetary Fund chief Kristalina Georgieva said on Wednesday, conceding that many economists were wrong when they predicted last ye…
France caps energy price increase at 15% next year to shield consumers
By Tassilo Hummel and Leigh Thomas PARIS (Reuters) -France will cap power and gas price increases for households at 15% next year, Prime Minister Elisabeth Borne said on Wednesday, to ease the pain of Europe’s worst energy crisis in decades on consumer…
Suspicious minds leave UK assets all shook up
By Andy Bruce LONDON (Reuters) – There is trouble ahead for Britain’s new finance minister Kwasi Kwarteng: a marked shift in how British assets are behaving in markets points to growing unease about the economy’s vulnerabilities. Investors around the w…
Arm launches new chip design for cloud and data center
By Jane Lanhee Lee OAKLAND, Calif. (Reuters) – Arm Ltd, the British chip technology firm owned by SoftBank Group Corp, on Wednesday launched its next generation of data center chip technology called Neoverse V2 to meet the explosive growth of data from…
Too early to tell if Ukraine counter-offensive is turning point, Germany says
BERLIN (Reuters) – German Defence Minister Christine Lambrecht said on Wednesday it is too early to tell whether Ukraine’s significant territorial advances in recent days mark a turning point in the war prompted by Russia’s invasion of its neighbour. “…