The European Central Bank is set to deliver its first interest-rate hike since 2011 this week, yet markets are already fast-forwarding to focus on the path for higher rates beyond Thursday as economic prospects darken. That outlook is getting murkier by the day because inflation is still accelerating and growth slowing sharply. “The trade off the ECB is facing is…
View More The hike is (almost) here! Now for what comes next: Five questions for the European Central Bank
The dollar began the week nudging down from multi-year highs, with a hotter-than-forecast inflation reading in New Zealand lending modest support to the kiwi, though fears about Europe’s gas supply put a cap on dollar selling. The greenback has soared this year thanks to a combination of rising U.S. interest rates and wobbling economies in Europe and China. It pushed…
View More US dollar nudges down from multi-year highs as euro gasps for gas
The Swiss National Bank is currently planning to raise interest rates by 50 or 75 basis points in its next scheduled monetary policy announcement in September, a Swiss newspaper reported on Saturday, citing one or more people involved in the matter. The central bank last month raised its policy rate for the first time in 15 years and Chairman Thomas…
View More Swiss central bank plans at least 50 bps rate hike in September, newspaper reports
The European Parliament has given a final stamp of approval to two major pieces of regulation which will update the EU’s rules for digital businesses. The Digital Markets Act (DMA) will introduce new ‘ex ante’ competition rules for gatekeeping tech giants to ensure markets are fair and open; while the Digital Services Act (DSA), which applies more broadly — to…
View More European parliament backs ‘historic’ reboot to EU’s digital rulebook
As travelers set off on vacations to avenge being grounded for so long due to the pandemic, they are getting a reality check. Logjams at airports are ensuring a rather rocky start to their long-awaited trips European airports are once again inundated with travelers. This is even before summer holidays have begun in many countries.With most of the pandemic-related restrictions…
View More Traveling in Europe during the summer? Consider this
Macron re-elected French president with 58.2% of the vote One could almost hear the sighs of relief, from Paris to Brussels, and all the way to Washington, as French leader Emmanuel Macron clinched another five-year term in the Elysée Palace. Though polls narrowed during some points leading up to Sunday’s runoff, Macron beat out far-right nationalist Marine Le Pen in…
View More French President Emmanuel Macron Wins Re-Election, Surviving a Far-Right Challenge From Marine Le Pen
Populist prime minister Janez Jansa, a supporter of Donald Trump who was accused of taking Slovenia on a similar right-wing path to Hungary, was ousted after a surprise election result in April. A new liberal party, the Freedom Movement, shocked observers by winning a 34.5% vote share, compared with 23.6% for Janša’s Slovenian Democratic Party. Party founder and leader Robert…
View More Liberal Newcomer Defeats 3-Time Prime Minister In Slovenia Polls
Speaking on the Greek island of Lesbos, Pope Francis called the neglect of migrants the “shipwreck of civilisation”. The Pope first visited Lesbos in 2016, when it was a major entry point for people trying to reach Europe. Since then, new flashpoints have emerged and the Pope expressed regret that little had changed. Last month 27 people died when their…
View More Pope condemns Europe’s mistreatment of migrants and efforts to ‘cancel Christmas’
US President Joe Biden and Russia’s Vladimir Putin will speak via video call on Tuesday, the White House says, amid mounting tensions over Ukraine. It comes after Secretary of State Antony Blinken said the US had evidence that Russia had made plans for a “large scale” attack on Ukraine. But he added it was unclear if Mr Putin had made…
View More BIDEN & PUTIN TO HOLD TALKS AMID UKRAINE INVASION FEARS
Six more U.S. states confirmed infections of the Omicron variant of COVID-19 on Friday but the Delta strain likely remains a greater threat as winter sets in and Americans gather for the holidays, experts said. New Jersey, Maryland, Missouri, Nebraska, Pennsylvania and Utah each reported their first cases of the Omicron variant on Friday. Missouri was awaiting CDC confirmation of…
View More SIX MORE AMERICAN STATES FIND OMICRON CASES: DELTA STILL TOP U.S. CORONAVIRUS THREAT