International Economic
EU agrees gas rationing plans, but with exemptions
European Union members agreed to reduce their gas consumption on Tuesday in the face of increased gas rationing by Russia, albeit in a more watered-down fashion than that first proposed.
Fed jitters keep Bitcoin price weak but $20.000 holds ahead of key rates decision
Bitcoin prices are going to be very jittery this week as the US Federal Reserve (Fed) will announce its monetary policy decision. The digital currency par excellence is trading on the edge of $22,000, far from its high of last week above $24,000, while Ethereum is holding around $1,500. Total capitalization gives up $1 million after Monday's bearish close at one-week lows.
Natural gas futures jump as Gazprom cuts gas supplies through Nordstream 1 again
Gazprom will halt one of the two remaining turbines that power the Nordstream 1 gas pipeline's compressor station, in a move that is expected to further reduce volumes shipped to Germany.
US dollar strength and Fed rate hikes enough to kill inflation and push economy into recession, Jefferies says
The Federal Reserve was set to hike short-term interest rates by 75 basis points for a second time in a row at its next meeting on 26-27 July, Jefferies said, but that it would be the last such increment.
Lufthansa ground staff to stage 'warning strike' on Wednesday
Ground handling staff at Lufthansa are set to stage a “warning strike” on Wednesday across all of the airline’s locations, as disagreements between around 20,000 workers and the German flag carrier in collective bargaining continued.
Germany on brink of recession - Ifo
Germany is on the brink of recession, according to a survey released on Monday by the Ifo Institute.
Wheat futures drop sharply after Kyiv and Moscow ink deal to restart grain exports
Wheat futures extended their recent declines after Russia and Ukraine penned an agreement to unblock exports of millions of tons of Ukrainian wheat through the latter's ports on the Black Sea.
US business activity shrinks for first time since mid-2020 in July, S&P Global says
Business activity in the US shrank unexpectedly in July for the first time since mid-2020, the results of two closely-followed surveys revealed.
Bitcoin rises 22% in July and it's about to finish its best month since October, but the Fed is just around the corner
Bitcoin´s price action is giving up some strength after breaking out of its month-long consolidation period. All in all, the digital asset remains above $23,000 resistance, keeping hopes for the market rally to $25,000. For now, the queen of cryptos is still up 22% this month and remains on track to post its best monthly performance since October of last year. The big question is whether the US Federal Reserve (Fed) rate decision will spoil its ascent.
UK manufacturing output drops for first time since May 2020
UK manufacturing output fell in July for the first time since May 2020, according to a survey released on Friday.
ECB hikes rates for first time in 11 years
The European Central Bank announced its biggest rate hike in more than 20 years on Thursday as it looks to tackle inflation, which hit a record 8. 6% in June.
US initial jobless claims come in hotter than expected
Americans filed new claims for unemployment benefits at an acceleratef clip in the week ended 16 July, jumping by 9,000 to 251,000, well above market expectations for a print of 240,000 and the highest since November 2021.
Factory activity in US mid-Atlantic region falls unexpectedly in July, Philly Fed says
Factory activity in the US mid-Atlantic region weakened unexpectedly in July as the decline in new orders accelerated its recent fall, the results of a key survey revealed.
Bank of Japan keeps rates unchanged; lifts inflation forecast
The Bank of Japan kept interest rates unchanged on Thursday as expected, but lifted its inflation forecast and cut growth estimates.
Italian Prime Minister Mario Draghi resigns; FTSE MIB slides
Italian Prime Minister Mario Draghi has handed in his resignation after three of his coalition partners withdrew their support in a confidence vote on Wednesday, sending the country’s stock markets tumbling.
Bitcoin resists despite Musk selling 75% of Tesla's BTCs
Bitcoin trades below $23,000 on Thursday, after Wednesday's high above $24,000, as it tries to rebound from recent selling triggered by news that Tesla sold about 75% of its holdings of the virtual token.
FTSE 250 movers: Future, Asos pace gains
Shares in media outfit Future paced gains on the second-tier index with traders pushing them closer towards technical resistance around the 2,000. 0p level.
German government set to take 30pc stake in Uniper
Further details on the rescue plan for German energy firm Uniper were unveiled on Wednesday, with the federal government set to take a stake of 30% in the company.
Geographical scope of military operations will change if Kyiv gets long-range weaponry, Lavrov says
The geographical scope of Moscow's 'special military operation' will expand even further beyond the current front line if the West supplies Kyiv with long-range weaponry, Russia's foreign minister said.
US existing home sales fall for fifth straight month in June
Home selling activity in the US fell back for a fifth month in a row in June amid a continued decline in affordability.