Europe
Europe's shoppers still shell-shocked
When a $500 Electrolux oven briefly went on sale for 1 percent of its list price in Hungary last week, within hours shoppers flooded the online store with thousands of orders.
Meta to offer ad-free plans in Europe
Meta Platforms said on Monday it will offer users in Europe a subscription plan to use Facebook and Instagram without advertisements to comply with the European Union regulations.
Gold demand down
Global gold demand excluding over-the-counter (OTC) trading slipped 6 percent in the third quarter as central bank buying fell short of last year’s record levels and consumption by jewellers declined, the World Gold Council (WGC) said on Tuesday.
Oil prices broadly stable
Oil prices were broadly stable on Tuesday following the previous session’s dip after a flurry of economic data from Germany, the wider euro zone and Britain sketched a bearish picture which could weigh on oil demand.
UK labour market loses steam
Britain’s labour market lost a bit more of its inflationary heat in the three months to August, data from the Office for National Statistics (ONS) showed on Tuesday, potentially helping the Bank of England to keep interest rates on hold next week.
Bitcoin soars to 18-month high
Bitcoin rose 6 percent on Tuesday to $35,198, its highest in nearly a year-and-a-half, on mounting speculation that an exchange-traded bitcoin fund is imminent.
Energy efficiency efforts / Global industry could save $437b a year
Global industry could save around $437 billion a year from 2030 via energy efficiency savings and could also achieve big reductions in carbon emissions, a study showed.
Oil price slips
Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas.
UK inflation drops to 18-month low
British inflation unexpectedly slowed in August, data showed Wednesday, hitting an 18-month low and sparking hope this week’s widely-forecast interest rate hike by the Bank of England could be its last for now.
Dollar holds fast
The dollar remained firm on Wednesday ahead of a much-anticipated rate decision by the Federal Reserve later in the day, while sterling slid on increased bets the Bank of England (BoE) will pause its historic run of interest rate hikes.
Erdogan asks Musk to build Tesla factory in Turkey
Turkish President Tayyip Erdogan asked Tesla CEO Elon Musk to build a Tesla factory in Turkey, the country’s communications directorate said on Monday.
EU risks depending on China for batteries
The European Union could become as dependent on China for lithium-ion batteries and fuel cells by 2030 as it was on Russia for energy before the war in Ukraine unless it takes strong measures, a paper prepared for EU leaders said.
Working in China harder than ever
Foreign business confidence in China has reached its lowest in years, US and European enterprise lobbies warned Tuesday, as slowing growth and geopolitical tensions hit investment prospects.
Eurozone inflation eases
Eurozone inflation slowed slightly in August, the EU statistics agency said on Tuesday, revising its previous figure.
OECD sees ‘sub-par’ global growth as high rates bite
The OECD raised its global economic outlook for 2023 on Tuesday but cut the growth forecast for next year as “painful” interest-rate hikes aimed at curbing inflation take their toll.
Dollar hovers near 6-month high
The US dollar hovered near a six-month high on Monday as traders looked ahead to interest rate decisions from the Federal Reserve, the Bank of England and the Bank of Japan this week.
Russia, China to build oil transshipment complex
Russia’s United Oil- and Gas-Chemical Co and China’s Xuan Yuan Industrial Development have agreed to jointly invest 5 billion yuan ($686 million) in construction of a transshipment oil complex in Russia’s far east, the Roscongress fund said on Monday.
Foxconn aims to double jobs, investment in India
Apple supplier Foxconn aims to double its workforce and investment in India by next year, a company executive said on Sunday.
