Europe
UK and India to resume stalled free trade talks
Britain and India will resume stalled talks to agree a free-trade deal, the two countries said after their leaders met at the G20 summit in Brazil.
Russia, Ukraine swap 190 POWs
Russia said yesterday that it had swapped 95 Ukrainian soldiers held captive for an equal number of Russian troops in an exchange deal brokered by the United Arab Emirates.
HSBC cost cuts expose new CEO’s bigger problem
There’s always a case to be made for cost cuts at HSBC. The $160 billion lender employed 214,000 people in June and arguably suffers from duplication across its different bits. Still, new CEO Georges Elhedery has a much bigger job than finding the modest savings that he is reported to be eyeing. Growth is the bank’s key challenge.
Russia sets price floor for wheat at int’l tenders
Russia’s agriculture ministry asked exporters at a closed-door meeting on Friday not to sell wheat by tender to international buyers below a minimum price, two sources with direct knowledge of the matter told Reuters.
As EU targets Chinese cars, European rivals sputter
As the EU seeks to put a brake on competition from Chinese electric cars, European automakers are stuck in second gear.
Gulf turmoil will leave ratesetters on edge
Central bankers are probably watching unfolding events in the Middle East through their fingers. Tuesday’s strike by Iran on Israel raises the risk of a robust riposte. One of the dangers facing the global economy is that the conflict makes a mess of ratesetters’ plans to loosen monetary policy.
Bank of England warns of prolonged economic risk
The British economy remains open to financial market shocks amid geopolitical tensions and high levels of public debt in major economies, the Bank of England warned on Wednesday.
Gold pushed to new records as India demand reignites
Gold reached record-breaking levels in September, buoyed by a bumper US interest rate cut, fears of rising geopolitical conflict, and an import tax cut in India that has galvanised local demand.
Red Sea gives shipping an Uber-style price surge
Anyone who has tried to secure an Uber at a busy time of day will have experienced the ride-hailing app’s least appealing feature: surge pricing. Too many punters and too few available cars mean the cost of getting from A to B spikes. Something similar is currently afflicting the global shipping sector.
EU, China open talks over EV tariffs
EU and China trade chiefs held “candid and constructive” talks on Saturday over plans from Brussels to ramp up tariffs on Chinese electric cars, and the two sides will hold further consultations, the EU said.
Eurozone business activity growth slows sharply in June
The growth of business activity in the eurozone slowed down in June after the manufacturing sector posted its biggest decline in six months, a key survey said Friday.
EU sanctions target Russian gas for first time
European Union countries agreed on a 14th package of sanctions against Russia over its war in Ukraine, diplomats said on Thursday, including their first restrictions on Russian gas.
Global tensions hit investments again in 2023: UN
Worldwide foreign direct investment fell for a second consecutive year in 2023 amid a global economic slowdown, coupled with swelling trade and geopolitical tensions, the United Nations said Thursday.
Oil stable above $85
Brent oil futures were steady on Thursday, hovering slightly below seven-week highs as the market awaited US inventory data.
Germany warns of trade war over EU’s China EV tariffs
The EU’s threat to hit Chinese electric cars with additional tariffs following an anti-subsidy probe risks a “trade war”, Germany said Wednesday, as the country’s auto giants warned the move would backfire.
EU to impose tariffs of up to 38% on Chinese EVs
The European Commission notified car makers on Wednesday that it would apply additional duties of up to 38.1 percent on imported Chinese electric vehicles from next month, a move likely to draw possible retaliation from China.
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.
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.