Europe

Sterling rallies for 3rd day after BoE bond buys; U.S. dollar down

Reuters | September 29, 2022

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Sterling rose sharply in volatile trading on Thursday, rallying from record lows hit on Monday, after the Bank of England conducted a second day of bond buying to stabilize financial markets. The pound posted its largest one-day percentage gain since March 2020 and last traded at $1.1076, up […]

Group of countries to push EU for gas price cap -letter

Reuters | September 26, 2022

By Kate Abnett BRUSSELS (Reuters) – A group of European Union countries want to push Brussels to produce plans this week for a bloc-wide cap on the price of gas, according to a draft letter seen by Reuters. The EU proposed a package of emergency measures to tackle soaring energy prices earlier this month, but […]

Oil prices down, investors expect big Fed rate hike

Reuters | September 20, 2022

By David Gaffen NEW YORK (Reuters) -Oil prices dipped on Tuesday, following other risk assets lower, as the dollar stayed strong and investors anticipated more central bank interest-rate hikes designed to quell inflation. The U.S. Federal Reserve is likely to raise interest rates by another 75 basis points on Wednesday to rein in inflation. Those […]

Industry says EU plan to tackle energy crisis falls short

Reuters | September 16, 2022

By Kate Abnett BRUSSELS (Reuters) -Industry groups have warned the European Union’s package of emergency measures to bring down energy costs does not go far enough, and they urge Brussels to do more to tame gas prices. The European Commission on Wednesday proposed cuts in electricity use and applying windfall-profit levies on energy firms, which […]

Stocks struggle, oil down, on rate and recession fears

Reuters | August 31, 2022

By Huw Jones and Koh Gui Qing NEW YORK (Reuters) – World stocks fell again on Wednesday, as expectations that central banks on both sides of the Atlantic will likely raise borrowing costs again next month soured sentiment and stoked recession fears, which dragged oil prices below $90 a barrel. Wall Street struggled to hang […]