UK deeply disappointed by Honda’s decision to close plant

February 19, 2019

Britain on Tuesday said it was deeply disappointed by Honda’s decision to close its only British car plant. “The UK is one of the leaders in the development of these technologies and so it is deeply disappointing that this decision has been taken now,” Business Secretary, Greg Clark, said. “This is a devastating decision for […]

Germany narrowly escapes recession after flat growth in the fourth quarter

February 14, 2019

Germany has narrowly avoided a technical recession after it posted flat growth in the fourth quarter, raising concerns that Europe’s largest economy is continuing to slow down. Preliminary data showed growth of 0.0 percent in the fourth quarter from the previous quarter, Germany’s federal statistics office Destatis said Thursday, below a Reuters forecast of 0.1 […]

UK parliament rejects Brexit deal in historic vote

January 16, 2019

Britain’s parliament on Tuesday resoundingly rejected Prime Minister Theresa May’s Brexit deal, triggering a no-confidence vote in her government and plunging its plans to leave the EU into further chaos. MPs voted 432 to 202 against May’s plan for taking Britain out of the European Union, the biggest parliamentary defeat for a government in modern […]

Euro zone economy weaker than expected: ECB’s Draghi  

January 15, 2019

The euro zone’s economy is weakening more than expected and still needs “significant” support from the European Central Bank, ECB President Mario Draghi said on Tuesday. Investors have pushed back expectations for the ECB’s first interest rate hike since 2011 due to slowing growth in the euro zone and the rest of the world, which […]

EU Trade chief will continue talks with U.S.’s Lighthizer

January 10, 2019

The European Union’s trade chief, Cecilia Malmstrom, will continue talks with her U.S. counterpart on Thursday, after the two met earlier in the week in an effort to tamp down escalating commercial tensions, according to the European Commission. The EU said after the first meeting that it was preparing to ask its member governments for the green […]

British shoppers splurge over christmas as brexit chatter wanes

Chris IkosaJanuary 3, 2019

After British politicians took a break from Brexit negotiations over the Christmas period, some shoppers probably took their own break from worrying about the talks and spent more freely, according to Jefferies analyst James Grzinic. “As the political debate subsided, consumers appeared confident enough to spend more generously,” Grzinic wrote in a note that called […]

BoE says Brexit jitters worsen, sees inflation below target

December 20, 2018

The Bank of England said on Thursday that Brexit uncertainty had “intensified considerably” over the last month but falling oil prices were likely to push inflation below its 2 percent target soon, helping to support the economy. But there were signs of unease about the turmoil surrounding Britain’s divorce from the European Union. With less […]

European Bank acquires 8.7% stake in Lithuania’s Auga Group

Adesola AfolabiAugust 28, 2018

EBRD, European Bank

The European Bank of Reconstruction and Development (EBRD) has acquired 8.7 percent stake in AB Auga Group, one of Europe’s largest organic agricultural producers. EBRD acquired the stake by investing the sum of €9 million as part of a successful public equity offering, where Auga Group sold shares for a total amount of €36 million. […]

Turkey’s policy response insufficient to stabilize Lira, says Fitch

Businessam StaffAugust 20, 2018

Fitch

Turkey’s ‘incomplete policy response’ to the recent tumble in the lira was unlikely on its own to stabilise the currency and economy for a meaningful amount of time, Fitch Ratings said in a statement Friday The rating agency said the policy response was insufficient, and that Turkey’s policymakers need to boost the credibility of their […]