Author: Euronews

The Bank of England has held the interest rate at 5.25%, with one dissent by Swati Dhingra advocating for a 0.25% cut. Projections see inflation dipping below the target in Q2 2024. ADVERTISEMENTIn its latest policy meeting, the Bank of England (BoE) has opted to maintain the Bank Rate at 5.25%, as widely expected, envisioning a decline in inflation and a modest rise in economic growth in the upcoming quarter.Eight members voted in favour of the decision to keep the rate unchanged. Notably, the BOE highlighted its intentions to keep monetary policies restrictive enough to ensure that inflation falls back…

Sweden, Denmark and Finland may be among the happiest nations on earth, but their voters don’t seem too content with Green or Liberal politicians. Source link

CEZ said the profit exceeded its initial goal due to additional gains from commodity trading and reliable nuclear power plant production. ADVERTISEMENTThe Czech power company CEZ said Thursday its 2023 net profit reached 29.6 billion Czech crowns (€1.17 billion), down more than 63% from the previous year, which saw record profits.The country’s main electricity producer attributed the decline to a windfall tax on profits introduced as prices for energy soared.“Despite the extraordinary levy on excess revenues from generation, in 2023 we achieved the highest profit in the last 10 years, with the exception of the extraordinary year 2022,” CEZ chief…

An economic freeze on the driver in response to the Ukraine invasion wasn’t justified merely because he was the son of Russian oligarch Dmitry Mazepin, judges said. Source link

The EU is edging closer to a decision about using the interest made on the frozen foreign reserves of Russia’s Central Bank to aid Ukraine. Source link

Exclusive Ipsos polling for Euronews shows non-affiliated parties could have a defining stake in the arithmetic – and votes – of the future European Parliament. ADVERTISEMENTParties that are currently not affiliated to any of the European Union’s seven political groups are projected to clinch 68 of the European Parliament’s 720 seats in June’s election, according to a new Euronews poll unveiled yesterday (19 March).These parties, which come from all sides of the political spectrum, could choose to sit in the parliament’s non-inscrit group (French for non-attached) – which harbours independent members as well as members of non-affiliated parties – or join…

Ireland is home to hundreds of US companies but the rising cost of property is proving to be a complication for business. Source link

European liberals have put forward not one but three names to lead their campaign for the elections to the European Parliament. ADVERTISEMENTMarie-Agnes Strack-Zimmermann, a German politician who chairs the Bundestag’s defence committee, will be joined by two sitting MEPs, Sandro Gozi and Valérie Hayer, in a so-called “Team Europe” that would represent the liberal family in the EU-wide poll, scheduled to take place between 6 and 9 June.The unconventional move, officially unveiled during the party’s kick-off event on Wednesday evening, is a direct challenge to the Spitzenkandidaten system under which each party is expected to nominate one lead candidate to preside over…

Germany’s commercial real estate crisis could mean trouble for the country’s banks due to their high exposure to the sector. ADVERTISEMENTEurope’s rapidly deteriorating commercial real estate crisis could potentially impact its banks as well. Back in July 2023, European banks had about €1.4 trillion tied up in loans to the commercial property sector, according to the European Banking Authority (EBA).Germany has been particularly hit, especially due to the country currently dealing with the deepest real-estate crisis in several years. This is mainly due to increased property developers seeing higher costs of borrowing, following soaring interest rates.This in turn has led to…

Windfall revenues from hundreds of billions in central bank assets held at Euroclear Belgium set to help arm and reconstruct the war-torn nation. Source link