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.
Canada posts surprise GDP decline
Canada’s economy saw an unexpected 0.2 percent annualized decline in the second quarter, government data showed Friday, as housing investment and consumption slowed.
UK says inflation on track to come down
British finance minister Jeremy Hunt said on Saturday inflation was on track to halve by the end of 2023, vowing to focus on the goal as he laid out his priorities ahead of the reopening of parliament after the summer break.
Oil steadies
Oil was little changed on Monday after China took steps to bolster its flagging economy, though investors remained worried about the pace of growth as well as further US interest rate hikes that could dampen demand.
Russia may raise fish, seafood exports to China
Russia hopes to increase its marine product exports to China in the wake of China’s ban on Japanese seafood imports after the release of treated radioactive water from the wrecked Fukushima nuclear power plant into the sea.
UK energy bills to fall again
The price cap on energy bills for most British households is to fall again, regulator Ofgem announced on Friday, offering mild relief amid the ongoing cost-of-living crisis.
German business morale declines
German business sentiment fell for the fourth month in a row in August, a key survey showed Friday, deepening the sense of gloom in Europe’s biggest economy.
Investors see long wait for economic boon
The expansion of the BRICS group of developing countries could provide a lifeline to capital-starved new entrants Iran and Argentina, but investors and analysts say a broader economic boon for the bloc’s members is far from certain.
Oil price steadies
Oil prices steadied after earlier declines on Thursday caused by disappointing economic data from key economies, with investors awaiting a speech by US Federal Reserve Chair Jerome Powell on Friday for clues on interest rate moves.
UK economy on course to shrink
Britain’s economy looks on course to shrink during the current quarter and risks falling into a recession, as a survey on Wednesday showed a slump in factory output and broader weakness in the face of higher interest rates.
Oil price dips amid cautious trading
Oil prices dropped on Wednesday, as traders were cautious ahead of potentially gloomy manufacturing data and an annual meeting at Jackson Hole, where heavy-hitter central bankers including from the United States will talk interest rates.
