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.
Oil steadies
Oil prices were little changed on Tuesday as investors remained downbeat on China’s economic malaise hobbling demand from the world’s top crude importer, limiting the impact of supply cuts.
Dollar shine fades
The dollar eased from recent 10-weak peaks on Tuesday as global risk appetite, hurt by a jump in US government bond yields and a weakening Chinese economy, staged a rebound.
German economy may stagnate again in Q3
Germany’s “lacklustre” economy will likely stagnate again in the third quarter, the Bundesbank central bank said Monday, as weak demand from abroad and high interest rates takes their toll on Europe’s industrial powerhouse.
Russia remains China’s top crude supplier
Russia remained China’s largest crude supplier in July, Chinese government data showed on Sunday, even as Russian shipments fall from all-time highs on narrower discounts and rising domestic demand crimps Russian exports.
Wet July dampens UK retail sales
British retail sales fell more than expected in July, official data showed Friday, with poor weather blamed for the setback as the country tries to revive its flagging economy.
China oil buying frenzy cools
China, the world’s top crude importer, is drawing on record inventories amassed earlier this year as refiners scale back purchases after Opec+ supply cuts drove global prices above $80 a barrel, traders and analysts said.
UK annual inflation drops to 15-month low
Britain’s annual inflation rate dropped sharply in July to a 15-month low, official data revealed Wednesday, off the back of lower energy prices and in line with economists’ expectations.
Russia tests digital rouble to bypass sanctions
Russia began testing its new digital rouble with consumers on Tuesday, in the hope blockchain technology will help it evade sanctions and tighten control over its citizens.
UK basic wage growth hits record
Basic wages in Britain hit a new record growth rate, figures showed on Tuesday, adding to worries for the Bank of England (BoE) about long-term inflation pressures even after 14 back-to-back increases in interest rates.
Global wealth projected to rise 38% by 2027
Global wealth, as measured in personal holdings of assets from real estate to stocks and shares, is projected to rise 38 percent by 2027, driven largely by emerging markets, a study published by Credit Suisse and UBS showed on Tuesday.
