Category Archives: European Central Bank

German recession fears rise as industrial output tumbles – business live

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Rolling coverage of business, economics and markets as factories in Europe’s largest economy stutter

Eurozone growth came in unchanged on its third estimate: 0.2% growth in the second quarter of the year.

A minor beat on the headline year-on-year growth rate, remaining at 1.2% against 1.1% expectations, but otherwise no shocks.

Labour has confirmed that it will not vote for an election on Monday even if a bill intended to stop a no-deal Brexit passes before then.

If we vote to have a general election, then no matter what it is that Boris Johnson promises, it is up to him to advise the Queen when the general election should be. And given that he has shown himself to be a manifest liar, and someone who has said that he will die in a ditch rather than stop no deal, and indeed his adviser, [Dominic] Cummings, has been swearing and shouting at MPs saying they are leaving on 31 [October] no matter what, our first priority has to be that we must stop no deal and we must make sure that that is going to happen.

Related: Brexit: Labour confirms it will not vote on Monday for early election - live news

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Investors await signal on fresh ECB economic stimulus – business live

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Rolling coverage of the latest economic and financial news as Mario Draghi expected to prepare central bank for interest rate cuts

It will be too late for the ECB’s interest rates decision, but the latest measure of German business confidence from the influential Ifo Institute shows that morale has sagged more than expected in July.

The closely followed measure fell to a reading of 95.7 – well below the consensus expectations of 97.1.

Boris Johnson is planning to set out his “priorities for government” in his first appearance as prime minister in the house of commons – at about 10:30am BST.

Perhaps he can shed some more light on what will be happening by 31 October, the Brexit deadline.

Following Business Qs, there will be one government oral statement in the @HouseofCommons today:

The Prime Minister - Priorities for Government

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Christine Lagarde faces ECB test of legendary diplomatic skills

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European Central Bank provides an arena split between anti-austerians and expansionists

Christine Lagarde will take up the position of head of the European Central Bank as a self-confessed economic outsider who has preferred to emphasise her ability as a listener and tough negotiator during her seven years as managing director of the International Monetary Fund.

A lawyer by training, the former French finance minister is credited with turning around the Washington-based IMF after it was thrown into turmoil by the abrupt resignation of her predecessor Dominique Strauss-Kahn following unproven allegations of sexual assault and attempted rape.

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European Central Bank says Latvia’s ABLV failing, to wind up

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U.S. Interior Secretary Ryan Zinke has changed a proposed overhaul of his department with a new organizational map that more closely follows state lines instead of the natural boundaries he initially proposed. U.S. Interior Secretary Ryan Zinke has changed a proposed overhaul of his department with a new organizational map that more closely follows state lines instead of the natural boundaries he initially proposed.

European Central Bank officials cautious despite recovery

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Fans of President Donald Trump who use marijuana say Attorney General Jeff Sessions' move to tighten federal oversight of the drug is the first time they've felt let down by the man they helped elect. Missouri Gov. Eric Greitens acknowledges he was "unfaithful" in his marriage but denies allegations that he blackmailed the woman he had an extramarital affair with to stay quiet.

A Fresh Bailout Deal for Greece

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Greece and its international creditors have struck a deal that would allow the country to receive bailout funds in exchange for more cuts to government pensions and higher taxes. Under the terms of the agreement, Greece will, among other things, cut pensions in 2019 and reduce the amount at which taxes must be paid in 2020 in order to save 2 percent of gross domestic product.

Hans Tietmeyer, Former Bundesbank President, Dies at Age 85

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Former Bundesbank President Hans Tietmeyer, the last guardian of the German mark and one of the architects of Europe's single currency, has died. He was 85. "Hans Tietmeyer was an outstanding president, who always acted with a clear and firm hand that followed the goal of monetary stability," Bundesbank President Jens Weidmann said in the statement.

Asian stocks rise as Clinton, Trump argue economic policy

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This July 16, 2013, file photo, shows a Wall Street street sign outside the New York Stock Exchange. Major U.S. stock indexes edged mostly higher in early trading Wednesday, Oct. 19, 2016, as investors sized up the latest company earnings and new data showing residential construction slowed in the previous month.