Author: Press Room

© Reuters. European Central Bank policymaker and Governor of the Austrian National Bank Robert Holzmann addresses the media in Vienna, Austria, March 23, 2023. REUTERS/Leonhard Foeger/File Photo VIENNA (Reuters) – European Central Bank policymakers should discuss at their meeting next month whether to wind down bond reinvestments under the Pandemic Emergency Purchase Programme early, Austrian Governor Robert Holzmann said in remarks published on Friday. “My suggestion would be to reduce reinvestments step by step as of March,” Holzmann told Austrian newspaper Die Presse. Those reinvestments are slated to run until the end of 2024 but some policymakers have made the…

© Reuters. LONDON – Legal & General Group (LON:) plc (L&G) has completed a landmark £4.8 billion full buy-in with the Boots Pension Scheme today, marking the largest single UK pension risk transfer by premium size. This transaction ensures the financial security of all 53,000 scheme members and represents a significant milestone in the scheme’s de-risking journey that began in 2001. The deal, which has been in the making for over two decades of investment management services provided by L&G to the Scheme, was facilitated by strategic advisors and Aon (NYSE:), with legal counsel from Baker McKenzie, Sackers, Slaughter and…

© Reuters The energy sector is facing heightened uncertainty as disagreements among OPEC members over production quotas have led to a postponed meeting, stirring unease among oil traders. The internal conflict within the Organization of the Petroleum Exporting Countries (OPEC) has been a key factor in the recent struggle of Oil prices to surpass the critical technical resistance level of the 200-day Simple Moving Average (SMA), which currently lies in the $78-$74 range. Saudi Arabia has been vocal in its push for widespread production cuts across OPEC nations to stabilize prices, which they argue are being undermined by increased output…

Germany's GDP contracts 0.4% Y/Y in Q3

© Reuters DHAKA – Banks in Bangladesh are continuing to trade the US dollar at higher rates than those set by the Bangladesh Foreign Exchange Dealers Association (Bafeda) and the Association of Bankers, Bangladesh (ABB (ST:)), despite a recent directive to lower rates. On Wednesday, Bafeda and ABB reduced the dollar rate by Tk 0.5, setting the purchase price from exporters and remitters at Tk 110 and the selling price to importers at Tk 110.5. However, on Thursday, banks were buying remittances at Tk 122-123 and selling to importers at Tk 116-118, above the rates set by Bafeda and ABB.…

The eldest son of LVMH CEO Bernard Arnault will be stepping down as the CEO of Berluti.Bernard Arnault is the world’s third-richest man, and all five of his children work for LVMH brands.Arnault has previously expressed disdain for comparisons made between his family and HBO’s “Succession.” Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Antoine Arnault, the eldest son of LVMH CEO Bernard Arnault, will be stepping down as the CEO of Berluti, a luxury shoe brand under the LVMH umbrella.The executive reshuffle, announced by…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Zak Brown was arguably the biggest advocate of the crackdown on profligate spending by Formula One teams. But, two years after F1 implemented spending controls on teams, the McLaren Racing chief says the sport needs some leeway to invest in sustainability.“Sustainability’s not a competition,” Brown tells the Financial Times. “It’s something we all need to hold hands together on.”Brown says there are multiple facets to achieving sustainability, such as McLaren’s own use of recycled carbon fibre on its F1 cars.However, a major…

© Reuters. A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams/File Photo (Reuters) -Bank of England Chief Economist Huw Pill said it had to hold firm in its battle against inflation and it cannot afford to loosen tight monetary policy, the Financial Times reported on Friday. Pill said that the economy was seeing slow growth in activity and unemployment but that was largely supply-driven and not associated with the easing of inflationary pressures. He said that headline inflation had come down, which was largely “exogenously driven” as energy, food and…

© Reuters. The logo of Amazon is seen at the company logistics centre in Boves, France, October 6, 2021 REUTERS/Pascal Rossignol/File Photo LONDON (Reuters) – Workers and activists across Europe plan demonstrations against U.S. e-commerce giant Amazon (NASDAQ:) on Friday, aiming to disrupt its warehouses and prevent merchandise from reaching Amazon parcel lockers on one of the busiest shopping days of the year. On Black Friday, the day after the U.S. Thanksgiving holiday, many retailers slash prices to boost sales. Originally known for crowds lining up at big-box stores in the U.S., the event has increasingly moved online and gone…

© Reuters. Gold prices saw a slight increase today, with trading at $1992 as US markets took a break for Thanksgiving, resulting in lower trading volumes. The precious metal has been supported by a decline in US Treasury yields and a weakening of the US dollar, maintaining its position in the tight range of $1990-$2000. From the beginning of November, US Treasury bond yields have experienced a significant drop, decreasing sharply by over six percent or nearly thirty basis points. Concurrently, the US dollar has shown a marked decrease against other major currencies, with the DXY index falling from above…