Vienna power firm denies speculating in futures as it seeks state loan
VIENNA (Reuters) – Vienna’s main power company, which has asked the federal government for billions of euros in credit to ..
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Near 50-year high German inflation strengthens case for larger ECB rate rise
BERLIN (Reuters) -German inflation rose to its highest level in almost 50 years in August, beating a high set only three months earlie..
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Explainer-Why Russia drives European and British gas prices
By Susanna Twidale LONDON (Reuters) – The Nord Stream 1 pipeline that transports gas from Russia to Germany will undergo mainten..
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Carrefour CEO says inflation crisis turning consumers into penny-pinchers
PARIS (Reuters) – Cost-conscious French consumers are ditching fish, buying cheaper meat and snubbing organic food to save money..
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ECB must swiftly normalise rates; neutral may not be enough, Knot says
(Reuters) -The European Central Bank must swiftly normalise interest rates as inflation could still go higher and lifting rates to the..
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Exclusive-Iraqi Kurdistan’s oil output could halve without investment – documents
By Amina Ismail and Maha El Dahan ERBIL (Reuters) – Oil production in the Iraqi region of Kurdistan could almost halve by 2027 i..
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German EU-harmonised consumer prices up 8.8% y/y in August
(Reuters) – German consumer prices, harmonised to compare with other European countries, were up 8.8% on the year and rose by 0...
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EU sets sights on energy market reform as prices soar
By Kate Abnett BRUSSELS (Reuters) -The European Union is drafting emergency plans to intervene in its energy market, as pressure grows..
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Polish cabinet backs 2023 budget with 65 billion zloty deficit, PM says
WARSAW (Reuters) -The Polish government has approved a 2023 draft budget that envisages a deficit of around 65 billion zloty ($13.8 bi..
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Toyota’s July global vehicle output drops again, puts annual target in doubt
(Reuters) -Toyota Motor Corp said on Tuesday its July global vehicle production had fallen 8.6% year-on-year, missing its target for t..
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UK credit card borrowing rises by most since 2005 – BoE
By David Milliken LONDON (Reuters) – British credit card borrowing grew at the fastest pace since 2005 in the 12 months to July,..
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Russia’s Ozon opens Turkish office to help consumer goods flow to home market
MOSCOW (Reuters) – Russian e-commerce firm Ozon said on Tuesday it would open a local office in Turkey and make it easier for co..
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China’s big cities, from Dalian to Shenzhen, ramp up COVID curbs
BEIJING/SHENZHEN, China (Reuters) -Several of China’s biggest cities imposed tougher COVID-19 curbs on Tuesday, further crimping..
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Britain’s bleak outlook sets sterling to downward spiral
By Joice Alves LONDON (Reuters) – Sterling edged lower on Tuesday against the euro and was set for its biggest monthly fall agai..
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France’s Iliad’s profits jump as sales grow, adapts to energy costs
By Valentine Baldassari (Reuters) -French telecoms firm Iliad reported higher half-year core earnings on Tuesday, driven by growth in ..
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Baidu revenue contracts but beats estimates on cloud business growth
(Reuters) -China’s search engine giant Baidu Inc beat quarterly revenue estimates on Tuesday, underpinned by growth in its cloud..
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Australia demands Apple, Meta, Microsoft share anti-abuse steps, threatens fines
By Byron Kaye SYDNEY (Reuters) – An Australian regulator sent legal letters to Facebook owner Meta Platforms, Apple Inc and Micr..
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Goldman warns UK inflation could top 20% as recession nears
LONDON/HONG KONG (Reuters) -Inflation in Britain could exceed 20% early next year if spiralling gas prices fail to come down, economis..
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Equinor, Wintershall Dea eye pipeline to capture CO2 under North Sea
OSLO (Reuters) – Equinor and Wintershall Dea will jointly develop carbon capture and storage projects, the oil firms said on Tue..
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UK pubs warn of mass closures without state support on energy bills
LONDON (Reuters) – Britain’s pub and brewing industry on Tuesday called on the government to outline an urgent support pac..
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Spain August 12-month inflation slows to 10.4% YoY; oil gives a break
(Reuters) – Spanish domestic consumer prices have eased despite remaining high, mainly due to lower fuel prices against a rise i..
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Less than 10% of German gas levy to go to firms that don’t need it, says Habeck
BERLIN (Reuters) – Only a small part of a gas levy on German consumers will benefit companies that are not in danger of a liquid..
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Rouble firms in early Moscow trade, Russian stocks hit 2-month high
(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW (Reuters) R..
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Switzerland’s engineering sector urges country to start energy saving now
ZURICH (Reuters) – Switzerland’s mechanical and electrical engineering sector said on Tuesday that businesses and househol..
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Banks lift European bourses as rate hike, recession fears grow
By Anisha Sircar (Reuters) -European shares rose on Tuesday following a two-day slump as banking stocks boosted bourses on the back of..
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O’Grady to return to Bank of Ireland as CEO – Irish Times
DUBLIN (Reuters) – Bank of Ireland’s board has selected the group’s former chief financial officer Myles O’Gra..
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Parched UAE turns to science to squeeze more rainfall from clouds
By Abir Ahmar ABU DHABI (Reuters) – As a twin-turboprop aircraft takes off under the burning desert sun with dozens of salt cani..
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Schlumberger, Subsea 7 and Aker Solutions to form subsea engineering firm
OSLO (Reuters) – U.S. engineering firm Schlumberger and Norway’s Aker Solutions plan to merge their subsea oil and gas con..
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PIMCO cut big position in Russia CDS by adding bonds in Q2
By Davide Barbuscia NEW YORK (Reuters) – PIMCO’s largest investment fund bought Russia government international bonds and ..
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Toyota’s July global vehicle output drops again, puts annual target in doubt
(Reuters) -Toyota Motor Corp said on Tuesday its July global vehicle production had fallen 8.6% year-on-year, missing its target for t..
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Rate fever propels dollar, wallops stocks and bonds
By Dhara Ranasinghe and Koh Gui Qing NEW YORK/LONDON (Reuters) – World stocks slumped on Monday as the growing risk of more aggr..
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EEX markets to remain open as power prices soar – statement
FRANKFURT (Reuters) – The European Energy Exchange said on Monday the bourse would remain open in its transparent price-setting ..
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Dollar touches 20-year high, but kept in check by euro, as rates in focus
By John McCrank and Dhara Ranasinghe NEW YORK (Reuters) -The dollar touched a fresh 20-year high on Monday, fuelled by hawkish comment..
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French PM tells firms to draft energy savings plans to avoid rationing
By Leigh Thomas PARIS (Reuters) -French Prime Minister Elisabeth Borne urged companies on Monday to draft energy savings plans by next..
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Czechs seek EU price cap on gas-for-power as energy bills soar
By Jan Lopatka and Jason Hovet PRAGUE (Reuters) -The Czech Republic will convene an emergency meeting of European Union energy ministe..
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Russia says economy to contract by less than 3% in 2022
MOSCOW (Reuters) -Russia’s economy will shrink by less than 3% in 2022, a much shallower contraction than initially expected, wh..
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EEX markets to remain open as power prices soar – statement
FRANKFURT (Reuters) – The European Energy Exchange said on Monday the bourse would remain open in its transparent price-setting ..
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