The European Central Bank tightened monetary policy again and raised interest rates to the highest level in a decade for the third consecutive meeting. The bank, which sets monetary policy for the 19 countries that use the EUR, raised the deposit rate by 75 basis points to 1.5%, which is a record rate since 2009….
The German economy will not be able to avoid recession next year. However, this does not imply that the country will fall into a deep financial crisis. The prediction was announced by the head of the largest German financial institution – Deutsche Bank, Christian Sewing, at the annual meeting of the International Monetary Fund and…
The European Bank for Reconstruction and Development (EBRD) has moved its headquarters from the London Stock Exchange to Canary Wharf, – the information was written on the official website of the EBRD. According to reports, more than half of London’s 2,800 employees have already moved into the top 13 floors of the state-of-the-art Five Bank…
The giant blue statue of the euro in the heart of Frankfurt’s financial district has a new sponsor. According to Reuters, the future of the statue was endangered when the banks responsible for its maintenance refused to finance it. The statue’s owner, the Frankfurt Cultural Committee, has identified a new sponsor, saving the 14-meter-tall object…
At the end of September, a meeting of EU energy ministers is planned. They will discuss the current energy crisis. The European Commission is pushing forward the idea of imposing the so-called windfall tax, i.e. tax on windfall profits. This idea has been criticized by experts. On September 30, an extraordinary meeting of EU ministers…
The European Central Bank (ECB) raised interest rates unprecedentedly and hinted at further increases in the future. The ECB raised the rate on deposits from 0 to 0.75%, and the refinancing rate to 1.25%, the highest level since 2011. Rates are expected to rise in October and December as well. Although the EU economy is…
Most of the branches of Credit Suisse, the leading Swiss investment bank, are at risk of collapse due to a drop in income in the first half of this year. Bloomberg reports that up to 2/3 of the bank’s branches may be closed in the worst case. According to it, the investment bank could not…
The list of crises threatening businesses is growing every day. As it turned out, among the future crises that business leaders must prepare their companies and organizations to deal with, the economic impact caused by climate change was included. Moreover, experts call on leaders to take immediate action. However, in addition to climate change, the…
The Ministry of Agriculture of France predicts the recovery of the country’s wine production after the agricultural sector was hit by the frosts of 2021. However, there is still a threat of a reduction in the volume of production due to drought in the country. This year, in most regions of France, compared to last…
Italy plans to approve a new aid package worth about 14.3 billion euros ($14.5 billion) to help protect businesses and households from rising energy and consumer prices. The scheme, one of Prime Minister Mario Draghi’s last major moves ahead of next month’s national election, is on top of around 33 billion euros budgeted since January…
