DUBLIN (Reuters) – European Central Bank policymaker Gabriel Makhlouf said that if the bank needs to increase interest rates by more than 25 basis points in September, it may be more or less than 50. The ECB said last week it would end quantitative eas…
UK says EU’s proposals will not solve post-Brexit problems
LONDON (Reuters) – Britain said it was disappointing the European Union had chosen to relaunch legal proceedings against it on Wednesday, saying the proposals set out by the bloc would not solve the problems with post-Brexit rules governing Northern Ir…
Exclusive-OMV’s Schwechat oil refinery at 20% capacity after accident
By Alexandra Schwarz-Goerlich (Reuters) – OMV’s 200,000 barrel per day Schwechat oil refinery is running at 20% capacity with repairs to fix a crude distillation unit set to take several weeks at least, OMV Chief Executive Alfred Stern told Reuters on …
ECB brings relief to battered bond markets with new tool
By Dhara Ranasinghe LONDON (Reuters) -Relief swept over battered euro zone bond markets on Wednesday as the European Central Bank said it would skew reinvestments of maturing debt to help more indebted members and will devise a new instrument to stop f…
ECB to devise new tool to help indebted euro zone members
FRANKFURT (Reuters) – The European Central Bank will skew reinvestments of maturing debt to help more indebted members and will devise a new instrument to stop fragmentation, it said on Wednesday, seeking to temper a market rout that has fanned fears a…
Bitcoin falls to fresh 18-month low as crypto meltdown deepens
By Tom Wilson LONDON (Reuters) – Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals. The world’s largest cryp…
Exclusive-BP beefs up hydrogen team in bet on fuel’s future
By Ron Bousso LONDON (Reuters) – BP is beefing up its hydrogen management team as the energy company prepares to accelerate investments in the low-carbon fuel which it believes will play a key role in the world’s shift away from fossil fuels. The revam…
European stocks jump as ECB holds surprise meeting
By Sruthi Shankar (Reuters) -European stocks rallied on Wednesday, with banks leading the gains, after the European Central Bank said its rate-setting Governing Council would hold an unscheduled meeting to discuss the recent sell-off in government bond…
Macron toughens tone on Russia before possible Ukraine visit
By Manuel Ausloos and Luiza Ilie CONSTANTA, Romania (Reuters) – President Emmanuel Macron voiced a tougher line on Russia on Wednesday after visiting French and allied troops at a NATO base in Romania, seeking to assuage concerns in Ukraine and among s…
Financial stocks lift FTSE 100; WH Smith climbs on strong outlook
(Reuters) – London’s FTSE 100 index climbed on Wednesday buoyed by gains in financial and consumer staple stocks after six straight sessions of losses, while shares of retailer WH Smith rose on strong annual outlook. The FTSE 100 was up 0.7% by 0713 GM…