Exclusive: ECB union says staff losing faith in leadership over inflation, pay

Exclusive: ECB union says staff losing faith in leadership over inflation, pay

40% of ECB staff has low or no trust Two-thirds say confidence is damaged 63% worried about ECB’s ability to protect purchasing power FRANKFURT, Jan 18 (Reuters) – (This Jan. 17 story has been corrected to restore the dropped words in paragraph 11) European Central Bank staff are losing confidence in the institution’s leadership following … Read more

Hong Kong scraps most COVID rules, though masks still mandated

Hong Kong scraps most COVID rules, though masks still mandated

HONG KONG, Dec 28 (Reuters) – Hong Kong will cancel its stringent COVID-19 rules from Thursday, city leader John Lee said, meaning that arrivals will no longer need to do mandatory PCR tests while the city’s vaccine pass would also be scrapped. All measures would be cancelled on Thursday, apart from the wearing of masks … Read more

Russia explores buying stranded jets from Western leasing firms

Russia explores buying stranded jets from Western leasing firms

Some 400 jets worth $10 billion stranded by war $644 mln offered for 17 Aeroflot aircraft -letter Russian plan would use its National Wealth Fund Required EU approval not yet forthcoming -sources DUBLIN/LONDON, Dec 22 (Reuters) – Russian airlines have held exploratory talks with at least one major Western leasing firm about using state funds … Read more

Wall St closes slightly higher after four-day sell off

Wall St closes slightly higher after four-day sell off

BOJ policy shift knocks global sentiment Tesla falls 8% after brokerages cut PT Energy stocks lead gains on crude support Indexes up: Dow 0.28%, S&P 0.10%, Nasdaq 0.01% Dec 20 (Reuters) – Wall Street closed slightly higher on Tuesday after four sessions of declines, but investors fretted about weak holiday shopping and rising bond yields … Read more

Goldman to cut thousands of staff as Wall Street layoffs intensify

Goldman to cut thousands of staff as Wall Street layoffs intensify

NEW YORK, Dec 16 (Reuters) – Goldman Sachs Group Inc (GS.N) is planning to cut thousands of employees to navigate a difficult economic environment, a source familiar with the matter said. The layoffs are the latest sign that cuts are accelerating across Wall Street as dealmaking dries up. Investment banking revenues have plunged this year … Read more

ECB slows rate hikes but pledges more to keep up inflation fight

ECB slows rate hikes but pledges more to keep up inflation fight

ECB raises rates by 50 bps, signals similar hikes QT to start in March Euro zone recession looms Inflation risks skewed to upside FRANKFURT, Dec 15 (Reuters) – The European Central Bank eased the pace of its interest rate hikes on Thursday but stressed significant tightening remained ahead and laid out plans to drain cash … Read more

Exclusive: Musk’s banks to book Twitter loan losses, avoid big hits

Exclusive: Musk’s banks to book Twitter loan losses, avoid big hits

NEW YORK, Dec 13 (Reuters) – Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans this quarter, but they are likely to do so in a way that it does not become a major drag on their earnings, according to three sources with … Read more

Cryptoverse: Jump or slump? $30k or $5k? Play the bitcoin roulette

Cryptoverse: Jump or slump? $30k or $5k? Play the bitcoin roulette

Dec 13 (Reuters) – Plucky bitcoin’s been holding steady since seeing off the chaos of the FTX collapse, gathering its strength to rally towards the dizzy heights of $30,000 in 2023. Battered bitcoin’s been unresponsive since being clobbered by the FTX collapse, taking in a deep ragged breath before plunging towards the depths of $5,000. … Read more

Britain reviews financial rules to bolster City’s global clout

Britain reviews financial rules to bolster City’s global clout

Britain says high standards will be maintained UK flags reviews in financial-crisis era reforms London faces new competition from EU centres Consultation on digital pound planned LONDON, Dec 9 (Reuters) – Britain set out a raft of measures on Friday to bolster the City of London’s role as a global financial centre, under strain since … Read more

Oil gives up the year’s gains, closing at 2022 low

Oil gives up the year’s gains, closing at 2022 low

Brent crude closes at its lowest level this year U.S. fuel stocks build more than expected China’s relaxation of COVID curbs to support demand Investors wary over recession warnings, rate hike outlook HOUSTON, Dec 7 (Reuters) – The price of oil fell to its lowest level this year on Wednesday, forfeiting all of the gains … Read more