Sticky inflation is expected to prompt eurozone rate-setters to hold borrowing costs steady again Thursday, as they await clearer signs of a sustained easing of consumer prices before beginning to cut. The Frankfurt-based institution's governing council is widely expected to hold the benchmark deposit rate steady at a record four percent for a fourth straight meeting on Thursday.
Qatar has agreed to supply British firm Shell with natural gas for 27 years, the Gulf emirate's state-owned energy company announced on Wednesday. The deal with Shell is equal in length to an agreement with France's TotalEnergies announced earlier this month for a 27-year supply of natural gas.
After years earning bumper profits by producing parts for fossil fuel-powered cars, German suppliers to the crucial auto industry are struggling as the transition to electric mobility gathers pace. And with the transition moving at different paces around the world, industry players see an appetite for traditional combustion engine products for years to come.
Dutch tech giant ASML Wednesday posted slightly weaker sales and profits in the third quarter compared with the previous three months, amid a growing semiconductor trade spat between the West and China.
Vietnam's VinFast has grand ambitions of selling its electric vehicles in the United States and Europe to compete with the likes of Elon Musk's Tesla, but it is struggling to find buyers for its cars at home. With poor demand in Vietnam, and limited sales and bad press in the United States, VinFast may be producing more cars than it can sell, Guild said.
Asian equities retreated and oil prices rallied Wednesday on fears that the Israel-Hamas conflict could spill over into a regional war after a strike on a Gaza hospital dealt a blow to President Joe Biden's diplomatic drive. The Hamas-run Palestinian territory's health ministry blamed Israel for the hospital blast, but Tel Aviv said it was caused by a rocket misfired by Hamas ally Islamic Jihad.
China's economic growth slowed to 4.9 percent in the third quarter, official data showed Wednesday, as an unprecedented property crisis hit consumption and business activity in the country.
China's economic growth slowed to 4.9 percent in the third quarter, official data showed Wednesday, as an unprecedented property crisis hit consumption and business activity in the country. Retail sales, the main indicator of household consumption, rose a forecast-beating 5.5 percent on-year in September, according to official figures published on Wednesday by the NBS. sbr-tjx/je/dan
EU member states reached an agreement to reform its electricity market after months of sparring between France and Germany over state support for nuclear energy, the European Council said Tuesday. The 27 member states' agreement does allow for state support for existing nuclear power plants subject to compliance with EU rules on state aid.
Retail sales in the United States came in stronger than expected in September according to government data released Tuesday, supported partly by sales in the auto sector and at gasoline stations.
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