Europe
Powell believes that the current economic situation creates barriers for real estate developers. Powell: Current wage growth is incompatible with 2% inflation. However, we don't want to slow the rate of wage growth. We need more "sustainable" measures. Lower inflation will get the economy back on
Europe
Action is expected to combat "fragmentation" in the currency bloc, trading data show. As of 1 p.m., the euro to dollar exchange rate is rising to $1.0533.
Bank
The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising
Bank
The U.K. has unveiled a bill canceling part of the Brexit agreement it signed with the European Union. There are risks of a trade war between the parties, as well as additional threats to Johnson's political position. Under the provisions of the bill, Britain no longer plans
Europe
The chancellor noted that Germany cannot currently afford lengthy planning and permitting processes for renewables. Scholz added that energy policy is now equivalent to the country's security policy.
Finance
The Hungarian authorities have adopted prohibitive measures for foreigners wishing to fill up their cars at gas stations in the country. The Hungarian authorities explained this measure by the fact that "gasoline tourism has flourished in the country, which has jeopardized the uninterrupted supply. Gasoline prices are now frozen
Europe
* A rate hike in the EU could threaten a recession. However, a tighter ECB policy would allow the euro to recoup losses against the dollar, which could reduce imported inflation from the U.S.
Manufactures
"Gazprom writes that the provisions of the new presidential decree of May 4 clarify the scheme for settlements in rubles proposed in late March. It follows from the new decree that foreign currency will be translated into rubles through the National Clearing Center. "Gazprom argues that the procedure
IT
The tech giant will be accused of violating EU law in running Apple Pay. The company will receive large fines of up to 10% of global turnover if the charges are upheld. The claims against Apple relate to NFC or "near field communication" technology. Under the current system,
Finance
Russia's blackmail bets have failed. The big players have been in the market for years and know what to do, but several small European trading companies have started paying for Russian gas in rubles. Will this save Russia?
Europe
Also, official sources close to the discussion of the issue say that Germany is seeking a transition period in the embargo on Russian energy resources.
Europe
Brooks justifies his opinion with the fall of consumer confidence index in Germany below pandemic levels.