Global Economy

12:10 AM Bank of Canada raises interest rates 0.25%
The Bank of Canada decided to raise its target for the overnight rate to 1.25%, in line with expectations
17 January 11:25 PM EBRD sets new record of finances in 2017
European Bank for Reconstruction and Development (EBRD) has reported a record lending of EUR 9.7 billion in 2017, compared to EUR 9.4 billion last year
17 January 10:04 PM Europe welcomes Britain to stay in EU
Donald Tusk said that the continent is still open for the United Kingdom to change its decision regarding its membership in the European Union
17 January 09:54 PM Algeria’s Sonatrach inks deal for oil refining with Vitol
Sonatrach has signed an agreement with Vitol Group to ship crude to Italy to be processed and sent back to Algeria as refined products.
17 January 07:11 PM GKN dismisses GBP 7.4bn acquisition bid
GKN has rejected a GBP7.4 billion hostile takeover from Melrose Industries
17 January 06:31 PM Cryptocurrencies slump, bitcoin below 10,000 for 1st time since December
The digital currencies extended sharp losses on Wednesday amid fears of escalated restrictions by government across the world
17 January 06:25 PM Standard Chartered launches fintech unit
Standard Chartered announced on Wednesday that it has established a business unit to invest in financial technology (fintech) and promote innovation
17 January 05:49 PM US industrial output rises 0.9%
American industrial production went up by 0.9% in December
17 January 05:33 PM Rising concerns regarding bitcoin as 1st futures expire
The first bitcoin futures that began trading on 10 December in the Chicago Board Options Exchange (CBOE) are due to expire on Wednesday
17 January 05:26 PM Goldman Sachs posts losses for 1st time since 2011
Goldman Sachs on Wednesday reported a loss in the fourth quarter of 2017, marking the first quarterly loss in six years
17 January 04:26 PM ECB should stop bond purchases - Bundesbank
The President of the Deutsche Bundesbank said that it would be appropriate for the European Central Bank to stop its bond purchases
17 January 04:12 PM UK government should do more to meet climate targets -CCC
Urgent actions should be taken by the UK government to meet climate targets, the Committee on Climate Change (CCC) said on Wednesday
17 January 02:51 PM Italy’s Ferrero acquires sweets brands from Nestle for $2.8bn
Nestle sold several of its US confectionery brands to Italy’s Ferrero
17 January 02:12 PM Euro area annual inflation slows in December
The final euro area consumer prices data showed a decline in December, in line with economists’ forecasts
17 January 02:03 PM US welcomes immigrants from everywhere, Trump says
Donald Trump says he wants immigrants from everywhere around the world to come to the US
17 January 12:53 PM European auto sales grow 3.4% in 2017
The Eurozone’s new passenger car sales rose for the fourth consecutive year in 2017
17 January 12:14 PM European stocks fall on banks sector Wednesday
European indices declined on Wednesday, hit by the weak performance in the banks sector
16 January 10:25 PM Brexit will save UK more than £350m/week - Minister
Britain will have even more money to spend on than the disputed pounds a week Brexiteers promised after the country leaves the EU
16 January 09:39 PM Americans with no health insurance up 3M
The number of Americans without healthcare insurance increased by 3.2 million people between 2016 and 2017, according to a Gallup poll released on Tuesday
16 January 09:06 PM NY Fed raises inflation, wages growth forecasts
Inflation expectations in the United States increased in December to the highest level in months
16 January 06:46 PM Citi stock jumps on above-forecast profits
Citigroup reported losses of $18.3 billion during the fourth quarter ended 31 December.
16 January 05:33 PM Empire State manufacturing falls for third straight month
Business activity continued declining in New York for the third consecutive month in December, hit by the drop seen in new orders
16 January 04:36 PM China’s offshore investments see first decline since 2009
China’s outbound direct investments (ODI) fell in 2017 for the first time in eight years as the government tightens regulations on capital outflows
16 January 03:20 PM Cryptocurrencies slump as china tightens crackdown
The digital currencies incurred a grave loss on Tuesday
16 January 02:31 PM UK PPI rises less than expected in December
Growth of the UK's Producer Price Index (PPI) slowed more than forecasts in December.