European Central Bank

FRANKFURT, Germany | German financial center of Frankfurt unveils new ‘Old City’

FRANKFURT, Germany — Germany’s financial capital of Frankfurt has unveiled its new “Old City” — 35 buildings reproduced in part an area that was destroyed during World War II bombings. Mayor Peter Feldmann officially opened the 200 million-euro ($234 million) project on Friday, declaring that “we are giving the city its heart and soul back.” … Continue reading FRANKFURT, Germany | German financial center of Frankfurt unveils new ‘Old City’

LONDON | Underlying inflation in eurozone remains stubbornly low

LONDON— Underlying inflation across the 19-country eurozone remains stubbornly low, official figures showed Friday, in what is likely to be a disappointment to policymakers at the European Central Bank who have been predicting a pick-up. Statistics agency Eurostat said Friday that the core rate of consumer price inflation, which strips out volatile items like energy … Continue reading LONDON | Underlying inflation in eurozone remains stubbornly low

SINGAPORE | World shares mixed in face of possible US-China tariffs

SINGAPORE— Global markets were mixed on Friday as traders mulled over the effects of possible U.S. tariffs on $200 billion in Chinese goods in a simmering trade dispute. KEEPING SCORE: In Europe, France’s CAC 40 added 0.1 percent to 5,250.38, while the FTSE 100 index of leading British shares gave up 0.2 percent to 7,303.17. … Continue reading SINGAPORE | World shares mixed in face of possible US-China tariffs

FRANKFURT, Germany | New speculation on successor to European bank chief Draghi

FRANKFURT, Germany  — A German news media report has stirred new speculation about who will succeed Mario Draghi as head of the European Central Bank, one of the globe’s most powerful economic policy jobs. The Handelsblatt business publication, citing unnamed government sources, reported Thursday that Chancellor Angela Merkel is willing to drop plans to push … Continue reading FRANKFURT, Germany | New speculation on successor to European bank chief Draghi

ANKARA, Turkey | The Latest: Erdogan appeals for calm, currency drops further

ANKARA, Turkey  — The Latest on Turkey’s financial turmoil (all times local): 3:05 p.m. Turkish President Recep Tayyip Erdogan is appealing for calm as the country’s currency plunges, urging people to change foreign money into local lira. The lira tumbled about 10 percent on Friday to another record low as investors worry about Erdogan’s unorthodox … Continue reading ANKARA, Turkey | The Latest: Erdogan appeals for calm, currency drops further

ANKARA, Turkey | The Latest: Euro sags on concern over impact from Turkey

ANKARA, Turkey  — The Latest on Turkey’s financial turmoil (all times local): 11:40 a.m. The euro sagged to a 13-month low against the dollar amid worries about the impact of financial market turmoil in Turkey. The 19-country currency fell 0.7 percent to trade at $1.1450 in morning trading in Europe. The dollar, which traders buy … Continue reading ANKARA, Turkey | The Latest: Euro sags on concern over impact from Turkey

LONDON | UK central bank raises interest rates despite Brexit worries

LONDON  — The Bank of England raised its main interest rate Thursday for only the second time since the 2008 financial crisis as it weighed conflicting signs about the economy and growing concerns about Brexit. The bank’s nine-member Monetary Policy Committee voted unanimously to raise the rate from 0.50 percent to 0.75 percent, the highest … Continue reading LONDON | UK central bank raises interest rates despite Brexit worries

FRANKFURT, Germany | European economy slows amid trade fears

FRANKFURT, Germany — Europe’s economy slowed further in the second quarter amid concerns over global trade disputes, official figures showed Tuesday. Growth in the 19 countries that use the euro currency eased to a quarterly rate of 0.3 percent, weaker than markets had expected and down from 0.4 percent in the first quarter. Fear that … Continue reading FRANKFURT, Germany | European economy slows amid trade fears