LONDON, July 8 Reuters British energy regulator Ofgem is proposing reforms to wholesale electricity markets to reduce Britain39;s reliance on gas imports and accelerate the transition to lowcarbon energy supply, it said on Friday. Last year, the government set out plans to increase offshore wind capacity to 50 gigawatts GW by 2030 and increase solar […]

FRANKFURT, July 8 Reuters A sudden jump in carbon prices coupled with floods and droughts this year would lead to losses of at least 70 billion euros 71.1 billion for the euro zone39;s largest banks, the European Central Bank said on Friday. The ECB said the estimate in its first climate stress test significantly understated […]

LONDON, July 8 Reuters The euro slipped on Friday after the release of a biggerthanforecast U.S. payrolls figure for June, while German 10year bond yields rose, tracking Treasuries. Nonfarm payrolls increased by 372,000 jobs last month, the Labor Department39;s employment report showed. Economists polled by Reuters had forecast 268,000 jobs added last month. The euro […]

LONDON, July 8 Reuters British employers slowed their hiring via recruitment agencies once again in June as vacancies increased at the weakest rate in more than a year, according to a survey that adds to signs that the labour market is losing some of its inflationary heat. In a report that the Bank of England […]

LONDON, July 8 Reuters Almost half of British people have cut back on food purchases as prices surge, while others are having to spend more on their shopping, according to official figures on Friday which show the scale of the current costofliving squeeze. British consumer price inflation hit a 40year high of 9.1 in May […]

ATHENS, July 8 Reuters Greece39;s annual consumer inflation jumped to 12.1 in June, its highest level in nearly three decades, boosted by surging costs of energy, transport and foods, data from statistics service ELSTAT showed on Friday. Inflation accelerated from 11.3 in May, according to ELSTAT. Monthonmonth consumer inflation rose 1.6. Greece39;s annual EUharmonised inflation […]

LONDON, July 8 Reuters Future Bank of England tests of how banks will cope with a net zero economy could focus on specific activities such as trading and also include individual results, a senior official said. In its first climaterelated stress test, the central bank found insurers and banks such as HSBC, Lloyds, Barclays and […]

MUMBAI, July 7 Reuters India has tweaked export policy for wheat flour and asked traders to secure permission before exporting the commodity, the government said in a notification published on Thursday. New Delhi banned wheat exports in midMay as a scorching heatwave curtailed output and domestic prices hit a record high. After the ban, demand […]

ROME, July 8 Reuters Italian industrial output fell 1.1 in May from the month before, in line with expectations, after three consecutive increases, data showed on Friday. April39;s data was revised down to show a 1.4 rise, originally reported as 1.6. May39;s 1.1 decline exactly matched the median forecast in a Reuters survey of 18 […]

May household spending posts surprise yy drop Spending down 1.9 mm in May vs forecast 0.8 TOKYO, July 8 Reuters Japan39;s household spending posted a surprise drop in May, falling for the third consecutive month as the global chip shortage hurt car sales in a worrying sign for the outlook of the world39;s thirdlargest economy. […]