BERLIN Reuters German retail sales tumbled more than expected in January as the COVID19 lockdown and the withdrawal of a temporary cut in sales tax hit consumer spending in Europes largest economy, data showed on Tuesday. The Federal Statistics Office said retail sales fell 4.5 on the month in real terms after an upwardly […]

British house price growth picked up unexpectedly last month, mortgage lender Nationwide said on Tuesday, defying expectations of a slowdown as finance minister Rishi Sunak readies new budget measures to boost the market. House prices rose 6.9 in annual terms in February from 6.4 in January, Nationwide said, above all forecasts in a Reuters poll […]

The European Central Bank has the flexibility to counter any undesired rise in bond yields, the banks vice president told a Portuguese newspaper after several policymakers called on the bank to act. We will have to see whether this increase in nominal yields will have a negative impact on financing conditions, de Guindos told Público […]

As British Finance Minister Rishi Sunak prepares to set out the countrys economic path to recovery, analysts are weighing the possibility of tax hikes and a nod to future fiscal tightening. The budget, due on March 3, comes as nationwide Covid19 restrictions are set to be gradually unwound over the coming months, culminating in full […]

Inditex staff in Spain say they are being forced out as the owner of fastfashion brand Zara rolls out its plan to shut up to 1,200 stores worldwide, despite a company agreement with Spanish unions to project jobs. The worlds biggest clothes retailer is closing smaller outlets while expanding flagship stores and the Spanish closures […]

Chinas rare earths, a group of 17 minerals used in military equipment and consumer electronics, are being undersold due to vicious competition domestically and face low resource utilisation, the countrys industry minister said on Monday. Prices for some rare earths in China, such as praseodymiumneodymium PrNd used in rare earth magnets have spiked to multiyear […]

DUBLIN, Feb 25 Reuters Ireland is targeting a return to full employment, where just about everyone who wants a job has one, no later than 2023, Deputy Prime Minister Leo Varadkar said on Thursday after data showed hours worked in the economy fell 8.5 last year. Irish businesses have been shut cumulatively for a longer […]

Looking to holiday in Greece or Spain? You could be waiting some time. European leaders are expected to say on Thursday that all nonessential travel needs to remain restricted as the Covid health situation remains serious across the continent, according to a document seen by CNBC. The European Unions 27 heads of state will gather […]

LONDON, Feb 24 Reuters When U.S. interest rates sneeze, Europe catches a cold. Market anxiety about the inflationary impact of the U.S. governments massive planned spending boost is driving up U.S. Treasury yields and undermining the dollar. That risks stifling Europes recovery with a stronger euro and relatively higher real borrowing rates, even though Europes […]

Britains jobless rate rose to 5.1 in the last three months of 2020, its highest in nearly five years but still lower than it would have been without a huge coronavirus jobs support scheme that finance minister Rishi Sunak looks set to extend next week. Separate data from the Office for National Statistics showed that […]