Recent inflation data showed a decline in headline inflation but wage growth is a still serious headache for the ECB.
UK inflation holds steady at Bank of England’s 2% target, above expectations
The Office for National Statistics released inflation figures for June on Wednesday.
HSBC appoints Georges Elhedery as group CEO starting Sept. 2
Elhedery, who is the current chief financial officer, will replace outgoing head Noel Quinn in September.
IMF upgrades UK growth forecast in another boost to new Labour government
The upgrades come after two years of stagnation, with the U.K. falling into a shallow recession in the second half of 2023.
Deutsche Bank criticized by German regulator for financial reporting error
Deutsche Bank incorrectly disclosed deferred tax assets in its 2019 financial statement, German regulator BaFin said Tuesday.
Britain sees low-alcohol beer sales boom during Euros soccer championship
No and low-alcohol beer sales spiked 38% on game days, research firm Kantar said.
Protests will ‘absolutely’ spread if European cities don’t address overtourism, says UNESCO official
Protests in Spain will spread if officials fail to rebalance the interests of locals and travelers, UNESCO’s Peter Debrine told CNBC’s “Squawk Box Asia.”
Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates
Monday was Powell’s first public speaking appearance since the consumer price index report for June showed cooling inflation.
Burberry shares drop 16% after the luxury giant issues profit warning and replaces CEO
Shares in Burberry plunged Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend.
Elon Musk’s X deceives users and breaches online content rules, EU says
Elon Musk’s X is in breach of EU online content rules as the social media platform uses “dark patterns” to deceive users, the European Commission said Friday.