Market News

US President Joe Biden on Monday nominated Federal Reserve Chair Jerome Powell for a second four-year term. Lael Brainard, the Federal Reserve board member who was the top candidate for the job will be vice chair, said the White House.

European gas prices surged again on Wednesday after a delay in the approval process for a major new pipeline from Russia, which according to German government sources might not be commissioned now, until March next year.

A surprise deal between the two biggest greenhouse gas emitters, China and the US has boosted the COP26 UN Climate summit as it entered into its two final days of bargaining to try and stop global warming from becoming a catastrophy.

The FED as widely expected, announced on Wednesday that it would start reducing its $120 billion in monthly purchases of Treasuries and mortgage-backed securities at a pace of $15 billion per month, with a plan to end the purchases altogether in mid-2022.

Greenhouse gas concentrations hit a record last year and the world is “way off track” in capping rising temperatures, said the United Nations on Monday. A report by the UN World Meteorological Organisation (WMO)…

Data on Wednesday showed that more expensive energy and services boosted inflation in the Eurozone as expected in September. Core inflation was also higher…

The European Union started selling its first ever green bond on Tuesday, reported Refinitiv news service, taking its first step to potentially becoming the biggest issuer of environmentally-friendly debt…

Soaring energy prices was a cause of concern among European leaders. In Europe, natural gas prices have climbed almost 600% this year on worries that current low storage levels will be insufficient for winter. The uncertainty over whether surging energy prices…

Germany’s Social Democrats who narrowly won Sunday’s national election, showed projected results and claimed a “clear mandate” to lead a government for the first time since 2005 ending 16 years of conservative led rule under Angela Merkel.

House prices, now excluded from euro zone inflation data, would have persistently raised consumer prices in recent years, a study published by the European Central Bank showed on Tuesday.

Underlying US Consumer prices increased at their slowest pace in six months in August as used motor vehicle prices tumbled, indicating that inflation has probably peaked, though it could remain high for a while amid the persistent supply constraints.

The European Central Bank signalled on Thursday it will trim the emergency bond purchases a notch over the coming quarter. The ECB pulled out all the stops last year as COVID-19 impacted the economy but with the growth and inflation now rebounding…