Economic momentum rides high in the UK & EU despite pandemic woes.
Britain’s economy unexpectedly regained momentum in October, despite surging costs and mixed consumer signals, according to surveys on Friday that could tempt the Bank of England to raise interest rates for the first time since the pandemic.
The US dollar edged lower on Friday and is set for a second consecutive week of decline as news that heavily indebted property firm China Evergrande Group had averted a default buoyed appetite for risky assets.
A key market gauge of euro zone inflation expectations rose on Friday to 2%, the ECB’s inflation target, for the first time in seven years, putting pressure on the central bank as it weighs how to proceed with stimulus when its pandemic-era support ends.
White House officials are gearing up for a virtual meeting between President Joe Biden and Chinese leader Xi Jinping they hope will show the world Washington can responsibly manage relations between the rival superpowers, people familiar with the matter say.
The European Union has postponed the next round of free trade talks with Australia for a second time, the Australian trade minister said on Friday, amid simmering anger over Canberra’s decision to cancel a $40 billion contract with France.
|A global trade union for the services sector on Friday urged European authorities to widen their antitrust investigation of Amazon.com Inc to assess if the company engaged in creating knockoff goods and rigging search results on its platform.|
|American Express Co. on Friday reported a higher profit that topped Wall Street estimates for the fourth straight quarter, underpinning a recovery in spending from consumers emboldened by an easing of COVID-19 restrictions.|
|German automaker BMW’s first sales-ready battery electric i4 models rolled off production lines at its main plant in Munich on Friday, as the company expands its electric offering under industry-wide pressure to reduce emissions.|