Europe News
Hungary’s Orban — a longtime Putin ally — stalls Europe’s Russian oil embargo
Hungary Prime Minister Viktor Orban — a longtime ally of Russian President Vladimir Putin — has said that ending Russian oil purchases would be an “atomic bomb” on Hungary’s economy. Attila Kisbenedek | Afp | Getty Images The European Union is struggling to approve a sixth round of sanctions against Russia with a few nations […]
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Finland, Sweden need to move now on NATO while Putin is preoccupied with Ukraine, former secretary general says
SALZBURG, Austria — Finland and Sweden need to join the North Atlantic Treaty Organization (NATO) now while Russia’s Putin is focused on Ukraine, the alliance’s former chief told CNBC. The two Nordic countries have been considering joining NATO in the wake of Russia’s unprovoked invasion of Ukraine. Becoming NATO members would represent a sharp U-turn […]
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ECB member pushes for quick move to raise rates, says Russia-Ukraine war could derail recovery
The European Central Bank should move quickly to raise interest rates in order to tackle soaring inflation, according to Finland’s central bank chief. His comments come as the U.S. Federal Reserve and the Bank of England’s tightening cycle intensifies pressure on the ECB to follow suit. “We have a conflict in pressures in monetary policy,” […]
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Separatist politician says Spain’s spy chief admitted legally hacking some phones
A leading Catalan separatist politician said Thursday that Spain’s top intelligence official acknowledged that her agency had hacked into the cellphones of “some” of the dozens of politicians reported to be targeted by spyware but she said it had proper judicial authorization. Gabriel Rufián, member of a Catalan pro-independence party, spoke after he participated in […]
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Finland has walked a political tightrope between Moscow and the West for decades. But that could be about to end
Finland’s Prime Minister Sanna Marin has said that her country will be deciding on whether to join NATO within weeks. This could also propel neighbouring Sweden to do the same. Ludovic Marin | Afp | Getty Images Finland could be about to announce that it’s joining the military alliance NATO — in what would mark […]
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Euro zone inflation hits record high for the sixth month in a row
Inflation in the euro zone remains well-above the ECB’s target, as energy and food prices soar. Bloomberg | Bloomberg | Getty Images Inflation in the euro zone has hit a record high for the sixth consecutive month, sparking further questions over how the European Central Bank will react. Headline inflation in the 19-member region reached […]
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Europe scrambles for natural gas solution as Putin squeezes supply
EU Commission President Ursula von der Leyen said this latest aggressive move by Russia is another reminder that we need to work with reliable partners, and build our energy independence. Thierry Monasse | Getty Images News | Getty Images The European Union is racing to find alternative suppliers of natural gas after Russia’s Gazprom halted […]
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Euro sinks to five-year low on energy supply, slowdown fears
The euro traded almost 0.4% against the U.S. dollar to a level not seen since 2017. This after Gazprom decided to cut gas supplies to Poland and Bulgaria. Kinga Krzeminska | Moment | Getty Images The euro tumbled against the U.S. dollar Wednesday morning as investors grew increasingly concerned with energy supply and a potential […]
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Credit Suisse reports quarterly loss, reshuffles management team as litigation costs bite
One of the biggest challenges for Credit Suisse this quarter was litigation costs. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse on Wednesday reported a net loss for the first quarter of 2022 and announced a management reshuffle, as the Swiss lender struggles with litigation costs and the fallout from the Russia-Ukraine […]
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Deutsche Bank posts seventh straight quarter of profit, warns of increasing cost pressures
Bloomberg | Bloomberg | Getty Images Deutsche Bank reported Wednesday a net profit of 1.06 billion euros ($1.13 billion) for the first quarter of the year. Analysts had forecast a figure of 1.01 billion euros for the three-month period, according to data from Refinitiv. On Mar. 11, Deutsche Bank said it would wind down its Russia […]
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