British economy grows more than expected after Brexit voteBritain's economy grew faster than expected in the three months after its vote to leave the European Union, despite concern that uncertainty would weigh on business activity. The Office of National Statistics ...
Sterling and gilt yields rise after UK growth beats expectationsSterling hit a one-week high against the dollar and British bond yields surged to a post-Brexit peak after data showed the country grew at a faster than expected pace in the third quarter, reducing chances of an interest rate cut in the near term. Compared with the third quarter of last year, growth picked up to 2.3 percent, the strongest pace in more than a year, according to the preliminary figures from the Office for National Statistics.
Volkswagen posts 2.28 bn-euro profit one year after 'Dieselgate'
German auto giant Volkswagen posted net profit of 2.28 billion euros ($2.49 billion) for the third quarter and raised its full-year forecasts, turning the tide from a massive loss a year ago over its emissions cheating scandal. The group's profit for the three months ending September fell slightly short of the 2.45 billion euros forecast by analysts, but was a sharp improvement from the 1.73-billion euro net loss posted for the same period last year. The still incalculable costs of the affair -- including regulatory fines and legal costs -- pushed VW into the red for the first time in more than 20 years last year when it booked a loss of 1.6 billion euros due to the provisions it was forced to set aside.
Britain's mixed messages deepen Brexit rifts with EU
By Noah Barkin , Elizabeth Piper and Alastair Macdonald BERLIN/LONDON/BRUSSELS (Reuters) - In the hours before Theresa May stepped to the podium in Birmingham earlier this month to lay out her vision for a "fully independent, sovereign" Britain, she made a discreet round of telephone calls to European leaders. In the speech, May described the Brexit referendum in June as "the biggest vote for change this country has ever known." She promised to trigger divorce proceedings with the European Union by the end of March next year and she rejected the notion that Britain might opt for a deal similar to those of Norway or Switzerland ? two non-EU countries that adhere to the bloc's rules on free movement of people in exchange for privileged access to its lucrative single market.
IMF, US Treasury chiefs visit Gulf amid oil price slowdownOil-rich Gulf countries face further economic strain as crude prices remain low, requiring them to cut back spending and raise money other ways, the heads of the International Monetary Fund and the U.S. ...
Arrieta deals, Cubs awaken, top Indians to even Series at 1
Hundreds flee new earthquakes in Italy
Hundreds of people awoke in emergency shelters in Italy on Thursday after fleeing their homes following a series of strong quakes in the same region struck by a devastating tremor two months ago. After a night of heavy rain, rescuers workers were trying to assess the full extent of the latest disaster in central Italy, which toppled buildings and injured dozens. A series of aftershocks rattled the area through the night after two quakes with a magnitude of 5.5 and 6.1 struck on Wednesday evening and sent people fleeing their houses in terror.
Deutsche Bank makes profit, strengthens capital buffers
FRANKFURT, Germany (AP) ? Deutsche Bank, under pressure from an impending settlement with the U.S. Justice Department, reported 278 million euros ($303 million) in net profit for the third quarter as it strengthened its financial buffers against loss.
European shares up as banks reassure, dollar holds near highs
By Vikram Subhedar LONDON (Reuters) - Reassuring results from some of Europe's biggest banks gave financials a boost on Thursday and helped offset weakness in oil-related stocks, while higher bond yields underpinned the dollar. As corporate earnings continued to dominate headlines, growing expectations that the U.S. Federal Reserve will raise interest rates by the end of the year have kept gains in risky assets in check. Markets are now pricing in a 74-percent chance that the U.S. Federal Reserve will raise interest rates at its December meeting, according to CME Group's FedWatch tool, following a series of hawkish comments from Fed policymakers.
Clinton voices concern over AT&T-Time Warner mega-deal
White House hopeful Hillary Clinton said the proposed mega-merger of AT&T and Time Warner "raises questions and concerns" and merits further study. AT&T and Time Warner, home of CNN and HBO, have said the proposed $108.7 billion deal will benefit consumers as they gird for anti-trust challenges from politicians and regulators. "It raises questions and concerns, and they should be looked into," Clinton told reporters Wednesday.