Shares of Dollar Tree Inc fell 8% in premarket trading as the retailer cut revenue estimates for the year and gave lower profit estimates. Dollar Tree reported second-quarter sales of $6.77 billion, up from $6.34 billion a year ago, slightly below estimates of $6.79 billion. Dolla Tree earned $1.60 per share and net income of […]
Tag: International financial news
EKT Minutes: Interest rates increased by 50 bp. due to worsening inflation
A very large number of European Central Bank members agreed at the last meeting that it is appropriate to raise interest rates by 50 basis points, as suggested by chief economist Philip Lane, according to the minutes of the meeting released today. As mentioned, the increase by 50 m.v. was deemed justified due to the […]
Germany’s Ifo business confidence index worsened slightly in August
Business confidence in Germany worsened slightly in August as businesses grew more pessimistic due to rising costs and the threat of gas shortages. The Ifo institute’s business climate index fell to 88.5 in August from a revised figure of 88.7 in July, the institute’s data showed. Economists expected the index to reach 87.2 points. “An […]
Russian coal exports stopped due to European sanctions
Russian coal exports have effectively ground to a halt due to the European Union’s ban on entities within the bloc servicing shipments of the commodity anywhere in the world, according to Bloomberg. Suek JSC, Russia’s biggest thermal coal miner, has been unable to ship supplies since mid-August, according to people familiar with the situation who […]
France: Manufacturing sentiment worsened in August
Sentiment in the French manufacturing sector eased in August amid rising energy prices and slowing demand. French manufacturing sentiment stood at 104 on a monthly basis, down from 106 in July, according to national statistics agency Insee. Economists expected the index to reach 105 points. The decline in the key index was attributed to worsening […]
Germany: Resilient economy, GDP grew more than expected in the quarter
The German economy proved more resilient than initially estimated in the second quarter, growing 0.1% despite rising inflation and the war in Ukraine. Thursday’s data from the statistics office was better than estimates of stagnation in the quarter to June, though it will do little to ease concerns about the outlook for Europe’s biggest economy. […]
Korea: The central bank raised interest rates by 25 basis points
The Bank of Korea raised interest rates by 25 basis points, returning to its usual pace of tightening, as Governor Rhee Chang-yong made it clear that big rate hikes were no longer necessary in the fight against inflation. The central bank raised the seven-day repo rate by 25 basis points to 2.5%, in line with […]
The German government expects problems with coal and oil supplies
Germany’s government is worried about possible problems with coal supplies for power plants in the fall and winter due to low water levels in the Rhine River and oil supplies in eastern parts of the country, according to a document seen by Reuters. Europe’s largest economy is trying to reduce its dependence on Russian energy. […]
Romania will spend $3.27 billion to protect households and businesses from the energy crisis
Romania’s program to shield households and smaller businesses from soaring energy bills will cost about 16 billion lei ($3.27 billion), Energy Minister Virgil Popescu said Wednesday. He added that the coalition government is also considering extraordinary taxes across the energy supply chain. Romania has capped gas and electricity bills for households and most other consumers […]
Nigeria is seeking $10 billion to fund its energy transition plans
Nigeria aims to raise an initial $10 billion in funding to implement its energy transition plan ahead of the COP27 climate talks later this year, the country’s vice president said, according to Bloomberg. Africa’s most populous country needs at least an additional $10 billion annually and a total of $410 billion to meet its clean […]
