Currencies

China overtakes US as Germany's top trading partner

BERLIN -China overtook the U.S. as Germany's largest trading partner in the first eight months of 2025, regaining the top spot as higher tariffs weighed on German exports to the United States,...

Sterling falls after UK inflation unexpectedly holds steady

LONDON -The British pound dipped against the dollar and the euro on Wednesday, after the annual rate of Britain's consumer price inflation unexpectedly held steady in September, undershooting...

Russian carmaker Avtovaz to keep four-day work week through 2025 to clear inventory

MOSCOW -Russia's top carmaker Avtovaz will stick to a four-day work week until the end of 2025 to clear excess inventory, Russian news agencies reported on Tuesday, citing CEO Maxim Sokolov. ...

UK's Reeves says Brexit and austerity hit harder than thought

LONDON -British finance minister Rachel Reeves said Brexit along with spending cuts by previous governments had weighed more heavily on the economy than originally thought as she readies a budget...

EBRD seeks to boost support for Ukraine's Naftogaz

LONDON -The European Bank for Reconstruction and Development is looking to step up its support for Ukraine's state oil and gas company Naftogaz following Russian attacks on the country's energy...

Trump vows to keep 'massive' tariffs on India until Russian oil imports cease

ABOARD AIR FORCE ONE -U.S. President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would...

EU seeks maritime declaration to inspect Russia's 'shadow fleet'

BRUSSELS -The European Union's diplomatic arm, the EEAS, is urging member states to back a maritime declaration that would allow EU nations working with flag states to arrange inspections on Russia's...

Pound struggles as investors flock to safe havens

LONDON -Sterling fell on Friday, as investors rushed to safe-haven currencies like the Swiss franc and Japanese yen in light of growing anxiety over the outlook for the U.S. economy, regional banks...

UK's bid to woo China faces backlash over spying claims and slim economic gains

LONDON -British Prime Minister Keir Starmer's attempts to improve ties with China leave him open to criticism at home that he is overlooking the threat to national security, while securing few of the...

Data darkness in US spreads a global shadow

TOKYO/WASHINGTON -The U.S. government shutdown that has turned off the official flow of data could begin clouding the view for policymakers in Japan and other countries where insight into the...

Sterling drops after UK data shows softer wage growth

LONDON -Sterling fell on Tuesday after data showed growth in average British earnings slowed slightly in the three months to August, suggesting the Bank of England may be able to continue cutting...

Russia suspends reduction to damper payment subsidy

MOSCOW -Russia on Sunday suspended until May a reduction in the fuel damper payment subsidy to oil refineries, Russian news agencies reported. The damper is a payment to refineries to...

Stocks, dollar tumble; Trump says he will raise China tariffs to 100%

NEW YORK -Stocks fell sharply on Friday, with the S&P 500 and Nasdaq suffering their biggest one-day percentage declines since April 10, while Treasury yields dropped and the U.S. dollar weakened as...

Stocks, dollar fall as Trump threatens increase in China tariffs

NEW YORK -Stock indexes fell sharply, with the Nasdaq down more than 2%, while Treasury yields fell and the U.S. dollar weakened on Friday after President Donald Trump said he was weighing a massive...

European Commission says existing rules address stablecoin risks

Europe's crypto rules do enough to address the risks around stablecoins, the European Commission said on Friday, signalling it does not see the need for major change after the European Central Bank...

Sterling skids to two-month lows as dollar shines

LONDON -The pound fell to two-month lows on Friday, set for its biggest weekly fall since a rout in UK bonds in January, largely driven by a resurgent dollar, which has vaulted higher as political...

Bank of England warns of 'sharp correction' in markets if mood sours on AI or Fed

Global financial markets could tumble if investors' mood sours on the prospects for artificial intelligence or the independence of the U.S. Federal Reserve, the Bank of England warned on Wednesday. ...

Revolut co-founder Storonsky leaves UK to move residence to UAE

Billionaire Nikolay Storonsky, the CEO and co-founder of financial technology business Revolut, has changed his residence from the UK to the United Arab Emirates, according to filings in Britain's...

Sluggish summer brings down forecast for tourism growth in Spain

MADRID -Growth in Spain's tourism industry has slowed down sharply, driven by weaker spending by European and U.S. visitors, and its contribution to this year's economic growth will be weaker than...