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☆ Banking crisis forces ECB policymakers to rethink rate hikes, but focus still firmly on inflation
▼ + stars: | 2023-04-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

A sign for the European Central Bank (ECB) outside the bank's headquarters in Frankfurt, Germany, on Thursday, Feb. 2, 2023. Alex Kraus | Bloomberg | Getty ImagesEuropean Central Bank policymakers are reconsidering the path of interest rate hikes in light of last month's banking turmoil, but remain committed to reining in core inflation. However core inflation — which excludes volatile energy, food, alcohol and tobacco prices — rose to an all-time high of 5.7%. But he said policymakers will be examining the data for signs that core inflation is coming down and the bank's medium-term inflation target of 2% is within sight. So yes we are worried about the core inflation not yet peaking," Scicluna said.

☆ Wes Anderson, Ken Loach among big names competing at Cannes Film Festival
▼ + stars: | 2023-04-13 | by ( Marie-Louise Gumuchian | ) www.reuters.com time to read: +2 min

[1/4] 72nd Cannes Film Festival - Photocall for the film "Sorry We Missed You" in competition - Cannes, France, May 17, 2019. REUTERS/Eric Gaillard/File PhotoApril 13 (Reuters) - Wes Anderson, Ken Loach, Todd Haynes and Wim Wenders are among the directors who will compete for the top prize at next month's Cannes Film Festival, where a spate of Hollywood stars will also premiere their latest works on the famed Croisette waterfront. At a press conference on Thursday, festival director Thierry Fremaux announced the line-up for the 76th edition of major cinema showcase from May 16-27. "It's a competition that will mix young filmmakers competing for the first time with veterans whose names and works we know," Fremaux said. Adventurer Indiana Jones will also return to the festival 15 years since his last appearance in Cannes.

☆ ECB policymaker says a 50-basis-point rate hike 'could be in the ballpark' at its next meeting
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB policymaker says a 50-basis-point rate hike 'could be in the ballpark' at its next meetingRobert Holzmann, ECB policymaker and governor of the Austrian National Bank, told CNBC that if the economic outlook changes, the central bank will change its approach to interest rates.

☆ Soccer–Sevilla fight back to draw with Man United
▼ + stars: | 2023-04-13 | by ( Lori Ewing | ) www.reuters.com time to read: +1 min

[1/5] Soccer Football - Europa League - Quarter Final - First Leg - Manchester United v Sevilla - Old Trafford, Manchester, Britain - April 13, 2023 Manchester United's Antony in action with Sevilla's Marcos Acuna Action Images via Reuters/Lee SmithMANCHESTER, England, April 13 (Reuters) - Manchester United conceded two late own goals to allow Sevilla to snatch a 2-2 draw in the first leg of their Europa League quarter-final at Old Trafford on Thursday. United were reduced to 10 men when defender Lisandro Martinez was carried off injured and Youssef En-Nesyri's stoppage-time header glanced off Harry Maguire into the goal to give Sevilla a huge lift ahead of next week's second leg. Sabitzer, who is on loan from Bayern Munich, netted his first European goal for United in the 14th minute, when he controlled a pinpoint pass from Bruno Fernandes and shot past keeper Bono. The Austrian doubled his tally seven minutes later, latching on to a fine pass from Anthony Martial and finishing well. Reporting by Lori EwingOur Standards: The Thomson Reuters Trust Principles.

☆ Where to watch Real Madrid vs. Chelsea live stream for free online
▼ + stars: | 2023-04-12 | by ( Brendan Griffiths | Senior Commerce Director | ) www.businessinsider.com time to read: +5 min

Don't miss out; take a look at our guide on where to watch a Real Madrid vs. Chelsea live stream for free. Where to watch Real Madrid vs. Chelsea in CanadaSoccer fans in Canada will need to stump up some extra cash to enjoy a Champions League live stream of Real Madrid vs. Chelsea tonight, as DAZN Canada holds the local viewing rights. Real Madrid vs. Chelsea free live streamThere are two free options available today. Another option to watch Real Madrid vs. Chelsea for free online is to tune into the Austrian channel, ServusTV, as it's showing a live stream free of charge. How to watch Real Madrid vs. Chelsea with a VPNSign up for a VPN if you don't have one.

☆ A top tip for central banks: talk less, smile more
▼ + stars: | 2023-04-11 | by ( Ben Winck | ) www.reuters.com time to read: +8 min

WASHINGTON, April 11 (Reuters Breakingviews) - Investors hang on central bankers’ every word, hoping to gain an edge for their next trade. But with consumer prices rising at the fastest pace in decades, central bankers can’t easily cut borrowing costs, either. Chatty central banks are a relatively new phenomenon. Investors are also more sensitive to central banks today than in years past. Still, being more careful about what’s said, and how it’s said, could help central banks better balance their priorities.

☆ Austrian banks unaffected by banking turmoil - finance minister tells NZZ
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

They are very well prepared," Brunner told Swiss newspaper Neue Zuercher Zeitung. He also defended Raiffeisen Bank International (RBI) (RBIV.VI) which has come under fire for continuing to operate in Russia despite the war in Ukraine. "As for RBI, the bank complies with all international sanctions," Brunner told NZZ. "Incidentally, there are other European banks that continue to operate legally in Russia. The minister also said Austrian inflation, which fell to an estimated 9.2% in March, was still too high and called on the European Central Bank to do more to contain price increases.

☆ Austrian banks unaffected by banking turmoil, finance minister tells Neue Zuercher Zeitung
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

They are very well prepared," Brunner told Swiss newspaper Neue Zuercher Zeitung. He also defended Raiffeisen Bank International (RBI) (RBIV.VI) which has come under fire for continuing to operate in Russia despite the war in Ukraine. "As for RBI, the bank complies with all international sanctions," Brunner told NZZ. "Incidentally, there are other European banks that continue to operate legally in Russia. "The European Central Bank (ECB) in particular can do something about this, as a member of the euro zone we are dependent on the ECB," Brunner said.

☆ Escape to a Grand Hotel… for $10 (Tip Included)
▼ + stars: | 2023-04-06 | by ( Tara Isabella Burton | ) www.wsj.com time to read: 1 min

I’VE ALWAYS had a weakness for elegant, old-world hotels. Maybe I’ve read too much Stefan Zweig, the Austrian novelist who set his work (like his 1927 novella, “Twenty-four Hours in the Life of a Woman”) in such lavish places. Or perhaps I’ve viewed “The Grand Budapest Hotel,” Wes Anderson’s 2014 confectionery pastiche, too many times. ); or a suite named after an obscure writer who stayed for one night in 1883. Rarely, though, have I slumbered in one of these old-world gems.

☆ Exclusive: Economic institutes forecast German GDP growth of 0.3% in 2023 - sources
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

BERLIN, April 4 (Reuters) - Five economic institutes are forecasting gross domestic product growth in Germany of 0.3% in 2023, up from a predicted contraction of 0.4% in autumn, two sources familiar with the data told Reuters. For 2024, the four German and one Austrian institutes forecast GDP growth of 1.5%, down from 1.9% previously. The economic institutes predict an inflation rate of 6.0% in 2023, before slowing to 2.4% in 2024. (This story has been corrected to fix 2024 GDP forecast to 1.9% from 1.7%, in paragraph 2)Reporting by Maria Martinez, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

The so-called Joint Economic Forecasts, to be presented in Berlin on Wednesday, expect a 0.1% expansion in gross domestic product in the first quarter. The five economic institutes which prepare the Joint Economic Forecasts predict GDP growth in Germany of 0.3% in 2023, up from a predicted contraction of 0.4% in the autumn, two sources familiar with the data told Reuters. The economics ministry will update its forecasts incorporating the results of the Joint Economic Forecasts this spring. The economic institutes predict inflation of 6.0% in 2023, before slowing to 2.4% in 2024. The Joint Economic Forecasts are prepared by the Ifo Institute, the Halle Institute for Economic Research, the Kiel Institute for the World Economy, the RWI – Leibniz Institute for Economic Research and the Austrian Institute of Economic Research.

☆ Putin: Sanctions could hurt Russia's economy
▼ + stars: | 2023-03-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —President Vladimir Putin has conceded that Western sanctions designed to starve the Kremlin of funds for its invasion of Ukraine could deal a blow to Russia’s economy. “The illegitimate restrictions imposed on the Russian economy may indeed have a negative impact on it in the medium term,” Putin said in televised remarks Wednesday reported by state news agency TASS. It is a rare admission by the Russian leader, who has repeatedly insisted that Russia’s economy remains resilient and that sanctions have hurt Western countries by driving up inflation and energy prices. Putin said Russia’s economy had been growing since July, thanks in part to stronger ties with “countries of the East and South,” likely referring to China and some African countries. Russia’s economy has showed surprising resilience to unprecedented sanctions imposed by the West, including an EU ban on most imports of oil products.

VIENNA, March 30 (Reuters) - Raiffeisen Bank International (RBI) (RBIV.VI) took aim on Thursday at "morally arrogant" critics of its dealings in Russia, although said it was considering spinning off its business there anyway amid mounting pressure. Chairman Erwin Hameseder accused critics of "black and white moral thinking" from a "risk free zone of comfort", and said most Western businesses had not left Russia. However, CEO Johann Strobl told the meeting the bank would pursue a possible sale or spin-off of its Russian business. Earlier this month, people familiar with the matter told Reuters the European Central Bank was pressing RBI to unwind its highly profitable business in Russia. The pressure comes after a top U.S. sanctions official raised concerns about RBI's business in Russia on a visit to Vienna last month, another person said.

☆ The 7 best military commanders of all time, according to Napoleon Bonaparte
▼ + stars: | 2023-03-24 | by ( Daniel Brown | ) www.businessinsider.com time to read: +1 min

Napoleon, one of history's great military commanders, encouraged his officers to study these leaders. You won't find the Duke of Wellington, who defeated Napoleon at Waterloo, on the French emperor's list. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyNapoleon Bonaparte is recognized as one of the greatest military commanders of all time. "Your own genius will be enlightened and improved by this study, and you will learn to reject all maxims foreign to the principles of these great commanders," Napoleon said. We've ranked the commanders based on Napoleon's comments and their own achievements:

[1/5] The logo of Raiffeisen Bank International (RBI) is seen on their headquarters in Vienna, Austria, March 14, 2023. REUTERS/Leonhard FoegerVIENNA, March 23 (Reuters) - The European Central Bank is pressing Austria's Raiffeisen Bank International (RBIV.VI) to unwind its highly profitable business in Russia, five people with knowledge of the matter told Reuters. One person said such a plan could include the sale or closure of its Russian bank. A Raiffeisen spokesperson said that it was examining options for its Russia business "including a carefully managed exit" and that it was "expediting" its assessment, adding that it had also reduced lending in the country. HIGH STAKESIn January, the U.S. sanctions authority launched an inquiry into Raiffeisen over its business related to Russia.

☆ Crypto is banned in China, but Binance employees and support volunteers tell people how to bypass the ban
▼ + stars: | 2023-03-23 | by ( Rohan Goswami | ) www.cnbc.com time to read: +18 min

The messages CNBC reviewed come from accounts identified as Binance employees or Binance-trained volunteers known as "Angels." Whatever the method, Binance's Chinese users take on a significant risk: In China, crypto exchanges have been outlawed since 2017, while crypto itself was outlawed in 2021. But Chinese customers have continued to seek ways to trade on Binance, which include using instructions provided by employees and volunteers. "'Binance does not offer a 'Binance Chinese Android app," a spokesperson said. In addition, hours after Binance responded to CNBC, messages apeared on Twitter suggesting that some customers' Binance debit cards had been frozen.

☆ Vienna 'few degrees' exhibit tilts paintings to call for climate action
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

VIENNA, March 22 (Reuters) - A Vienna museum where climate activists recently attacked the glass screen shielding a Gustav Klimt painting has responded with an exhibit entitled 'A Few Degrees More' that tilts works to draw attention to the need for action on climate change. [1/5] A visitor of the Leopold museum looks at the painting " A boy at the spring " by Albin Egger Lienz after the museum tilted 15 of its paintings in protest of climate change in Vienna, Austria, March 22, 2023. REUTERS/Leonhard Foeger 1 2 3 4 5It involves hanging 15 works by artists including Klimt and fellow Austrian great Egon Schiele at an angle, with texts calling attention to the effect that global warming of more than 1.5 degrees Celsius (2.7 Fahrenheit) from pre-industrial levels would have on the landscapes depicted in them. According to the United Nations' Intergovernmental Panel on Climate Change (IPCC), emissions must be halved by the mid-2030s if the world is to have any chance of limiting the temperature rise to 1.5 degrees Celsius above pre-industrial levels - a key target enshrined in the 2015 Paris Agreement. Reporting by Leonhard Foeger Writing by Francois Murphy Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

[1/4] FILE PHOTO-Austria's foreign minister Alexander Schallenberg speaks during an interview with Reuters in Vienna, Austria, March 16, 2023. REUTERS/Lisa LeutnerSummarySummary Companies Foreign minister says Russia important for Europe'Part of European culture, whether we like it or not'Schallenberg defends Raiffeisen against criticismVIENNA, March 22 (Reuters) - Russia will always remain important for Europe, Austria's foreign minister said, saying that to think otherwise was delusional. Schallenberg said it was for Austria to enforce sanctions and pointed the finger at other Western banks doing business in Russia. "Austrian companies have to stick to Austrian rules, part of which are the European Union sanctions." "There are enough American banks, one with the name Bank of America, present in Russia," said Schallenberg.

☆ Morning Bid: Signs of confidence re-emerge after bank storm
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

While UBS shares were hammered in early trading on Monday after its shotgun marriage with troubled Credit Suisse following an intervention by Swiss authorities, the bank's shares pared most of the losses towards the close. European Central Bank President Christine Lagarde said the market turmoil might do some of the ECB's work for it in dampening demand and inflation. Markets have been on high alert for central banks to raise interest rates sharply to cope with high inflation. ECB policymaker Robert Holzmann watered down his recent call for three more rate increases of 50 basis points in quick succession. Policy decision is on WednesdayReporting by Anshuman Daga; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

BRUSSELS, March 21 (Reuters) - EU antitrust regulators have raided a company active in the energy drinks sector in several EU countries on suspicion of taking part in a cartel and also abusing its dominance, the European Commission said on Tuesday. Austrian energy drinks maker Red Bull confirmed that its premises had been searched, the Austrian news agency APA reported, although the company declined further comment when contacted by Reuters. "The Commission has concerns that the inspected company may have violated EU antitrust rules that prohibit cartels and restrictive business practices," the EU enforcer said in a statement. "The inspected company may also have violated EU antitrust rules that prohibit abuses of a dominant position." Companies found breaching EU antitrust rules face fines of as much as 10% of their global turnover.

☆ F1 needs Perez to keep performing at his best
▼ + stars: | 2023-03-20 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

LONDON, March 20 (Reuters) - Sergio Perez may have had his best race yet in Sunday's Saudi Arabian Grand Prix but Formula One desperately needs the Mexican to keep it up in a season turning into a tale of two Red Bull team mates. Verstappen won 15 of the 22 races last year to Perez's two triumphs. "We've had those years where we were as strong, but it's a meritocracy," the Austrian told reporters when asked about the sport's popularity taking a hit if Red Bull kept winning everything. Perez agreed: "I think we did a great job," he said of the race in Jeddah. "I don't know if it's my best weekend so far with the team, but I'm sure Melbourne will be even better."

☆ ECB's Holzmann waters down call for three more rate hikes
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +2 min

VIENNA, March 20 (Reuters) - European Central Bank (ECB) policymaker Robert Holzmann on Monday watered down his recent call for three further interest-rate increases of 50 basis points in quick succession. Holzmann, who heads the Austrian National Bank, told German business daily Handelsblatt two weeks ago the ECB should raise rates by 50 basis points at each of its next four meetings because inflation was proving stubborn. That was a likely reference to how higher central bank rates and jitters in the banking sector tend to have the same effect by discouraging lending and cooling economic activity. Similarly, Holzmann said that since his Handelsblatt interview liquidity in the financial system had decreased, referring to banking stocks' recent fall on fears of a new banking crisis. Reporting by Francois Murphy and Alexandra Schwarz-Goerlich; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

[1/2] A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. The ECB has hiked rates by 350 basis points since last July, lifting its benchmark refinancing rate to 3.5% on Thursday. Wunsch said the ECB had a "long way to go" if its baseline inflation forecast materialised. Credit Suisse was dealing with "a longstanding restructuring problem", he added. Asked about the future of Credit Suisse, Wunsch said he only saw a "very low" likelihood that the bank might go bankrupt.

☆ File Raiffeisen’s sanctions-bypass idea in the bin
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 16 (Reuters Breakingviews) - Raiffeisen Bank International thinks it may have found a clever way to repatriate a small part of its Russian assets. Hence the idea to swap its stranded roubles against the frozen euros accumulated by Sberbank, the Kremlin-owned bank forced to unwind its operations by the war in Ukraine. Up to 400 million euros of its assets are now sitting idle in a frozen fund. Promoters of the idea, now being tested with regulators, reckon this might conform with sanctions because the swap would not involve sending hard currency to Russia. In reality, it would allow Russia’s largest bank to recover its frozen money, opening a massive loophole in the sanctions regime.

☆ 'We live in hell': Volunteer bus evacuates wounded Ukrainian troops
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +3 min

[1/8] A wounded Ukrainian soldier is evacuated in a converted bus, operated by Ukrainian volunteer medics, from the eastern frontline near Bakhmut to hospitals in the Dnipropetrovsk region, in Ukraine March 15, 2023. Six medics move up and down the narrow corridor between two rows of three beds that run the length of the bus, which is part of Ukraine's Hospitallers Medical Battalion that evacuates troops across Ukraine. "We had no possibility before in Ukraine to deliver casualties in such numbers between hospitals," he told Reuters. The initiative involves teams of volunteers rotating and spending several weeks on call, ready for when soldiers need moving further from the fighting. Tens of thousands of soldiers have been killed and wounded on both sides of the conflict since Russia launched its full-scale invasion of Ukraine last February.

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