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Search resuls for: "Bercetche"


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☆ UK faces longest recession since records began, Bank of England says
  + stars: | 2022-11-03 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +3 min
The Bank of England hiked its benchmark interest rate by an historic 75 basis points Thursday — its largest increase since 1989. Toby Melville | Afp | Getty ImagesLONDON — The Bank of England warned Thursday that the U.K. is facing its longest recession since records began, with the economic downturn expected to extend well into 2024. watch nowThe forecast, outlined at the Bank's Monetary Policy Committee meeting Thursday, would constitute the country's longest — though not deepest — recession since the 1920s when reliable records began. At its meeting in August, the Bank had predicted the U.K. was facing its longest recession since the global financial crisis, lasting five quarters to the end of 2023. Andrew Bailey Governor, Bank of England"We have inflation coming back down to target; and going below target actually.
☆ European banks are posting bumper profits — but don’t buy their shares yet, strategist says
  + stars: | 2022-10-27 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +4 min
Those are comments from one investment advisor despite lenders on the continent posting bumper third-quarter results this week. Barclays on Wednesday reported net profits of £1.5 billion ($1.73 billion), while Deutsche Bank revealed a net income of 1.12 billion euros ($1.11 billion). Deutsche Bank's net interest margin grew to 1.5% in the quarter, up from 1.4% in the prior quarter and from 1.2% in the year-ago period. But this income source for banks is unlikely to be long-lived as European capitals debate imposing a "windfall tax" on banks' profits. Hickmore said that senior debt from European banks is more attractive now as they are immune to many risks banks face.
☆ Deutsche Bank logs ninth straight quarter of profit with big earnings beat
  + stars: | 2022-10-26 | by ( Silvia Amaro | ) www.cnbc.com   time to read: +2 min
In this article .BBKA Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDeutsche Bank on Wednesday crushed market expectations for the third quarter, amid higher interest rates and turbulent market trading. The bank reported a net income of 1.115 billion euros ($1.11 billion) for the quarter. Here are other highlights for the quarter: Revenues rose 15% from a year ago, and hit 6.92 billion euros. As a result, additional contingent risk fell to 0.2 billion euros, from the 0.6 billion euros at the end of the second quarter. Higher interest rates for longer?
☆ Why investors worry about the euro
  + stars: | 2022-10-17 | by ( Joumanna Bercetche | ) www.cnbc.com   time to read: +1 min
In July 2012, the European Central Bank's then-president Mario Draghi gave a speech that is now credited with saving the euro. Greece was in the middle of a debt crisis, and economic instability was spreading to other parts of the euro zone. Ten years later, the euro and the euro zone are still intact. So, in that sense, your passport becomes a major determinant of your funding conditions." So, is the euro zone at risk of breaking apart?
☆ Is the eurozone at risk of breaking apart?
  + stars: | 2022-10-17 | by ( Joumanna Bercetche | ) www.cnbc.com   time to read: +1 min
In July 2012, the European Central Bank's then-president Mario Draghi gave a speech that is now credited with saving the euro. Greece was in the middle of a debt crisis, and economic instability was spreading to other parts of the eurozone. Ten years later, the euro and the euro zone are still intact. So, in that sense, your passport becomes a major determinant of your funding conditions." So, is the eurozone at risk of breaking apart?
☆ UK Finance Minister Kwasi Kwarteng ousted following tax-cutting plans
  + stars: | 2022-10-14 | by ( Joumanna Bercetche | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK Finance Minister Kwasi Kwarteng ousted following tax-cutting plansUK Finance Minister Kwasi Kwarteng has been sacked from his role following his controversial key fiscal policy pledges. CNBC's Joumanna Bercetche joins 'Squawk Box' to report.
☆ United Kingdom reverses decision on corporate taxation
  + stars: | 2022-10-14 | 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 EmailUnited Kingdom reverses decision on corporate taxationCNBC's Joumanna Bercetche joins 'Squawk on the Street' to report on the Prime Minister's renewed commitment to economic stability over market price action, and the reversed decision on corporate taxation, and the appointment of a new British Finance Minister.
☆ Final Italian polls show right-wing coalition to win more than 45% of national vote
  + stars: | 2022-09-23 | 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 EmailFinal Italian polls show right-wing coalition to win more than 45% of national voteCNBC's Joumanna Bercetche digests the last polls to be held before Sunday's Italian elections.
☆ 'We have to cooperate with Europe and the European community,' Italy lawmaker
  + stars: | 2022-09-23 | 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 Email'We have to cooperate with Europe and the European community,' Italy lawmakerEmanuele Fiano, a member of the Democratic Party, speaks to CNBC's Joumanna Bercetche. "We have to cooperate with Europe and the European community," he said.
☆ 70 governments in 77 years: Why Italy changes governments so often
  + stars: | 2022-09-22 | by ( Joumanna Bercetche | ) www.cnbc.com   time to read: +1 min
His departure threw the country into political turmoil, and a snap general election was scheduled for this month. The European nation's political instability comes down to a few factors, but at the heart of it is Italy's unique, hybrid political system. "The system is important for representing different ideologies, different preferences, different geographical areas. Italy is a very diverse country," said Andrea Ruggeri, an expert on Italian politics and international relations at the University of Oxford. So, what is it about the Italian political system that makes this changing of the guard so frequent?
☆ The far-right is expected to win Italy's election
  + stars: | 2022-09-22 | 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 EmailThe far-right is expected to win Italy's electionCNBC's Joumanna Bercetche reports from Ancona, Italy — part of region controlled by the Fratelli d'Italia party which may lead a coalition in Rome follwoing Sunday's snap elections.
☆ How Italy's elections could affect the country's industrial sector
  + stars: | 2022-09-22 | 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 EmailHow Italy's elections could affect the country's industrial sectorReporting from the Marcegaglia steel plant in Mantua, northern Italy, CNBC's Joumanna Bercetche looks at how the outcome of the elections could affect industries such as steel amid the confluence of crises in energy, the war in Ukraine, and a possible economic recession in Italy.
☆ The far-right is expected to win Italy's election in Rome's biggest political shift for decades
  + stars: | 2022-09-22 | by ( Holly Ellyatt | ) www.cnbc.com   time to read: +7 min
The Brothers of Italy party stands out from the crowd and is expected to gain the largest share of the vote for a single party. Giorgia Meloni, leader of the right-wing party Fratelli d'Italia (Brothers of Italy) holds a giant Italian national flag during a political rally on February 24, 2018 in Milan, Italy. The snap election follows the resignation of Prime Minister Mario Draghi in July, after he failed to unite a fractious political coalition behind his economic policies. An election win by Fratelli d'Italia could see the party's leader, Giorgia Meloni, become Italy's first female prime minister. Fratelli d'Italia has been pro-NATO and pro-Ukraine and supports sanctions against Russia, unlike Lega which is ambivalent about those measures.
☆ Italy's banking system braces for winter energy crisis, election spillovers
  + stars: | 2022-09-20 | by ( ) www.cnbc.com   time to read: 1 min
Reporting from Milan, CNBC's Joumanna Bercetche highlights the impacts the Italian banking system could experience from the energy crisis and a potential economic contraction this winter.
☆ Gas prices front and center ahead of Italy's snap election
  + stars: | 2022-09-19 | 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 EmailGas prices front and center ahead of Italy's snap electionReporting from the Menfi–Mazara Del Vallo's natural gas pipeline operated by Snam, CNBC's Joumanna Bercetche highlights the crucial role that the energy crisis, cost stabilization, and supply diversification will play in Italy's future ruling government ahead of the elections.
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