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World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said inflation remained a continuing problem. Brent crude was down $1.62, or 1.7%, to $94.57 a barrel by 12:14 p.m. EDT (1614 GMT). Oil also came under pressure from a strong dollar, which hit multi-year highs on worries about interest rate increases and escalation of the Ukraine war. A strong dollar makes oil more expensive for buyers with other currencies and tends to weigh on risk appetite. President Joe Biden is re-evaluating the U.S. relationship with Saudi Arabia after OPEC+ announced last week it would cut oil production, White House national security spokesman John Kirby said on Tuesday.

Strengthening the case for another 75 basis point increase, German inflation jumped to 10.9% this month, far beyond expectations for a reading of 10%. "There is no easing in sight, and next year the inflation rate is only likely to fall because energy prices are unlikely to rise again as strongly as this year, partly due to government intervention," Commerzbank economist Ralph Solveen said of the German inflation figures. While few governors ventured to estimate where interest rate hikes could end, de Cos said that models suggest a significantly lower terminal rate than markets now expect. "On the basis of current information, the median terminal rate value across models is at 2.25%-2.50%," de Cos said. Rate hike talk is intensifying even as recession fears rise.

☆ Commerzbank to take 490 mln euro Q3 hit due to mBank unit
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Sept 27 (Reuters) - Germany's Commerzbank (CBKG.DE) said on Tuesday it would take a 490 million euro ($471 million) hit to its third-quarter operating profit after its Polish mBank (MBK.WA) unit booked additional provisions for its Swiss franc loans. The German lender said it nevertheless still expected to reach its net profit target of more than 1 billion euros for the full year. Frankfurt-listed shares of Commerzbank, which is in the midst of a costly restructuring that involves cutting 10,000 jobs and closing branches, were down 5.5% after the news. Commerzbank had attempted to sell mBank but abandoned the effort after an auction petered out in 2020. ($1 = 1.0408 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Tom Sims and Sabine Wollrab Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Fact Check-Video purportedly showing North Korea’s military choir covering Rage Against the Machine’s ‘Killing in the Name’ has been digitally altered
▼ + stars: | 2022-09-27 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A video purportedly showing North Korea’s military choir covering the song “Killing in the Name” by Rage Against the Machine has been digitally altered. Although the images do show the country’s military choir, the audio used comes from a July 2019 rock choir event in Frankfurt, Germany. Footage of the country’s military arsenal, such as tanks and missiles, can be seen on big screens in the background. For example, one Twitter user wrote: “‘Killing in the name of,’ sung by those who in fact, work forces... The music audio comes from footage of another event and the images have been edited together to mislead viewers.

☆ Reactions: Britain's pound crumbles to record lows in firesale of UK assets
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +8 min

Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File PhotoLONDON, Sept 26 (Reuters) - Britain's pound plunged to record lows on Monday and bonds were slammed for a second day, as investors punished UK assets after the government's mini-budget announcement last week. The presentation of the mini-budget was received quite badly by the markets – sterling literally collapsed. The significant tax cuts announced by the Treasury Secretary cause concerns for the currency markets because of rising government debt." One is the loss of confidence in UK fiscal policy and that won't help sterling.

☆ Unicredit CEO eyes acquisitions in Germany -Handelsblatt
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

The headquarters of UniCredit in downtown Milan, Italy, February 4, 2016. REUTERS/Stefano Rellandini/File PhotoBERLIN, Sept 20 (Reuters) - UniCredit (CRDI.MI) is eyeing acquisitions in Germany as part of plans by Italy's second-biggest bank to become a fully developed European bank, Chief Executive Andrea Orcel told German daily Handelsblatt on Tuesday. "A significant increase in our market share in Germany would be good for Unicredit as a whole," he said, according to the paper, adding that mergers and acquisitions could be an accelerator and create added value under the right conditions. read more"There was no closer communication on this," he replied, when asked about the talks with the No. Register now for FREE unlimited access to Reuters.com RegisterWriting by Miranda Murray; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Noua tulpină de coronavirus din Marea Britanie lovește lira și moneda euro: investitorii „fug” spre dolar
▼ + stars: | 2020-12-21 | by ( ) www.zdg.md time to read: +2 min

Lira britanică și moneda euro au scăzut luni, în timp ce investitorii au căutat refugiu în dolar, după ce o nouă tulpină de coronavirus cu răspândire rapidă a închis o mare parte din Regatul Unit și a perturbat transportul internațional de marfă, transmite Reuters. Bursele europene au scăzut după ce, cea mai mare parte a Europei, a întrerupt transportul cu Marea Britanie, însămânțând haos pentru cetățeni și companii, cu câteva zile înainte ca Marea Britanie să iasă din Uniunea Europeană. Între timp, au crescut temerile că Marea Britanie ar putea ieși din perioada de tranziție din UE pe 1 ianuarie. La 12:02 GMT, lira a scăzut cu 1,91% până la 1,3270 dolari și a pierdut teren față de euro, în scădere cu 1,23% până la 91,66 cenți. Dolarul a urcat luni față de cele mai importante monede de referință, investitorii căutând siguranța relativă, deoarece multe țări au înăsprit blocajele COVID-19.

Persons: Boris Johnson, Ulrich Leuchtmann, Reuters, Simon Coveney, Holger Organizations: Reuters, Uniunea Europeană, Congresul american Locations: britanică, Regatul Unit, Europei, UE, Franța, Olanda, Danemarca, Belgia, Irlanda, Irlandei

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