Bloomberg European Central Bank (ECB) Vice President Luis de Guindos said interest-rate hikes like half-point move seen at this month’s meeting may become the standard as officials maintain their fight with soaring inflation. Despite forecasts for a winter recession in the 19-nation euro zone, monetary-policy tightening must continue, Guindos told France’s Le Monde in an interview published on the ECB’s ...

  Bloomberg A former senior trader at Credit Agricole in New York sued the bank alleging he was subject to “stereotypically offensive, overtly racist, and degrading comments” as a Latinx person and denied career advancement and monetary rewards. Jose Ruiz, onetime head of emerging-markets foreign-exchange trading at Credit Agricole, filed suit in federal court in Manhattan. The complaint named as ...

  Bloomberg JPMorgan Chase & Co is upping its climate ambitions, announcing a slew of new emissions reductions targets for its financing to carbon-intensive businesses, including airlines and cement manufacturers. The largest US bank said in this year’s climate report that it plans to reduce the carbon intensity of its aviation financing portfolio by 36% by 2030 from a 2021 ...

  Bloomberg US equity futures faltered, struggling to hold the momentum that propelled the S&P 500 to its best daily gain in three weeks, as investors assessed whether the world’s biggest economy can skirt worst-case recession scenarios. Futures contracts on the S&P 500 and the Nasdaq 100 index flat-lined after Wednesday’s 1.5% boost for the underlying indexes as US consumer ...

  Bloomberg After two straight years of big gains, energy stocks could outperform the market again in 2023, but this time it will be higher dividends rather than oil that will spur appetite for the sector. In an effort to lure income investors, energy firms have aggressively boosted dividends over the last 12 months. Diamondback Energy Inc increased its payout ...

Abu Dhabi / WAM The UAE is preparing to host the International Summit of Women 2023, which will take place in Abu Dhabi on February 21-22, 2023, under the theme “Role of Female Leaders in Establishing Peace and Social Integration, and Driving Prosperity”. The event will be held under the patronage of HH Sheikha Fatima bint Mubarak, Chairwoman of the ...

  Abu Dhabi / WAM The Mother of the Nation Festival (Motn) will return with more action, shopping and mouth-watering cuisine from December 23 to January 1. The festival is returning by popular demand, to kick off the festive season in style on the Abu Dhabi Corniche. With new and exciting entertainment in store, visitors can expect more fun, more ...

Bloomberg Oil rallied to the highest since early December as US crude inventories decline more than anticipated. West Texas Intermediate futures for February delivery edged above $78 a barrel. US crude stockpiles fall 5.90 million barrels last week, according to an Energy Information Administration (EIA) report on Wednesday. Trading volumes have generally been below average this week ahead of the ...

Abu Dhabi / WAM Abu Dhabi Department of Energy (DoE) has launched a consumer protection policy to protect the interests of energy and water consumers in the emirate. The policy outlines a regulatory framework and assigns roles and responsibilities to companies that supply energy, water, sewerage, and district cooling services in the emirate. The aim of the new consumer protection ...

  Rabat / WAM During an official visit to Morocco, Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, met with Aziz Akhannouch, Prime Minister of Morocco, and several ministers from the Moroccan government. The meeting was attended by Al Asri Saeed Ahmed Al Dhaheri, UAE ambassador to Morocco. At the beginning of the meeting, Dr Sultan Ahmed ...