The euro fell sharply percent against the dollar shortly after the European Central Bank (ECB) announced plans to trim the bank’s monthly asset purchase program from January. Crucially, the bank also noted that the program could be extended again if necessary. The ECB has been running its bond buying at a pace of 60 billion […]

China is dominating the robotics market, according to the chief executive of Swedish-Swiss automation giant ABB. Ulrich Spiesshofer said Thursday that the Asian powerhouse is “the largest robotics market of the world,” and that this would likely continue to be the case next year. “ABB is clearly the number one in China. Our long-term investment […]

The European Central Bank (ECB) decided Thursday to cut the level of bonds it purchases every month, but extend the length of time that its stimulus program runs. Its purchases will fall to 30 billion euros ($35 billion) from 60 billion euros, starting in January. The central bank said it will extend its monetary stimulus […]

The Bank of Italy has been the “weak point” of the system under the governorship of Ignazio Visco, former prime minister Matteo Renzi said Thursday, putting pressure on the government not to renew his mandate. Visco’s mandate expires at the end of the month and the center-left government is widely expected to recommend he serves […]

Barclays reported a worse than expected profit before tax for the third quarter of 1.1 billion pounds ($1.46 billion) as a weak trading performance in its investment bank dragged down group results. The profit figure for the quarter was well below the 1.43 billion pounds average of analysts’ estimates compiled by the bank. Barclays said […]

Greece’s bailout program is set to end in August of next year but doubts remain over whether the country will be able to stand on its own feet after the summer. After implementing hundreds of new laws in exchange for financial disbursements from its 86 billion euro ($100 billion) bailout program, Athens is set to […]

German lender Deutsche Bank reported revenues that were largely in line with expectations for the third quarter of 2017, as the bank continued to cite a challenging market and interest rate environment. Here are the key third-quarter metrics: Net income: 649 million euros ($768 million) vs. 281 million euros expected, according to Thomson Reuters Revenue: […]

Markets in Europe are set to open higher on Thursday morning as investors digest new earnings reports and wait to hear from European Central Bank (ECB) President Mario Draghi. The FTSE 100 is seen up by 20 points at 7,468; the DAX is seen higher by 35 points at 12,981 and the CAC 40 is […]

Spanish authorities are leaving separatists in Catalonia no option but to push ahead with declaring independence and proclaiming the region as a new republic, the region’s vice president asserted Wednesday. In an interview with The Associated Press, Vice President Oriol Junqueras said his party — one of two in the separatist coalition now governing Catalonia […]

The U.K. economy grew by 0.4 percent in the third quarter of this year, beating market estimates, and potentially boosting the chances of a rate hike by the Bank of England. This was a rise of 1.5 percent year-on-year, according to the Office for National Statistics, with services and manufacturing being the main drivers of […]