Inflation is rising in the eurozone. Despite the efforts of the ECB, which have included negative interest rates and an asset purchase program of more than €1.2 trillion, the rise in inflation is being driven by the oil price. Energy prices are still proving a drag on inflation—excluding energy, the inflation rate was 0.8% in September Source The Wall Street Journal
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A new pipeline from Russia’s Arctic fields to Germany will boost Moscow’s share of the European gas market despite competition from Qatar and the United States, and will also mean much less fuel goes via Ukraine, Russian gas monopoly Gazprom said. Source Reuters
Retailers are filing for bankruptcy at a record rate as they try to cope with the rapid acceleration of online shopping. In a little over three months, 14 chains have announced they will seek court protection, according to an analysis by S&P Global Market Intelligence, almost surpassing all of 2016. Source Bloomberg
A Greek appeals court on April 25 rejected the extradition of three Turkish soldiers out of eight who requested asylum in the country after fleeing following Turkey’s failed July 2016 coup attempt, state-run Anadolu Agency has reported. Source Hurriyet Dailynews