Growth in bank loans to euro zone companies set a fresh post-crisis high in April, even as a key money supply indicator, which often predicts future economic activity, dipped more than expected, fresh data from the European Central Bank showed on Monday. Corporate lending in the 19-country currency bloc grew by 2.4 percent in April, just above the previous month’s 2.3 percent but the highest rate since mid-2009. Source Reuters
GEFIRA provides in-depth and comprehensive analysis of and valuable insight into current events that investors, financial planners and politicians need to know to anticipate the world of tomorrow; it is intended for professional and non-professional readers.
The Gefira bulletin is available in ENGLISH, GERMAN and SPANISH.
George Soros, the billionaire who earned fame by betting against the pound in 1992, said Britain was approaching a tipping point that would see the economy slow to such an extent that Brexit might even be reversed. Source Reuters
Germany’s Thyssenkrupp (TKAG.DE) said it planned cost cuts worth at least 100 million euros ($112 million) to meet financial targets at its troubled unit that engineers industrial plants and builds ships, despite early signs of improvement. Source Reuters
The migration policies of the political and other elites of Europe suggest that they are suicidal. The interesting thing to watch in the years ahead will be whether the publics join them in that pact. I wouldn’t bet on it. Source The Wall Street Journal