UK and European Stocks Set to Fall as Volatile Week Continues
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European markets open cautiously ahead of ECB rate decision
The European Central Bank is widely expected to raise interest rates for the first time since 2023 as policymakers respond to rising inflation fuelled by higher energy prices linked to the Iran war. Investors are bracing for an ECB rate hike on Thursday. Markets expect the European Central Bank to raise rates by 25 basis points, which could weigh on growth and corporate earnings.
With Inflation Bearing Down, Europe Is Facing Higher Interest Rates
The European Central Bank is expected to raise its forecast for inflation as the war pushes prices higher.
Hugo Boss pops 6% after top shareholder Frasers launches $2 billion takeover offer
Hugo Boss shares popped 6% Thursday after its biggest shareholder, Frasers Group announced a 2-billion-euro takeover offer for the German fashion company. Frasers, which has a 26% stake in Hugo Boss, said late Wednesday it is offering 38 euros per share in cash for the remainder of Hugo Boss shares, marking a total consideration of 1.978 billion euros ($2.28 billion). The offer represents a premium of around 4% to Hugo Boss' Wednesday closing price.
Singapore charges 3 men over US$18 million fake country of origin mattress scam
Singapore charges 3 men over US$18 million fake country of origin mattress scam The men allegedly declared China-made mattresses as Singapore goods to avoid paying US anti-dumping duties Singaporeans Loh Yew Kong, 68; Leong Yu Fong, 41; and Loh Chen Sing Darren, 37, as well as three companies – Brighture Et Riche, Brighture Et Riche (Int) and Zenova International – were charged in connection with the alleged scheme, Singapore Customs said. Authorities commenced investigations in February...