Revolut wins French banking licence
Authorisation from regulator accelerates UK-headquartered fintech’s European expansion plans
Canals cool down cities during heatwaves – new research
A canal boat moored on the Regent's Canal in London. BBA Photography/ShutterstockCanals in Great Britain and Ireland cool city neighbourhoods up to 50 metres from their banks, particularly during heatwaves.
Monetary policy and the rigidity of firm employment expectations
This paper examines how monetary policy announcements affect firms’ employment expectations. Using German survey data, we combine high-frequency monetary policy surprises with survey response dates to identify the immediate and dynamic effects of monetary policy on firm-level expectations and subsequent employment. Contractionary shocks lead firms to revise employment plans downward immediately and persistently, eventually reducing employment growth. Initially, hiring plans are reduced, while layoffs increase later.
Monetary policy and the rigidity of firm employment expectations
This paper examines how monetary policy announcements affect firms’ employment expectations. Using German survey data, we combine high-frequency monetary policy surprises with survey response dates to identify the immediate and dynamic effects of monetary policy on firm-level expectations and subsequent employment. Contractionary shocks lead firms to revise employment plans downward immediately and persistently, eventually reducing employment growth. Initially, hiring plans are reduced, while layoffs increase later.
Prohibition of monetary financing: an economic perspective
This paper analyses the European prohibition of monetary financing from an economic perspective. The prohibition seeks to safeguard central bank independence in setting monetary policy to maintain price stability, and to preserve fiscal discipline, thereby preventing monetary policy from becoming constrained or hindered by fiscal policies.
Opposition accuses govt of institutional evasion and strategic missteps over wiretapping and Patriots
The government faced a twin barrage of criticism over the weekend, as opposition parties condemned both the Supreme Court prosecutor’s refusal to reopen the wiretapping case and the handling of Greece’s Patriot missile deployment in Saudi Arabia.
A €55bn family empire trapped by its own rules
Conflict between Leonardo Del Vecchio’s heirs leaves Delfin in stasis as group’s portfolio is reshaped by consolidation
Hargreaves Lansdown orders staff back to office
UK’s biggest DIY investment platform calls employees back to the workplace three days a week
The bank behind China’s AI listings bonanza
CICC has become a dominant financier in Beijing’s drive to compete with US in tech race
Greg Abel finally puts Buffett’s cash pile to work
Berkshire Hathaway chief ends more than three-year selling streak as he ploughs a net $20bn into stocks
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