Saturday 23 September 2017

Draghi eases bond fears in Germany

The European Central Bank's new bond-purchase programme will not lead to inflation or compromise the bank's independence, ECB President Mario Draghi has told German parliamentarians.

In prepared remarks for delivery at the beginning of his meeting, Mr Draghi addressed point by point their concerns about the programme, known as Outright Monetary Transactions.

US single-family home sales surge

US single-family home sales surged in September to their highest level in nearly two-and-a-half years.

Optimism over the economy was tempered somewhat as other data showed only a modest pick-up in factory activity this month amid a darkening cloud of economic uncertainty at home and slower growth abroad.

American Airlines announces route

American Airlines has announced the launch of new service between Dublin and New York.

A new American Airlines service from Dublin to New York JFK will commence next summer. The new service will start in June 2013, subject to government approval, and will be available for sale from November 5.

Chinese index at three-month high

China's manufacturing improved this month, adding to signs that a recovery might be taking shape after a sharp slump in the world's number two economy.

The preliminary HSBC monthly purchasing managers' index rose to a three-month high of 49.1 points on a 100-point scale, the bank said yesterday. That was still below the 50-point level that indicates a contraction but was a strong improvement from September's 47.9 level.

Peugeot offered €7bn lifeline

France is offering a €7bn lifeline to PSA Peugeot Citroen, the carmaker confirmed alongside another drop in sales.

In return, the French government is expected to demand a reduction in layoffs, hoping to blunt rising unemployment in a sector critical to the French economy. The government has made a point of trying to save jobs in France, where unemployment struck 10.6pc in August.

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