The capital of the European Investment Bank, established in Luxembourg in 1958 to support European growth-promoting projects, belongs to the EU member states that form it. EIB can issue loans that exceed capital 2.5 times. As a result of the withdrawal of Great Britain from the EU, whose share in the capital of the bank is 39 billion euros out of 243 billion euros, the credit potential of the EIB will decrease by more than 100 billion euros. The EU countries, including France and the states of Central and Eastern Europe, supported the appeal of the head of EIB Werner Hoyer to the EU states to increase investments in capital in order to fill the deficit that is formed after Brexit. The EIB, in turn, agreed to independent control, which will be implemented by the European Central Bank.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial ...
European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, ...
On Tuesday, Snap Inc.’s (SNAP.N) stock price declined by more than 11% in after-hours trading as investors digested the company’s user and revenue growth after its second-quarter earnings report. The social media company reported ...