Italian Defense Assets, Turkey’s Rate Cut, Inflation: Eco Day
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Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- The Italian government is carefully reviewing options to bring closer together two of its biggest and most strategically significant defense assets: state-controlled Leonardo SpA and Fincantieri SpA
- Turkey’s central bank cut its key interest rate for a third consecutive month, heeding President Recep Tayyip Erdogan’s renewed demands for cheaper borrowing
- Germany is applying pressure on citizens to get Covid-19 shots, announcing plans to restrict many leisure activities for the unvaccinated
- President Joe Biden’s top labor economist Janelle Jones has a message for the Federal Reserve: run the economy hot
- Inflation looks increasingly likely to remain elevated until at least early next year, according to Bloomberg Economics
- The nonpartisan Congressional Budget Office estimated that President Biden’s signature economic package doesn’t contain enough tax increases to pay for itself
- China’s central bank is asking financial institutions and enterprises to step up exchange risk management after the yuan climbs to six-year high against a basket of currencies
- Japanese Prime Minister Fumio Kishida confirmed details of a bigger-than-expected stimulus package as he looks to make a bold move early in his premiership to shore up a sputtering economy
- Higher energy costs caused Japanese consumer prices to edge up for a second month in October, with the stimulus package expected to include countermeasures to ease the pain from more expensive fuel
- The U.S. Treasury’s top climate adviser urged wealthy nations to make clear commitments to cutting emissions by the end of the decade, in a thinly veiled swipe at holdouts like Australia
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