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Power generation from Britain's wind farms hit a record 14.2 gigawatts (GW) on March 17, National Grid (LSE: NG.L - news) said on Monday. Wind power represented 34.2 percent of domestic electricity generation at 1430 GMT on Saturday (Shenzhen: 002291.SZ - news) , Britain's power grid operator said.
French bank Societe Generale (Swiss: 519928.SW - news) and its Credit Du Nord subsidiary did not violate banking regulations in shutting down the accounts of the far-right National Front party, the Bank of France said on Tuesday. National Front chief Marine Le Pen last week accused the banks, as well as HSBC which closed her personal account, of launching a "banking fatwa" to silence her party.
The banks that closed the accounts of far-right National Front leader Marine Le Pen and her party did not act wrongly, France's central bank said on Tuesday. Le Pen last week accused two banks -- Societe ...
PARIS/NANTERRE, Nov 22 (Reuters) - French far-right leader Marine Le Pen accused two banks on Wednesday of launching a "banking fatwa" to silence her National Front party by closing bank accounts of hers and her party's. Le Pen is smarting from defeat in this year's presidential and parliamentary elections, during which she accused French banks of being politically biased for not lending to her campaigns. "This is an attempt to suffocate an opposition party, and no democrat should accept that," Le Pen told a news conference, calling on President Emmanuel Macron and other political parties to back her National Front (FN).
French National Front party leader Marine Le Pen (Other OTC: PENC - news) on Wednesday said she was victim of a "banking fatwa" after banks moved to close her and her party's accounts. "This is an attempt to suffocate an opposition party," Le Pen told a news conference. The party says that Societe Generale (Swiss: 519928.SW - news) closed its accounts and that when the central bank ordered a subsidiary, Credit du Nord, to manage an account for her, the latter refused to process cheque and credit card payments.
French far-right leader Marine Le Pen (Other OTC: PENC - news) , smarting from defeat in a presidential election where she denounced banks for refusing her campaign loans, accused her bankers on Tuesday of "persecution" after they moved to close down her and her party's accounts. The 49-year-old, who is also struggling with feuding in her party after May's election loss to Emmanuel Macron, accused the head of HSBC France's retail banking business of shutting an account she had held for 25 years. HSBC did not immediately respond to calls from Reuters for comment.
The gap (Frankfurt: 863533 - news) between French and German borrowing costs shrank on Tuesday to its tightest since before the 2010-2012 euro zone debt crisis, as confidence in the bloc's economic prospects swelled and "Frexit" fears faded from memory. On Tuesday, the 10-year spread tightened to 15 basis points, a level last seen in August 2009, well before a series of sovereign debt crises hit the single currency bloc. "All the political uncertainty in France in the first half of the year has faded away and the market is focusing on macroeconomic factors," said DZ Bank analyst Sebastian Fellechner.
The best economic growth in a decade and a tightening of the Franco-German axis at the heart of the 19-member euro zone has de-sensitized markets to European political risks and will keep money flowing into the bloc in 2018, top investors said this week. Euro zone investments have turned in one of their best years since the single currency was born in 1999, astonishing many who had bet on the bloc to be a potential disaster play this year in the face of several key elections and the perceived rise of anti-euro populism. For the asset managers attending the Reuters 2018 Global Investment Outlook Summit, there were two key reasons for the brighter investment outlook in the euro area -- long the laggard of the world economy.
Swedish energy utility Vattenfall has won a distribution networks operator licence from Britain's energy regulator Ofgem and will start operating in the competitive UK market in 2018, Vattenfall said. Vattenfall, one of the biggest wind energy producers in Britain with capacity nearing 1 gigawatt (GW), formed a unit to own and operate the networks to meet the licence requirements. The company would not seek to link up with existing distributors but, like them, it has to be careful with its cost structure in the British market, Annika Viklund, senior vice president of Vattenfall distribution, told Reuters.
Facebook (NasdaqGS: FB - news) boss Mark Zuckerberg has been urged to hand over details of activities by Russian-linked accounts during the EU referendum and this year's General Election. The request comes from a group of MPs (BSE: MPSLTD.BO - news) who are investigating the impact of "fake news" being circulated on social media. In a letter , Conservative MP Damian Collins told Mr Zuckerberg the House of Commons' Digital, Culture, Media and Sport Committee aims to uncover "the role of foreign actors abusing platforms such as yours to interfere in the political discourse of other nations".
French President Emmanuel Macron meets leftist MP Francois Ruffin during a visit to a Whirlpool factory in Amiens, northern France, on October 3, 2017.
Italian government bond yields jumped on Tuesday, stretching the gap with German peers to a five-week high, in the wake of proposals to introduce a parallel currency in Italy that have upped the ante for elections due next year. Italy's 10-year bond yield, which moves inversely to the price, climbed as much as 9 basis points to a three-week high at 2.13 percent.
French President Emmanuel Macron pictured during a joint press conference with Israel's Prime Minister at the Elysee Palace in Paris, on July 16, 2017
European Central Bank president Mario Draghi says that the anti-euro and anti-European sentiment stoked by Brexit is now fading.
Europe is slowly turning a corner as a wave of anti-European Union movements peters out, Donald Tusk told EU leaders in a letter published before he will chair their two-day summit starting on Thursday. Tusk, the president of the council of EU heads of states and governments, said the bloc was now again starting to be perceived as a solution, rather the problem, and that recent difficulties had served to strengthen it. "It is fair to say that we will meet in a different political context from that of a few months ago, when the anti-EU forces were on the rise," Tusk wrote.
The gap (Frankfurt: 863533 - news) between Italian and German 10-year borrowing costs hit its narrowest level in five months on Tuesday as euro zone bond investors priced in what they see as a dramatic reduction in the risk of the bloc breaking up. The latest dip in Italian yields came as the anti-establishment 5-Star Movement said its plan to hold a referendum on Italy's euro membership was "a negotiating tool". Earlier this year, government bond yields in southern Europe rose due to uncertainty over how French elections in May would play out, the possibility of a snap vote in Italy and speculation of the European Central Bank beginning to wind down its extraordinary monetary stimulus.
Fed chief Janet Yellen's confidence as her team raised interest rates for the third time in six months last week surprised investors who had expected more caution about the economy. There are signs, however, that the market does not believe Fed forecasts that show it will be able to continue raising rates later this year and any signs of doubt from other Fed officials speaking this week may hurt the dollar. "I think that the burden of proof for the dollar (to appreciate) is pretty high," said Jeremy Stretch, head of currency strategy at CIBC (Dusseldorf: CAI.DU - news) in London.
Pretty much a year to the day after Britain voted to leave the EU, talks begin today on how that will happen, with Brexit minister David Davis due to meet chief EU negotiator Michel Barnier at the European Commission headquarters at 0900 GMT. As Francois Hollande found to his cost, if you squander the first 12 months you may end up with meagre results.
Given the fact that it is now not certain that there is a parliamentary majority to pull Britain out of the single market as May publicly sought, that approach would throw things very much up in the air before the June 19 formal start of Brexit negotiations and an EU summit a few days later. In an attempt to cling on, May has brought in foes such as Brexiteer Michael Gove back into the government. No such difficulties for France's Emmanuel Macron, who on Sunday's first-round showing is likely to get a whopping majority from the second round of parliamentary elections next week.
Corruption watchdog OLAF said it detected an estimated 631 million euros ($705 million) in EU funds that were lost to fraudulent claims in 2016
Global investors raised their euro zone equity holdings in May, betting the rally has further to run, but cut their exposure to UK assets, reflecting uncertainty around the outcome of a snap general election, a Reuters poll showed on Wednesday. The Reuters monthly asset allocation survey of 47 fund managers and chief investment officers in Europe, the United (Shenzhen: 000925.SZ - news) States, Britain and Japan was carried out between May 15 and 30, after an emphatic win for pro-European Union (EU) candidate Emmanuel Macron in the French presidential elections.