The Agility Emerging Markets Logistics survey 2023 paints a sober picture, with more than 2/3 of respondents seeing a 2023 recession as 'Likely' or 'Certain'.

Global shares jumped and most currencies rose against the dollar on Wednesday as investors discerned a dovish tone in comments from Federal Reserve Chair Jerome Powell, though a policy tweak by the ECB meant European bonds sat out the rally.

BP on Tuesday also said its carbon emissions would not fall as quickly as anticipated.

The heating plant in Munich's southern Sendling neighbourhood has been run for more than a century on gas, often imported from far away.

Shell delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after Russia's invasion of Ukraine allowed it to hand shareholders unprecedented returns.

The Bank of England is poised to raise interest rates for the 10th time in a row on Thursday to keep up its fight against rampant inflation, but it might also drop a hint about when the steep climb in borrowing costs will end.

The eurozone's annual inflation rate has fallen for a third consecutive month, official data showed on Wednesday, but uncertainty over the figures and continued price growth cooled optimism.

The eurozone economy showed greater resilience than expected after avoiding a recession in the fourth quarter of 2022, official data showed Tuesday, but the outlook remained gloomy as soaring prices dampen growth.

European Union banking regulators on Tuesday launched a stress test to check how banks could cope with a long period of high inflation and interest rates just as the European Central Bank is expected to raise borrowing costs further.

The International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly.

The EU will present long-awaited proposals on Wednesday to counter sweeping US subsidies on green tech that threaten Europe's industry, already struggling with soaring energy prices and unfair competition from China.

The European Central Bank is expected to push on with its inflation fight Thursday with a fresh rate hike, even as signs grow the eurozone might have passed the worst of an economic shock.

Stocks mostly fell Monday as traders struggled to maintain momentum from last week's rally, though Shanghai advanced as mainland Chinese markets reopened after a week-long Lunar New Year break.

Chevron Corp on Friday posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, but the bottom line fell shy of Wall Street estimates, undercut by asset writedowns and rising costs.

Whatever new year fillip the euro zone economy got from ebbing natural gas prices, the UK saw none of it - showing just how peculiarly British the downturn there has become and heaping pressure on the Bank of England.

Germany is set to narrowly escape a recession this year, the government said Wednesday, as Europe's biggest economy weathers the fallout from the Ukraine war better than expected.

Euro zone business activity made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that the currency union may escape recession, a survey showed.

Bakers were already struggling with higher butter and flour costs, while the price of eggs has also spiked because of a national bird flu outbreak that has hit many French farms.

The Bank of England must decide next week how much higher it will raise borrowing costs as it tries to bear down on Britain's double-digit inflation rate without adding too much stress to an economy already close to recession.

The European Central Bank will deliver 50 basis point interest rate rises at each of its next two meetings, according to economists polled by Reuters, whose forecasts still risk lagging behind policymakers' guidance on how high rates will go.

European stock indexes edged higher on Monday, while Wall Street futures struggled to make gains as investors weighed up recession fears with hopes that inflation could be past its peak.

European Union proposals to overhaul its electricity market will attempt to better protect consumer energy bills from short-term swings in fossil fuel prices, the European Commission said on Monday.

The dollar was staring at a fourth straight session of losses against the euro on Monday as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve.

Europeans have dialled down their heating this winter, apparently heeding government calls to conserve energy amid the Ukraine crisis, with some delaying switching it on by almost a month and setting the temperature lower, data shows.

British inflation eased last month after hitting a 41-year high in October, offering some comfort to the Bank of England, but the pressure on households remained intense as food and drink prices rose at the fastest pace since 1977.

European shares slipped on Tuesday, taking a breather from their sharp rally since the start of this year, after China posted its weakest annual economic growth in nearly half a century, stoking investors' fears of an economic slowdown.

European debt sales have had their fastest start to the year on record as governments and financial institutions take advantage of borrowing costs falling from multi-year highs.

World equities mainly rose Monday on growing global optimism as inflation slows and China reopens, while gas prices hit an 18-month low on receding supply fears.

European shares advanced on Wednesday, buoyed by hopes of less aggressive interest rate hikes, while insurer Direct Line fell sharply after scrapping its full-year dividend.

Bank of England Chief Economist Huw Pill said on Monday that Britain is at risk of persistent inflationary pressure from a tight labour market, even if natural gas prices stabilise or fall, implying further rate rises may be needed.