Business report. No frills airline, ryanair, thought to be about to announce big annual profits. Well find out what they are doing right while others struggle. More banks fines in the wake of the 1mdb scandal. Singapores uob and Credit Suisse are fined just over a Million Dollars for Money Laundering for transactions related to malaysias scandal ridden state fund. Welcome to World Business report. Im jamie robertson. In a minute well have this. Japan, how consumers are making a bit of a comeback. The biggest in Something Like ten years. But first in a few hours time, the no frills airline, ryanair, will report its latest set of financial results. Europes biggest carrier by Passenger Numbers is expected to announce a 14 jump in full year profit to around 1. 5 billion us. Ryanairs performance is a sign that its cost cutting measures are helping the business compete as overcapacity continues to dog the industry. Investors seem encouraged by the progress the company is making. Ryanairs sha
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Sanofi [SAN.FR] +1%,
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- EU s Vestager noted that it was too early to consider a 2nd economic recovery package for the region.
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Hungary Central Bank Dep Gov Virag stated that saw many signs of inflation in the economy with upward risks rising. MPC to be proactive in addressing inflation and stressed that maintenance of price stability would be key. Saw inflation back within range by summer.
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Russia Central Bank Dep Gov Zabotkin stated that monetary policy should return to neutral ( Note: Neutral level for rates seen between 5.0-6.0% area with the One-Week Auction Rate currently standing at 5.00%).
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Molecular Partners [MOLN.CH] +5% (trial),
AstraZeneca [AZN.UK] -1% (Ireland suspends use of vaccine)
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BOE Gov Bailey0reiterated stance that current lockdown was having less effect on economy compared to a year ago. Had a more balanced picture on risks and could see a spending of savings and viewed as an upside risk. Very helpful that furlough scheme to extend beyond end of covid restrictions. Would expect a pickup in inflation towards 2% in the coming months; but question was whether such gains are sustainable; not expecting inflation to rise to 4.0-5.0% area. BOE is not out of tools or firepower
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- 05:30 (DE) Germany to sell €6.0B in 3-month and 9-month Bubills
- 05:30 Netherlands Debt Agency (DSTA) to sell €1.0-3.0B in 3-month and 6-month bills
- 06:00 (RO) Romania to sell RON500M in 3.65% 2031 Bonds
- 06:00 (IL) Israel to sell bonds
- (EU) Euro-Area Finance Ministers (Eurogroup) meeting
- 06:00 (SW) Sweden Central Bank (Riksbank) Jansson
- 06:25 (BR) Brazil Central Bank Weekly Economists Survey
- 06:45 (US) Daily Libor Fixing
- 07:00 (BR) Brazil Nov Economic Activity Index (Monthly GDP) M/M: 0.5%e v 0.9% prior; Y/Y: -1.0%e v -2.6% prior
- 08:00 (PL) Poland Dec CPI Core M/M: -0.1%e v +0.2% prior; Y/Y: 3.7%e v 4.3% prior
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