2025-01-31 10:57
FRANKFURT, Jan 31 (Reuters) - The European Central Bank is seeking a new design for euro banknotes, with possible subjects including great cultural figures like German composer Ludwig van Beethoven, or birds and rivers. The first revamp of euro banknotes since their launch 23 years ago is designed to make them more appealing and relatable. They currently feature nameless bridges and windows. Designers can choose from two alternative sets of motifs: European culture or a combination of rivers, birds and European institutions. Under the former, the fronts of the euro's six banknote denominations will feature famous Europeans. In ascending order of banknote value, these are: Greek opera singer Maria Callas, Beethoven, Polish-French scientist Marie Curie, Spanish author Miguel de Cervantes, Italian artist and inventor Leonardo da Vinci and Austrian peace activist Bertha von Suttner. These names, put forward by a group of independent experts and then picked by the ECB, might prove controversial as only six of the euro zone's 20 countries are represented. The reverse will feature cultural events or facilities such as a song festival or a library. The alternative motif will feature birds and rivers on the front of the notes, and European institutions including the ECB itself on the reverse. The ECB will open the contest this year and select the design in 2026 although the new banknotes will only go into circulation several years later. Sign up here. https://www.reuters.com/world/europe/beethoven-or-birds-ecb-seeks-ideas-new-banknote-designs-2025-01-31/
2025-01-31 10:48
KAMPALA, Jan 31 (Reuters) - The Ugandan shilling was stable on Friday, underpinned by dollar inflows from coffee exporters, traders said. At 1025 GMT commercial banks quoted the shilling at 3,677/3,687, compared with Thursday's closing rate of 3,678/3,688. Sign up here. https://www.reuters.com/markets/currencies/ugandan-shilling-stable-coffee-inflows-lend-support-2025-01-31/
2025-01-31 10:24
NAIROBI, Jan 31 (Reuters) - The Kenyan shilling eased against the dollar on Friday, according to data from the London Stock Exchange Group. As of 0942 GMT, the shilling was trading at 129.00/129.50 per dollar, compared with 128.85/129.35 at close of Thursday's session. Sign up here. https://www.reuters.com/markets/currencies/kenyan-shilling-eases-slightly-against-dollar-lseg-data-shows-2025-01-31/
2025-01-31 07:57
Lawmakers panel in talks over draft budget Government could fall over no-confidence motion Far-right wants to protect EDF's nuclear power market PARIS, Jan 31 (Reuters) - French Finance Minister Eric Lombard said on Friday that talks on getting the 2025 budget passed through parliament were "on the right track", although some compromises may still be needed. Lombard also told TF1 television that the government was sticking to its goal of bringing the public sector deficit to 5.4% of gross domestic product this year. Lombard was speaking as a panel of French lawmakers were meeting for a second day on Friday to thrash out the final text of a much delayed 2025 budget bill that is key to restoring investor confidence over the country's finances and the government's survival. The seven senators and seven members of the lower house were holding the closed-door negotiation to find a compromise before the bill heads to the lower house floor next week, when it could trigger a possible motion of no-confidence in the government "What I am hearing is that the talks are taking place in a constructive spirit and progressing at a good pace....I trust lawmakers. They understand the seriousness of the situation. I think we are on the right path," Lombard said. In the 2025 budget bill under discussion, Prime Minister Francois Bayrou wants to bring the public sector deficit down to 5.4% or GDP this year after it spiralled higher last year as tax income fell short of expectations and spending rose faster than expected. Lombard said the 5.4% target was "a commitment" made to the French people and the European Union that would not change. France's failure to agree the 2025 budget has rattled investors while sapping business and household confidence. The government has had to make billions of euros in concessions to forge a bill with a chance of getting passed. Sign up here. https://www.reuters.com/world/europe/french-budget-talks-right-path-finance-minister-says-2025-01-31/
2025-01-31 07:26
LONDON, Jan 31 (Reuters) - British house prices lost some of their momentum in January when they rose by just 0.1% compared with December, but the market remains resilient in face of financial strains on buyers, mortgage lender Nationwide said on Friday. A Reuters poll of economists had pointed to a 0.3% month-on-month increase after a 0.7% jump in December and an even bigger 1.2% leap in November. "The housing market continues to show resilience despite ongoing affordability pressures," Robert Gardner, chief economist at Nationwide, said. "While there has been a modest improvement over the last year, affordability remains stretched by historic standards." A prospective buyer with an average income and buying a typical first-time property with a 20% deposit would face a monthly mortgage payment equivalent to 36% of take-home pay – well above the long-run average of 30%, he said. In another sign of how high prices have become, around 40% of first-time buyers had some help to raise a deposit, either in the form of a gift or loan from family or friends, or through an inheritance, Gardner said. House prices in January were 4.1% higher than in the same month last year, slowing from a 4.7% annual increase in December, Nationwide said. Several measures of Britain's housing market have suggested a strengthening of demand recently. Data published on Thursday by the Bank of England showed net mortgage lending volumes rose in December by the most in more than two years. The expiry at the end of March this year of temporary tax incentives for buyers of less expensive homes and for first-time buyers is likely to bring forward some demand in the property market, analysts have said. Rising wages and the prospect of interest rate cuts by the BoE in 2025 - with a first reduction of the year expected next week - are also encouraging buyers. Nationwide has previously estimated that UK average house prices are likely to rise this year by between 2% and 4%. Sign up here. https://www.reuters.com/world/uk/uk-house-prices-edged-up-by-01-january-nationwide-says-2025-01-31/
2025-01-31 07:24
TOKYO, Jan 31 (Reuters) - Nippon Steel (5401.T) , opens new tab will launch a $456 million tender offer to make Sanyo Special Steel (5481.T) , opens new tab a wholly owned unit, Japan's biggest steelmaker said on Friday. Nippon Steel will offer 2,750 yen ($17.78) a share, or a 37% premium over Sanyo Special Steel's closing price on Friday, spending a total 70.45 billion yen ($455.66 million), it said in a statement. ($1 = 154.7100 yen) Sign up here. https://www.reuters.com/markets/commodities/nippon-steel-launches-456-mln-bid-acquire-sanyo-special-steel-2025-01-31/
