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...But they have since risen higher than pre-pandemic levels, as stagnant growth, rising borrowing costs and high energy prices took their toll on more companies....
Many EU countries with biggest shortfalls have high levels of debt and budget deficits
...The ECB also worries that falling productivity will increase the risk of inflation staying high by pushing up labour costs for eurozone companies, as it weighs when to cut interest rates that are at a record...
...Price pressures also picked up, as services companies passed on higher wage costs....
...Business activity in the eurozone has picked up more than forecast, indicating the region is emerging from its recent period of stagnation, according to a closely watched survey of companies....
...“But it leads to a misallocation of capital if you favour one company over others.”...
Construction and carmaking drive stronger-than-expected performance in February
Outperformance by Italy, Spain, Portugal and Greece contrasts sharply with stagnation in Germany
...European companies expect their prices to rise in the coming three months by less than they did a month ago across all sectors, according to an EU survey that boosts hopes of further falls in inflation....
...Some analysts think falling loan demand from companies will increase the chances of rate cuts in June and at most of the four other remaining ECB meetings this year....
Strong growth in some eastern and southern countries was offset by declines in many northern EU states
...“We have therefore decided that all Maersk vessels due to transit the Red Sea/Gulf of Aden will be diverted south around the Cape of Good Hope for the foreseeable future.”...
...However, it is seeking a new sponsor to cover annual maintenance costs of €200,000 after a deal collapsed last year with a company behind caiz, a sharia-compliant cryptocurrency....
Frank Elderson apologises after comments triggered criticism over central bank’s ‘autocratic’ approach to green issues
...The outlook for the eurozone economy is brightening after activity picked up at services companies and the recent downturn in manufacturing eased, according to a closely watched survey of businesses....
...Martin Arnold Did US hiring slow in February?...
...Companies continued to add jobs for a third consecutive month, albeit at “only a very modest pace”, S&P said....
...Here to tell me more is Martin Arnold, the FT’s Frankfurt bureau chief. Hi, Martin. Martin Arnold Hello....
Some policymakers backed cut at Thursday’s meeting as bank signals it will consider such a step in June
...One showed companies expect wage growth to slow, profit margins to shrink and the economy to make a “gradual but modest” recovery this year....
Eurozone central bank announces one of biggest overhauls of its connections to financial system for a decade
€12.2bn drop in credit supply to private sector shows how record high interest rates are ‘crushing’ demand
...Germany imposed the transit tariff in 2022 to cover the cost of refilling its gas storage tanks to hit European Commission targets intended to avoid winter shortages for businesses and consumers....
Central bank faces quandary over when to cut interest rates despite price drops in Germany and France
...German companies were still suffering from a “painful inventory correction” as they produce less than they sell and order less than they need from suppliers, Schmieding said....
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