France's power suppliers have agreed to offer small businesses struggling with price rises a guaranteed tariff of 280 euros ($298) on average per megawatt hour, Finance Minister Bruno Le Maire said, Reuters reported. "This is a guaranteed tariff and it is an enormous relief," said Le Maire after a meeting on Friday with energy executives. President Emmanuel Macron had on Thursday urged energy suppliers including EDF and TotalEnergies to do more to help customers cope with the surge in energy prices that has in recent months driven inflation to record highs.

Britain will introduce legislation to ensure key public services maintain minimum safety levels during industrial action, as the government seeks to limit disruption from strikes now involving tens of thousands of workers, Reuters reported. The government said on Thursday it would bring the bill to parliament in the coming weeks and would consult on the minimum safety levels to be set for fire, ambulance and rail services. "While we hope that voluntary agreements can continue to be made in most cases, introducing minimum safety levels...

European bond traders face greater volatility in early 2023 as governments look set to sell record volumes of debt to a market no longer propped up by central bank purchases, Bloomberg News reported. Net government supply will climb to a record of nearly €500 billion ($530 billion) in 2023, according to Barclays Plc. “There will be a big test of market liquidity,” Tom Prickett, head of rates trading for Europe, Middle East and Africa at JPMorgan Chase & Co., said in an interview.

German exports unexpectedly fell in November as high inflation and market uncertainty continue to weigh on Europe's largest economy despite fading supply chain problems, Reuters reported. Exports fell by 0.3% on the month, data from the federal statistics office showed on Thursday. November's drop comes after October's figures were revised up, to growth of 0.8% from an initially reported 0.6% fall. Imports also posted a bigger-than-expected drop of 3.3% in November, compared with consensus for a 0.5% decline.

Germany supports the World Bank modifying its country-based business model and is in favour of the Bank setting incentives for issues like climate protection, the German Development Ministry said on Thursday, Reuters reported. On Monday, Reuters reported that the World Bank was seeking to vastly expand its lending capacity to address climate change and other global crises and will negotiate with shareholders ahead of April meetings on proposals that include a capital increase and new lending tools.

U.K. Prime Minister Rishi Sunak pledged to reduce the national debt and cut inflation as he set out his priorities for the coming year against a backdrop of mounting strikes, a creaking National Health Service and dire poll ratings for his ruling Conservative Party, Bloomberg News reported. The economic goals were among five priorities outlined by the prime minister in his first set piece remarks of the year. He also outlined promises to grow the economy, tackle immigration and improve health care provision.

Poland left borrowing costs unchanged as the threat of an economic recession overshadows concerns over the highest inflation in more than a quarter century, Bloomberg News reported. The country’s key interest rate was left on hold at 6.75% for the fourth consecutive month. Central bank Governor Adam Glapinski calmed an increasingly public dispute within the rate-setting Monetary Policy Council late last year as his warnings over excessive tightening dovetailed with signs that risks from inflation were subsiding as the peak neared.

France’s unions have pledged to dig in for a prolonged fight against French President Emmanuel Macron’s plan to overhaul the country’s pension system, a new threat to his pro-business agenda, the Wall Street Journal reported. Mr. Macron’s government is meeting with unions this week, putting an explosive issue back on the table as the country navigates the economic fallout of the war in Ukraine. The government said it would detail the proposed measures next week. Revamping the country’s pension system was one the main planks of Mr.

Cineworld, the British cinema operator in bankruptcy proceedings, said today that it would not sell any of its assets individually, and that it had not held discussions with AMC Entertainment about the sale of any of its theaters, Reuters reported. The British company said it would focus on selling the group as a whole rather than disposing of individual assets, along with its restructuring efforts, and was expecting to start reaching out to potential parties for a sale later this month.