Headlines

Sweden’s central bank cut its key policy rate to 1.75% Tuesday and suggested the move could mark the final monetary easing of the current cycle, the Wall Street Journal reported. Policymakers had left rates unchanged at its previous meeting but noted at the time that weak economic activity might prompt further rate cuts this year, especially as it put an uptick in inflation down to only temporary factors.

Altos Hornos de México (Ahmsa), once the country's largest steelmaker, is continuing its bankruptcy process by selling assets to raise up to US$1.326 billion, BNamericas.com reported. The second district judge in bankruptcy matters, Ruth Huerta, authorized the public announcement of the proposed sale of the assets of Ahmsa and its subsidiary, Minera del Norte ( Minosa ). Of the total amount, approximately US$1.2 billion corresponds to Ahmsa's assets and US$125 million to Minosa's assets, according to a court settlement dated September 11 and disclosed last week.

Business activity expanded in Europe this month, but at a level that suggests the wider economy is growing only slowly, the Wall Street Journal reported. The composite purchasing managers’ index for the eurozone, a gauge of private-sector activity across the 20 nations that share the euro, rose to 51.2 this month from 51.0 in August, reaching its highest level in 16 months. A reading above 50 on the index indicates expansion rather than contraction in activity compared with a month earlier. In services, activity expanded at its fastest rate this year, the surveys showed.

Brazil's central bank said on Tuesday that it has entered a "new stage" in which policymakers opt to keep interest rates unchanged while evaluating whether the current level is enough to ensure inflation converges to its 3% target, Reuters reported. In the minutes from its latest meeting, where it held the benchmark Selic rate at a near two-decade high of 15% for the second consecutive time, the bank said that policymakers would not hesitate to resume a hiking cycle if deemed appropriate.

The governments of Britain and the United States will set up a body to reduce red tape for firms seeking to access capital markets on both sides of the Atlantic and improve cooperation on crypto assets, Britain's finance ministry said on Monday, Reuters reported. The Transatlantic Taskforce for Markets of the Future will report back within 180 days on ways to enhance collaboration in the short term and on longer-term options, including in wholesale digital markets, the Treasury said. Creation of the taskforce was approved by British finance minister Rachel Reeves and U.S.

The UK’s Financial Conduct Authority has reduced the time it takes to approve crypto registration applications by 69% since 2023, although data from the regulator also show that there has been a 43.5% decline in applications over the past two years, Decrypt.com reported.

Indonesia and the European Union have signed a long-awaited trade deal that comes as Asian countries reposition themselves in a landscape reshaped by U.S. tariffs, the Wall Street Journal reported. The pact, which Jakarta and the EU have been negotiating for over nine years, was inked Tuesday during European Commissioner for Trade & Economic Security Maroš Šefčovič’s visit to Indonesia. “This agreement eliminates over 98% of tariffs, removing nearly all barriers to trade and opening new pathways for investment,” the European official said.

Euro zone economic growth continues to hold up as Germany's budget largesse props up sentiment and offsets turmoil in France, but more weakness may be ahead as U.S. tariffs start to exert their full effect, key data showed on Tuesday, Reuters reported. The euro zone has been expanding quicker than economists had expected this year, sparking debate over whether the bloc is simply more resilient than thought and how much damage French political turmoil will do across the 20 nations.

Carpetright has filed for bankruptcy in the Netherlands. Its 75 stores have closed, while 350 jobs are at risk, RetailDetail.eu reported. It is the latest in a long series of troubles for the former retail giant. On Friday morning, the chain applied for protection against creditors, but that was already converted into bankruptcy by the afternoon. Management blames a new software system, which caused problems during start-up, but claims the company is “fundamentally sound”.