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Davos Headlines

ECB expects growth slowdown, but estimates likely out of date

The European Central Bank cut its growth forecasts for this year and next on Thursday but said the new estimates, which were collated before the coronavirus outbreak in Europe, were probably already out of date. The ECB said it now expects the euro zone's economy to grow by 0.8% this year, 1.3% in 2021 and 1.4% in 2022. This compares to an expansion of 1.1% for 2020 and of 1.4% for each of the following two years projected in its December forecasts. EC

Stocks, oil tumble as Trump escalates trade war with China

U.S. President Donald Trump sent financial markets reeling on Thursday when he announced additional tariffs on Chinese products, as traders worried not only about the escalation of the trade war but also the effect on the independence of the U.S. central bank.

BAT and financials lift European stocks after Fed blow

European shares ended higher on Thursday as strong earnings from British American Tobacco and a multibillion dollar merger in the financial sector helped dispel early gloom after the U.S. Federal Reserve played down prospects for several rate cuts.

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