Latest news with #Frankfurt-based
Yahoo
6 days ago
- Business
- Yahoo
European Central Bank leaves key deposit rate unchanged at 2%
The Frankfurt-based European Central Bank kept the deposit facility rate, the main interest rate influencing monetary policy, at 2% on Thursday, which is the lowest level in more than two years. As the economy is performing relatively well and the US trade talks are still underway, analysts were expecting no rush from the European Central Bank (ECB) to lower the benchmark interest rate. The ECB sets the monetary policy for the eurozone, mainly through three interest rates. The deposit facility is the interest rate banks receive when they deposit money with the central bank overnight. The interest rate on the main refinancing operations is the rate banks pay when they borrow money from the ECB for one week, while the marginal lending facility is the rate banks pay when they borrow from the ECB overnight. Both the main refinancing operations and marginal lending facility rates remained unchanged at 2.15% and 2.40% respectively on Thursday. At the ECB's previous meeting, the bank cut its key interest rates for the eighth time since June 2024, bringing down the key rate to 2%, from a record high of 4%. While inflation in the eurozone is remaining close to the 2% target of the central bank, a potential EU-US trade agreement could fuel price increases in the bloc. Therefore, the ECB was expected to hold off cutting rates until the potential implications of the EU-US trade talks become clear. "What is probably holding most sway in this decision is the tariff uncertainty that remains abound," says Richard Carter, head of fixed interest research at Quilter Cheviot. The EU-US trade talks are up against the 1 August deadline. "While it looks like the US and EU may approve some sort of deal by then, it is by no means a guarantee. Even if something is agreed, it is also likely to be fairly light on detail. As such, the ECB will want to see what is agreed, if anything, before making its next move," Carter added. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Irish Independent
6 days ago
- Business
- Irish Independent
ICS Mortgages cuts rates despite ECB pausing reductions
The new variable rates are available from the start of August. The reduction is just 0.2 percentage points. ICS, which is the trading name of Dilosk, said the reduction applies across all loan to value bands for new and existing owner occupier variable rate customers. Chief commercial officer at ICS Mortgages Ray McMahon said: 'We are pleased to introduce these rate reductions as part of our ongoing efforts to deliver value and support to our customers. At ICS Mortgages, our mortgages remain innovative and responsive to our customer's needs.' But ICS said there will be no changes to interest rates for former Ulster Bank Flexible Mortgage customers who migrated to Dilosk. Earlier this week, AIB units EBS and Haven said they were cutting interest rates on their non-green mortgages by up to 0.50pc for new and existing customers. The latest ICS Mortgages, EBS and Haven reductions are being implemented despite the European Central Bank (ECB) leaving its interest rates unchanged this week after eight previous reductions. Many experts reckon the ECB is now finished its rate-cutting actions. However, some market watchers say their could be one more 0.5 percentage point reduction in ECB rates later in the year. The Frankfurt-based central bank is on hold as it waits to see how big a blow US President Donald Trump's tariffs will inflict on the economy before deciding whether to cut rates again. Bank boss Christine Lagarde said: 'The economy has so far proven resilient overall in a challenging global environment. 'At the same time, the environment remains exceptionally uncertain, especially because of trade disputes.' The ECB has already cut rates eight times since June of last year and Ms Lagarde said after the last policy meeting on June 5 that the central bank is 'getting to the end of a monetary policy cycle'. Inflation has fallen from double digits in late 2022 to 2pc in June, in line with the ECB's target. A stronger euro, which lowers the price of imports, and softer global prices for oil have helped keep inflation moderate. The stronger euro, up 13pc this year, has attracted attention as a potential damper on growth.
Euronews
24-07-2025
- Business
- Euronews
European Central Bank leaves key deposit rate unchanged at 2%
The Frankfurt-based European Central Bank kept the deposit facility rate, the main interest rate influencing monetary policy, at 2% on Thursday, which is the lowest level in more than two years. As the economy is performing relatively well and the US trade talks are still underway, analysts were expecting no rush from the European Central Bank (ECB) to lower the benchmark interest rate. The ECB sets the monetary policy for the eurozone, mainly through three interest rates. The deposit facility is the interest rate banks receive when they deposit money with the central bank overnight. The interest rate on the main refinancing operations is the rate banks pay when they borrow money from the ECB for one week, while the marginal lending facility is the rate banks pay when they borrow from the ECB overnight. Both the main refinancing operations and marginal lending facility rates remained unchanged at 2.15% and 2.40% respectively on Thursday. At the ECB's previous meeting, the bank cut its key interest rates for the eighth time since June 2024, bringing down the key rate to 2%, from a record high of 4%. While inflation in the eurozone is remaining close to the 2% target of the central bank, the latest flash estimates show a slight uptick, keeping the bank cautious about how to proceed. According to Eurostat, consumer prices rose by 2% year-on-year in June, up from 1.9% in May. Core inflation — which excludes volatile items such as food and energy — remained steady at 2.3%. A potential EU-US trade agreement could also fuel inflation in the bloc, therefore, the ECB was expected to hold off cutting rates until the potential implications of the EU-US trade talks become clear. This is a developing story which we will continue to update as more information becomes available.
Arabian Post
15-07-2025
- Business
- Arabian Post
Consortium Secures €6.7bn Techem Buyout to Accelerate Digital Decarbonisation
Arabian Post Staff -Dubai Abu Dhabi's Mubadala Investment Company, Partners Group, GIC and TPG Rise Climate have agreed a €6.7 billion deal to acquire Techem, the Frankfurt-based energy‑efficiency firm, in a strategic move poised to reinforce digital-first submetering and sustainability in European real estate. The transaction—set to conclude in the second half of 2025, pending regulatory approvals—will see Partners Group's infrastructure arm retain a controlling stake, while Mubadala, GIC and TPG Rise Climate take minority positions alongside, marking a rotation in ownership strategy. The sale ends the tenure of the prior consortium including La Caisse and Ontario Teachers' Pension Plan, which supported Techem since 2018. ADVERTISEMENT Techem, founded in 1952 and based in Eschborn, operates in 18 countries and serves more than 440,000 customers with over 13 million dwellings under its care. Approximately 62 million devices are currently installed across its footprint. Under Partners Group's 2018 private equity-led acquisition, Techem grew its sales beyond €1 billion and increased EBITDA by nearly 50%. This expansion solidified its role as a leading provider of submetering services—a crucial component in the decarbonisation of real estate, a sector responsible for around 40% of global CO₂ emissions. The new ownership strategy aims to deepen digital integration, expand offerings to include smart meters, and capitalise on evolving regulations, rising energy prices and corporate net-zero commitments. 'Techem is at the forefront of energy services and is uniquely positioned to drive energy efficiency within the real estate sector,' noted Boon Chin Hau, CIO of GIC Infrastructure, underscoring the group's confidence in Techem's strategic outlook. Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala's private equity platform, emphasised the importance of helping find solutions to global challenges, reflecting the company's ongoing shift toward purpose-driven capital deployment. Implementation will include further digitalisation of operations and service expansions tailored to improve building efficiency. This deal, valued at €6.7 billion, ranks among the year's largest private‑market transactions globally. Techem's technology deploys submetering for heating and water, enabling accurate billing and encouraging lower consumption. Their low‑investment, non‑invasive approach aligns well with landlords and property owners seeking cost-effective energy solutions. Trends in European regulation and growing pressure on emissions reduction give the firm a favourable market tailwind—a factor the new consortium appears ready to exploit. Despite an earlier attempt by TPG to buy out Techem independently in October 2024, that bid fell through after EU antitrust scrutiny. The current agreement reflects a more collaborative structure that shares risk and maintains continuity under infrastructure stewardship. Commenting on continuity, Techem's CEO Matthias Hartmann stated that the company's strategic direction would remain unchanged, emphasising a steady course under the incoming partners. The transaction parallels broader investment patterns in smart‑energy firms. Over the past year, GIC has partnered with investors such as EQT to acquire UK smart‑meter provider Calisen—a sign of growing interest in climate‑aligned infrastructure. With assets under management spanning global private markets, Partners Group leads the infrastructure side with over US$27 billion, while Mubadala and GIC bring sovereign-backed financial clout, and TPG Rise Climate adds dedicated impact‑investment expertise; together they form a powerful alliance geared towards scaling energy efficiency across European real estate.
Euronews
12-07-2025
- Science
- Euronews
Scientists debunk myths about ‘charismatic' raccoons in Germany
Once seen as endearing additions to European wildlife, North American raccoons have become a serious threat to Germany's ecosystem. Now, scientists are pushing back against popular myths that paint the invasive predator in a sympathetic light. A new paper from Frankfurt-based scientists, published in Ecological Indicators, calls for urgent action. The authors argue that raccoons are wreaking havoc on native flora and fauna, and that misinformation is fuelling the problem. Up to two million raccoons are now estimated to be in Germany, a population surge that has occurred despite animal control efforts. In urban areas like Kassel, which has one of the highest raccoon densities in Europe, there are more than 100 of the mostly nocturnal creatures per 100 hectares. That's roughly one per football pitch. Researchers say this explosion has triggered alarming losses among local species. Raccoons, they warn, are not opportunistic scavengers, as they are often portrayed, but rather effective predators. They raid nests, destroy clutches of eggs and young animals and exhibit what the scientists call a 'hunting frenzy' in sensitive habitats. Emotional myths hinder urgent action Led by researchers from Goethe University, the Senckenberg Biodiversity and Climate Research Center, the study set out to identify the different stages of the raccoon infestation in Germany in order to apply the finding to other invasive species in Europe. 'We are documenting a dramatic decline in sensitive species in areas with high raccoon densities,' says Dr Norbert Peter, who leads ZOWIAC (Zoonotic and Wildlife Ecological Impacts of Invasive Carnivores), the joint project that spearheaded this research. The raccoon's rapid spread, they found, has been accompanied by persistent misinformation, ranging from false claims that hunting makes them reproduce faster to unsupported ideas about their social structure. According to the authors, many of these narratives are rooted in outdated or misapplied studies. Many of them began in North America and followed the raccoons overseas. 'These myths have real-world consequences,' warns Dr Dorian Dörge, the project's scientific coordinator. 'They prevent necessary protective measures and thereby endanger already threatened native species.' Perceptions also play a powerful role. Research shows that raccoons' photogenic faces and playful behaviour contribute to a strong emotional bias among the public, one that can stifle science-based conservation efforts. And other approaches, such as sterilisation, are considered unfeasible, if not illegal under EU rules on managing invasive alien species. To reverse the damage, the researchers are calling for coordinated control plans, including increased hunting in sensitive areas, federal funding and improved public education. 'We must implement the legal requirements for species protection consistently,' says Professor Sven Klimpel, lead author of the study, 'and not let them be overridden by sympathy for charismatic animals.' Invasive species threaten biodiversity across Europe Germany's raccoons are not the continent's only invaders. The EU is facing a growing number of invasive alien species, fromalgae and poisonous fish that now populate the Mediterranean to so-called murder hornets. More than 12,000 alien species are present in Europe today, according to the European Commission. As many as 15 per cent are considered invasive. Nearly 90 of them are designated as 'of Union concern,' meaning member states are legally required to prevent their introduction, monitor their spread and control or eradicate them. In Europe, recent outbreaks include the Asian hornet, which has spread rapidly from France to as far away as Slovakia. Meanwhile, 900 invasive species pose threats to biodiversity in Mediterranean waters. Efforts to convert consumers intoculinary enthusiasts of species such as pufferfish have had halting success. These unwelcome creatures cost the EU an estimated €12 billion per year, according to the Commission. Globally, invasive species cost economies almost€400 billion. Much like the raccoons, some might not seem invasive, either. For example, theAfrican sacred ibis – a bird revered in ancient Egypt – is now setting off alarms among European officials. The bird has spread rapidly in northern Italy, preying on amphibians as well as the eggs and chicks of other species, such as tern and heron. As both cases show, combating invasive species requires a multi-pronged approach. One that can be as much about confronting misconceptions as managing ecosystems.
