STORY: From a rate hike at last for the euro zone, to a massive fine for Didi, this is the week in Numbers. First up….
Exactly 0% is now the interest rate in the euro zone. The ECB this week finally joined peers in hiking rates, and it surprised markets with a half percentage point rise - double what was expected. That took its benchmark rate from less than zero, to precisely zero.
Bank chief Christine Lagarde said soaring consumer prices left no choice:
“We expect inflation to remain undesirably high for some time, owing to continued pressure from energy and food prices.”
75% of Tesla’s bitcoin stash was converted to regular old-fashioned currencies over the latest quarter. That helped limit losses as the token tumbled in value. But Elon Musk says don’t take it as any kind of verdict on bitcoin. He says the plan was just to stock up on cash in uncertain times.
Almost $10 billion is how much France is offering to fully nationalize EDF. Paris wants to take charge of the nuclear power company amid a mounting energy crisis in Europe.
$1.2 billion is how much China just fined ride hailing app Didi Global over data security breaches. It’s been in trouble with regulators since pushing ahead with a New York share sale despite being told not to.
And 48% was the dive in second-quarter profit at Goldman Sachs. A slump in big deals hit its investment banking business.