Eurozone interest rates could be cut today. Uber “considers bid for Expedia'' with super app push – Business Live | Work

The future of the HS2 rail line could soon be decided.

LBC The Government is reporting that it will soon announce that HS2 will run from London Euston to Crewe.

According to LBC State-owned HS2 LTD will not oversee the extension to Crewe and the multi-billion pound project will instead be handed over to a private sector consortium, according to reports.

LBC say:

A source close to the project said ministers had reassessed the cost-effectiveness of HS2 and concluded the line should continue beyond Birmingham, overturning the then Prime Minister's decision. Rishi Sunak It happened at last year's party convention.

A year ago, Sunak scrapped the northern section of HS2, meaning it would start in Birmingham rather than Manchester.

The plan is for the line to end at Old Oak Common on the outskirts of central London, unless private investment pays for the route to reach Euston.

Last week, Cabinet Secretary Lisa Nandy hinted that a reduced-priced HS2-lite would be run from Birmingham to Crewe.

Rail industry analysis shows it makes financial sense to run a route from Crewe to Euston.

The euro fell to a two-and-a-half month low as investors expected the European Central Bank to cut interest rates today.

The currency fell to $1.0847 this morning, its lowest level since August 2.

It reached $1.12 at the end of September and fell through October.

Kathleen Brooks research director of XTB, If the ECB is dovish today, it would suggest that the euro could fall further.

The ECB has little choice but to cut interest rates. The German economy continues to show signs of struggling. Investor confidence in Germany was weaker than expected this week, with inflation rates very low in many euro zone countries.

Ahead of the meeting, EUR/USD hit a new two-month low, trading around $1.0850. Markets are already pricing in a lot of expectations, but the euro's momentum is to the downside, and the ECB's dovish tilt could make it worse.

Shares in Expedia, the nearly $20 billion U.S. travel booking website, are expected to rise today following reports that transportation and delivery company Uber is considering a potential acquisition.

UberThe Financial Times reports that the company has approached advisers in recent months to explore whether such a deal is possible and how it could be structured.

Probably Uber's Make even larger acquisitions that give us access to new growth opportunities. However, the situation is still in its early stages, as no formal approach has been made to Expedia, and the two sides have not held any discussions.

A partnership would help Uber transform into a “super app” that offers users a wide range of services through a single application, much like Chinese tech groups such as WeChat are already doing.

Interestingly, Uber's CEO Dara Khosrowshahi He was previously the CEO of expedia.

expedia's Shares rose 7.2% in after-hours trading on Wall Street. Uber's The stock price fell 2.9%.

good morning. Welcome to our regular coverage of business, financial markets and the global economy.

A welcome slowdown in global inflation is paving the way for central banks to cut interest rates, and today's focus is on european center bank.

of E.C.B. is expected to cut interest rates for the third time this year, making it the second such cut. bank of england. Policymakers are under pressure to cut interest rates after estimates suggest inflation in the euro zone will be lower than expected. E.C.B. Achieving the 2% target in September (final values ​​also available today).

Economists predict that E.C.B. The Governing Board met today in Ljubljana, Slovenia, and plans to cut deposit interest rates by a further quarter of a percentage point to 3.25%. president Christine lagarde The door to further rate cuts in December is also expected to remain wide open.

Lower interest rates will be welcomed by businesses and consumers across the euro zone, as European countries such as Germany have struggled this year.

Last week, the Governor of the Central Bank of Greece Giannis Sturnaras Putting pressure on the board, it declared “very restrictive” interest rates could be lowered sooner than previously expected.

neil hutchison European Liquidity Strategy Portfolio Manager JP Morgan Asset Management, He says he would be surprised if the ECB did not cut rates today.

“With Halloween just around the corner, we don't expect any scary surprises from the ECB this week. The ECB is likely to cut rates by 0.25% following weak PMI business survey data.

The recent cooling in inflation statistics means that the burden of underlying price pressures has eased. With minimal pushback from ECB members, markets would be surprised if a rate cut does not materialize.

Beyond this meeting, concerns about a potential slowdown in growth and geopolitical tensions cast a Halloween haze on the outlook, even as wage growth remains solid and unemployment remains low. ”

agenda

• 10am (BST): Eurozone inflation forecast for September (final)

• 1.15pm BST: European Central Bank sets interest rates.

• 1:30pm BST: US retail sales for September

• 1:30 p.m.: Weekly U.S. unemployment claims.

• 1:45pm BST: European Central Bank press conference

• Tonight: Annual City Banquet at Mansion House