Global stock markets welcome Federal Reserve’s decision not to hike rates last night * Europe has too many banks - ECB boss Draghi * Bank of England sees ‘challenging period’ after Brexit vote * But factories have a good September * Pound and shares rally * The agenda: Fed calms the markets 6.20pm BST ANY SPEECH BY THE BANK OF ENGLAND GOVERNOR MARK CARNEY WILL BE SCOURED FOR CLUES AS TO HIS LATEST VIEWS ON UK INTEREST RATES. But Carney’s comments in a speech in Berlin offer little enlightenment on that subject, being more concerned with green financing. Katie Allen reports: Bank of England governor Mark Carney has thrown his weight behind taking the fledgling market in green investments mainstream to help cut carbon emissions and boost global economic growth at the same time. Carney used a speech in Berlin on Thursday to highlight green finance as an opportunity to boost financial stability while also tackling climate change. He made no reference to the Bank’s current stance on interest rates in the UK, which were cut to a record low last month to shore up the post-referendum economy. But Carney did discuss the global picture of low interest rates and how more investment in green technologies and and projects to cut emissions could help raise interest rates. 6.01pm BST Over in Greece protests are back on the increase with seamen beginning a two-day strike and anarchists piling the pressure on ticket inspectors by taking over their department and calling for free transport. Helena Smith reports from Athens: The heavy price inflicted on Greece as a result of its rescue by bailout was rammed home again today as seamen – in the first of a series of autumn strikes – walked off the job in protest over pension cuts. Ferries plying routes between islands and the mainland will be stuck in ports until Saturday in a 48-hour strike that will cause havoc at a time when the country continues to enjoy a bumper tourist season. The cuts, part of reforms demanded by international lenders, have been branded “totally illegal” by seamen who are likely to continue the industrial action in the months ahead. The walk-out came as anarchists also turned up the heat on the leftist-led government, rowdily occupying the offices of public transport ticket inspectors at the transport ministry. The protestors, part of a group that calls itself Rouvikonas, distributed leaflets that declared: “workers and passengers together for free transport.” In a statement posted on the anti-establishment Athens IndyMedia site the group’s members said they had carried out the sit in with the express purpose of getting inspectors to not only allow free travel but “allow the poor to get away with it.” “We call on you to reject your role, reject this work, to allow the violators to get away with it. That simple,” it said, insisting that many Greeks could simply not afford the €1.40 cost of a public transport ticket. At least ten were subsequently detained. Continue reading...
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