All the day’s economic and financial news, including new growth figures from Germany and Italy, UK inflation data, and the latest on Greece’s bailout talks * German GDP rises by 0.4% * Net trade drags German growth down * Coming up: UK inflation expected to rise again * Greek farmers protesting in Athens later * Fed chair Janet Yellen testifies to Congress 8.24am GMT COMMERZBANK ANALYST JOERG KRAEMER ARGUES THAT GERMANY’S ECONOMY IS STILL IN GOOD SHAPE, EVEN THOUGH GROWTH MISSED FORECASTS IN THE LAST QUARTER. He says: “The fourth quarter was not as strong as most economists had expected, but sentiment surveys rose sharply in the past months and orders are also pointing upward,” “Therefore growth could slightly pick up in the first quarter of 2017.” 8.09am GMT IT’S A HISTORIC DAY FOR ROLLS-ROYCE, FOR THE WRONG REASONS. The engine-maker has reported its biggest ever loss, a whopping £4.6bn, this morning, due to sterling’s weakness and the company’s £671m fine for bribery. Related: Rolls-Royce posts largest loss in its history after settling bribery charges Continue reading...
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