More than 200 of the world’s largest listed companies forecast that climate change could cost them a combined total of almost $1trn (€890bn), with much of the pain due in the next five years, according to a report.

Low interest rates are justified by economic conditions in the eurozone and their impact on banks’ profitability should not be exaggerated, says ECB policymaker Francois Villeroy de Galhau.

Mario Draghi steps down as head of the ECB at the end of October and the field of candidates to replace him has narrowed. Here are the leading contenders to take over from “Super Mario”

Some ECB policymakers are reluctant to alter their guidance on interest rates as a move could tie the hands of the bank’s next president many months before an appointment is even made, four sources have said.

French economic growth this year will fall short of the 1.5% economists say is the minimum needed to lower persistently high unemployment, the country’s central bank governor has said.