Truss forced to change taxes after week of market turmoil

Truss defended the policy, and markets were worried about the cost Finance Minister Kwarteng now says it was a distraction Kwarteng to put forward debt reduction plan The reduction in the highest tax rate was a small part of the overall plan Lawmakers have expressed concern about the government’s ruling BIRMINGHAM, England (Reuters) – British … Read more

Analysis: Underwater: How the Bank of England has delivered a lifeblood to the markets

Bank of England bought bonds after pension fund pleas Some UK pension funds have faced problematic margin calls BoE support is seen as giving an opportunity to build collateral The British government’s unfunded tax plan scared the markets LONDON/NEW YORK (Reuters) – Calls from the Bank of England began on Monday saying some British pension … Read more

Kwarteng defies “orthodoxy” after defeating the UK market

Weeks on the job, UK finance minister under fire for tax cuts Truss stands by a key ally but some question his future Kwarteng sacked a key official, and went without financial expectations LONDON (Reuters) – As Britain’s new chancellor to the exchequer, Kwasi Quarting hoped to undo the collective thinking in the Treasury that … Read more

EXCLUSIVE: Brands post ads on Twitter next to child pornography accounts

Sept 28 (Reuters) – Some major advertisers including Dyson, Mazda, Forbes and PBS Kids have halted their marketing campaigns or removed their ads from parts of Twitter because their promotions appeared alongside tweets urging child pornography, the companies told Reuters. Brands ranging from The Walt Disney Company (DIS.N)NBCUniversal (CMCSA.O) The Coca-Cola Company (KO.N) Children’s Hospital … Read more

British market defeat fuels contagion fears around the world

NEW YORK/LONDON (Reuters) – The scale and speed of British asset sales have rattled global markets, raising contagion concerns as chaos in a major advanced economy adds to anxiety already generated by sharp interest rate hikes. United States and elsewhere. After the UK’s mini-budget on Friday, which recorded 45 billion pounds ($48 billion) in unfunded … Read more

Gas crisis plunges LNG shipping market into the hands of energy giants

LONDON/SINGAPORE (Reuters) – The skyrocketing price of liquefied natural gas (LNG) shipping has alienated dozens of small traders, concentrating business in the hands of a handful of major global energy companies and major global trading houses. This grip is not expected to ease until 2026 when more LNG begins to emerge and lower prices, raising … Read more

Exclusive: Biden hits China with broader restrictions on exports of US chips and gadgets

Semiconductor chips are seen on a computer circuit board in this illustrative photo taken on February 25, 2022. REUTERS/Florence Law/Illustration/file photo Register now to get free unlimited access to Reuters.com Register Next month, several people familiar with the matter said, the Biden administration plans to expand restrictions on US shipments to China of semiconductors used … Read more

The Queen Elizabeth family rushes to the side of the ailing king

Register now to get free unlimited access to Reuters.com Register Doctors say the Queen, 96, is under medical supervision Heir to the throne Prince Charles with the Queen Family members go to Balmoral Castle BALMORAL, Scotland (Reuters) – Family members rushed to be with Queen Elizabeth after doctors said they were concerned about the health … Read more

EU plans to cap Russian gas price as Putin warns West against winter freeze

Register now to get free unlimited access to Reuters.com Register The European Union proposes a cap on the price of Russian gas Putin threatens to cut off all energy supplies High bill to support companies and families BRUSSELS/VLADIVOSTOK RUSSIA (Reuters) – The European Union proposed a cap on the price of Russian gas on Wednesday … Read more