UK home asking prices rise, tax cuts to spur demand
Asking prices for British homes advertised rose solidly this month and last week’s cut to property purchase tax announced by finance minister Kwasi Kwarteng could fuel demand further, property ...
Pound plunge the latest ill omen as stocks slide
Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of England, as confidence evaporated in Britain’s plan to borrow its way ...
UK bonds and pound at centre of storm as tax shock hammers confidence
Britain’s bond market suffered its biggest daily fall in decades on Friday and is expected to slump further, as investors choked on the prospect of hundreds of billions of ...
Inflation, spending cuts undermine Biden’s hunger policy
Grace Melt made her first visit to the Nourishing Hope food pantry on Chicago’s North Side in August. Throughout the COVID-19 pandemic, she used food stamps issued by the ...
Brokerages jump on report SEC stops short of banning PFOF deals
Shares of retail brokerage Robinhood Markets Inc and market maker Virtu Financial (VIRT.O) jumped following a media report that the US Securities and Exchange Commission (SEC) will stop short ...
Crypto exchange Kraken has no US SEC registration plans, says incoming CEO
Cryptocurrency exchange Kraken has no plans to delist tokens the US Securities and Exchange Commission has labelled as securities, or to register with the agency as a market intermediary, said ...
Bankrupt crypto lender Voyager’s CFO to exit months after appointment
Voyager Digital Ltd Chief Financial Officer Ashwin Prithipaul is preparing to step down from his role within months of his appointment at the crypto lender that filed for bankruptcy in ...
Toyota Motor to close its factory in Russia
Japan’s Toyota Motor Corp (7203.T) said on Friday that it had decided to end vehicle production in Russia due to the interruption in supplies of key materials and parts.
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Ericsson says no hardware exported to Russia, only software support
Ericsson (ERICb.ST) said on Friday it is only providing software and technical support to Russian clients and has not sold any telecommunications equipment to mobile operators there since the ...
Russia’s SWIFT alternative expanding quickly this year, central bank says
The reach of Russia’s alternative to the SWIFT international messaging system has grown at record pace this year, the central bank said on Friday, as Moscow ramps up efforts ...
European Union: a cold winter
By Maria Demertzis
According to current estimates, the European Union spends about 9 per cent of its gross domestic product on energy consumption. As a proportion of its income, this is ...
Extra flavour and fraud prevention on the menu for Europe’s beer and wine industries
By Daniela De Lorenzo
Europe’s valuable wine and beer industries are working to retain their competitive edge with an expanded range of aromas and blockchain-based fraud prevention.
The debate ...
Russian airlines staff start to receive conscription notices, Kommersant reports
Russian employees at airlines and airports have started to receive conscription notices after President Vladimir Putin ordered a partial military mobilisation, the Kommersant newspaper reported on Friday citing sources.
Employees ...
UK market meltdown? Nothing to see here, minister says
Britain’s deputy finance minister on Saturday played down a historic collapse in the pound and government bonds in response to the country’s new economic growth plan, which sent ...
What Italy’s Giorgia Meloni would mean for Europe
By Luigi Scazzieri
Italy’s election on September 25th is likely to result in a right-wing coalition government made up of Giorgia Meloni’s Brothers of Italy, Matteo Salvini’s ...
Accenture warns of forex hit amid strong IT services’ demand
Accenture Plc on Thursday warned this year’s dollar surge would hurt its fiscal 2023 results, even as robust demand for digital offerings helped the IT services major top quarterly earnings ...
German economic downturn deepens in Sept, outlook grim
The downturn in German business activity deepened in September, a preliminary survey showed on Friday, as higher energy costs hit Europe’s largest economy and companies saw a drop in ...
Oil prices edge down, recession fears back in focus
Oil prices fell on Friday amid recession fears and a stronger US dollar, though losses were capped by supply concerns after Moscow’s new mobilisation campaign in its war with ...
Turkey’s lira at fresh record low after surprise rate cut
The Turkish lira sank to a fresh record low on Thursday after the central bank delivered yet another surprise interest rate cut, this time of 100 basis points.
The CBRT cut ...
HSBC fund arm toughens thermal coal policy to curb climate change
HSBC Holdings Plc told Reuters on Thursday it will stop financing the expansion of thermal coal from funds it manages actively with immediate effect, marking an acceleration of a broader ...
No relief for bruised markets as Fed signals higher rates for longer
A Federal Reserve dead-set on fighting inflation is leaving little hope that this year’s rocky markets will end anytime soon, as policymakers signal rates rises faster and higher than ...
Dollar towering, stocks cowering as Fed flags more hikes
The dollar surged to a fresh two-decade high and stocks slid on Thursday with investors unsettled by the Federal Reserve’s aggressive outlook for US interest rates and braced for ...
Oil rises as supply fears outweigh recession worries
Oil rebounded on Thursday after sliding 1 per cent in the previous session as concerns over tight supplies heading into winter eclipsed fears of a global recession.
Brent crude futures rose 15 ...
Europe’s vegetable farmers warn of shortages as energy crisis bites
Emmanuel Lefebvre produces thousands of tonnes of endives on his farm in northern France annually, but this year he may abandon his crop because of the crippling energy costs required ...