By David Milliken and Andy Bruce LONDON (Reuters) – New British finance minister Kwasi Kwarteng will detail close to 200 billion pounds ($225 billion) of tax cuts, energy subsidies and planning reforms on Friday, as part of Prime Minister Liz Truss’s bid to end “Treasury orthodoxy” and spur growth. Truss beat former finance minister Rishi…
KYIV, Ukraine (AP) — A Kremlin-orchestrated referendum got underway Friday in occupied regions of Ukraine that sought to make them part of Russia, with some officials carrying ballots to apartment blocks accompanied by gun-toting police. Kyiv and the West condemned it as a rigged election whose result was preordained by Moscow. Meanwhile, in a grim…
Stocks fell sharply worldwide Friday on worries an already slowing global economy could fall into recession as central banks raise the pressure with additional interest rate hikes. The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020. The S&P 500 fell 1.7%, close to its 2022 low set in mid-June,…
(Corrects to paraphrase paragraph 8 comments) By Vidya Ranganathan SINGAPORE (Reuters) – As the Bank of Japan steps into currency markets for the first time in decades to defend a battered yen, it is running into numerous obstacles, chiefly its own stubborn commitment to ultra-easy monetary settings. Thursday’s sudden burst of yen-buying intervention by Japanese…
By Tom Westbrook SYDNEY (Reuters) – Stocks hit a two-year low on Friday and bonds eyed big weekly losses as the prospect of U.S. interest rates rising further and faster than expected rattled investors, while a rising dollar had currency markets skittish following Japan’s intervention. Interest rates rose sharply this week in the United States,…
A look at the day ahead in European and global markets from Anshuman Daga Friday is shaping up as a slow day. Well, sort of. Equity markets are still licking their wounds, U.S. bond yields are at 11-year highs and the dollar is hovering near a two-decade peak. [MKTS/GLOB] Still, investors have probably had enough…
DHAKA, Bangladesh (AP) — Standing in line to try to buy food, Rekha Begum is distraught. Like many others in Bangladesh, she is struggling to find affordable daily essentials like rice, lentils and onions. “I went to two other places, but they told me they don’t have supplies. Then I came here and stood at…
SHANGHAI (Reuters) – Five Chinese tech-focused ETFs launched on Friday, testing investor appetite for chipmakers, new materials producers and machine tool manufacturers amid an escalating Sino-U.S. tech war, and a global rout in tech shares. The new batch of exchange-traded funds (ETFs) were given regulatory approval at record pace over the weekend, in an apparent…
By Rae Wee SINGAPORE (Reuters) – The yen was on track for its first weekly gain in more than a month on Friday after Japanese authorities intervened in foreign exchange markets for the first time since 1998, while a towering dollar kept other currencies pinned near multi-year lows. The yen was up about 0.1% to…
By Laila Kearney (Reuters) – Oil prices rose in early Asian trade on Friday on the prospect that a stalled Iran nuclear agreement and Moscow’s new mobilization campaign in its invasion of Ukraine would further restrict global supplies. Brent crude futures gained 16 cents, or 0.2%, to $90.62 per barrel by 0020 GMT, while U.S….
