Pension fund panic led to Bank of England’s emergency intervention

Pension fund panic led to Bank of England’s emergency intervention

The Bank of England on Wednesday launched a historic intervention in the UK bond market in order to shore up financial stability, with markets in disarray following the new government’s fiscal policy announcements. Bloomberg | Bloomberg | Getty Images LONDON – The Bank of England launched a historic intervention to stabilize the UK economy, announcing … Read more

Musk accuses SEC of unlawfully muzzled him | Business and Economy News

Musk needs to get prior approval before tweeting about Tesla, a requirement he called ‘government-imposed muzzle’. US securities regulators are unlawfully muzzling Tesla CEO Elon Musk, violating his free speech rights by continually trying to enforce a 2018 securities fraud settlement, Musk’s lawyer is contending in a court brief. The document, filed late Tuesday with … Read more

LiveWire is the Latest EV Maker to go Public via SPAC Merger

photo: LiveWire Harley Davidson has sold off its electric bike brand LiveWire in the latest Special Purpose Acquisition Company merger to hit the EV space, a new study finds carmakers are just as bad for the environment as oil giants, and Bring a Trailer hits $1 billion in sales. All this and more in The … Read more

In this turbulent market, there are opportunities everywhere

In this turbulent market, opportunities abound, according to JPMorgan’s Mary Callahan Erdoes. Stocks have been trading in a bear market this year as investors navigate inflation, Federal Reserve interest rate hikes and talk of a potential recession. On Wednesday, the S&P 500 rebounded after hitting a fresh low for the year in the prior session. … Read more

UK central bank intervenes in market to halt economic crisis

LONDON (AP) — The Bank of England took emergency action Wednesday to stabilize UK financial markets and head off a crisis in the broader economy after the government spooked investors with a program of unfunded tax cuts, sending the pound tumbling and the cost of government debt soaring The central bank warned that crumbling confidence … Read more

5 things to know before the stock market opens Wednesday, September 28

Traders on the floor of the NYSE, Sept. 27, 2022. Source: NYSE Here are the most important news items that investors need to start their trading day: 1. Looking for a bottom For a while it looked hopeful US stock markets had fallen as far as they could this year. Since June, stocks had been … Read more

Nearly 70% of Americans are looking for extra work to combat inflation

A few months ago, Mike Petree noticed an alarming pattern: His bank account would get uncomfortably low on the weekends before he’d get his paycheck, paid biweekly on Wednesdays. Despite no changes to their daily habits, bills for him and his family of five skyrocketed: a $120 weekly grocery bill ballooned to $200, and a … Read more

Stocks gain ground a day after Dow entered a bear market

NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday a day after a broad sell-off sent the Dow Jones Industrial Average into a bear market to join other major US indexes. The S&P 500 rose 1% as of 10:22 am Eastern. The Dow rose 219 points, or 0.8%, to 29,498 and … Read more

5 things to know before the stock market opens Tuesday, September 27

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, September 26, 2022. Brendan McDermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Stocks try to shake it off, again US stock futures were headed for a higher open Tuesday … Read more

Why is the British pound tanking as the US dollar soars? | Business and economy

As the British pound plummets in value, the US dollar is flying high. Against a tumultuous backdrop that includes the Ukraine war, soaring prices and China’s COVID lockdowns, sharp fluctuations of some of the world’s major currencies are injecting new uncertainty into the global economic outlook. Why is the British pound in freefall? On Monday, … Read more