Bank of England seeks to stem bond market turmoil after tax cut storm

BoE starts buying bonds, delays gilt sales IMF does ‘not recommend’ policies like UK growth plan Moody’s: economic plan is ‘growth negative’ Pound trading down 0.7% to $1,065 Kwarteng meets banking bosses again LONDON, Sept 28 (Reuters) – The Bank of England sought to quell a fire-storm in Britain’s bond markets, saying it would buy … Read more

US fines 16 Wall Street firms $1.8 bln for talking deals, trades on personal apps

Sept 27 (Reuters) – US regulators on Tuesday fined 16 financial firms, including Barclays (BARC.L), Bank of America , Citigroup , Credit Suisse (CSGN.S), Goldman Sachs , Morgan Stanley and UBS (UBSG.S), a combined $1.8 billion after staff discussed deals and trades on their personal devices and apps. The sweeping industry probe, first reported by … Read more

Fed officials stare down markets, say inflation is top focus

Register now for FREE unlimited access to Reuters.com register WASHINGTON, Sept 26 (Reuters) – US Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping US stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. “There are interactions there,” Cleveland Fed President Loretta Mester said, noting that … Read more

Rampant dollar pauses for breath as bears stalk stocks

Register now for FREE unlimited access to Reuters.com register HONG KONG, Sept 27 (Reuters) – Asian markets attempted to stabilize on Tuesday after a wild few days during which most assets, barring the dollar, fell, with the greenback easing a bit and stocks flat. Sterling , which collapsed to a record low $1.0327 on Monday, … Read more

Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Pound briefly touched a record low against dollar Five-year gilts match Friday’s record daily slump Yields on 2-year and 5-year debt up 100 bps in 2 days Finance minister to detail fiscal plans on Nov. 23 BoE monitoring developments ‘very closely’ LONDON, Sept 26 (Reuters) – The Bank of England said on Monday it would … Read more

Oil prices fall for a second day on concerns for expected recession

Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com register Sept 26 (Reuters) – Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by … Read more

Sterling crumbles to record low, dollar soars on UK fiscal angst

Woman holds British pound banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration/ Register now for FREE unlimited access to Reuters.com register TOKYO, Sept 26 (Reuters) – Sterling tumbled to a record trough on Monday as traders scampered for the exits on speculation the new government’s economic plan will stretch Britain’s finances to the … Read more

Sterling collapses as investors fly into dollars

Register now for FREE unlimited access to Reuters.com register Sterling hits record low; risk of BOE response EUR down 1%; Aussie, kiwi, yuan hit multi year lows S&P 500 futures down 0.6% SYDNEY, Sept 26 (Reuters) – Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of … Read more

Exclusive: Italy and Intel pick Veneto as preferred region for new chip plant

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. REUTERS/Arnd Wiegmann/File Photo Register now for FREE unlimited access to Reuters.com register Intel to build advanced packaging and assembly site in Italy Draghi’s successor to have a say … Read more

Exclusive: Credit Suisse sounds out investors about capital hike

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Reuters.com register ZURICH, Sept 23 (Reuters) – Credit Suisse is sounding out investors for fresh cash, two people familiar with the matter said, approaching them for the … Read more