Turkey inflation hits new 24-year high of 83% after rate cuts

ISTANBUL, Oct 3 (Reuters) – Turkish annual inflation climbed to a new 24-year high of 83.45% in September, data showed on Monday, still lower than forecast, after the central bank surprised markets by cutting rates twice in the last two months . Despite soaring prices, the central bank was expected to cut its policy rate … Read more

Kim Kardashian pays $1.26 million fine for paid crypto ad, SEC says

WASHINGTON, Oct 3 (Reuters) – Kim Kardashian has promoted everything from appetite-suppressing lollipops to melon-flavored liqueur to toilet paper, but it was her foray into the murky world of cryptocurrencies that got her into hot water. The reality television star and influencer has agreed to settle charges of unlawfully touting a crypto security and to … Read more

Credit Suisse shares slip despite moves to soothe investor concerns

Credit Suisse caught in market turbulence ahead of revamp Shares fell as much as 10% in early trading on Monday Bank’s euro-denominated bonds reach record lows Swiss bank says its capital, liquidity are strong ZURICH, Oct 3 (Reuters) – Credit Suisse (CSGN.S) shares slid by as much as 10% on Monday, reflecting market concerns ahead … Read more

Analysis: Under water: how the Bank of England threw markets a lifeline

Bank of England bought bonds after pension fund pleas Some UK pension funds faced problematic margin calls BoE support seen as giving window to build collateral British government’s unfunded tax plan spooked markets LONDON/NEW YORK, Oct 2 (Reuters) – Calls to the Bank of England saying some British pension funds were struggling to meet margin … Read more

Stampede, riot at Indonesia football match kill 174, league suspended

East Java stadium disaster apparently worst since 1964 Around 180 injured during crowd stampede Indonesia football association suspends league to investigate Police say they fired tear gas to control crowd MALANG, Indonesia, Oct 2 (Reuters) – At least 174 people were killed and 180 injured in a stampede and riot at a soccer match in … Read more

Japan spent record of nearly $20.0 bln on intervention to support the yen

Intervention drains nearly 15% of readily available funds Japan can avoid selling US Treasury bills for now – analysts Impact of further intervention may diminish – analysts TOKYO, Sept 30 (Reuters) – Japan spent up to a record 2.8 trillion yen ($19.7 billion) intervening in the foreign exchange market last week to prop up the … Read more

Wall St posts third straight quarterly loss as inflation weighs, recession looms

S&P 500 notches largest September percentage drop in 20 years All three major US stock indexes post three-quarter slumps Core inflation data hotter than expected Indexes down: Dow 1.71%, S&P 1.51%, Nasdaq 1.51% NEW YORK, Sept 30 (Reuters) – The S&P 500 closed the books on its steepest September decline in two decades on Friday, … Read more

Swiss National Bank ends era of foreign currency purchases

SNB holds foreign currency purchases to curb franc strength Sold 5 million Swiss francs worth of foreign currency in Q2 SNB spent 353 billion francs in 7-1/2 years on forex Policy seen as success by economists ZURICH, Sept 30 (Reuters) – The Swiss National Bank sold 5 million Swiss francs ($5.1 million) worth of foreign … Read more

Barclays hit by $361 million US penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $361 million penalty with US regulators on Thursday for “staggering” failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO CS Venkatakrishnan’s first year in charge. Barclays shares rose 2% in early trading … Read more

EU countries approve energy windfall levies, turn to gas price cap

EU approves energy windfall profit levies Countries eye gas price caps as their next move States split over how to contain sky-high prices BRUSSELS, Sept 30 (Reuters) – European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits, and began talks on their next move to tackle Europe’s energy crunch … Read more