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

Eisai, Biogen say Alzheimer’s drug succeeds in slowing cognitive decline

Sept 27 (Reuters) – Eisai Co Ltd (4523.T) and Biogen Inc (BIIB.O) on Tuesday said their experimental Alzheimer’s drug significantly slowed cognitive and functional decline in a large trial of patients in the early stages of the disease, marking a rare win in a field littered with failed drugs. The drug, lecanemab, slowed progress of … Read more

Growth stocks lead bounce on Wall Street after brutal selloff

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. September 26, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com register Major indexes set to snap five-day losing streak Rate-sensitive tech, growth stocks shine Sharp rebound in oil prices boost energy firms Indexes up: Dow … 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

Twitter to interview Elon Musk, known for combative testimony

WILMINGTON, Del., Sept 26 (Reuters) – Billionaire Elon Musk’s tendency to dish out insults while being questioned under oath will be tested anew this week, when lawyers for Twitter Inc (TWTR.N)are expected to interview the Tesla Inc (TSLA .O) CEO about his abrupt decision in July to ditch his $44 billion deal for the social … Read more

Wall Street ends lower, Dow confirms bear market

Register now for FREE unlimited access to Reuters.com register Fed rate hikes have investors ‘throwing in the towel’ Casinos jump as Macau allows tour groups after nearly 3 years Indexes: Dow -1.11%, S&P 500 -1.03%, Nasdaq -0.60% Sept 26 (Reuters) – Wall Street slid deeper into a bear market on Monday, with the S&P 500 … 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

Exclusive: India’s push for home-grown navigation system jolts smartphone giants

India wants local GPS rival in smartphones; Industry fears costs Smartphone players want delay to New Delhi’s Jan. 2023 deadline Samsung, others say Indian system needs hardware changes-sources Boosting native system part of Modi’s self-reliance campaign NEW DELHI, Sept 26 (Reuters) – India is pushing tech giants to make smartphones compatible with its home-grown navigation … 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