economy

The race to be the next UK prime minister begins as momentum behind Boris Johnson grows

Mordaunt becomes the first to declare his intention to run Candidates must reach the goal of 100 nominations Sunak is the favorite of bookmakers The winner would be the fifth British prime minister in six years. LONDON, Oct 21 (Reuters) – Boris Johnson has been gathering momentum in his audacious bid to return as British …

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Japan inflation hits 8-year high in test of BOJ dovish policy

September core CPI up 3.0% yoy, match forecast Core consumer inflation remains above BOJ target for sixth month The data underscores the expansion of inflationary pressure BOJ sees keeping ultra-low interest rates in fragile economy TOKYO, Oct 21 (Reuters) – Japan’s core consumer inflation rate accelerated to a new eight-year high of 3.0% in September, …

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Jeremy Hunt Statement: New UK Finance Minister Will Fast Track Fiscal Plan

Hunt will file a statement on taxes and spending plans on Monday. Announcement is two weeks ahead of schedule Hunt is rewriting Truss’ economic plans British pound rises in Asian trade Bond prices rise in early London trading LONDON, Oct 17 (Reuters) – Britain’s new Chancellor of the Exchequer Jeremy Hunt is set to set …

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Wall St Falls as Consumer Data Fuels Inflation Concerns

JPM reports higher-than-expected third-quarter earnings S&P 500 and Nasdaq post weekly declines US Consumer Confidence Rises in October; inflation estimates worsen Dow down 1.34%, S&P 500 down 2.37%, Nasdaq down 3.08% NEW YORK, Oct 14 (Reuters) – U.S. stocks fell on Friday as worsening inflation expectations kept intact concerns that the Federal Reserve’s aggressive path …

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As UK’s Truss fights for his job, new finance minister warns of tough decisions

PM Truss fired the finance minister on Friday New Chancellor Hunt Warns of Difficult Decisions The ruling Conservatives have plummeted in the polls Some Conservative lawmakers say Truss will be impeached LONDON, Oct 15 (Reuters) – Britain’s new Chancellor of the Exchequer Jeremy Hunt said on Saturday some taxes would go up and tough spending …

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US Treasury asks major banks if it should buy back bonds

Oct 14 (Reuters) – The US Treasury Department is asking major traders of US Treasuries whether the government should buy back some of their bonds to improve liquidity in the $24 trillion market. Dollars. Liquidity in the world’s largest bond market has deteriorated this year in part due to rising volatility as the Federal Reserve …

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UK cliff edge arrives as Bank of England prepares to end bond buying

The Bank’s Financial Stability Committee announced on September 28 a two-week emergency purchase program for long-term UK government bonds. Mayor Bloomberg | Mayor Bloomberg | fake images LONDON — The Bank of Englandof emergency bond purchase program comes to an end on Friday, and traders remain nervous as the volatility in the UK bond market …

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BlackRock Assets Fall Below $8 Trillion, Earnings Outweigh Strong ETF Demand

Oct 13 (Reuters) – BlackRock Inc. (BLK.N) posted a smaller-than-expected drop in quarterly profit on Thursday as strong demand for exchange-traded funds and other low-risk products cushioned the impact on fee income from a global market slump, but its assets under management fell short of expectations. The threat of a recession, rising interest rates and …

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