UK’s Truss sticks to policy plan as she breaks silence after market rout

Truss says will not change course on UK policy Bond markets calmer after BoE intervention Investors warn of loss of faith in government LONDON, Sept 29 (Reuters) – British Prime Minister Liz Truss said she would stick to her controversial plan to reignite economic growth as she broke her silence on Thursday following nearly a … Read more

Britain’s market rout stokes contagion fears around the globe

NEW YORK/LONDON, Sept 28 (Reuters) – The scale and speed of the sell-off in British assets has jolted world markets, raising concern about contagion as chaos in a major developed economy adds to unease already generated by sharp interest rate rises from the United States and elsewhere. Following Friday’s UK mini-budget, which flagged 45 billion … Read more

Bed, Bath & Beyond investors watching merchandise mix during sales slump

NEW YORK, NY, Sept 28 (Reuters) – Bed Bath & Beyond (BBBY.O) investors will be closely watching the home goods retailer’s second quarter earnings on Thursday for clues as to how customers are responding to its merchandise overhaul. The holiday season will be Bed Bath & Beyond’s “make-or-break moment” to show shoppers that its new … Read more

Sterling slides after BoE buys bonds, dollar hits 20-year high

NEW YORK/LONDON, Sept 28 (Reuters) – Sterling tumbled against the dollar on Wednesday before mating some losses after the Bank of England (BOE) said it would step in to prop up the gilt market, and the dollar index touched a fresh 20 -year high trading was volatile. The BOE said it would buy as many … Read more

UK lenders pull mortgages at record rate as market chaos worsens

LONDON, Sept 28 (Reuters) – A record 935 mortgage products were pulled in Britain overnight, financial services provider Moneyfacts said on Wednesday, as deepening turmoil in financial markets pushed more lenders to temporarily withdraw products for new customers. The volatility comes after the new UK government announced huge tax cuts funded by borrowing, leading to … Read more

Pound drops more than 1% as Bank of England steps into bond market

LONDON, Sept 28 (Reuters) – Sterling fell more than 1% against the dollar and euro on Wednesday after the Bank of England said it would step in to calm the UK’s frenzied bond markets. The pound was on track for its biggest monthly fall since October 2008, just after Lehman Brothers collapsed. The Bank said … Read more

Targetting government, UK’s Labor pledges sound finances and strong public services

Register now for FREE unlimited access to Reuters.com Register LIVERPOOL, England, Sept 26 (Reuters) – Britain’s opposition Labor Party set out its economic vision on Monday, promising, if in power, to be fiscally responsible and take care of public services, in a swipe at the Conservative government’s tax cuts for the wealthy. At their annual … Read more

Wall Street mixed as it digests macro ‘tsunami’

Register now for FREE unlimited access to Reuters.com Register US stocks mixed Sterling hits record low before recovering Euro hits 20yr low, dollar index soars European, Asian shares decline Gold, oil choppy BOSTON/LONDON, Sept 26 (Reuters) – US stocks were mixed, oil prices were choppy, while the dollar and Treasury yields rose on Monday as … Read more

Britain bets all on historic tax cuts and borrowing, investors take fright

Register now for FREE unlimited access to Reuters.com Register Quarter cuts top rate of income tax in dash for growth Huge increase in UK government debt issuance planned Gilts suffer biggest slump in decades Pound falls to new 37-year low against dollar LONDON, Sept 23 (Reuters) – Britain’s new finance minister Kwasi Kwarteng unleashed historic … Read more

Alex Jones lashes out at critics at trial over Sandy Hook hoax claims

Register now for FREE unlimited access to Reuters.com Register Sept 22 (Reuters) – Conspiracy theorist Alex Jones ignited a courtroom shouting match on Thursday, railing against critics as he testified in a trial to determine how much he owes families of victims who died in the 2012 Sandy Hook Elementary School mass shooting, which he … Read more