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

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

IDB directors unanimously recommend firing of Claver-Carone after ethics probe

Visitors walk past a screen with the logo of Banco Interamericano de Desarrollo (BID) at the Atlapa Convention Center in Panama City March 13, 2013. REUTERS/Carlos Jasso Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 22 (Reuters) – The Inter-American Development Bank’s board of directors voted unanimously on Thursday to recommend firing … Read more