UK Prime Minister Liz Truss faces serious pressure to resign after failed budget
U.K. Prime Minister Liz Truss is facing calls to resign from within her own Conservative Party just six weeks after entering Downing Street.
Financial News
Xi warns against foreign interference in Taiwan, says China will ‘never promise to renounce’ force
Chinese President Xi Jinping said China reserves the option of “taking all measures necessary” against “interference by outside forces” on the issue of Taiwan.
Jamie Dimon says expect ‘other surprises’ from choppy markets after U.K. pensions nearly imploded
The Federal Reserve’s campaign to tame high inflation here in the U.S. has been felt around the world.
UK PM Liz Truss reverses more tax-cutting plans and names Jeremy Hunt as finance minister
British Finance Minister Kwasi Kwarteng was fired on Friday, amid mounting political pressure and market chaos after less than six weeks in the role.
British pound jumps on reports UK government may reverse parts of its tax-cutting proposals
Sterling jumped against the U.S. dollar on Thursday following reports that the U.K. government is in talks to scrap parts of its unfunded package of tax cuts.
British pound choppy as Bank of England reiterates Friday bond-buying deadline
Sterling recovered slightly after a Financial Times report said the Bank of England has privately signaled a willingness to extend its emergency bond buying.
UK bond market moves are dramatic — and confusing. And analysts think it could get worse
U.K. bonds sold off again on Monday, pushing yields to their highest level since before the Bank of England’s historic intervention to avert a pension fund collapse late last month.
Bank of England strengthens emergency stimulus to help ease market turmoil
The Bank of England on Monday announced further measures to ensure financial stability in the U.K., building on its intervention in the long-dated bond market.
Blast damages only bridge linking Russia and Crimea; Zelenskyy advisor calls it ‘the beginning’
Russian authorities reported on Saturday that a large blaze erupted on the only bridge linking mainland Russia to the occupied Crimean Peninsula.
Unemployment rate falls to 3.5% in September, payrolls rise by 263,000 as job market stays strong
Nonfarm payrolls in September increased 263,000 for the month, compared to the Dow Jones estimate of 275,000. The unemployment rate was 3.5%.