Britain’s tax cut pivot might not be enough to quell market mayhem
The U.K. government’s reversal on scrapping the top rate of income tax is down to political optics and will not reassure market skittishness, analysts told CNBC Monday.
Financial News
‘The Fed is breaking things’ – Here’s what has Wall Street on edge as risks rise around the world
The Fed’s efforts to tame inflation are rippling around the world, with potentially unforeseen consequences for investors.
Facebook scrambles to escape stock’s death spiral as users flee, sales drop
Meta has lost about two-thirds of its value since peaking last year as the business continues to get pummeled on multiple fronts.
Britain’s Liz Truss holds emergency talks with budget watchdog as the pound stabilizes
British Prime Minister Liz Truss and her Finance Minister Kwasi Kwarteng met the U.K.’s independent monetary watchdog for talks on Friday.
Pension fund panic led to Bank of England’s emergency intervention: Here’s what you need to know
The Bank of England on Wednesday launched a historic intervention to stabilize the U.K. economy.
Bank of England intervenes in bond market after historic sell-off
The Bank of England will suspend the planned start of its gilt selling next week and begin temporarily buying long-dated bonds to calm recent market chaos.
UK lenders halt mortgage deals to customers after market chaos
The changing market conditions has led some lenders to change their product offerings.
Pound tanking, massive tax cuts and talk of emergency hikes. Here’s what’s going on in the UK
The first fiscal policy announcement from new British Prime Minister Liz Truss’s government has been met with one of the worst market reactions in modern history.
Italy poised for hard-right leader as country votes in snap election
Italians head to the polls Sunday in a nationwide vote that could return the country’s first female prime minister.
Britain’s sudden lurch to ‘Reaganomics’ gets a thumbs down from the markets
Billed as a “mini-budget” by her Finance Minister Kwasi Kwarteng, Friday’s fiscal announcement was anything but with a volume of tax cuts not seen in Britain since 1972.