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.
Financial News
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%.
Postal workers in the UK, striking over pay and working conditions, agree crunch talks with Royal Mail bosses
Leaders of the trade union representing striking postal workers in the U.K. will meet with Royal Mail bosses on Monday for crunch talks.
Sweden says investigation into Russian pipeline leaks strengthens suspicion of ‘gross sabotage’
Sweden’s national security service on Thursday said a crime scene investigation into the Nord Stream gas leaks “strengthened the suspicions of gross sabotage.”
UK’s Liz Truss pledges tax-cutting future in landmark speech plagued by protest and political infighting
British Prime Minister Liz Truss on Wednesday that cutting taxes was “the right thing to do morally and economically,” doubling down on a series of debt-funded economic reforms that have …