Truss forced to change taxes after week of market turmoil

Truss defended the policy, and markets were concerned about the cost Kwarteng now says it was a distraction A bend made with ‘humility and remorse’ – Kwarteng The reduction in the highest tax rate was a small part of the overall plan Lawmakers have expressed concern about the government’s ruling BIRMINGHAM, England (Reuters) – British … Read more

Analysis: Underwater: How the Bank of England has delivered a lifeblood to the markets

Bank of England bought bonds after pension fund pleas Some UK pension funds have faced problematic margin calls BoE support is seen as giving an opportunity to build collateral The British government’s unfunded tax plan scared the markets LONDON/NEW YORK (Reuters) – Calls from the Bank of England began on Monday saying some British pension … Read more

Exclusive: Europe braces for mobile network outage

PARIS / STOCKHOLM / MILAN (Reuters) – Cell phones would be unimaginable in Europe this winter if blackouts or power rationing disrupted parts of mobile phone networks across the region. Russia’s decision to halt gas supplies through Europe’s main supply route in the wake of the conflict in Ukraine has increased the chances of an … Read more

Gas crisis plunges LNG shipping market into the hands of energy giants

LONDON/SINGAPORE (Reuters) – The skyrocketing price of liquefied natural gas (LNG) shipping has alienated dozens of small traders, concentrating business in the hands of a handful of major global energy companies and major global trading houses. This grip is not expected to ease until 2026 when more LNG begins to emerge and lower prices, raising … Read more

Hurricane Fiona slams the Turks and Caicos Islands as a Category 3 storm and heads for Bermuda

SAN JUAN, Puerto Rico (Reuters) – Hurricane Fiona hit the Turks and Caicos Islands on Tuesday, dumping torrential rain and causing flooding in the Caribbean archipelago after cutting a path of destruction through the Dominican Republic. and Puerto Rico. US officials said the storm killed four people in Puerto Rico. A fifth person was killed … Read more

Charles succession raises Caribbean demands for reparations, removing the king from the head of state

Register now to get free unlimited access to Reuters.com Register KINGSTON/NEW YORK, Sept. 8 (Reuters) – (This Aug. 8 story corrects the number of countries in the Commonwealth in paragraph 4 to 56, not 54) The arrival of King Charles to the British throne sparked renewed calls from politicians and activists for former colonies in … Read more

Stocks drop on Fed rate hike bets, yen hits 24-year low

Register now to get free unlimited access to Reuters.com Register LONDON (Reuters) – European stock markets fell on Wednesday after US economic data prompted traders to increase bets the Federal Reserve would raise interest rates, sending the dollar to a 24-year high against the Japanese yen. US Treasury yields jumped and the dollar got a … Read more