Stocks tumble, dollar soars and bonds plunge as recession fears grow

Dow poised to confirm bear market MSCI All-World index hits 2-year low Dollar reaches new two-decade high Sterling and gilts sell off after UK ‘mini-budget’ NEW YORK/LONDON, Sept 23 (Reuters) – US and European stocks tumbled on Friday, the dollar scaled a 22-year high and bonds sold off again as fears grew that a central … Read more

Britain bets all on historic tax cuts and borrowing, investors take fright

Register now for FREE unlimited access to Reuters.com Register Kwarteng 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

Central banks raise rates again as Fed drives global inflation fight

Rates raised from Britain to Indonesia after Fed moved Investors price in bigger hikes from ECB Japan steps in as yen plummets Emerging market currencies under pressure FRANKFURT/WASHINGTON, Sept 22 (Reuters) – Global central banks continued raising interest rates on Thursday, following the US Federal Reserve in a fight against inflation that is sending shockwaves … Read more

Exclusive: US and Taliban make progress on Afghan reserves, but big gaps remain

KABUL/WASHINGTON, July 26 (Reuters) – US and Taliban officials have exchanged proposals for the release of billions of dollars from Afghan central bank reserves held abroad into a trust fund, three sources familiar with the talks said, offering a hint of progress in efforts to ease Afghanistan’s economic crisis. Significant differences between the sides remain, … Read more

Britain kicks off post-Brexit ‘transformation’ of finance

UK seeks to preserve London’s financial standing after Brexit Regulators to focus on competitiveness, not just stability Capital rules for insurers to be relaxed to boost investment Zahawi pauses plan for more government oversight of regulators LONDON, July 19 (Reuters) – British financial regulators will have to promote the global competitiveness of the country’s financial … Read more

Nervous staff and no bankers: Western firms struggle to exit Russia

HELSINKI, July 4 (Reuters) – For foreign companies still working out what to do with their stranded Russian assets, President Vladimir Putin’s seizure of a major oil and gas project is a powerful warning: Move fast or else. Companies have been wrestling with how to exit in ways that limit the financial impact, do not … Read more

Crypto crash threatens North Korea’s stolen funds as it ramps up weapons tests

SEOUL, June 29 (Reuters) – The nosedive in cryptocurrency markets has wiped out millions of dollars in stolen funds by North Korean hackers, four digital investigators say, threatening a key source of funding for the sanctions-stricken country and its weapons programs. North Korea has poured resources into stealing cryptocurrencies in recent years, making it a … Read more

The ‘Big Package’: How Russia was driven to default

European Commission President Ursula von der Leyen arrives for the European Union leaders summit, as EU’s leaders attempt to agree on Russian oil sanctions in response to Russia’s invasion of Ukraine, in Brussels, Belgium May 30, 2022. REUTERS / Johanna Geron // File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, June … Read more

Credit Suisse faces verdict in cocaine-cash trial

The logo of Swiss bank Credit Suisse is seen at its headquarters at the Paradeplatz square in Zurich, Switzerland October 1, 2019. REUTERS / Arnd Wiegmann Register now for FREE unlimited access to Reuters.com Register ZURICH, June 27 (Reuters) – Swiss judges are set to rule on Monday whether Credit Suisse (CSGN.S) failed to prevent … Read more

Russia slides towards default as payment deadline expires

The clock on Spasskaya tower showing the time at noon, is pictured next to Moscow? S Kremlin, and St. Basil? S Cathedral, March 31, 2020. REUTERS / Maxim Shemetov Register now for FREE unlimited access to Reuters.com Register Grace period runs out on $ 100 mln interest payment due May 27 Russia says it has … Read more