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

Ban on gas fracking in England lifted in push for energy independence

Register now for FREE unlimited access to Reuters.com Register Britain pushing to increase domestic energy supply Moratorium has been in place since 2019 More research needed to assess the risk of tremors BGS survey says challenges remain on predicting impact LONDON, Sept 22 (Reuters) – Britain on Thursday formally lifted a moratorium on fracking for … 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

Wildfires rage across Europe as climate alarm sounded

Hundreds flee in Tuscany as fire-hit gas tanks explode Blaze contained near Athens after hundreds evacuated Step up climate fight, UK warned, after hottest day New power use records expected as US braces for heatwave China girds for new heatwave; could last well into August ATHENS / LONDON, July 20 (Reuters) – Emergency services battled … Read more

Ukraine seeks debt freeze as war ravages economy

Police officers look at a bus stop, a mosque and buildings damaged by a Russian military strike, as Russia’s invasion of Ukraine continues, in Kharkiv, Ukraine July 20, 2022. REUTERS / Nacho Doce Register now for FREE unlimited access to Reuters.com Register KYIV / LONDON, July 20 (Reuters) – Ukraine has asked its international creditors, … Read more

Ukraine denounces deadly missile strike as war overshadows G20 meeting

At least 23 killed in Russian attack: Ukrainian officials Russia denies targeting civilians Yellen slams Russian officials at G20 meeting Nations pledge to cooperate on war crimes investigations VINNYTSIA, Ukraine, July 15 (Reuters) – Senior Western officials directly accused their Russian counterparts of war crimes on Friday after Russian missiles struck a Ukrainian city far … Read more

Foreign Secretary Truss enters race to become next British prime minister

Eleven candidates have launched campaigns to be next PM Tax plans define early stage of leadership debate Rules to replace PM Johnson to be announced on Monday LONDON, July 11 (Reuters) – British Foreign Secretary Liz Truss entered the race to replace Boris Johnson as prime minister on Monday, taking the number of candidates in … Read more

Tokyo June heatwave worst since 1875 as power supply creaks under strain

TOKYO, June 28 (Reuters) – Japan baked under scorching temperatures for a fourth successive day on Tuesday, as the capital’s heat broke nearly 150-year-old records for June and authorities warned power supply remained tight enough to raise the spectrum of cuts. The heatwave comes less than two weeks before a national election in which prices, … Read more