Italian Election Threatens to Shatter Quiet in Its Bond Market
Italy’s yield premium over Germany, a measure of idiosyncratic risk, is still lower than at the beginning of the month. .
Business
Is China Done With Its Market Crackdown? Ash Fosun
(Bloomberg Opinion) — Global investors are wondering these days if Beijing has decided to ease a yearlong regulatory crackdown that has cost them more than $1 trillion in losses. After all, China accounts for about one-third of the emerging markets benchmark index. It’s simply too big to be ignored. With no clear statement of policy … Read more
Biden addresses the Global Citizen Festival Saturday
CNN — President Joe Biden and first lady Jill Biden will address the Global Citizen Festival on Saturday and underscore the administration’s commitment to climate action, according to remarks obtained by CNN. Biden will cite the Democrats’ $369 billion climate package, the largest such investment in US history – one that could have significant implications … Read more
Liz Truss’s Radical Economics May Be A Gift For Labour
The prime minister is following a well-trodden path by breaking with her predecessors. But the tide is already moving in Labour’s direction. .
Leaked Study Shows Exxon, Partners Overspent by $138 Billion
(Bloomberg) — Oil and natural gas projects that Exxon Mobil Corp. invested in between 1998 and 2017 ended up costing $138 billion more than early-stage estimates, potentially due to mismanagement by operators and poor planning, according to an internal analysis seen by Bloomberg. The 2020 study, reviewing 110 projects in which Exxon took a stake … Read more
US Aids Iran Protesters, Eases Curbs On Musk’s Starlink-Like Internet Services
The Treasury Department is easing restrictions around internet communications in Iran as protests continue in the country. .
UK Market Plunge Sparks Talk of Emergency BOE Rate Hike
“The market is giving very strong signals that it is no longer willing to fund the UK’s external deficit position at the current configuration of UK real yields and exchange rate,” Saravelos wrote in a note, adding the view is his own, rather then the view of Deutsche Bank economists. “The policy response required to … Read more
Who Wins Most From Kwarteng’s Tax Bonanza?
Londoners are the big beneficiaries from the decision to double the threshold for paying stamp duty, a tax on homebuying. That’s because house prices in the capital are twice as high as the national average at more than £540,000, according to Land Registry data. Almost half that amount is now tax free, with the relief … Read more
These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market
Another difficult week for US stocks ended with shares of oil producers sliding and Ford Motor Co. tumbling further on concerns over supply shortages. The S&P 500 SPX, -1.72% fell 1.7% on Friday for a one-week decline of 4.6%, as investors continued to fret about the Federal Reserve’s interest-rate increases to temper inflation. Among components … Read more
Judge rejects Justice Dept.’s bid to stop sugar merger
WASHINGTON — A federal judge has rejected the Justice Department’s bid to block a major US sugar manufacturer from acquiring its rival, clearing the way for the acquisition to proceed. The ruling, handed down Friday by a federal judge in Wilmington, Delaware, comes months after the Justice Department sued to try to halt the deal … Read more