UK’s Kwarteng scraps tax cut after market meltdown – POLITICO

UK’s Kwarteng scraps tax cut after market meltdown – POLITICO

Press play to listen to this article UK Chancellor Kwasi Kwarteng has junked his plan to cut taxes for high earners after a backlash from financial markets and Conservative Party colleagues that plunged his country into economic crisis. “We get it, and we have listened,” Kwarteng said as he announced the dramatic U-turn on Twitter … Read more

Tax climbdown will fail to steady pound, warn economists, as FTSE slumps

Tax climbdown will fail to steady pound, warn economists, as FTSE slumps

Ggood morning. Sterling fell 0.19pc to $1.1144 in early trading, however it has rebounded strongly since the Bank of England announced it would buy as much government debt as needed to restore order. The Bank of England was last night liaising with Swiss authorities after an attempt by Credit Suisse to calm nerves instead of … Read more

Credit Suisse CEO Tries to Calm Market Nerves. The Stock Falls.

Credit Suisse CEO Tries to Calm Market Nerves.  The Stock Falls.

Shares of Credit Suisse fell Monday after Chief Executive Ulrich Koerner tried to reassure employees and investors about the health of the second-largest Swiss bank. Credit Suisse (ticker: CS) dropped about 7.5% in Zurich trading, extending the decline of the past month to 26%, and 60% for the past year. American depositary receipts of Credit … Read more

Japan Tankan data, China, South Korea closed, oil

Japan Tankan data, China, South Korea closed, oil

Pedestrians cross a road in front of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Oct. 29, 2020. Kiyoshi Ota | Bloomberg via Getty Images Futures in the Asia-Pacific pointed to a mixed trading day Monday as markets enter the last quarter of the year. The … Read more

Stock futures turn slightly positive after Dow, S&P 500 cap worst month since March 2020

Stock futures turn slightly positive after Dow, S&P 500 cap worst month since March 2020

Traders on the floor of the NYSE, Sept 7, 2022. Source: NYSE Stock futures rose slightly in overnight trading Sunday after Wall Street wrapped up another negative quarter and both the S&P 500 and Dow Jones Industrial Average finished their worst month since March 2020. Futures tied to the Dow Jones Industrial Average gained 100 … Read more

Top Wall Street analysts see Alphabet as a buying opportunity

Top Wall Street analysts see Alphabet as a buying opportunity

The logo of Alphabet Inc’s Google outside the company’s office in Beijing, China, August 8, 2018. Thomas Peter | Reuters With an ugly September in the rear-view mirror, it’s tempting for investors to make impulsive decisions. The three major indexes ended the month with sizeable losses, rocked by spiking bond yields and a Federal Reserve … Read more

The case for cash, short-term bonds

The case for cash, short-term bonds

Ongoing market volatility may signal it’s time to shift investing strategies and put money back in some mundane, yet safer, alternatives as the chaos plays out. Since the financial crisis, investors have taken to a mentality known as “There is No Alternative” or TINA, emphasizing the idea that investors should stay longer-term on bonds and … Read more