Markets

Tensions flare over the EU’s new irresponsible big spender: Germany – POLITICO

Press play to listen to this article What a difference a decade makes. Ten years ago, when Europe was in the throes of the eurozone crisis, Germany led the drive for austerity. Now the rest of Europe is fuming about Germany’s heavy spending on energy subsidies that they fear could exacerbate the Continent’s politically explosive …

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

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 …

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India plays hardball on UK trade deal as Liz Truss scrambles for a win – POLITICAL

Press play to listen to this article LONDON – India is driving a hard bargain as Britain’s crisis-hit government tries to get a coveted trade deal over the line within weeks. Prime Minister Liz Truss, whose fledgling administration could do with a break amid market turmoil and plunging poll ratings, has ordered her trade chief …

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‘Big Short’ Burry Warns That a Repeat of the 2008 Crisis Is in Sight

Tension has become the new watchword in the markets. For several days, investors appear to be exhausted. They seem ready to panic at the slightest bad news. Everything gives the impression that all it takes is a spark to ignite everything. The reason for this fragility and vulnerability is the fear that the US economy …

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EU backs one emergency energy plan. Now for the next one – POLITICAL

Press play to listen to this article The energy emergency gripping Europe will be a long haul – and next winter could be even worse. Ministers meeting in Brussels on Friday secured a deal on the bloc’s latest package of relief measures. It’s one they hope will help to protect households and businesses from cripplingly …

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Is the UK now a buy? Analysts weigh in after market meltdown

A security guard stands outside the London Stock Exchange building on December 29, 2020. Tolga Akmen | AFP via Getty Images UK bond markets and the pound went into freefall this week as investors balked at the new government’s fiscal policy announcements, and some analysts believe opportunities are arising. The Bank of England on Wednesday …

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Erdogan says Turkey will keep cutting interest rates, mocks British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar / Presidential Press Office / Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will …

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Why a housing crash scares Britain like nothing else – POLITICAL

Press play to listen to this article LONDON – Even in the midst of a full-blown financial crisis, so much of British politics is about home ownership, in the end. Following an extraordinary slide in Sterling and panic in the gilt markets in the wake of Prime Minister Liz Truss’ tax-cutting “mini-budget,” the Bank of …

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European markets open to close, earnings, data and news

Stocks on the move: Thyssenkrupp down 11%, Hikma up 8% Shares of German multinational conglomerate Thyssenkrupp fell 11% by mid-afternoon after JPMorgan reinstated its coverage of the stock with an “underweight” rating. At the top of the European blue chip index, Britain’s Hikma Pharmaceuticals jumped more than 8% by mid-afternoon. – Elliot Smith Sterling slides …

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