Latest news on Russia, Ukraine and the war

Zelenskyy and army chief praise military’s bravery on Armed Forces Day Ukraine’s President Volodymyr Zelenskyy praised and congratulated the country’s military on Armed Forces Day in the country. “Our Armed Forces protect their native land, and this gives the strongest possible motivation. They fight for freedom, and this always increases any strength. They defend the … Read more

European markets, stocks, data, news and earnings

Stocks on the move: SBB up 13%, Rational down 8% Swedish real estate company SBB saw its shares rise 13% by late afternoon, making gains on its earlier increases, after presenting its pro forma earning capacity for 2023 following the divestment of shares of education unit EduCo. At the bottom of the index, German kitchen … Read more

European markets close mixed awaiting changes in China’s Covid policy

UK gilt market ‘not back to normal’, BOE governor says The UK gilt market is “not back to normal” after the Bank of England intervened on Sep. 28, according to Governor Andrew Bailey, who spoke in front of a lawmakers’ committee Tuesday. The governor said the bank didn’t want to buy index-linked gilts, but “had … Read more

Ukraine’s Zelenskyy urges European unity; Russian reservists suffer heavy losses

‘We share your pain’: Putin meets with mothers of Russian soldiers President Vladimir Putin met on Friday with the mothers of Russian soldiers fighting in Ukraine, telling them that he and his country shared their pain. Sitting with the group of women around a table with tea and cake, Putin said he understood that nothing … Read more

geopolitical tensions rise after Poland missile hit

Inflation has ‘probably’ peaked, fund manager says After US wholesale and consumer inflation came in softer than expected over the past week, we may have seen price increases peak, according to Dan Avigad, partner and portfolio manager at Lansdowne Partners. “Inflation has peaked, probably, and is going to most likely start to come down. I … Read more

Bank of England raises rate by 75 basis points, biggest hike in 33 years

A passageway near the Bank of England (BOE) in the City of London, UK, on ​​Thursday, March 18, 2021. Hollie Adams | Bloomberg | Getty Images LONDON — The Bank of England on Thursday raised interest rates by 75 basis points, its largest single hike since 1989, but struck a dovish tone as policymakers looked … Read more

European markets higher, recession risks, data, earnings

Failed tax cut attempt will cause long-term damage to UK credibility, think tank says The UK government’s attempt to introduce a swath of tax cuts, which it today almost fully backtracked on after sparking chaos in markets, has caused long-term damage to the economy, according to a leading think tank. “The markets were extremely unhappy … Read more

UK’s new finance minister scraps almost all planned tax cuts in a bid to appease markets

Jeremy Hunt is interviewed for Sophie Raworth’s ‘Sunday Morning’ at BBC Broadcasting House in London. Tejas Sandhu | Lightrocket | Getty Images LONDON — UK Finance Minister Jeremy Hunt used his first Monday on the job to announce that almost all of the controversial tax measures announced by his predecessor would be reversed. The major … Read more

UK’s new finance minister scraps almost all planned tax cuts in a bid to appease markets

Jeremy Hunt is interviewed for Sophie Raworth’s ‘Sunday Morning’ at BBC Broadcasting House in London. Tejas Sandhu | Lightrocket | Getty Images LONDON — UK Finance Minister Jeremy Hunt used his first Monday on the job to announce that almost all of the controversial tax measures announced by his predecessor would be reversed. The major … Read more

UK’s Liz Truss pledges tax-cutting future in speech plagued by protest

Prime Minister Liz Truss is seeking to rally MPs around her tax-cutting policies following political infighting and market turmoil. Jacob King | Wall Images | Getty Images LONDON — British Prime Minister Liz Truss insisted Wednesday that cutting taxes was “the right thing to do morally and economically,” doubling down on a series of debt-funded … Read more