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Sterling drops against dollar as Bank of England intervenes in bond market
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Norway beefs up security across oil and gas sector
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UK corporate borrowing costs soar as mini-budget fallout spreads
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Cineplex makes approach for Cineworld’s U.S. franchise, WSJ reports
Analysis-Russia’s Ukraine gas transit sanction threat a fresh blow for Europe
Date: September 28, 2022
By Nina Chestney LONDON (Reuters) – If Moscow carries out a threat to sanction Ukrainian energy firm Naftogaz one of the last functioning Russian gas supply routes to Europe could be shut, exacerbating the energy crisis just as the crucial winter heating season begins. Naftogaz initiated a new arbitration proceeding against Gazprom earlier this month,...
UK gilt prices rocket after Bank of England steps into market
Date: September 28, 2022
By Andy Bruce and William Schomberg LONDON (Reuters) -British government bond prices soared on Wednesday after the Bank of England said it would buy long-dated bonds in an effort to bring calm to the market and shelved plans to sell its stock of gilts for the time being. Finance minister Kwasi Kwarteng set out a...
Pound drops more than 1% as Bank of England steps into bond market
Date: September 28, 2022
By Harry Robertson LONDON (Reuters) -Sterling fell more than 1% against the dollar and euro on Wednesday after the Bank of England said it would step in to calm the UK’s frenzied bond markets. The pound was on track for its biggest monthly fall since October 2008, just after Lehman Brothers collapsed. The Bank said...
UK lenders pull mortgages at record rate as market chaos worsens
Date: September 28, 2022
LONDON (Reuters) – A record 935 mortgage products were pulled in Britain overnight, financial services provider Moneyfacts said on Wednesday, as deepening turmoil in financial markets pushed more lenders to temporarily withdraw products for new customers. The volatility comes after the new UK government announced huge tax cuts funded by borrowing, leading to a plunge...
Bank of England to buy bonds to stabilise market
Date: September 28, 2022
LONDON (Reuters) – The Bank of England said on Wednesday it would start a temporary programme of bond purchases to stabilise the market, and postpone the planned start of its gilt sale programme. The BoE said it was keeping its goal to reduce its 838 billion pounds ($892 billion) of gilt holdings by 80 billion...
French refinery strikes spread as TotalEnergies halts Gonfreville
Date: September 28, 2022
By Forrest Crellin and Rowena Edwards PARIS (Reuters) -TotalEnergies is temporarily halting production at its 240,000 barrel-per-day Gonfreville refinery, the company said on Wednesday, as strike action in the sector threatens supplies at a time of deepening energy instability. The shutdown will add to strained supply of refined products in France, with over 60% of...