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UK home asking prices rise, tax cuts to spur demand: Rightmove
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Factbox: Companies potentially affected by Italy’s election
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Italy’s right-wing parties seen winning power – exit polls
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Long outliers, even euro zone bond curves are inverting fast
Big UK tax cuts deepen selloff, dollar soars and bonds plunge
Date: September 23, 2022
By Amanda Cooper and Tommy Wilkes LONDON (Reuters) – Stocks hit two-year lows on Friday, the dollar scaled a two-decade high and bonds sold off again as investors feared bigger interest rate rises are on their way to tame inflation, while UK assets plunged after huge debt-financed tax cuts were announced. UK assets were already...
Britain’s finance minister unveils “mini budget”, UK markets pummelled
Date: September 23, 2022
LONDON (Reuters) – British finance minister Kwasi Kwarteng on Friday unveiled a broad set of measures aimed at cutting taxes and energy bills for households and businesses to try to drive economic growth that would require a huge increase in borrowing. UK gilt yields surged by the most in a day in well over a...
Rouble surges, stocks fall as Russia holds Ukraine referendums
Date: September 23, 2022
(Reuters) -The Russian rouble surged to new multi-week highs on Friday while stocks fell in volatile trade as Moscow mobilises some 300,000 extra troops for the conflict in Ukraine. Despite President Vladimir Putin’s mobilisation order, the rouble hit its highest level versus the U.S. dollar and euro since July in trading in Moscow. By 1153...
Hungary central bank seen hiking rate by 100 bps to 12.75% – Reuters poll
Date: September 23, 2022
By Gergely Szakacs BUDAPEST (Reuters) – The National Bank of Hungary is likely to raise its base rate by another 100 basis points to 12.75% next Tuesday, a Reuters poll showed, with further hikes seen by the end of the year despite the bank flagging a possible halt to its increases. The median forecast of...
Euro zone likely entering recession as price rises hit demand -PMI
Date: September 23, 2022
By Jonathan Cable LONDON (Reuters) – A downturn in business activity across the euro zone deepened in September, according to a survey which showed the economy was likely entering a recession as consumers rein in spending amid a cost of living crisis. Manufacturers were particularly hard hit by high energy costs after Russia’s invasion of...
UK to scrap banker bonus cap in deregulation drive for growth
Date: September 23, 2022
By Huw Jones and Iain Withers LONDON (Reuters) -Britain will scrap a cap on banker bonuses, its new finance minister said on Friday, pledging an ambitious deregulation of London’s financial industry to boost growth, but sparking fury from critics for helping the rich in an economic downturn. The cap limits bonuses to twice a banker’s...