Sterling ticked up marginally against the dollar as Britain's economic outlook darkens.
Markets appear to be ignoring the Fed with traders seeing a pause in hikes early next year and rate cuts beginning in the second half of 2023.
Gas prices are rising again, and this might be just the beginning.
What to watch in markets on Friday, October 7, 2022.
(Bloomberg) -- Last week, the Bank of England was confronted with a nightmare scenario it had long feared. A corner of UK financial markets faced a liquidity crunch at a time of soaring inflation and all the BOE could do in response was buy government debt.Most Read from BloombergBiden Says Putin Threats Real, Could Spark Nuclear ‘Armageddon’Kremlin Lets State Media Tell Some Truths About Putin’s Stalling WarMusk's Twitter Takeover Hits Snag Over Debt-Financing IssueNord Stream Leaks Caused by D
OPEC+ announced it’ll slash output by 2 million barrels per day (bpd) on Wednesday (Oct. 5), the biggest cut since the pandemic started in 2020. The White House’s reaction was swift, calling the decision “shortsighted” and accusing the oil cartel of “aligning with Russia.”
Brazilian Treasury official Esteves Colnago has been tapped for a position on the executive board of Petrobras, two sources told Reuters on Thursday, as part of a broad shakeup at the state-run oil company under its new chief executive. It was not immediately clear if Colnago, who served as planning minister under the 2016 to 2018 government of President Michel Temer, would accept the offer, said the sources, who requested anonymity to discuss internal personnel matters. The sources described the move as part of a range of changes that Chief Executive Caio Paes de Andrade is making in the first months of his tenure.
Analysts and executives are seeking to calculate how much crude the South American country can produce after years of infrastructure neglect.
Kremlin suggesting it has it’s eye on more regions of Ukraine that it said it would ‘reclaim’
GettyJust over two weeks since Vladimir Putin’s latest hail mary in his war against Ukraine, things are going so well for the Russian leader that draftees are rioting, his top allies are at each other’s throats over a series of losses, and his defense minister has now been urged by his own team to blow his brains out.“Yes, really, many are saying that… a defense minister who allowed such circumstances to arise could, as an officer, just shoot himself. But, you know, for many the word ‘officer’ i
STORY: Which countries have Russians been fleeing to?Since the 21st September - when President Vladimir Putin announced a partial mobilization,Russians that are either opposed to the war in Ukraine or scared of being drafted to fight in it have been piling across the border.One destination has been Kazakhstan, which shares the world's second-longest land border with Russia, and where Russians can enter without a passport or a visa.People fleeing have arrived in their hundreds of thousands in the last few weeks.However, many are faced with issues when they get there.The cost of housing has soared due to the massive Russian influx and some have been accused by their families back home of betraying their country.Some Kazakhs view the incoming Russians as a potential economic burden and even a security risk, including Kazakh politician Mukhtar Taizhan."To be honest, I am concerned (about the wave of Russian migration) because I do not know who's coming in (to the country) or how they think, because they only started coming over after the so-called partial mobilisation was declared. So they are draft dodgers, to put it bluntly, the ones who took fright at the prospect of being sent to war. We do not know their views, whether or not they support (Russian President Vladimir) Putin.""At the very least, the (immigration) process should be regulated, and as a last resort, there should be controls introduced that would shut the border completely (to Russians)."Kazakh officials estimate that more than 200,000 Russians have entered the country since Putin’s announcement and around 80,000 have registered in Kazakhstan’s national ID system - a prerequisite for getting a job or a bank account. Aidar Buribayev started thinking about leaving immediately after Putin's announcement, but what finally convinced him was seeing Moscow - for centuries a crucible of raw, bustling energy - so subdued and deserted."The final straw was driving through Moscow and suddenly realising there were no traffic jams, and seeing my co-working office almost empty." Russians have also been fleeing to Georgia - where they can also enter without a visa; Turkey, a popular tourist destination for Russians, and many have been heading to Europe.The EU saw a surge in arrivals after Putin's announcement. Some 66,000 Russian citizens entered the bloc, according to data from the bloc's border agency Frontex.On Thursday, two Russians fleeing military service claimed asylum in the U.S. after arriving by boat in Alaska, authorities have said.Russian media has put the number of Russians that have fled the country at 700,000.The Kremlin denied this on Thursday.Putin’s spokesman Dmitry Peskov could give no precise number but said the number was far from what was being claimed.
President Biden's approval rating is still underwater in Florida, and it's hurting Democratic Senate candidate Val Demings, according to Mason-Dixon pollsters.
We would be lucky to get a light recession, warns top economics professor Ken Rogoff.
U.S. stocks finished lower on Thursday as traders reacted to rising unemployment claims and senior Federal Reserve officials saying the central bank is in no position to pause its aggressive interest-rate hikes.
Investors are anticipating that the U.S. will impose additional export controls to protect intellectual property and boost national security.
Royal Mail rushed forward the monthly payment into its pension scheme to help prevent a cash crunch, The Telegraph can reveal, after the mini-Budget sent crucial money markets into a tailspin.
(Bloomberg) -- President Joe Biden has been explicit in vowing to commit US forces in the event of a Chinese attack on Taiwan. The question occupying US and Taiwanese officials is the fate of the island’s flagship semiconductor industry. Most Read from BloombergBiden Says Putin Threats Real, Could Spark Nuclear ‘Armageddon’Kremlin Lets State Media Tell Some Truths About Putin’s Stalling WarMusk's Twitter Takeover Hits Snag Over Debt-Financing IssueNord Stream Leaks Caused by Detonations in Sign
Dropping job vacancies, a dip in rental costs and signs of growing consumer caution may bolster the Federal Reserve's hopes it can still slow the U.S. economy - and inflation - without causing a full-blown recession or dramatic rise in unemployment. U.S. central bank officials remain adamant that inflation is their prime focus, and, even as they site what Atlanta Fed President Raphael Bostic this week called "glimmers of hope," they remain on message about their determination to slow the pace of price hikes, a group mantra that galvanized after policymakers stumbled last year in thinking inflation wouldn't take root. "We are still decidedly in the inflationary woods, not out of them," Bostic said after noting that some recent data had broken in the Fed's favor.
The call comes just weeks after a broad semiconductor task force spelled out other state issues regarding land, among other challenges.
Marijuana investors are getting bummed out on Wednesday, as a stock market rally that roared early in the week begins to falter. As of 12:05 p.m. ET, both Canopy Growth (NASDAQ: CGC) and Aurora Cannabis (NASDAQ: ACB) are down about 5.5%, while Tilray Brands (NASDAQ: TLRY) suffers a smaller loss of 3.5%. Partly, this sell-off is just a function of stock markets in general being down today -- but as it turns out, marijuana stocks may have a problem all their own.