BoE Says It’s Watching Markets ‘Very Closely’ After Pound Fall | Business and economic news

The Bank of England has said it would not hesitate to change interest rates and is watching markets “very closely” after the pound plunged to all-time lows and UK bond prices collapsed in response to the financial crisis. plans of the new government. Finance Minister Kwasi Kwarteng sent British pounds and government bonds into freefall … Read more

British pound plunges to new low as tax cuts raise concerns

LONDON — The British pound fell to its all-time low against the US dollar early Monday after Finance Minister Kwasi Kwarteng promised a sweeping package of tax cuts, fueling concerns over the government’s economic policies as the UK slides into recession crawls. The pound fell to $1.0373 before rallying back to $1.0672 during early trading … Read more

Inflation, unrest challenge Bangladesh’s ‘miracle economy’

Dhaka, Bangladesh — Rekha Begum stands in line to try to buy food and is distraught. Like many others in Bangladesh, she struggles to find affordable daily necessities such as rice, lentils and onions. “I went to two other places, but they told me they have no supplies. Then I came here and stood at … Read more

Syrian official says 77 dead so far in sinking migrant boat

ARIDA BORDER CROSSING, Lebanon — At least 77 people were killed when a boat carrying migrants from Lebanon sank off the coast of Syria this week, the health minister said Friday, fearing the death toll could be much higher. The incident was the deadliest to date as an increasing number of Lebanese, Syrians and Palestinians … Read more

Asian equities plunge for third day on fears of economic growth

A woman walks past the currency billboard of a bank in Seoul, South Korea, Friday, Sept. 23, 2022. Asian stocks fell for a third day on Friday after more rate hikes by the Federal Reserve and other central banks to contain ongoing inflation. a possible global recession. (AP Photo/Ahn Young-joon) Ahn Young-joon AP BEIJING Asian … Read more

Bank of England raises interest rates, but avoids more aggressive move

LONDON — Britain’s central bank on Thursday raised its key interest rate by another half a percentage point to its highest level in 14 years, but avoided more aggressive steps to tame inflation taken by the US Federal Reserve and other banks around the world. It is the seventh straight step for the Bank of … Read more

Ukrainian Mariupol Defenders, Putin Ally in Prisoner Swap

Kyiv, Ukraine — Ukraine early Thursday announced a high-profile prisoner swap that was the culmination of months of efforts to free many of the Ukrainian fighters defending a steel factory in Mariupol during a long Russian siege. In exchange, Ukraine gave up an ally of Russian President Vladimir Putin. President Volodymr Zelenskyy said his government … Read more

Steel mill defenders, Putin’s ally exchanged in prisoner swap

Kyiv, Ukraine — Ukraine early Thursday announced a high-profile prisoner swap that was the culmination of months of efforts to free many of the Ukrainian fighters defending a steel factory in Mariupol during a long Russian siege. In exchange, Ukraine gave up an ally of Russian President Vladimir Putin. President Volodymr Zelenskky said his government … Read more

Asian stocks fall ahead of Fed decision on interest rates

People wearing protective masks cycle in front of an electronic stock sign with Japan’s Nikkei 225 index at a securities firm Wednesday, September 21, 2022 in Tokyo. Asian stocks fell largely on Wednesday as investors anticipated a widely anticipated rate hike by the US Federal Reserve in its bid to quell the highest inflation rate … Read more

Johnson leaves Downing Street to offer resignation to Queen

LONDON — Prime Minister Boris Johnson left his Downing Street office for the last time on Tuesday before heading to Scotland to formally tender his resignation so that Liz Truss can succeed him. The British leader, who announced his intention to step down two months ago, is expected to meet Queen Elizabeth II in the … Read more