Reversing fall in UK confidence requires policy turnaround: economists

Reversing fall in UK confidence requires policy turnaround: economists

LONDON, Sept 27 (Reuters) – Investor confidence in Britain will only recover if Finance Minister Kwasi Kwarteng scraps the economic plan that unleashed such turmoil in financial markets, leading economists, investors and banks warned on Tuesday. The pound touched an all-time low of $1.0327 on Monday and British government bonds sold off at a furious…

As Fed warns of turbulence, markets are buckling their seat belts

As Fed warns of turbulence, markets are buckling their seat belts

WASHINGTON, Aug 15 (Reuters) – The Federal Reserve’s hawkish report on inflation quickly registered on U.S. housing markets this summer as mortgage interest rates shot up and home sales slowed. But that was the only significant and expected adjustment across the economy, which met the US central bank’s most aggressive monetary policy shift in a…

Weekly U.S. jobless claims rise, but labor market remains tight

Weekly U.S. jobless claims rise, but labor market remains tight

Weekly jobless claims rise 6,000 to 260,000 Continuing claims will rise by 48,000 to 1.416 million The trade deficit narrowed by 6.2% to $79.6 billion in June WASHINGTON, Aug 4 (Reuters) – The number of Americans filing new claims for unemployment benefits rose last week, suggesting some softening in the labor market, although overall conditions…

Inflation is starting to strain the finances of young, low-income Americans

Inflation is starting to strain the finances of young, low-income Americans

A shopper wearing a face mask is pictured at a Dollar Tree store in Pasadena, California, U.S., June 11, 2020. REUTERS/Mario Anzuoni Sign up now for FREE unlimited access to Reuters.com Register NEW YORK, Aug 1 (Reuters) – As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are…

Britain begins post-Brexit ‘transformation’ of finance

Britain begins post-Brexit ‘transformation’ of finance

The UK is trying to preserve London’s financial situation after Brexit Regulators to focus on competitiveness, not just on stability Capital rules for insurance companies should be relaxed to encourage investment Zahawi suspends plan for more government oversight of regulators LONDON, July 19 (Reuters) – Britain’s financial regulators will need to support the global competitiveness…