DIRS.INFO The most relevant business & tech news

☆ Reactions: Britain's finance minister unveils "mini budget"
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +5 min

Britain's blue-chip stocks (.FTSE)remained mired in the red, in line with a broader equity-market decline. FOREX: Sterling extended losses, falling 1.9% on the day to around $1.1047, having hit a new 37-year low earlier on. British homebuilders and household goods makers hit session highs, buoyed by the prospect of consumers getting tax breaks. The tax-cutting budget and ‘go for broke’ growth aims are unlikely to change the longer-term bearish GBP trend." If you get more fiscal stimulus and less monetary stimulus, that’s something that’s buoyant for the currency.

Finance minister Kwasi Kwarteng's plans will require an extra 72 billion pounds ($79 billion) of government borrowing over the next six months alone, and - a particular concern for investors - cement permanent tax cuts costing 45 billion pounds a year. But to bond investors, they bring the prospect of more persistent inflationary pressures - at a time when inflation is already near a 40-year high - as well as tighter Bank of England (BoE) policy. Government borrowing is likely to total 218 billion pounds this financial year and 229 billion pounds in 2023/24, Citi predicted, and it expects benchmark 10-year British government bond yields to rise to 4.25%. Adding to the pressure, on Thursday the BoE confirmed it planned to reduce its own 838 billion pounds of gilt holdings by 80 billion pounds over the coming year. "That is a strong indication that domestic and overseas investors are losing confidence in the UK's inflation-fighting credibility," he said.

☆ Sen. Rick Scott loves hating on New York and its governor, Andrew Cuomo. But new docs show the Florida Republican investing big time in Big Apple bonds.
▼ + stars: | 2020-10-14 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +5 min

Florida GOP Sen. Rick Scott is a frequent critic of New York Gov. Earlier this year they also disclosed between $1.1 million and $2.25 million worth of New York City Municipal Water Finance Authority bonds. "Cuomo has consistently misused taxpayer dollars and refused to ever cut government waste," Scott in June wrote in a New York Post op-ed. Earlier this year, the Scotts disclosed between $1.1 million and $2.25 million worth of New York City Municipal Water Finance Authority bonds. "Senator and Mrs. Scott have purchased hundreds of municipal bonds over the years from all over the country.

☆ Water's edge: the crisis of rising sea levels
▼ + stars: | 2014-09-04 | by ( Reuters Graphic | ) www.reuters.com time to read: +20 min

But sea levels have been rising for 100 years in Baltimore.”ROCKET SCIENCEThe irony is evident at Wallops Flight Facility. Yet this bastion of climate research has been slow to apply the science of sea level rise to its own operations. Reviewers from state and federal agencies criticized the 348-page document for failing to adequately take rising sea levels into account in the project design and impact, or to temper future plans for expansion. Joshua Bundick, Wallops’s environmental planning manager, explained that he distilled the issues “down to only the highest points,” and sea level rise wasn’t among them. The cost to American taxpayers of repeated destruction of the parking lot and causeway from rising sea levels would only increase, Fish and Wildlife officials said.

Search resuls for: "unfunded"

4 mentions found