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☆ Sterling slips after IMF and Moody's rebuke Britain over tax plans
▼ + stars: | 2022-09-28 | by ( Harry Robertson | ) www.reuters.com time to read: +3 min

LONDON, Sept 28 (Reuters) - Sterling resumed its fall on Wednesday after the International Monetary Fund (IMF) and ratings agency Moody's scolded Britain over its new spending plans. The pound was down 0.56% to $1.068 with renewed dollar strength also weighing on the currency. Sterling tumbled to an all-time low against the dollar of $1.0327 on Monday as investors dumped UK assets after finance minister Kwasi Kwarteng unveiled plans to slash taxes and ramp up borrowing. Ratings agency Moody's said the unfunded tax cuts were "credit negative" and were likely to weigh on growth. UK pound coins plunge into water coloured with the European Union flag colours in this illustration picture, October 26, 2017.

☆ Pound drops more than 1% as Bank of England steps into bond market
▼ + stars: | 2022-09-28 | by ( Harry Robertson | ) www.reuters.com time to read: +3 min

LONDON, Sept 28 (Reuters) - Sterling fell more than 1% against the dollar and euro on Wednesday after the Bank of England said it would step in to calm the UK's frenzied bond markets. The Bank said it will carry out temporary purchases of bonds and postpone the planned start of its gilt sale programme. The Bank's dramatic move came after a morning of disorder in the gilt market. The yield on the 30-year benchmark gilt fell by more than 50 basis points at one point. "Overall we would favour a little more sterling stability on today's intervention, but market conditions remain febrile," Turner said.

☆ Morning Bid: Eye of the storm
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Shannon Stapleton TPX IMAGES OF THE DAYA look at the day ahead in U.S. and global markets from Mike Dolan. As Hurricane Ian raged and set its sights on Cuba and Florida, a global financial storm in bond and currency markets calmed moderately - though likely only temporarily. read moreRegister now for FREE unlimited access to Reuters.com RegisterFor all its potential destruction, Ian doesn't yet appear on the world markets radar. UK debt auctions this week will be watched very closely. But this may be the eye of the storm.

☆ Morning Bid: Unstable cable
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +5 min

Supercharging an already rampant U.S. dollar around the globe, the sterling/dollar rate - nicknamed 'cable' by traders - went into virtual freefall at one point early on Monday. The pound's plunge comes ahead big auctions of both long-term and inflation-linked British government bonds this week and increasing liquidity issues in the gilt markets. read moreThe scale of the pound's losses and fiscal fears has many traders speculating about emergency rate rises by the Bank of England. Rate futures now price in a three-quarters-of-a-point hike to 3% on or before the BoE's next meeting on Nov. 2. read moreChina also acted in a different way on Monday to rein in yuan ongoing slump against the dollar.

☆ Japan won't intervene to defend 145 yen line-in-the-sand, ex-top foreign-exchange diplomat says
▼ + stars: | 2022-09-26 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

REUTERS/Florence Lo/IllustrationTOKYO, Sept 26 (Reuters) - Japan likely won't intervene in the currency market to defend a line-in-the-sand such as 145 yen versus the dollar, and instead limit any further action to smoothing operations aimed at taming volatility, former top currency diplomat Naoyuki Shinohara said. After the dollar's spike to near 146 yen, Japan intervened in the currency market on Thursday to buy yen for the first time since 1998. The dollar slid to near 140 yen shortly after Thursday's intervention, but bounced back above 143 yen by Friday. Tokyo's intervention came shortly after the yen's dive triggered by the BOJ's decision to keep ultra-low rates, and governor Haruhiko Kuroda's post-meeting comments that rates likely won't rise for several more years. The yen's downtrend will be hard to reverse as long as the BOJ maintains ultra-low rates, Shinohara said.

☆ GOP unveils 'Commitment to America' platform, passing off stock footage of Russia and Ukraine as the US and a Lehman Brothers ad as a quote by Lincoln
▼ + stars: | 2022-09-24 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Footage from the video passes off stock images of Ukraine and Russia as the US, HuffPost reported. In a letter to House members, Minority Leader McCarthy also used a quote wrongly attributed to Lincoln, Daily Beast reported. Several images were created by Serg Grbanoff, a filmmaker based in Russia, HuffPost reported, who confirmed to the outlet the images were created in the Volgograd region of his home country. "Interesting how you guys aren't remotely interested on the issues facing the American people in the video," McCarthy spokesman Mark Bednar told HuffPost when asked about the stock footage. "Commitment is what transforms a promise into reality," the letter reads, attributing the quote to the nation's 16th president.

☆ Uniper Deal Is Lehman Moment for European Energy
▼ + stars: | 2022-09-21 | by ( Rochelle Toplensky | ) www.wsj.com time to read: 1 min

Gas giant Uniper is too big to fail, and German government officials are warning of further bailouts. Germany’s nationalization of gas giant Uniper announced Wednesday, lays bare the seismic ructions in the once-sleepy world of European utilities triggered by the new Cold War with Russia. Investing in the sector will change dramatically. Berlin said it would inject €8 billion, equivalent to $7.9 billion, in return for new equity at a nominal value of €1.70 a share. It will also buy Finnish utility company Fortum ’s majority stake in Uniper at the same rate.

☆ Is Twitter ready for the midterms?
▼ + stars: | 2022-08-26 | by ( Clare Duffy | ) edition.cnn.com time to read: +16 min

The disclosure alleges that Twitter is rife with security and privacy vulnerabilities that put users, investors and even US national security at risk, and that Twitter executives have misled its board and regulators about its shortcomings. Members of the US House Committee on Homeland Security on Thursday sent Twitter CEO Parag Agrawal a letter demanding that he address Zatko’s allegations and explain Twitter’s readiness for the 2022 midterms. In 2020, hackers tricked Twitter employees into handing over internal access that allowed them to take over the accounts of prominent figures such as former President Barack Obama and then-Presidential candidate Joe Biden. “Twitter employees were repeatedly found to be intentionally installing spyware on their work computers at the request of external organizations,” the disclosure states. Twitter’s employees use devices overseen by other IT and security teams with the power to prevent a device from connecting to sensitive internal systems if it is running outdated software, Twitter added.

☆ The difference between 'rich' and 'wealthy,' according to New York Times 'Wealth Matters' columnist
▼ + stars: | 2022-07-11 | by ( ) www.cnbc.com time to read: +6 min

When Paul Sullivan was hired to write his "Wealth Matters" column in The New York Times 13 years ago, Americans' relationships with wealth and wealthy people were undergoing a rapid shift. I was told I could create the 'Wealth Matters' column when Lehman Brothers collapsed," he says. Among his biggest takeaways: "I always drew the line between people who are wealthy and people who are rich," he says. 1 money habit of wealthy peopleOver the course of his tenure writing the column, Sullivan talked to nearly 5,000 sources about wealth in America. The article "The Difference Between ‘Rich’ and ‘Wealthy,’ According to New York Times ‘Wealth Matters’ Columnist″ was originally published on Grow (CNBC + Acorns).

☆ 2021: угроза Великой депрессии вместо восстановления
▼ + stars: | 2021-04-08 | by ( Super User | ) mybusiness.md time to read: +7 min

Все разговоры сейчас идут исключительно о неминуемом приближении небывалого экономического кризиса, по сравнению с которым Великая депрессия покажется небольшой стагнацией. В результате с середины 2020 до начала 2021 года в мировую экономику было вброшено 17 триллионов новых, ничем не обеспеченных долларов (в эквиваленте). Это спровоцировало резкий рост стоимости всех сколько-нибудь ценных активов, начиная с золота, нефти и недвижимости и заканчивая криптовалютами. - Дела в реальном секторе экономики США идут не так хорошо, как на биржах. Аргументация большей части таких специалистов строится на том, что монетарные власти за последние несколько лет научились неплохо справляться с кризисами.

Persons: Lehman, mybusiness.md, Джим Роджерс, Джордж Сорос, Гарри Дент, Бинямин Биняминов, Евгений Коган, Андрей Паранич, Татьяна СМИРНОВАдля Organizations: Lehman Brothers, ФРС, Высочайшая школа экономики, Ассоциация специалистов финансового планирования Locations: США

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