TOPNWS

Pound jumps after UK tax cut rescinded, oil climbs higher

Pound jumps after UK tax cut rescinded, oil climbs higher

TOKYO, Oct 3 (Reuters) – Oil surged on Monday as OPEC+ considered cutting output at its meeting later this week, while the pound appreciated after the British government announced it would would undo a controversial tax cut that had rocked UK markets. Asian stocks mostly fell over the holidays, although Japanese markets found support from …

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Stampede and riot at football match in Indonesia killing 174, league suspended

Stampede and riot at football match in Indonesia killing 174, league suspended

East Java stadium disaster apparently the worst since 1964 Around 180 injured in stampede Indonesian football association suspends league to investigate Police say they fired tear gas to control the crowd MALANG, Indonesia, Oct 2 (Reuters) – At least 174 people have been killed and 180 injured in a stampede and riot at a soccer …

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Musk shows off Tesla's humanoid robot, but warns it's not ready yet

Musk shows off Tesla’s humanoid robot, but warns it’s not ready yet

SAN FRANCISCO, Sept 30 (Reuters) – Tesla (TSLA.O) CEO Elon Musk showed off a prototype humanoid robot ‘Optimus’ on Friday, predicting the electric vehicle maker would be able to produce millions of them and sell them for less than $20,000. – less than a third of the price of a Y model. “There’s still a …

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Wall St posts third straight quarterly loss as inflation weighs and recession looms

Wall St posts third straight quarterly loss as inflation weighs and recession looms

S&P 500 posts biggest September percentage decline in 20 years All three major U.S. stock indexes post three-quarter declines Core inflation data is warmer than expected Indices down: Dow 1.71%, S&P 1.51%, Nasdaq 1.51% NEW YORK, Sept 30 (Reuters) – The S&P 500 closed its biggest September decline in two decades on Friday, skidding across …

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Barclays fined US$361m for 'appalling' mistake

Barclays fined US$361m for ‘appalling’ mistake

Sep 30 (Reuters) – British lender Barclays (BARC.L) on Thursday agreed to a $361 million fine with U.S. regulators over “staggering” failures that led it to oversell $17.7 billion worth of products structured, racking up additional costs for a mistake that spoiled CEO CS Venkatakrishnan’s first year in charge. Shares of Barclays were up 2% …

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China's factory and services surveys suggest the economy is struggling to rebound

China’s factory and services surveys suggest the economy is struggling to rebound

China’s official September manufacturing PMI above forecast Private survey shows factory activity has contracted sharply Growth in services sector activity slowed in September – official survey COVID curbs, easing foreign demand, weak real estate weigh BEIJING, Sept 30 (Reuters) – China’s manufacturing activity slowed growth in September, but slowing service sector growth and a pessimistic …

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Bank of England moves to calm bond market rout after tax cut storm

Bank of England moves to calm bond market rout after tax cut storm

BoE starts buying bonds, delays gilt sales IMF ‘does not recommend’ policies like UK growth plan Fin min Kwarteng and PM Truss criticized for their politics The British Pound is trading down 0.7% at $1.065 Kwarteng meets bank bosses again LONDON, Sept 28 (Reuters) – The Bank of England sought to quell the firestorm in …

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S&P 500 falls to two-year low, bear market rally dies out

S&P 500 falls to two-year low, bear market rally dies out

Sep 27 (Reuters) – The S&P 500 (.SPX) fell to its lowest level in nearly two years on Tuesday on concerns over the Federal Reserve’s super-aggressive policy tightening, trading below its June low and letting investors gauge how many more shares would need to fall before leveling off. Stocks have been under pressure since late …

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Twitter will interview Elon Musk, known for his combative testimonies

Twitter will interview Elon Musk, known for his combative testimonies

WILMINGTON, Del., Sept 26 (Reuters) – Billionaire Elon Musk’s tendency to slur while being questioned under oath will be tested again this week, when lawyers for Twitter Inc (TWTR.N) are set to interview Tesla Inc ( TSLA .O) CEO on his abrupt decision in July to drop his $44 billion contract for the social media …

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