UK’s Truss refuses to rule out welfare cuts to fund economic plan

Pressure builds over future benefit policy Truss, Kwarteng to set out full fiscal plan Trust refuses to rule out limits to welfare payments BIRMINGHAM, England Oct 4 (Reuters) – Britain’s new Prime Minister Liz Truss triggered a fresh row in her party on Tuesday by suggesting that she could limit increases in benefit payments by … Read more

Britain’s tax backdown bounces stocks and sterling

Britain scraps small part of tax plan; markets relieved Reserve Bank of Australia surprises with a small hike High VIX; Credit Suisse stock slide point to nerves beneath SYDNEY, Oct 4 (Reuters) – Asian stocks bounced on Tuesday after Britain scrapped bits of a controversial tax cut plan, tentatively improving global market sentiment and rallying … Read more

UK’s Truss forced into humiliating tax U-turn

Truss had defended the policy on Sunday Kwarteng now says it was a distraction Cut in highest tax rate was small part of overall plan Markets concerned about how plan was to be financed BIRMINGHAM, England, Oct 3 (Reuters) – British Prime Minister Liz Truss was forced on Monday into a humiliating U-turn, reversing plans … Read more

Peace envoy steps in to try to ensure functioning government after Bosnians vote

Bosnia votes amid political crisis International peace overseer imposes changes to election law ‘Crucial for destiny of this country there will be no blockades,’ he says SARAJEVO, Oct 2 (Reuters) – Bosnia’s polls closed on Sunday after voters turned out to choose the country’s new collective presidency and lawmakers at national, regional and local levels, … Read more

UK’s Truss tries to reassure on economic plan

Defends economic plan, saying it is right Also tries to reassure Says Kwarteng made decision on high tax rate BIRMINGHAM, England, Oct 2 (Reuters) – British Prime Minister Liz Truss tried to reassure her party and the public on Sunday by saying she should have done more to “lay the ground” for an economic plan … Read more

Moldova says Russia’s Gazprom cuts gas supplies by 30%

CHISINAU, Oct 1 (Reuters) – Russia’s Gazprom (GAZP.MM) cut natural gas supplies to Moldova on Saturday by around 30%, the director of gas firm Moldovagaz, Vadim Ceban, said. A day earlier, Deputy Prime Minister Andrei Spinu said Gazprom had warned Moldova about the reduction in supplies. read more Spinu said on Saturday that technical problems … Read more

Dozens killed or wounded in Russian missile strike in Ukraine, Kyiv says

At least 25 killed in missile strike – Ukrainian officials Dead were civilians planning to enter Russia-held area Police say attacks involved at least three missiles ZAPORIZHZHIA, Ukraine, Sept 30 (Reuters) – Dozens of civilians were killed or wounded in what Kyiv said was a cynical Russian missile strike on a convoy of civilian cars … Read more

Germany agrees 200 bln euro package to shield against surging energy prices

Includes gas, electricity price brakes, cut in gas sales tax Prices must come down, says Chancellor Scholz Energy prices soaring due to slump in supplies from Russia Financing through borrowing this year BERLIN, Sept 29 (Reuters) – German Chancellor Olaf Scholz set out a 200 billion euro ($194 billion) “defensive shield”, including a gas price … Read more

UK’s Truss sticks to policy plan as she breaks silence after market rout

Truss says will not change course on UK policy Bond markets calmer after BoE intervention Investors warn of loss of faith in government LONDON, Sept 29 (Reuters) – British Prime Minister Liz Truss said she would stick to her controversial plan to reignite economic growth as she broke her silence on Thursday following nearly a … Read more

Sterling, euro rally against dollar after BoE buys UK bonds

NEW YORK/LONDON, Sept 28 (Reuters) – After tumbling earlier, sterling rallied against the dollar on Wednesday following the Bank of England’s (BOE) purchase of UK government bonds, letting some air out of the greenback’s progress broadly after it had touched a fresh 20-year high. The BoE said it received 2.587 billion pounds’ ($2.78 billion) worth … Read more