London CNN — The UK government is facing calls to investigate after an unconfirmed media report claimed former British Prime Minister Liz Truss’ phone was hacked while she was foreign secretary. The UK’s Mail on Sunday newspaper reported that private messages between Truss and international foreign ministers, including messages about the war in Ukraine, as […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — The Federal Reserve is most likely going to raise interest rates by three quarters of a percentage point again on Wednesday, its fourth straight supersized hike. And it’s […]
Hong Kong CNN Business — When Chinese leader Xi Jinping secured a historic third term in power at the weekend and stacked his top team with loyalists in a clean sweep not seen since the Mao era, investors were quick to pass judgment. Chinese stocks listed in Hong Kong and New York crashed on Monday, […]
London CNN Business — Rishi Sunak, Britain’s third prime minister in seven weeks, will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But his other task — shepherding the country through a recession — is poised to be just as daunting. The former finance minister has […]
Hong Kong CNN — Activists and lawmakers in the United Kingdom are demanding an investigation after a Hong Kong pro-democracy protester was allegedly beaten on the grounds of the Chinese consulate in Manchester. A pro-democracy group called Hong Kong Indigenous Defence Force had staged a protest outside the consulate in the northern city on Sunday, […]
CNN — Pakistani officials said Saturday they had summoned the US ambassador to the country following recent comments made by President Joe Biden that doubted the safety of Pakistan’s nuclear arsenal. Speaking at a Democratic Party fundraiser in Los Angeles on Thursday, Biden said Pakistan was “one of the most dangerous nations in the world” […]
London CNN Business — After a bruising three-week battle with bond markets, UK Prime Minister Liz Truss admitted defeat on Friday. She fired her finance minister and gutted her economic program by promising to reinstate a big tax hike on corporations. Truss said she acted in the national interest to ensure economic stability and to […]
London CNN Business — The Bank of England is struggling to contain a crisis triggered by the UK government’s brash plans to borrow heavily to pay for tax cuts, feeding fears that the country’s financial markets could once again spin out of control. Almost 20 days after Finance Minister Kwasi Kwarteng unveiled his much-criticized plan […]
London CNN Business — Former Federal Reserve Chair Ben Bernanke, Douglas Diamond and Philip Dybvig were awarded the Nobel Prize in economics on Monday for their work on banks and financial crises. The three US economists were recognized by the Royal Swedish Academy of Sciences for their work in the early 1980s, which the institute […]
London CNN Business — Pension funds are designed to be dull. Their singular goal — earning enough money to make payouts to retirees — favors cool heads over brash risk takers. But as markets in the United Kingdom went haywire last week, hundreds of British pension fund managers found themselves at the center of a […]