Newsletter Oct 14, 2022

IMF chief to UK officials: Keep calm and get coherent

International Monetary Fund Managing Director Kristalina Georgieva on Thursday rebuked the British government over its planned tax cuts, telling its finance minister and central bank chief that their policies should not be contradictory.

Weak pound is major draw at London's Frieze art fair

The prestigious fair opened Wednesday at full power after a difficult couple of years, experts on the sector said.

Ukrainian recruits learn to survive and be 'lethal' from British Army

The first group of such volunteer recruits arrived in July and more than 5,700 have already taken the course.

Oil prices slipped in early Asian trade on Friday as U.S.

Keeping prices from falling farther was a steep drawdown in distillate stocks that came as heating oil demand is expected to rise as winter approaches.

UK bond market pressure eases a bit as end of BoE buying nears

Longer-duration British gilt yields fell on Thursday, easing back from 20-year highs struck on Wednesday before the Bank of England bought 4.4 billion pounds ($4.88 billion) of debt at its daily reverse auctions - which are due to end on Friday.

British PM faces fresh political woes after meeting with MPs

Embattled British Prime Minister Liz Truss faced fresh woes on Thursday after a prominent Conservative party insider said some of her own MPs were considering pushing for two of her former rivals to replace her.

Euro zone bond yields back off multi-year highs ahead of U.S. data

Euro zone borrowing costs fell on Thursday as investors paused for breath ahead of key U.S. economic data after driving government bond yields to fresh multi-year highs.

UK's Kwarteng refuses to rule out tax U-turn as pressure grows on Truss

British finance minister Kwasi Kwarteng refused to say on Thursday if he would stick with his plan not to raise business taxes as media reported Prime Minister Liz Truss was rethinking an economic programme that plunged markets into turmoil.

European airlines see travel withstanding consumer squeeze for now

British Airways-owner IAG, Europe's biggest airline Ryanair and rival easyJet said demand for travel was holding up, calming worries that pressure on household budgets could stall aviation's recovery from the pandemic.

Germany's Lindner: Ukraine can rely on G7 finance support in times of war

Leaders from the Group of Seven (G7) rich nations have assured Ukrainian officials that they will continue to provide financial support for Ukraine as it battles invading Russian forces, Germany's finance minister said on Thursday.

N.Korea fires missile, flies warplanes near border as South imposes sanctions

North Korea fired a short-range ballistic missile into the sea off its east coast on Friday, South Korea's military said, the latest in a series of launches by the nuclear-armed country amid heightened tensions.

Long COVID at 12 months persists at 18 months, study shows

Most patients with COVID-19 who have lingering symptoms at 12 months are likely to still have symptoms at 18 months, new data suggest.

Netflix to debut subscription with ads

The ad-discounted tier, a first for Netflix, will roll out in Australia, Brazil, Britain, Canada, France, Germany, Italy, Japan, South Korea, Mexico, Spain and the United States.