Newsletter Oct 17, 2022

New UK finance minister faces market verdict after gutting Truss's plans

Britain's new finance minister Jeremy Hunt faces an early test of his attempt to stem the crisis of confidence in Prime Minister Liz Truss on Monday when the bond market delivers its verdict on his weekend overhaul of her economic programme.

Biden knocks Truss economic plan, says not concerned about dollar strength

U.S. President Joe Biden on Saturday criticized British Prime Minister Liz Truss's original economic plan as a mistake and said he was not concerned about the strength of the soaring U.S.

As Truss fights for job, new finance minister says she made mistakes

Britain's new finance minister Jeremy Hunt said on Saturday some taxes would go up and tough spending decisions were needed, saying Prime Minister Liz Truss had made mistakes as she battles to keep her job just over a month into her term.

Asia shares slip, make or break day for UK bonds

Asian share markets slipped on Monday following another drubbing for Wall Street as investors brace for further drastic tightening in global financial conditions, with all the risks of recession that brings.

Tesla says deliveries increased in Q3

While the Q3 results show a return to growth for Tesla deliveries, the total number was at the very bottom end of analyst estimates, which were between 343,000 and 370,000.

Britain's Royal Mail warns of thousands of job cuts as it slides into red

Royal Mail could cut up to 10,000 jobs and warned of more layoffs if planned strikes go ahead, as the former British postal monopoly that is locked in a dispute with its largest union on Friday flagged even deeper losses this year, sending its shares as much as 17% lower.

OPEC+ members line up to endorse output cut after U.S. coercion claim

OPEC+ member states lined up on Sunday to endorse the steep production cut agreed this month after the White House, stepping up a war of words with Saudi Arabia, accused Riyadh of coercing some other nations into supporting the move.

Intense fighting flares in Ukraine's Donetsk region

Intense fighting between Russian and Ukrainian forces was taking place around two towns in the Donetsk region of eastern Ukraine, Bakhmut and Soledar, Ukrainian President Volodymyr Zelenskiy said on Sunday.

Aston Martin showroom hit as UK vows action on climate protests

Members of the group Just Stop Oil also staged a sit-in protest on Park Lane where the sports carmaker's store is located in an exclusive area of the British capital.

Salah downs Man City as Arsenal extend lead in Premier League

Liverpool and City could not be separated in the first half at Anfield but the game caught fire after the break.

Unbeaten Madrid defeat Barcelona in Clasico to top La Liga

Madrid ended the Catalans' seven-game winning streak in the league and added to the still-raw pain of their struggles in Europe, where they are on the verge of Champions League elimination.