Newsletter Oct 19, 2022

UK crisis forces 'off kilter' businesses to halt investment

British company owners are pulling investments as a crisis triggered in Westminster pushes up borrowing costs and hits confidence in an economy once seen by businesses as a haven of stability.

Who could replace UK's under-fire premier Liz Truss?

Rishi Sunak has entered the picture once more after losing to Truss during their bid to replace Boris Johnson.

Meta accepts UK order to sell Giphy after antitrust battle

Britain's competition regulator has ordered Facebook-owner Meta to sell animated-images platform Giphy on Tuesday after a tribunal upheld its view that the acquisition could damage its rivals and remove a potential competitor in advertising.

UK tells Chinese envoy that peaceful protest must be respected

Britain told China's Charge d'Affaires in London that the right to peaceful protest must be respected, after he was summoned to explain an incident in which a protester was seen being pulled into the grounds of a Chinese consulate and beaten.

Liz Truss says sorry, faces deep spending cuts to balance books

Prime Minister Liz Truss apologised for threatening Britain's economic stability after she was forced to scrap her vast tax-cutting plans and embark on a programme of "eye-watering" public spending cuts instead.

Britain summons China charge d'affaires over protest assault

Britain's foreign office on Tuesday summoned the Chinese charge d'affaires in London over footage of a Hong Kong pro-democracy protester being assaulted in the grounds of a UK consulate.

Germany fires cybersecurity chief after reports of possible Russia ties

Germany's interior ministry fired the country's cybersecurity chief on Tuesday and launched an investigation into his conduct after media allegations that he may have come into contact with Russian security circles through a consultancy he co-founded.

European shares at near two-week high amid UK fiscal plan optimism

European shares rose for the fourth straight session on Tuesday, building on the previous session's rally that was driven by Britain's historic reversal its fiscal plan, with investors keeping a watch on earnings to gauge the economic outlook.

EU countries at odds over how to tackle energy crisis

Croatia and Lithuania want a wholesale gas cap, Slovenia advocates a ceiling on liquefied gas only, while Finland and Slovakia disagree on direct subsidies, the countries said on Tuesday as the European Union grapples with an energy crunch.

EU to propose extra energy measures, avoid immediate gas-price cap

The European Commission is set to propose another set of emergency measures on Tuesday to tackle high energy prices, but draft proposals suggest they will not include an immediate cap on gas prices as EU countries remain split over the idea.

France faces delays as unions call transport strike

France faced disruptions on Tuesday after unions called a nationwide transport strike.

ECB set to warn of risks in its non-binding opinion on Spanish tax proposal, sources say

The European Central Bank is set to warn of the adverse impact on Spanish banks' solvency of a proposed tax on the sector and of a higher cost of credit in an upcoming non-binding opinion, two sources with direct knowledge of the matter said.

Russian 'kamikazee' drones strike Ukranian residential houses, families killed including an expectant mother

The suicide drones can create significant damage and "linger over targets before nosediving into them."

Cryptoverse: Flurry of funds bet on bruised bitcoin's allure

A growing number of funds are betting on the long-term appeal of bitcoin and ether, a gritty gambit in the depths of a crypto winter.

United Airlines sees stronger profit after third-quarter earnings top estimates

United Airlines Holdings on Tuesday forecast a profit for the current quarter well above Wall Street estimates after reporting higher-than-expected third-quarter earnings due to a robust rebound in travel demand.

Netflix subscriber growth beats expectations

Netflix shares shot up more than 14 percent in after hours trading to $275.80 on the earnings news.

Biden to release 15 mln barrels from US oil reserves: official

For Biden there are serious domestic concerns, with gasoline prices at one point averaging more than $5 a gallon, causing nationwide anger.