Bank of England intervenes in bond market after massive sell-off

The central bank said it was monitoring the “significant repricing” of U.K. and global assets in recent days. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England will suspend the planned start of its gilt selling next week and begin temporarily buying long-dated bonds in order to calm the market chaos unleashed … Read more

Results come in from sham referendums in occupied Ukraine; Nord Stream sabotage being investigated

Moscow’s mobilization won’t resolve Russia’s problems in the war, analyst says Russia’s partial military mobilization, which was announced by President Putin last week and sees around 300,00 reservists called-up to fight in Ukraine, will not resolve the country’s challenges in the war, an analyst said Wednesday. “Mobilisation will not solve three big problems for the … Read more

After sham referendums, Russia could annex more of Ukraine by the end of the week; Russian conscripts set off to war

Russian conscripts head off to war in Ukraine while others try to flee the draft Many Russian reservists called up to be sent to Ukraine have been reporting for duty at military bases in Russia before setting off to fight in Ukraine. Reuters footage showed queues at the border with Georgia as men tried to … Read more

U.S. warns of ‘horrific’ consequences if Russia uses nuclear weapons in Ukraine

The Kremlin says it is in sporadic contact with Washington over nuclear issues The St. Basil Cathedral and a Kremlin tower are visible on the Red Square in Moscow. Sopa Images | Lightrocket | Getty Images The Kremlin said it was in “sporadic” contact with Washington on nuclear issues after the two traded threats concerning … Read more

Giorgia Meloni and her far-right Brothers of Italy party top vote in Italian elections, exit poll shows

The political leader of the Brothers Of Italy, Giorgia Meloni. Marco Cantile | Lightrocket | Getty Images Italians are on course to elect the country’s first female prime minister and the first government led by the far-right since the end of World War II. Giorgia Meloni’s Fratelli d’Italia (Brothers of Italy) party are set to … Read more

UK government dishes out extensive tax cuts as country braces for recession

U.K. Chancellor Kwasi Kwarteng outside 10 Downing Street. Britain will cap the cost of electricity and gas for businesses. Rob Pinney | Getty Images News | Getty Images LONDON — The new U.K. government announced a sweeping program of tax cuts and investment incentives Friday, as Prime Minister Liz Truss seeks to boost the country’s … Read more

British pound plunges below $1.11 after new government announces economic reforms

Sterling hit its lowest level since Jul. 1, 2020. Matt Cardy | Getty Images The embattled British pound fell 1.6% Friday against the dollar, after the new U.K. government announced a radical economic plan in a bid to boost growth. Sterling dipped as low as $1.1077 at 11:33 a.m. London time, around an hour after … Read more

Bank of England hikes by 50 basis points, says UK may already be in recession

The Bank of England raised rates by 0.5 percentage points Thursday. Vuk Valcic | SOPA Images | LightRocket | Getty Images LONDON — The Bank of England voted to raise its base rate to 2.25% from 1.75% on Thursday, lower than the 0.75 percentage point increase that had been expected by many traders. Inflation in … Read more

Ukraine welcomes home ‘heroes’ after prisoner swap; Russian mobilization sparks anti-war protests

Finland says traffic arriving at Russia border increased overnight The Finnish Border Guard said traffic at the country’s eastern border with Russia “intensified” overnight, Reuters reported, following President Vladimir Putin’s order to mobilize more troops for the Ukraine war. “The number has clearly picked up,” Matti Pitkaniitty, the Finnish Border Guard’s head of international affairs, … Read more

Zelenskyy demands punishment for Russia’s war in Ukraine, describes grizzly war crimes in stunning U.N. address

President of Ukraine Volodymyr Zelenskyy is pictured during his regular address to the nation, Kyiv, capital of Ukraine. Ukrinform | Future Publishing | Getty Images UNITED NATIONS — Ukrainian President Volodymyr Zelenskyy demanded that global leaders hold Russia accountable for its monthslong assault on his nation. Zelenskyy’s dramatic remarks to world leaders Wednesday afternoon at the … Read more