Biden plans to expand benefits to help end hunger in the US

Biden plans to expand benefits to help end hunger in the US

The Biden administration is laying out its plan to meet an ambitious goal of ending hunger in the United States by 2030, including expanding monthly benefits that help low-income Americans buy food. The administration, in a plan released Tuesday, also sought to increase healthy eating and physical activity so that fewer people are afflicted with [...]

Bank Of England’s Pill Sees ‘Significant’ Policy Move, But Only In November

Bank Of England’s Pill Sees ‘Significant’ Policy Move, But Only In November

The Bank of England is likely to deliver a “significant policy response” to finance minister Kwasi Kwarteng’s huge tax cuts but wants to wait until its next scheduled meeting in November before making its move, BoE Chief Economist Huw Pill said on Tuesday. Kwarteng, following up on new Prime Minister Liz Truss’s promise to sweep [...]

U.S. Core Capital Goods Orders Accelerate In August; Shipments Rise

U.S. Core Capital Goods Orders Accelerate In August; Shipments Rise

New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to spend on equipment despite higher interest rates, which could keep the economy on a moderate growth path. Some of the surge in orders reported by the Commerce Department on Tuesday, however, reflected higher prices. The data suggested [...]

Embattled Emerging Markets Face Fresh Pain From U.S. Rate Hikes

Embattled Emerging Markets Face Fresh Pain From U.S. Rate Hikes

The prospect of U.S. interest rates climbing to levels last seen in the run-up to the global financial crisis has cast a fresh pall over emerging economies that have battled to recover from COVID, grappled with rampant inflation and faced capital flight. Many past emerging market crises were linked to dollar strength and rising U.S. [...]

Exclusive-India’s Inclusion Into Key Govt Bond Index Pushed Back To Next Year – Sources

Exclusive-India’s Inclusion Into Key Govt Bond Index Pushed Back To Next Year – Sources

Indian government bonds will likely only be included in the JPMorgan emerging market global index early next year as New Delhi still needs to address various operational issues, four sources familiar with the matter said. Investors had expected a decision on this could come as early as this month when operators meet to review the [...]

Pound stabilizes but turmoil continues for UK economy

Pound stabilizes but turmoil continues for UK economy

LONDON — The British pound stabilized in Asian trading on Tuesday after plunging to a record low a day earlier, as the Bank of England and the British government tried to soothe markets nervous about a volatile U.K. economy. The instability began to have real-world impacts, with several British mortgage lenders withdrawing deals amid concern [...]

The British pound has taken a tumble. What’s the impact?

The British pound has taken a tumble. What’s the impact?

LONDON — The pound is taking a pounding. The British currency has taken a plunge, sliding against the U.S. dollar to touch an all-time low. It’s a sign of the alarm in financial markets over new Prime Minister Liz Truss’ emergency budget measures unveiled last week aimed at jump-starting the ailing economy. Investors are spooked [...]

Russian Oil Diversion Post-EU Sanctions To Raise Shipping Hurdles

Russian Oil Diversion Post-EU Sanctions To Raise Shipping Hurdles

Oil markets are bracing for the biggest shift in global trade flows ever as nearly 3 million barrels per day of Russian crude oil and products will have to be diverted to markets outside Europe and advanced economies when European Union sanctions take effect in the coming months, Vitol executives said. The European Union will [...]

Italy shifts to the right as voters reward Meloni’s party

Italy shifts to the right as voters reward Meloni’s party

ROME — A party with neo-fascist roots, the Brothers of Italy, won the most votes in Italy’s national elections, looking set to deliver the country’s first far-right-led government since World War II and make its leader, Giorgia Meloni, Italy’s first woman premier, near-final results showed Monday. Italy’s lurch to the far right immediately shifted Europe’s [...]

World economy to slow, ‘paying the price of war’: OECD

World economy to slow, ‘paying the price of war’: OECD

In a bleak report titled “paying the price of war”, the Paris-based organisation noted that the conflict aggravated inflationary pressure when the cost of living was already rising quickly. Covid outbreaks are still having an impact on the global economy while growth has also been affected by rising interest rates as central banks scramble to [...]