Rachel Reeves is set to abandon a planned rise in income tax in her upcoming budget after a tumultuous week inside the Labour Party, with the chancellor reportedly reversing course under mounting pressure from both markets and party infighting.A senior source told the Guardian that the proposal, which would have…
Hedge fund manager Michael Burry, whose prescient bet against the US housing market ahead of the 2008 financial crisis cemented his reputation as one of Wall Street’s sharpest contrarians, has deregistered his firm Scion Asset Management. The move comes just days after regulatory filings revealed his bearish positions against artificial…
Europe’s economic and corporate landscape is shifting under the weight of sluggish growth, regulatory pressure, and rising geopolitical tensions.The UK’s economy is barely expanding, Novo Nordisk faces a rare revolt from its own shareholders, and the Netherlands is heading to Beijing to ease a high-stakes tech dispute.Meanwhile, Brussels has opened…
Political gridlock, corporate shifts, and tech developments shape today’s major stories in the US and beyond.Washington may have reopened after the shutdown, but the partisan divide behind it is still disrupting everything from climate policy to ESG rules.In the tech and business world, Tesla edges closer to long-awaited CarPlay support,…
Verizon Communications is preparing to eliminate roughly 15,000 jobs, which will become the largest round of layoffs in its history, as part of a sweeping cost-cutting effort aimed at improving efficiency and addressing slowing growth in its wireless and home internet businesses, according to a WSJ report.The cuts, which represent…
Professional investors are taking profits as the US stock market extends its record-setting run, leaving retail traders to carry much of the momentum in the ongoing bull market. But even the resilience of retail investors is slowing down, said Bank of America (BofA)According to client-flow data from BofA, hedge funds…
US President Donald Trump signed a funding bill late on Wednesday to officially end the 43-day government shutdown, restoring operations across federal agencies.For investors, though, the reopening hasn’t brought the clarity they hoped for. According to White House officials, unemployment and inflation data for October will not be released at…
India’s ambitious foray into the green hydrogen economy is currently facing significant headwinds, with a recent assessment from a US-based energy think tank highlighting critical impediments to its progress. The core of the problem lies in the disappointingly slow pace of project commissioning.This sluggishness is primarily attributed to a dual challenge:…
Thursday brought a flurry of major developments across politics, business, and technology. A US judge allowed Elon Musk’s antitrust lawsuit against Apple and OpenAI to advance, while President Donald Trump may unveil sweeping tariff reductions and new trade pacts aimed at easing inflation-weary American households. Media giants reportedly began circling…
The UK gilt market suffered a sharp shock on Friday after Chancellor Rachel Reeves abandoned plans to raise income tax in the upcoming November 26 Budget.The dramatic U-turn sparked a bond market rout, with 10-year gilt yields jumping 14 basis points and 30-year yields soaring as much as 14 basis…