Pension fund panic led to Bank of England’s emergency intervention

The Bank of England on Wednesday launched a historic intervention in the UK bond market in order to shore up financial stability, with markets in disarray following the new government’s fiscal policy announcements. Bloomberg | Bloomberg | Getty Images LONDON – The Bank of England launched a historic intervention to stabilize the UK economyannouncing a … Read more

European stocks fall as Bank of England boost fades; Stoxx 600 down 1.6%

Euro zone economic sentiment continues to deteriorate The European Commission’s economic sentiment indicator, which aggregates business and consumer confidence surveys, fell to 93.7 in September from 97.3 in August, its lowest point since November 2020. Confidence plummeted across economic sectors amid a broad increase in inflation expectations, despite the European Central Bank‘s commitment to interest … Read more

McDonald’s rejects franchise owners’ request to delay big changes, letter says

A customer places an order September 24, 2022 at a McDonald’s Restaurant along the New York State Thruway in Hannacroix, New York. Robert Nickelsberg | Getty Images News | Getty Images A group representing McDonald’s owners said the company rejected its request to delay changes to franchising policies, including updated standards and adjustments to how … Read more

Kindle Scribe, Halo Rise, new Echos, Fire TV

Amazon unveils new smart TV, the Fire TV Omni QLED Series starting at $799.99 Amazon Fire TV Omni Series in QLED Amazon Amazon just announced a new TV: The Amazon Fire TV Omni Series in QLED. Aside from its QLED display, the TV has Dolby Vision IQ and HDR10+ Adaptive for the first time. Support … Read more

LeBron James is a pickleball fan and player. Now he’s buying a team.

LeBron James, the king of basketball courts, is one of the newest owners of a professional pickleball team. Major League Pickleball announced Wednesday that James and his business partner, Maverick Carter, will join its ownership ranks, along with NBA champions Draymond Green and Kevin Love and others. In recent months, the sport’s popularity has attracted … Read more

Ford unveils new F-Series Super Duty trucks

2023 Ford Super Duty F-350 Limited Ford DETROIT – Ford Motor is redesigning a pivotal product lineup, leaning on new software and connected data metrics, to boost profits in its commercial vehicle business. The Detroit automaker on Tuesday revealed its 2023 F-Series Super Duty trucks, a lineup of vehicles ranging from large pickups to commercial … Read more

Stocks fall, Chinese yuan crosses 7.2 against the dollar

US 10-year Treasury yield breaches 4% for the first time since 2010 CNBC Pro: Credit Suisse says now’s the time to buy two green hydrogen stocks — and gives one over 200% upside Credit Suisse says it’s time to enter the green hydrogen sector, with a number of catalysts set to drive the clean energy … Read more

Larry Summers blasts UK’s ‘utterly irresponsible’ fiscal policy

Larry Summers Cameron Costa CNBC LONDON — Former US Treasury Secretary Larry Summers on Tuesday warned that the UK has lost sovereign credibility after the new government’s fiscal policy sent markets into a tailspin. The British pound hit an all-time low against the dollar in the early hours of Monday morning, before recovering slightly on … Read more

Fed rate hikes have made some corporate bonds very attractive. How to profit from it

As stocks sink and interest rates rise, investors are getting more excited about corporate bonds than they’ve been in a generation. One side effect of Federal Reserve tightening policy is that it has made interest rates go up everywhere — including in the corporate bond market. But as pros point out, investors need to be … Read more

What is required to travel to Hong Kong? Many, many tests

Travelers headed to Hong Kong no longer need to quarantine in a hotel upon arrival. But they will have to submit to a barrage of Covid tests. They can go to work, take public transportation and go to supermarkets, but for that first three days, travelers can’t go into “high-risk premises” such as restaurants, bars … Read more