Florida’s Shaky Insurance Market May Not Be Able to Handle Hurricane Ian

In this aerial view, vehicles make their way through a flooded area after Hurricane Ian passed through on September 29, 2022 in Fort Myers, Florida. Photo: Joe Raedle (Getty Images) Hurricane Ian has left much of southwest Florida a disaster zone, and the storm is on track to mess with one of the most volatile … Read more

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

Nearly 70% of Americans are looking for extra work to combat inflation

A few months ago, Mike Petree noticed an alarming pattern: His bank account would get uncomfortably low on the weekends before he’d get his paycheck, paid biweekly on Wednesdays. Despite no changes to their daily habits, bills for him and his family of five skyrocketed: a $120 weekly grocery bill ballooned to $200, and a … 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

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

BoE says monitoring markets ‘very closely’ after pound plunges | Business and Economy News

The Bank of England has said it would not hesitate to change interest rates and that it is monitoring markets “very closely” after the pound plunged to a record low and British bond prices collapsed in response to the new government’s financial plans. The finance minister, Kwasi Kwarteng, sent sterling and government bonds into free … Read more

What pumpkin spice lattes can teach us about economics

Mphillips007 | E+ | Getty Images The pumpkin spice latte is back — and the popular and meme-ified seasonal drink can teach us a lot about consumer behavior and economics. Starbucks debuted the pumpkin spice latte in 2003and the “PSL” grew to be the company’s most popular seasonal drink, selling more than 600 million since … Read more

Alphabet CEO Pichai Continues to Sound Alarm About the Economy

Alphabet (GOOGLE) the parent company of Google, wants to avoid unpleasant surprises. The firm is convinced that a sharp slowdown in growth will have an impact on advertising revenues, its main source of income. For a few months now, the group has therefore been trying to prepare for a dark scenario as the Federal Reserve … Read more

UK government dishes out tax cuts as country braces for recession

UK 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 UK 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

Fed rate hikes pose a threat of ‘breaking’ currency markets

A man exchanges US dollar bills at an exchange office. Muhammed Semih Ugurlu | Anadolu Agency | Getty Images As the dollar hits 20-year highs against a wide number of key foreign currencies, the historic specter of foreign exchange market crises looms large. While now largely forgotten by all but those of us who covered … Read more