Conservative Eurosceptics on Friday turned on Rishi Sunak after a week in which the UK government shelved key post-Brexit policies intended to “take back control” of Britain’s borders and regulations. Sunak invited Britons to view the benefits of Brexit through the bottom of a pint glass, visiting a beer festival to talk about how “freedom”
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A campaign to force “absentee MP” Nadine Dorries to attend parliament or face a by-election this autumn is being spearheaded by the chair of the Commons standards committee. Labour MP Sir Chris Bryant told the Financial Times he wanted to see the restoration of a parliamentary rule from 1801 stating that “no member do presume
Former U.S. President and Republican presidential candidate Donald Trump looks on as he speaks during a campaign rally in Erie, Pennsylvania, July 29, 2023. Lindsay Dedario | Reuters The independent financial monitor for the Trump Organization told a New York judge she identified issues of incompleteness and inconsistency in certain disclosures to lenders and others
© Ed Alcock/Eyevine I live near the old home of — now a museum devoted to — John Keats. His poems are too soulful and nature-smitten for as arid a man as me. But one phrase he invented is ever useful. “Negative capability”. It appears in his letters, not his verse, and means a tolerance for
The Chinese-owned battery maker AESC is set to play a key role in Tata’s UK battery factory, despite the best efforts of the Indian company and ministers not to disclose its involvement. Tata last month pledged to spend £4bn on a UK plant that will provide batteries for Jaguar Land Rover’s electric cars. At the
Global stocks have swept higher since the start of this year, defying almost universal expectations of a decline and stirring fears that complacency has been setting in among investors. This week suggested those fears are well-founded. Growth worries in Europe, monetary policy shifts in Asia, and nerves over rising bond yields and the government’s credit
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The $47 million Curve Finance exploit on July 30 had a domino effect on the DeFi ecosystem, mainly due to the $100 million loan taken out by
The decentralized finance (DeFi) ecosystem has experienced a challenging week after a seismic security incident led to over $61 million being stolen from Curve Finance’s pools, leaving several protocols facing broader contagion risks. This attack exposed vulnerabilities across DeFi projects and sparked efforts to recover stolen funds over the past few days. As the community
The Puerto Rico Oversight Board said settlements in the Puerto Rico Electric Power Authority bankruptcy are near after they sought and received another deadline extension for filing its debt adjustment plans. “While the Oversight Board cannot guaranty further settlement will be attained, it continues to believe the prospects of at least one major settlement is
Municipals were steady Friday, sitting out a U.S. Treasury rally after the jobs report showed the labor market continues to cool. Equities ended the session down. Triple-A yields were largely unchanged across all curves while UST yields fell up to 15 basis points. Muni to UST ratios rose as a result. The two-year muni-to-Treasury ratio
The UK bank that serves more than 14,000 charities has amassed significant paper losses on its bond holdings in the wake of rising interest rates. The unrealised losses echo recent problems at US regional banks including the now defunct Californian lender Silicon Valley Bank. The value of CAF Bank’s bond holdings were £33.4mn lower than
The writer is a financial journalist and author of ‘More: The 10,000-Year Rise of the World Economy’ It is all too easy for investors to get caught up in the short-term news and focus on the latest profit warning, or utterance from the chair of the US Federal Reserve. But those who take the long
Bitcoin (BTC) continues to frustrate traders who have been predicting a breakout on either side but investors should keep a close watch because the longer the time spent inside the range, the stronger is the eventual breakout from it. The July jobs report released on Aug. 4 was a mixed bag, hence it could not
UK lenders have cut the cost of mortgages, offering hope for the housing market in a week when the Bank of England hiked rates to their highest level in 15 years and house prices fell the most since 2009. The BoE raised rates to 5.25 per cent on Thursday, its 14th consecutive increase, and Huw
Not all Southern California homes with water views face the ocean. In the exclusive Bel-Air neighborhood west of downtown Los Angeles, a large reservoir in the Santa Monica Mountains creates a lake-like backdrop that resembles a Mediterranean landscape, a neat trick for an urban enclave less than 20 miles from downtown and Los Angeles International
State and local governments are starting to appropriate billions of dollars flowing in from the offer of settlement made by three major pharmaceutical companies due to the opioid addiction crisis. The often quoted $26 billion figure is tied to an offer to settle unveiled in February 2022 by three large pharmaceutical opioid distributors, McKesson, AmerisourceBergen, Cardinal Health
Following Fitch Ratings downgrading the U.S. sovereign rating to AA-plus from AAA, the rating agency has downgraded certain municipal bonds tied directly to the creditworthiness of the country. Despite this, market participants say the muni market will see little impact. The bonds affected are “pre-refunded bonds whose repayments are wholly dependent on ‘AA+’-rated United States
Last month, a team of South Korean scientists claimed they engineered a superconducting material, dubbed LK-99, that works under ambient temperature and pressure. In layman’s terms, the team allegedly created a material allowing electrical currents to flow without resistance or energy loss. Previously, such types of materials were only thought to have functioned at absolute
Amazon workers sort packages for delivery in New York, July 12, 2022. Michael M. Santiago | Getty Images News | Getty Images Check out the companies making headlines in midday trading. Amazon — The e-commerce giant surged 10% after delivering a massive profit beat and positive guidance. Amazon’s cloud and ad businesses also reported better-than-expected