Analysis: Under water: how the Bank of England threw markets a lifeline

Bank of England bought bonds after pension fund pleas Some UK pension funds faced problematic margin calls BoE support seen as giving window to build collateral British government’s unfunded tax plan spooked markets LONDON/NEW YORK, Oct 2 (Reuters) – Calls to the Bank of England saying some British pension funds were struggling to meet margin … Read more

UK’s Truss tries to reassure on economic plan

Defends economic plan, saying it is right Also tries to reassure Says Kwarteng made decision on high tax rate BIRMINGHAM, England, Oct 2 (Reuters) – British Prime Minister Liz Truss tried to reassure her party and the public on Sunday by saying she should have done more to “lay the ground” for an economic plan … Read more

Stampede, riot at Indonesia football match kill 174, league suspended

East Java stadium disaster apparently worst since 1964 Around 180 injured during crowd stampede Indonesia football association suspends league to investigate Police say they fired tear gas to control crowd MALANG, Indonesia, Oct 2 (Reuters) – At least 174 people were killed and 180 injured in a stampede and riot at a soccer match in … Read more

Tencent shifts focus to majority deals, overseas gaming assets for growth

HONG KONG, Oct 1 (Reuters) – Tencent is resetting its M&A strategy to put more focus on buying majority stakes mainly in overseas gaming companies, as the tech giant eyes global expansion to offset slowing growth at home in China, people with direct knowledge of the matter said. Tencent Holding Ltd (0700.HK) has for years … Read more

Protesters rally across Iran in third week of unrest over Amini’s death

Protests sparked by death in custody enter 3rd week Reports of student arrests in Tehran, tear gas in Isfahan Four members of security forces confirmed killed in southeast Strikes reported across Kurdish regions DUBAI, Oct 1 (Reuters) – Protesters rallied across Iran and strikes were reported throughout the country’s Kurdish region on Saturday as demonstrations … Read more

We’ve Got To Wait A Bit Longer For Xenoblade Chronicles 3 Collector’s Editions (EU + UK)

Image: Nintendo / Monolith Soft While those in America and Canada are starting to get hold of their Xenoblade Chronicles 3 Collector’s Editions, the UK and Europe will have to wait a bit longer to even pre-order them. Pre-orders were due to open in September, however, customers have started to receive emails confirming that the … Read more

S&P cuts UK rating outlook after tax cut plan

LONDON, Sept 30 (Reuters) – Ratings agency Standard & Poor’s cut the outlook for its AA credit rating for British sovereign debt on Friday to “negative” from “stable” as it judged Prime Minister Liz Truss’s tax cut plans would cause debt to keep rising. Finance minister Kwasi Kwarteng announced around 45 billion pounds ($50 billion) … Read more

Barclays hit by $361 million U.S. penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $361 million penalty with U.S. regulators on Thursday for “staggering” failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO C.S. Venkatakrishnan’s first year in charge. The bank said after London market close … Read more

UK pension funds ask corporates for cash after gilt blow-up -sources

LONDON, Sept 30 (Reuters) – British pension funds with big losses in gilt market derivatives have sought emergency funds from the companies they manage money for as they race to dump assets to raise cash, industry sources said on Friday. Many pension funds were caught out during the surge in bond yields this week that … Read more

Exclusive: Europe braces for mobile network blackouts

PARIS/STOCKHOLM/MILAN, Sept 29 (Reuters) – Once unthinkable, mobile phones could go dark around Europe this winter if power cuts or energy rationing knocks out parts of the mobile networks across the region. Russia’s decision to halt gas supplies via Europe’s key supply route in the wake of the Ukraine conflict has increased the chances of … Read more