Oil giant Shell posts highest-ever annual profit of $40 billion
Shell said last month that windfall taxes imposed by the European Union and U.K. following the surge in profits would…
Markets need to ‘re-anchor their thinking’: Bank of England chief economist hints that traders have it wrong
LONDON — The Bank of England remains committed to its “key goal” of bringing down inflation, but hopes markets will…
The crisis is over for the British pound, but analysts see further weakness ahead
Traders in London. DANIEL LEAL-OLIVAS | AFP | Getty Images LONDON — The British pound is on firmer footing since…
Chinese tech giants’ push into U.S., Europe’s markets sets up potential clash with Amazon
TikTok owner ByteDance has launched a women’s fashion website called If Yooou. Pinduoduo launched an e-commerce site in the U.S.…
IDIQ Acquires Countrywide Pre-Paid Legal Services, Inc.
—Acquisition expands IDIQ family of brands and offerings with individual and group pre-paid legal plans — Temecula, California, October 27,…
Singapore’s mortgage costs are rising — but some buyers are shrugging off higher rates
Blocks of condominiums in Singapore. The rising cost of borrowing is unlikely to have a major impact on Singapore’s property…
With UK leader Liz Truss quitting, here are the top contenders to replace her
LONDON — British Prime Minister Liz Truss resigned Thursday, bringing to a close a brief 44-day tenure mired by “mini-budget”…
Elon Musk addresses Twitter takeover, possible recession on Tesla earnings call
Tesla reported third-quarter earnings after the bell, and executives addressed a broad range of questions during the earnings call, including…
Dow closes 400 points lower to end a wild week of trading
Stocks slumped Friday, capping off a volatile week of trading, a day after posting a historic turnaround rally as investors…
British government performs major U-turn on tax cuts. But markets are far from convinced
British Prime Minister Liz Truss attends a news conference in London, Britain, October 14, 2022. Daniel Leal | Reuters LONDON…
Fed officials expect higher rates to stay in place, meeting minutes show
Federal Reserve officials have been surprised at the pace of inflation and indicated at their last meeting that they expect…
UK bond market moves are dramatic — and confusing. And analysts think it could get worse
Getty Images LONDON — U.K. bonds sold off again this week, pushing yields to their highest level since before the…
‘This is serious’: JPMorgan’s Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 months
Dimon said in June that he was preparing the bank for an economic “hurricane” caused by the Federal Reserve and…
UK’s Liz Truss pledges tax-cutting future in landmark speech plagued by protest and political infighting
Prime Minister Liz Truss is seeking to rally MPs around her her tax-cutting policies following political infighting and market turmoil.…
Mortgage mayhem sparks fears of a housing market crash in Britain
U.K. mortgage rates have skyrocketed since Finance Minister Kwasi Kwarteng’s mini-budget on Sept. 23, prompting banks to pull mortgage products…