3 charts that show the UK’s market meltdown

A so-called “mini-budget” by the UK’s new government Friday has sparked a level of market volatility not seen in the country since the Covid crash or the Great Financial Crisis. A package of tax cuts expected to total £45 billion in the coming years, combined with a massive spending increase to help households and businesses … Read more

Sterling hits record low against the dollar, as Asia-Pacific currencies also weaken

Sterling hit a record low. Matt Cardy | Getty Images The British pound plunged to a record low on Monday morning in Asia, following last week’s announcement by the new UK government that it would implement tax cuts and investment incentives to boost growth. The sterling briefly fell 4% to an all-time low of $1.0382 … Read more

New York is now No. 1 port in a tipping point for US-bound trade

The MOL Maneuver container ship sails into port under the Verrazano-Narrows Bridge in the lower bay of the New York Harbor on March 25, 2021 in New York City. Gary Hershorn | Corbis News | Getty Images Historic import and export container processing in the month of August pushed the Port of New York and … Read more

US sending ‘dangerous signals’ on Taiwan, China tells Blinken

Taiwan was the focus of the 90-minute, “direct and honest” talks between Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi on the margins of the UN General Assembly in New York. Stephanie Reynolds | Afp | Getty Images China has accused the United States of sending “very wrong, dangerous signals” on Taiwan … Read more

Semiconductor alliances between the US and Asia could hold back China

Leading chipmaking nations including the US are forming alliances, in part to secure their semiconductor supply chain and to stop China from reaching the cutting-edge of the industry, analysts told CNBC. Places including the United States, South Korea, Japan and Taiwan, which have strong semiconductor industries, have looked to forge partnerships around the critical technology. … Read more

Semiconductor alliances between the US and Asia could hold back China

Leading chipmaking nations including the US are forming alliances, in part to secure their semiconductor supply chain and to stop China from reaching the cutting-edge of the industry, analysts told CNBC. Places including the United States, South Korea, Japan and Taiwan, which have strong semiconductor industries, have looked to forge partnerships around the critical technology. … Read more

Asia’s developing economies are set to grow faster than China’s

Chinese laborers working at a construction site at sunset in Chongqing, China. Getty Images Asia’s developing economies may be showing signs of recovery, but the Asian Development Bank (ADB) cut its growth forecasts for them yet again — thanks to China’s prolonged zero-Covid policy. But this will be the first time in more than three … Read more

Strengthening Hurricane Fiona barrels towards the Turks and Caicos Islands

A flooded street is seen in the Juana Matos neighborhood of Catano, Puerto Rico, on September 19, 2022, after the passage of Hurricane Fiona. Afp | Getty Images A strengthening Hurricane Fiona barreled toward the Turks and Caicos Islands on Tuesday as it threatened to strengthen into a Category 3 storm, prompting the government to … Read more

What to expect at the Bank of Japan (BOJ)’s next meeting as the yen sinks

The Japanese yen is hovering close to its weakest levels since 1998, and authorities have hinted at taking action to stem the currency’s decline. Ahead of the Bank of Japan’s rate decision later this week, CNBC takes a look at whether Japan’s central bank might shift from its ultra-loose monetary policy, as the Federal Reserve … Read more

What to expect at the Bank of Japan (BOJ)’s next meeting as the yen sinks

The Japanese yen is hovering close to its weakest levels since 1998, and authorities have hinted at taking action to stem the currency’s decline. Ahead of the Bank of Japan’s rate decision later this week, CNBC takes a look at whether Japan’s central bank might shift from its ultra-loose monetary policy, as the Federal Reserve … Read more