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UK finance minister Hunt vows to win back financial market trust
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UK finance minister Hunt vows to win back financial market trust

By William James and William Schomberg LONDON (Reuters) -New finance minister Jeremy Hunt promised to win back Britain’s economic credibility by accounting for every penny of the government’s tax and spending plans, while insisting that his boss Prime Minister Liz Truss remains on the overall charge. Truss was appointed Hunt on Friday in an attempt to rescue her leadership as confidence in her ability to run the country drained away within both her own Conservative Party and international financial markets. Investors have sold British government bonds heavily since Sept. 23 when Hunt’s predecessor, Kwasi Kwarteng, announced a string of unfunded…
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UK brings budget forward in another attempt to reassure markets
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UK brings budget forward in another attempt to reassure markets

London CNN Business —UK Finance Minister Kwasi Kwarteng will publish details of his plans to tackle ballooning government debt and kickstart economic growth on October 31, more than three weeks earlier than scheduled, in an attempt to reassure investors and restore the government’s badly damaged credibility.Kwarteng announced the new date in a letter to the Treasury on Monday. He also confirmed that the Office for Budget Responsibility (OBR), the independent fiscal watchdog, will publish its assessment of the government’s midterm budget on the same day.Investors have been pending clarity on a revised date for the budget, which…
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Wall Street Banks Win Key Net-Zero Concession a Month Before COP
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Wall Street Banks Win Key Net-Zero Concession a Month Before COP

(Bloomberg) — The world’s biggest climate-finance alliance has rejected reports that a number of Wall Street banks are threatening to leave, as it races to bring its house in order in the run-up to next month’s COP27 climate summit. Most Read from Bloomberg In a statement to Bloomberg News on Saturday, a spokesperson for the Glasgow Financial Alliance for Net Zero said the group has “received no indication from any of our members that they intend to leave.” GFANZ, which brings together over 500 finance firms managing more than $135 trillion of assets, had faced possible defections from firms including…
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Staying safe on the road in a gig economy – RoSPA Workplace Safety Blog
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Staying safe on the road in a gig economy – RoSPA Workplace Safety Blog

If you’ve ever driven a car or ridden a motorcycle on a short-term contract, chances are you’ve participated in the gig economy. In fact, millions of adults in the UK are now participants in the system as drivers and riders, whether they’re aware of it or not. But how can you and other road users stay safe? What is the gig economy? The term ‘gig economy’ is used to describe the 1.1 million people in the UK who work in a free market system in which temporary positions are common place. The gig economy is made up of three main…
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Wall Street Banks Win Key Net-Zero Concession a Month Before COP
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mental health and wellbeing in the workplace – RoSPA Workplace Safety Blog

More than ever before, mental health is a topic for open discussion in the media, within our social circles and of course at work. Mental health and wellbeing is all about how we think, feel and behave, and is usually caused by a reaction to a difficult life event, which can be caused or made worse by work-related issues. In particular, working in isolation away from managers and colleagues can add stress to a workforce that is already facing a significant amount of pressure. The scale of the problem Globally, an estimated 264 million people suffer from depression, one of…
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Fed again hikes interest rates by 75 basis points in aggressive bid to fight inflation
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Fed again hikes interest rates by 75 basis points in aggressive bid to fight inflation

The US Federal Reserve raised interest rates by 0.75% for the third consecutive time as the central bank continues to try to tame multi-decade highs in inflation. Three 75-basis-point rate hikes in a row is unprecedented since the Fed explicitly started targeting the federal funds rate to conduct monetary policy in the late 1980s. The rate hike brings the central bank’s benchmark interest rate, the federal funds rate, to a new range of 3.0% to 3.25% — its highest level since 2008 — from a current range between 2.25% and 2.5%. Stocks turned negative following the announcement before bouncing back…
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What to Do After You’ve Over-Contributed to Your 401(k)
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What to Do After You’ve Over-Contributed to Your 401(k)

The most common basic personal finance advice anyone gets is this—max out your 401(k) contributions. But what does that mean? How much is the maximum, and what do you do if you exceed it? And yes, you can exceed it—under certain circumstances. Excess contributions, in fact, are double-taxed (in the contribution year and again when its withdrawn).Below we consider how an over-contribution to your 401(k) can happen, and what the repercussions are.Key TakeawaysThe most common basic personal finance advice anyone gets is this: max out your 401(k) contributions. Under certain circumstances, you can exceed this amount. For…
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India Seeks to Separate Lenders to Ease Clean Energy Financing
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India Seeks to Separate Lenders to Ease Clean Energy Financing

(Bloomberg) — India may unwind a four-year-old decision to combine two state-run lenders as it seeks to sidestep local rules that restrict them from funding power projects in one of the world’s fastest-growing energy markets. The government is discussing a plan for state-run Power Finance Corp. to sell its controlling stake in REC Ltd. to transmission utility Power Grid Corp., which is flush with cash, Raj Kumar Singh, the nation’s power minister, said in an interview in New Delhi. Power Finance and REC will enjoy their different exposure limits as separate companies, potentially resulting in greater project funding, he said.…
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