Bank of England confirms bond-buying program will end on Friday

Creative Media NewsWednesday, 12 October 2022, 7:000

The pound fell one cent versus the dollar on Tuesday as the governor of the Bank of England announced his intention to end the bond market intervention. The Bank of England has announced that it’s emergency bond-buying program would conclude as scheduled on Friday, despite rumors that it may extend support for pension funds. On...

The electric vehicle market in China is expanding, but will it last?

Creative Media NewsWednesday, 12 October 2022, 3:000

If you wish to comprehend how governments may promote the development of new technology, you need to go no further than Beijing’s taxi fleets. Five years ago, the city announced plans to prohibit the deployment of taxis fueled by fossil fuels. Today, thousands of automobiles are powered by batteries. And drivers of these electric cars...

Smartwatch sees you now: Huawei launches a £400 wrist-inflatable blood pressure monitor.

Creative Media NewsWednesday, 12 October 2022, 0:000

Huawei has introduced a smartwatch that inflates around the wrist to collect accurate blood pressure readings, similar to how a doctor’s office cuff inflates around the arm. The new Huawei Watch D, which is being demonstrated this week at IFA 2022 in Berlin, includes an airbag that progressively inflates around the wrist. Blood pressure is...

Asia chipmaker shares fall after US China restrictions.

Creative Media NewsTuesday, 11 October 2022, 19:000

Following the United States announcement of stringent new restrictions on technology exports to China, shares of key Asian computer chipmakers have declined. The United States has announced that it will prohibit American companies from selling semiconductors used in supercomputers and artificial intelligence to Chinese companies. The guidelines, which were unveiled on Friday, also target foreign...

The Bank of England has taken a new emergency step to calm markets.

Creative Media NewsTuesday, 11 October 2022, 11:000

The Bank of England issued a warning about a “substantial threat” to financial stability as it made a new emergency move to calm markets. It stated that it would purchase additional government bonds to stabilize the price and prevent a sell-off that could put some pension funds at risk of insolvency. It is the third...

Return of Parliament after mini-budget upheaval; Kwarteng to face MPs

Creative Media NewsTuesday, 11 October 2022, 10:000

The Commons will return from the conference season to Treasury questions and a heated debate regarding the reversal of the National Insurance increase. MPs will return to Westminster on Tuesday following a turbulent conference season, and the chancellor will face questions for the first time since the mini-aftermath. budget’s Parliament has been in session for...

A record number of people are not seeking for job owing to illness.

Creative Media NewsTuesday, 11 October 2022, 9:000

The number of persons not seeking employment due to a chronic condition has reached an all-time high, according to the most recent official statistics. The decline in job seekers has contributed to the lowest jobless rate in over half a century. In the three months leading up to August, the unemployment rate fell to 3.5%,...

IFS warns Chancellor must cut £60bn to fund mini-budget.

Creative Media NewsTuesday, 11 October 2022, 8:000

A look forward to the upcoming budget tells Kwasi Kwarteng that he must consider significant cuts to government spending or a massive tax increase if borrowing is to be kept under control. According to a new official analysis, the government’s mini-budget has created such a massive hole in the public finances that the most credible...

Elon Musk wades into tensions between China and Taiwan.

Creative Media NewsTuesday, 11 October 2022, 4:000

Beijing and Taipei have responded to Tesla CEO Elon Musk’s suggestion that Taiwan becomes a special administrative zone of China. In an interview with the Financial Times, the world’s richest man expressed confidence that the two governments could strike a “fairly acceptable” agreement. The Chinese ambassador to the United States lauded Musk, but his Taiwanese...

As Morrisons’ merger of McColl’s nears completion, the competition watchdog is ‘minded to tolerate’ shop sales.

Creative Media NewsTuesday, 11 October 2022, 2:000

The Competition and Markets Authority is investigating the transaction due to worries that it could damage competition. The competition watchdog has moved closer to approving Morrisons’ takeover of McColl’s, one of the largest convenience store chains in Great Britain. The Competition and Markets Authority has stated that it is “inclined to accept” store requests. The...

Bank of England boosts daily bond buying to avoid Friday cliff.

Creative Media NewsMonday, 10 October 2022, 13:000

To date, just £5 billion out of a potential £65 billion has been spent, but the Bank says it will double the amount it can spend daily to £10 billion in the last four days of emergency intervention. As it enters the final days of its emergency bond purchasing plan, the Bank of England has...

Kwasi Kwarteng accelerates his debt plan until October 31

Creative Media NewsMonday, 10 October 2022, 12:000

Kwasi Kwarteng will present his plan to balance the government’s budget on October 31, about a month earlier than originally scheduled. It is anticipated that the financial statement would clarify how the chancellor intends to pay for £43bn in tax cuts and debt reduction initiatives. Concurrently, an independent forecast of the economy’s performance in future...

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