Exclusive: JPMorgan to hire about 2,000 engineers even as economy softens

PLANO, Texas, Sept 30 (Reuters) – JPMorgan Chase & Co plans to hire about 2,000 engineers worldwide through the end of the year despite a worsening economy, its global chief information officer, Lori Beer, said on Wednesday. The biggest US lender added a net more than 5,000 software developers and data scientists last year and … Read more

UK housing market may face perfect storm as mortgage rates rise, house prices drop

New mortgage rates now quoted at 5%-6% Millions of homeowners could be overstretched HSBC sees 7.5% fall in house prices into next year LONDON, Sept 28 (Reuters) – A surge in borrowing costs and a likely slowdown in economic growth threaten to trigger a selloff in Britain’s housing market with consequences for personal wealth and … Read more

Exclusive: Brands blast Twitter for ads next to child pornography accounts

Sept 28 (Reuters) – Some major advertisers including Dyson, Mazda and chemicals company Ecolab have suspended their marketing campaigns or removed their ads from parts of Twitter because their promotions are appearing alongside tweets soliciting child pornography, the companies told Reuters. Ads for at least 30 brands, ranging from Walt Disney Co (DIS.N)Comcast Corp’s (CMCSA.O) … Read more

Door slams on Fed ‘put’ as market pain takes back seat to inflation fight

WASHINGTON, Sept 28 (Reuters) – In the month since Federal Reserve Chair Jerome Powell laid down a hard line on inflation, stocks have suffered double-digit losses, chasms have opened in global currency markets, and yields on the safest US government debt have surged to their highest levels since the dark days of the financial crisis … Read more

IMF and Moody’s censor UK policy that sparked market turmoil

IMF does ‘not recommend’ policies like UK growth plan Moody’s: economic plan is ‘growth negative’ Pound trading down 0.5% to $1.0681 Bond strategists warn market almost untradeable LONDON, Sept 28 (Reuters) – The International Monetary Fund and ratings agency Moody’s ramped up pressure on Britain to reverse a new economic strategy that was roiling financial … Read more

Porsche’s blockbuster IPO is no ‘gamechanger’ for Europe’s battered markets

LONDON, Sept 28 (Reuters) – Porsche’s landmark listing is defying market turmoil giving a welcome boost to a battered pipeline of share sales but the deal is unlikely to open the floodgates, bankers and analysts say, with European listings facing their worst year since 2009 . As market volatility persists amid Europe’s energy crisis and … Read more

Morning Bid: Eye of the storm

Register now for FREE unlimited access to Reuters.com Register A look at the day ahead in US and global markets from Mike Dolan. As Hurricane Ian raged and set its sights on Cuba and Florida, a global financial storm in bond and currency markets calmed moderately – though likely only temporarily. Ian strengthened into a … Read more

Reversing UK confidence crash requires policy U-turn: economists

LONDON, Sept 27 (Reuters) – Rock-bottom investor confidence in Britain will only recover if finance minister Kwasi Kwarteng scraps the economic plan that unleashed such turmoil in financial markets, leading economists, investors and banks warned on Tuesday. The pound touched an all-time low of $1.0327 on Monday and British government bonds sold off at a … Read more

Fed officials stare down market volatility, say inflation remains paramount focus

Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 26 (Reuters) – US Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping US stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. Asked at a Washington Post event whether he felt US investors had … Read more

Sterling sinks to new low as ‘mini budget’ shatters investor faith in UK markets

Pound briefly touched a record low against dollar Gilts continue to collapse LONDON, Sept 26 (Reuters) – The pound plunged to a record low against the dollar early on Monday and British bond prices collapsed as fears mounted over the new government’s fiscal plan, unleashing calls for an emergency Bank of England rate hike to … Read more