Sydney artist Stuart Sale determines future of disfigured Queen Elizabeth mural in Marrickville

When inner-west Sydney street artist Stuart Sale first saw that his mural of the late Queen Elizabeth II was vandalized for a third time, he was gutted. But now the talented business owner has had a change of heart, embracing those who reworked his piece into what it stands for today. On Tuesday, Marrickville locals … Read more

How the United States is exporting inflation to other countries

London CNN Business — The Federal Reserve is laser-focused on stemming price increases in the United States. But countries thousands of thousands away are reeling from its hardball campaign to strangle inflation, as their central banks are forced to hike interest rates faster and higher and a runaway dollar pushes down the value of their … Read more

Challenging ‘orthodoxy,’ Kwarteng clings on after UK market route

Weeks into job, UK finance minister under fire over tax cuts Truss stands by key ally but some question his future Kwarteng fired key official, went without fiscal forecasts LONDON, Sept 29 (Reuters) – As new British finance minister, Kwasi Kwarteng hoped to take down finance ministry groupthink that he and new Prime Minister Liz … Read more

Markets in a tailspin get a big dose of chill from the Bank of England

This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — All the drama out of the UK government is keeping me from catching up on the only UK drama I really want to consume, which is Love Island, season 8, … 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

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

EXCLUSIVE US seeks allies as split emerges over global plastics pollution treaty

WASHINGTON DC, Sept 27 (Reuters) – The United States is seeking to form a coalition of countries to drive negotiations on a global plastic pollution treaty, weeks after a similar group involving several other G7 nations was launched, according to a document seen by Reuters . The move underlines its desire to keep the treaty’s … Read more

Markets are now treating UK bonds like Greek and Italian debt

London CNN Business — The pound may have paused its headlong crash toward parity with the US dollar, but the damage to the UK economy sparked by Prime Minister Liz Truss’ huge tax-cutting gamble is still rippling through financial markets. Sterling stabilized early Tuesday to trade near $1.08, bouncing off Monday’s record low of around … Read more