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Dollar dips as UK budget U-turn improves market sentiment

Inquirer Breaking News - Mon, 10/17/2022 - 22:47
NEW YORK - The dollar dipped against a basket of major currencies and sterling jumped on Monday after Britain's new finance minister ditched most of the government's "mini-budget," sparking a rally in U.K. and U.S. government bonds and reducing demand for the safe-haven U.S. currency. Jeremy Hunt, who was appointed finance minister by Prime Minister Liz Truss on Friday, reversed large swathes of the 45-billion pound "mini-budget" that sparked unprecedented market turmoil in which the pound hit record lows and the Bank of England was forced to intervene. "The pound has been the driver of the FX market this month so far, and the big change the UK government has announced has restored...

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New UK finance minister Hunt scraps tax cuts, reins in energy support

Inquirer Breaking News - Mon, 10/17/2022 - 22:41
LONDON -New finance minister Jeremy Hunt scrapped Prime Minister Liz Truss' economic plan and scaled back her vast energy subsidy on Monday, launching one of the biggest U-turns in British fiscal policy to stem a dramatic loss of investor confidence. Tasked with halting a bond market rout that has raged since the government announced huge unfunded tax cuts on Sept. 23, Hunt has now reversed all of the policies that helped Truss to become elected as prime minister just under six weeks ago. Her spokesman denied that Hunt was now running the country after his new strategy, that will also include spending cuts, sent the pound soaring against the dollar and government bond prices to sta...

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Ballon d'Or success will cap remarkable season for Real Madrid star

CNN Top Stories - Mon, 10/17/2022 - 22:33
It is likely to mark the end of an era.
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Barack Obama says Democrats need to avoid being a 'buzzkill'

CNN Top Stories - Mon, 10/17/2022 - 22:19
Former President Barack Obama thinks Democrats can be a bit of a "buzzkill," too easily offended over accidental slights and the complicated scenarios of modern life, he said in a podcast interview late last week.
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Goldman plans major overhaul, to combine investment banking and trading -WSJ

Inquirer Breaking News - Mon, 10/17/2022 - 22:04
Goldman Sachs is planning a major reorganization as part of which its storied investment banking and trading businesses will be combined, while consumer banking will be absorbed by its wealth unit, the Wall Street Journal reported on Sunday. The move comes as the Wall Street titan under CEO David Solomon has sought to cut a reliance on volatile trading and investment banking revenues by boosting its fee-based businesses and by shifting focus to its consumer banking unit Marcus. The plans, which are expected to be announced within days, will see Goldman restructure its biggest businesses into three divisions, the WSJ reported, citing people familiar with the matter. Undertaking o...

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Paris Saint-Germain star Neymar appears in court over 2013 Barcelona transfer

CNN Top Stories - Mon, 10/17/2022 - 21:36
Brazil and Paris St-Germain forward Neymar Jr. appeared in a Barcelona court on Monday along with eight others, facing fraud and corruption charges over his 2013 transfer from Santos to Barcelona.
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George Floyd's family considering lawsuit against Kanye West after fentanyl claim

CNN Top Stories - Mon, 10/17/2022 - 21:32
Kanye West's latest controversial remarks could land him in a legal battle.
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Rep. Marjorie Taylor Greene says she's a victim of Jan. 6 riot during debate

CNN Top Stories - Mon, 10/17/2022 - 21:32
During a Georgia debate, Rep. Marjorie Taylor Greene responded to opponent Marcus Flowers calling her an "insurrectionist," saying she was a victim of the violent Jan. 6 riot at the Capitol.
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PH wins 11 medals in Asian Pencak Silat Championships in India

Inquirer Breaking News - Mon, 10/17/2022 - 21:31
MANILA, Philippines---Gearing up for the 32nd Southeast Asian Games in Cambodia, Team Philippines bagged 11 medals, including a lone gold, at the end of the 6th Asian Pencak Silat Championships in Srinagar, India. Alfau Jan Abad and Almohaidib Abad ruled the men's double artistic (Seni Ganda Putra) event, auguring well in their bid to step onto the top flight of the medal podium in the coming SEA Games barely seven months from now. Edmar Tacuel, a gold medalist in the men's singles artistic (Seni Tunggal Putra) contest during the 2019 SEA Games, brought home a silver in his pet event. The Abad siblings wound up as silver medalists in the same contest during the 2019 edition ...

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Prosecutors want Bannon to be sentenced to six months

CNN Top Stories - Mon, 10/17/2022 - 21:28
Federal prosecutors want Steve Bannon, a former top adviser to former President Donald Trump, to be sentenced to six months in prison for contempt of Congress, according to a recommendation filed Monday.
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'I didn't know if my career was over': Brooks Koepka reflects on horror injury after bumper LIV Golf win

CNN Top Stories - Mon, 10/17/2022 - 21:25
An emotional Brooks Koepka clinched playoff victory in the final individual event of the LIV Golf Invitational Series in Jeddah, Saudi Arabia on Sunday.
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'She Said' premieres five years after Harvey Weinstein story broke

CNN Top Stories - Mon, 10/17/2022 - 21:16
"She Said," based on the book on the New York Times investigation into Harvey Weinstein's sexual misconduct, made its premiere at the 2022 New York Film Festival on Oct. 13.
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No. 1 Iga Swiatek extends lead in WTA rankings

Inquirer Breaking News - Mon, 10/17/2022 - 21:03
Iga Swiatek increased her overwhelming dominance of the WTA rankings on Monday after her victory in the San Diego Open at the weekend. The Pole beat Croatia's Donna Vekic in Sunday's final despite losing the second set to record her 64th match victory of 2022. Paula Badosa fell four places from fourth to eighth after the Spanish player lost to Danielle Collins in the quarter-finals in San Diego. 1. Iga Swiatek (POL) 10835 pts 2. Ons Jabeur (TUN) 4555 3. Anett Kontaveit (EST) 3796 4. Aryna Sabalenka (BLR) 3515 (+1) 5. Jessica Pegula (USA) 3417 (+1) 6. Maria Sakkari (GRE) 3346 (+1) 7. Cori Gauff (USA) 3082 (+1) 8. Paula Badosa (ESP) 3010 (-4) 9. Simona ...

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Top ranked Iga Swiatek beats Donna Vekic for WTA San Diego title

Inquirer Breaking News - Mon, 10/17/2022 - 20:55
World number one Iga Swiatek captured her 11th career WTA title and her eighth of the year on Sunday by outlasting 77th-ranked Donna Vekic in the San Diego Open final. Three-time Grand Slam champion Swiatek defeated the 26-year-old Croatian 6-3, 3-6, 6-0 for her WTA-best 64th match victory of 2022. "It was a really tight match and pretty long," Swiatek said. "We felt the intensity for sure. At the end I wanted to be the one who played the last ball in." Swiatek took her prior titles this year at the US and French Opens as well as Qatar, Indian Wells, Miami, Stuttgart and Rome. The 21-year-old Polish star bounced back in her ninth championship match of the year after losin...

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Comelec welcomes petition to nullify postponement of Barangay, SK polls

Inquirer Breaking News - Mon, 10/17/2022 - 20:45
  MANILA, Philippines --- The Commission on Elections (Comelec) on Monday welcomed the petition in Supreme Court (SC) to revoke the postponement of the Barangay and Sangguniang Kabataan (BSK) elections this year. In a statement, Comelec spokesperson John Rex Laudiangco said that the poll body "welcomes the filing of the said Petition wherein the Supreme Court will be once again given the opportunity to enrich jurisprudence." According to Laudiangco, this will settle the debate on the legislative and executive branches of government's authority to establish the terms of barangay and SK officials and, in doing so, to postpone and reschedule their elections. "Having sai...

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Video appears to show Iranian 'kamikaze' drone used to attack Ukraine's capital

CNN Top Stories - Mon, 10/17/2022 - 20:43
Russia launched a barrage of "kamikaze" drone attacks in Kyiv, killing at least three people and setting off warning sirens across the Ukrainian capital as commuters headed to work.
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Indian teenager Donnarumma Gukesh becomes the youngest ever player to beat Magnus Carlsen as world champion

CNN Top Stories - Mon, 10/17/2022 - 20:31
Indian teenager Donnarumma Gukesh has become the youngest player ever to defeat Magnus Carlsen since the Norwegian became world champion almost a decade ago.
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With product innovation lagging, Silicon Valley bets on a fresh coat of paint

CNN Top Stories - Mon, 10/17/2022 - 20:30
When Google unveiled its new Pixel 7 smartphone lineup earlier this month, the devices looked largely the same as the year prior. But there was at least one subtle change: the colors.
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California's tomato farmers are getting squeezed by water crisis as growing costs continues to rise

CNN Top Stories - Mon, 10/17/2022 - 20:20
Take a summertime drive on Interstate 5 through the heart of the Golden State and it is nearly impossible to miss the truckloads of tomatoes being hauled straight from harvest to production.
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Sen. Estrada hopes SC favors law postponing barangay, SK polls

Inquirer Breaking News - Mon, 10/17/2022 - 20:05
MANILA, Philippines -- Senator Jinggoy Estrada is hoping that the Supreme Court (SC) would favor the recently passed law which postpones the Barangay and Sangguniang Kabataan elections (BSKE). Estrada made the remark on Monday after lawyer Romulo Macalintal asked the SC to revoke Republic Act No. 11935 or the law delaying the BSKE, originally scheduled for December 5, 2022, to the last Monday of October 2023. READ: SC asked to nullify law postponing 2022 Barangay and SK polls "In a democratic society, everyone has an equal say on any issue, especially on the application of the law. Ang pagsampa ng petisyon sa Korte Suprema ay patunay na nanaig ang demokrasya sa ating bansa. Umaa...

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