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UK Prime Minister Liz Truss apologizes for mini-budget 'mistakes'

CNN Top Stories - Tue, 10/18/2022 - 10:16
• New UK finance minister reverses mini-budget in huge blow to PM's authority
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Dollar tests 32-year peak to yen; Aussie, kiwi rise on rate bets

Inquirer Breaking News - Tue, 10/18/2022 - 10:15
TOKYO - The dollar hovered near a 32-year peak above 149 yen on Tuesday even as it took a breather from a rally against other major peers, with traders bracing for possible further intervention by Tokyo to support its currency. The Aussie strengthened after minutes from the Reserve Bank of Australia's last meeting showed the decision to slow the pace of rate hikes to a quarter point instead of delivering another half point increase was "finely balanced." The New Zealand dollar surged after a hotter-than-expected consumer price report boosted expectations for further policy tightening. The U.S. currency bought 148.855 yen after pushing to 149.10 late in the overnight session for ...

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Indonesia murder trial puts spotlight on alleged police impunity

CNN Top Stories - Tue, 10/18/2022 - 10:13
The trial of a former Indonesian police general accused of orchestrating the murder of his bodyguard started at a Jakarta court on Monday, in a case that has put a spotlight on alleged impunity and corruption in the country's police force.
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Bank Indonesia playing catch-up, to deliver another 50 bps rate hike on Thursday: Reuters poll

Inquirer Breaking News - Tue, 10/18/2022 - 10:07
BENGALURU - Bank Indonesia (BI) will deliver a second successive half-point interest rate hike on Thursday in an attempt to catch up with its peers and curb inflation stemming partly from a weaker rupiah, a Reuters poll found. Relatively lower inflation allowed the central bank to hold off with raising rates until August. But in September, inflation reached 5.95 percent, the highest since 2015, and will likely push the central bank to continue tightening. BI, until recently one of the world's last dovish central banks, followed a modest quarter-point rate rise in this cycle with a surprisingly aggressive 50 basis point rise in September. Nearly 60 percent of respondents, 17 of 3...

Keep on reading: Bank Indonesia playing catch-up, to deliver another 50 bps rate hike on Thursday: Reuters poll
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NDRRMC: 103,662 individuals affected by Typhoon Neneng

Inquirer Breaking News - Tue, 10/18/2022 - 10:00
MANILA, Philippines -- Typhoon Neneng (international name: Nesat) has affected 103,662 individuals, according to the latest report from the National Disaster Risk Reduction and Management Council (NDRRMC) on Tuesday. The NDRRMC said that there are also 4,459 persons displaced by Neneng, with 1,865 still inside evacuation centers. Only two people have been reported injured, with no deaths recorded by the agency. All of these affected individuals are from the Ilocos Region, Cagayan Valley and Cordillera Administrative Region (CAR), said the NDRRMC. Damages to infrastructure and agriculture In terms of damage to infrastructure, the NDRRMC estimated that the cost reaches P81,...

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Australia floods crisis set to worsen amid forecast for more rain

Inquirer Breaking News - Tue, 10/18/2022 - 09:47
SYDNEY ---Thousands of residents across southeast Australia braced for renewed flooding on Tuesday as weather forecasters warned of more downpours later this week, while swollen rivers continued to roll downstream inundating farms, towns and homes. Australia's longest river, the Murray, which straddles the border between the two most populous states of New South Wales and Victoria, could hit a near 30-year high on Friday around the border towns of Echuca and Moama, home to more than 20,000, the Bureau of Meteorology said in its latest update. In Moama, about 200km (120 miles) north of Melbourne, emergency crews ramped up the delivery of sandbags and set up rescue centers to hel...

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Two men wounded in ‘surprise’ bear attack while hunting in Wyoming

Inquirer Breaking News - Tue, 10/18/2022 - 09:28
Two men hunting in Wyoming were attacked and wounded in a "sudden, surprise" attack by a grizzly bear over the weekend, state game officials said on Monday. Both men were transported to local hospitals, one of them by helicopter, following the Saturday afternoon encounter, the Wyoming Game and Fish Department said in a written statement. There was no further word on their condition. "Based on the initial information, this appears to be a sudden, surprise encounter with a grizzly bear," the department said. The men were hunting and recreating in the Shoshone National Forest, south of Cody, when the bear pounced on them in heavy cover, according to the department. Landowner...

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Australia reverses recognition of west Jerusalem as Israel’s capital

Inquirer Breaking News - Tue, 10/18/2022 - 09:13
  SYDNEY --- Australia on Tuesday reversed the previous government's recognition of west Jerusalem as the capital of Israel and said the issue should be resolved as part of peace talks between Israel and Palestine. "Australia is committed to a two-state solution in which Israel and a future Palestinian state coexist, in peace and security, within internationally recognized borders," Foreign Minister Penny Wong said during a media briefing. "We will not support an approach that undermines this prospect." In 2018, the conservative coalition government led by Scott Morrison formally recognized west Jerusalem as Israel's capital, reversing decades of Middle East policy. ...

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Haberman reacts to report that refutes Trump's claims about Secret Service expenses

CNN Top Stories - Tue, 10/18/2022 - 09:06
New York Times reporter Maggie Haberman discusses a new House Oversight Committee report that says the Trump Organization charged the Secret Service "exorbitant rates" -- upwards of $1.4 million over four years -- to protect the former President and his family at properties they owned.
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Japan will respond appropriately to excessive FX moves, Finance Minister says

Inquirer Breaking News - Tue, 10/18/2022 - 09:05
TOKYO - Japanese Finance Minister Shunichi Suzuki said on Tuesday authorities would respond appropriately to excessive currency moves driven by speculators, as the yen fell to a fresh 32-year low to the dollar. Suzuki, speaking to reporters, declined to comment when asked whether authorities are conducting stealth intervention to support the weakening currency. "We cannot tolerate excessive currency moves driven by speculators," Suzuki said. "We are closely watching currency moves with a sense of urgency." Japan spent 2.8 trillion yen ($18.81 billion) in dollar-selling, yen-buying intervention last month when authorities intervened to prop up the yen for t...

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Foreign banks amass reserves at the Fed, bracing for funding stress

Inquirer Breaking News - Tue, 10/18/2022 - 08:53
NEW YORK - Foreign bank units have been accumulating cash reserves at the Federal Reserve, likely reflecting concerns that a dollar funding crunch could be looming as the U.S. central bank reduces its balance sheet and global economies face recession risks. While their reserves were drawn down in September, probably due to quarter-end rebalancing, analysts expect foreign banks to ramp them up again in coming weeks, which could help them avert a disruptive scramble for dollars like the one that occurred three years ago. This may also have implications for how the Fed manages overnight reserves. The latest Fed data on banks' assets and liabilities showed cash holdings of foreign ...

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Her rapists were jailed for life. Now they're free, and she's in hiding

CNN Top Stories - Tue, 10/18/2022 - 08:47
Standing in a row outside the gates of Godhra remand center in Gujarat, western India, the 11 middle-aged men could have been mistaken for visiting dignitaries receiving sweets and blessings from local admirers.
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Two dead in Rizal road accident

Inquirer Breaking News - Tue, 10/18/2022 - 08:47
  LUCENA CITY -- A motorcyclist and his back-rider died on a road accident in Antipolo City, Rizal province on Monday, October 17. The Region 4A police, in a report Tuesday, October 18, said that Leandro Ramos, 63, was driving his motorcycle with pillion rider Nornarita Buendia, 50, at 11:05 a.m. along the circumferential road in Barangay (village) San Isidro. When the motorcycle arrived at the intersection, a dump truck driven by Nilo Torres overtook the two-wheeled vehicle and accidentally hit it. The truck consequently dragged the motorcycle with Ramos still onboard for at least 17 meters while Buendia was thrown off the vehicle, landed on the pavement, and su...

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American who was held by Russian-backed forces 'wanted to die'

CNN Top Stories - Tue, 10/18/2022 - 08:43
Alex Drueke and Andy Tai Ngoc Huynh, two Americans who were captured while fighting in Ukraine and held by Russian-backed forces for 105 days, describe their experience being tortured.
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New Zealand Q3 inflation outpaces expectations

Inquirer Breaking News - Tue, 10/18/2022 - 08:39
WELLINGTON -New Zealand's consumer inflation outpaced expectations in the third quarter and remains at historically high levels amid widespread price pressures. Annual inflation rose to 7.2 percent in the third quarter, slowing from 7.3 percent in the second quarter and sits just below three-decade highs, Statistics New Zealand said in a statement on Tuesday. The consumer price index (CPI) rose 2.2 percent quarter-on-quarter, following a 1.7 percent rise in the second quarter. The data was above economists' expectations for a 1.6 percent rise for the quarter and a 6.7 percent annual rise, according to a Reuters poll. The Reserve Bank of New Zealand (RBNZ) has raised interest rat...

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Former FBI agent analyzes online threats of civil war

CNN Top Stories - Tue, 10/18/2022 - 08:35
Experts say online threats of civil war have spiked since the FBI search of Mar-a-Lago. CNN's Donie O'Sullivan compiled these disturbing posts and showed them to former FBI special agent Greg Ehrie to get his analysis. Here is what he said.
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Make EDSA busway passenger-friendly, gov’t urged

Inquirer Breaking News - Tue, 10/18/2022 - 08:31
A public policy think tank is reminding the government to take into consideration the plight of commuters in the feasibility study it is conducting in connection with the possible privatization of the EDSA Busway System. "The core of any proposed PPP [public-private partnership] should focus on improving the commuter experience, such as shorter wait times and adequate protection from extreme weather conditions," Infrawatch PH convener Terry Ridon told the Inquirer. The Department of Transportation (DOTr) said it had recently ordered the PPP Center of the Philippines to develop a feasibility study on the privatization of the public bus transportation in one of Metro Manila's busiest...

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Mastercard warming up to cryptos for payments

Inquirer Breaking News - Tue, 10/18/2022 - 08:25
Payments giant Mastercard Philippines is open to allowing cryptocurrency transactions if approved by local regulators, saying virtual money such as bitcoin and other digital assets "can no longer be dismissed as a passing phase." During a business forum on Monday, Mastercard country manager Simon Calasanz said their goal was to widen options for clients to use either traditional money or virtual currencies while acknowledging divisions around the world on how digital assets should be regulated. "One thing that we espouse for these digital currencies, and depending on the locality [where] it is being offered, there are two things that have to be present. Number one, it has to be fai...

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Nokia announces new Canada R&D campus

Inquirer Breaking News - Tue, 10/18/2022 - 08:08
Finnish telecommunications giant Nokia on Monday unveiled plans for a new research and development center in a suburb of Canada's capital Ottawa to advance cyber security and mobile technologies. Alongside laboratories, the 26-acre facility in Kanata, west of downtown Ottawa, will include office and residential towers, as well as space for restaurants and retailers. "This is a project that will build a world class R&D hub that will transform the wireless technologies we rely on every day," Canada's Prime Minister Justin Trudeau told a joint news conference with Nokia chief executive Pekka Lundmark. Lundmark said the R&D center "will be among the top five in the who...

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