Money

New PM Sunak announces new budget date

Published

3 years ago

October 26, 2022

Ahron Young

Chancellor Jeremy Hunt will deliver an Autumn Statement on November 17, where he is expected to announce spending cuts to plug a £40billion black hole in the public purse.

Pensioners and benefit claimants should also learn how much their payments will rise by.

To calm jittery markets after Liz Truss’ shambolic premiership Mr Hunt is set to rein in borrowing by squeezing department Budgets.

Downing Street said: “The Prime Minister told Cabinet that economic stability and fiscal sustainability would be at the heart of this Government’s mission.

In his first intervention since being appointed justice secretary last week, Robert Buckland signalled the government was prepared to think again about the use of Alastair Darling’s emergency 50p tax rate for high earners.

It comes as Tory backbenchers have urged the new Prime Minister to use his first Budget statement to pledge significant tax cuts for middle-income earners.

Steve Baker, deputy chairman of the European Research Group of backbench Eurosceptic MPs, has written to Mr Johnson calling for a cut in capital gains tax – currently set at 20 per cent or 28 per cent depending on circumstances – and changes to inheritance tax rules.

In his letter, seen by The Sunday Telegraph, Mr Baker says Theresa May’s decision not to call a snap election in 2017 meant she “missed an opportunity” to enshrine in law her proposed increase in the income tax personal allowance from £11,850 to £12,500 and higher rate threshold from £46,350 up to £50,000.

Money

Markets edge higher as 10-year yields hit new highs

Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.

Published

20 hours ago

January 19, 2026

Harvey Vargas

Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.

All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.

The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.

Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.

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Money

Commodities surge as oil volatility and metals hit record highs

Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

Published

3 days ago

January 16, 2026

Harvey Vargas

Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

Global commodities are on the move, with oil prices swinging sharply as geopolitical tensions involving Iran fuel uncertainty across energy markets. Traders are closely watching supply risks and political flashpoints, driving short-term volatility.

Precious metals are stealing the spotlight, pushing to record highs as investors seek safety amid inflation concerns, interest-rate uncertainty and rising global risk. At the same time, industrial metals are surging, supported by demand expectations and tightening supply.

To unpack what this means for markets and investors, we’re joined by Kyle Rodda from Capital.com to break down the key drivers behind this powerful commodities rally.

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Money

Stocks slide and Trump cancels talks: What’s next for markets and Greenland?

U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.

Published

5 days ago

January 15, 2026

Harvey Vargas

U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.

U.S. stocks fell for a second day on Wednesday, with the S&P 500 dropping 0.9% and the Dow Jones losing 164 points. Investors are reassessing record-high levels as major banks report weaker-than-expected earnings.

Wells Fargo shares tumbled more than 5% after disappointing revenue results, while Bank of America is down roughly 7% week to date. Citigroup and Wells Fargo have both seen declines of about 8%, highlighting volatility in the banking sector.

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