Money

Britain is already in a recession according to the finance minister

Published

3 years ago

November 18, 2022

ticker NEWS

Britain is already in a recession according to the finance minister, as he announces a string of tax hikes

Britain is struggling economically.

UK finance minister Jeremy Hunt has announced a string of new tax hikes as the government pushes to tighten public spending.

Speaking to parliament, Hunt said it was necessary to restore faith in policymaking and public finances. This is particularly relevant after the short-lived premiership of Liz Truss.

“Credibility cannot be taken for granted and yesterday’s inflation figures show we must continue a relentless fight to bring it down. [This includes] a rock-solid commitment to rebuild our public finances,” Hunt said.

Headline moves include a freeze on income tax allowances, meaning more people will pay the basic rate.

Hunt also lowered the threshold for paying the top rate, and cut tax-free allowances for earnings from dividends.

He increased a windfall tax on oil and gas firms, and extended it to power generators.

“I have no objection to windfall taxes. [So long as] they are genuinely about windfall profits caused by unexpected increases in energy prices.”

Hunt is attempting to close Britain’s £55 billion budget hole.

Hunt said the country was already in recession, and government departments would need to find ways to save money.

But he denied that the plans amounted to a return of austerity, saying the the National Health Service would get extra funding.

Hunt says he hopes to protect other public spending “as much as possible”.

The opposition Labour Party said the economy was in a “mess”, as result of the government’s mistakes.

Markets gave a muted reaction to the plans, with sterling and government bonds edging lower.

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

14 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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#StockMarket #FinanceNews #TreasuryYields #FederalReserve #TechStocks #SmallCaps #InvestingTips #MarketUpdate

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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#Commodities #OilPrices #Gold #Metals #MarketVolatility #Geopolitics #Investing #TickerNews

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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#StockMarket #SP500 #DowJones #BankEarnings #TrumpNews #Iran #Greenland #Geopolitics