Fact check: Biden’s midterms message includes false and misleading claims

Fact check: Biden’s midterms message includes false and misleading claims

Washington CNN  —  President Joe Biden has been back on the campaign trail, traveling in October and early November to deliver his pitch for electing Democrats in the midterm elections on Tuesday. Biden’s pitch has included claims that are false, misleading or lacking important context. (As always, we take no position on the accuracy of … Read more

The US spent half a trillion dollars last year alone to finance its mountain of debt

The US spent half a trillion dollars last year alone to finance its mountain of debt

New York CNN Business — The Federal Reserve’s war on inflation isn’t just painful for homebuyers and people with credit card debt. Uncle Sam is also being pressured by higher borrowing costs. The cost of financing America’s growing mountain of debt is rising rapidly as the Fed struggles to put out the inflationary fire by … Read more

Democrats predict an “extremely busy” lame duck. Here’s what’s on the agenda

Democrats predict an “extremely busy” lame duck.  Here’s what’s on the agenda

CNN — A packed legislative to-do list awaits Congress when it returns to session after the midterms — and Democrats, who currently control both chambers, will face a ticking clock to pass key priorities if Republicans win back the House or manage to turn the Senate into Parliament. upcoming elections. Senate Majority Leader Chuck Schumer … Read more

UK pensions: There is no quick fix to the market mess

UK pensions: There is no quick fix to the market mess

London CNN Business — The Bank of England is struggling to contain a crisis triggered by the British government’s bold plans to borrow heavily to pay for tax cuts, fueling fears that the country’s financial markets could spin out of control again. Nearly 20 days after Finance Minister Kwasi Kwarteng unveiled his much-criticized plan to … Read more

How a sleepy corner of the market nearly triggered a meltdown

How a sleepy corner of the market nearly triggered a meltdown

London CNN Business — Pension funds are designed to be boring. Their singular goal – to make enough money to make payments to retirees – favors cool heads over bold risk-takers. But when UK markets went haywire last week, hundreds of British pension fund managers were at the center of a crisis that forced the … Read more

Premarket stocks: The bond market is crumbling

Premarket stocks: The bond market is crumbling

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — The global bond market is having a historically awful year. The yield … Read more

Markets are now treating UK bonds like Greek and Italian debt

Markets are now treating UK bonds like Greek and Italian debt

London CNN Business — The pound may have halted its headlong crash towards parity with the US dollar, but the damage to the UK economy unleashed by Prime Minister Liz Truss’s massive tax cut spree is still rippling through financial markets. Sterling stabilized early Tuesday to trade near $1.08, rejecting Monday’s record low of around … Read more

Congress is again running to avoid a shutdown as a key vote at risk of failure

Congress is again running to avoid a shutdown as a key vote at risk of failure

CNN — The Senate is scheduled to take a key vote Tuesday to take up state aid that is in danger of failing over a deal that has been cut by West Virginia Sen. Joe Manchin, who has come under sharp criticism from Republicans and liberals — backlash that could be enough to sink the … Read more

Harsh terms chop Kenya’s commercial external debt

Harsh terms chop Kenya’s commercial external debt

Capital markets Harsh terms chop Kenya’s commercial external debt Tuesday 20 September 2022 The National Treasury building in Nairobi on Sunday, May 24, 2020. PHOTO | DENNIS ONSONGO | NMG The share of Kenya’s external debt from commercial lenders fell to 14 percent from 15.5 percent in the year to June 2022, reflecting the difficulty … Read more