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Ray Dalio says UK’s economic plan suggests incompetence

Ray Dalio, founder of Bridgewater Associates LP, speaks during a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, May 25, 2022.Bloomberg | Bloomberg | Getty ImagesThe financial market turmoil resulting from the U.K. government's spending...

Larry Summers blasts UK’s ‘utterly irresponsible’ fiscal policy

Larry SummersCameron Costa | CNBCLONDON — Former U.S. Treasury Secretary Larry Summers on Tuesday warned that the U.K. has lost sovereign credibility after the new government's fiscal policy sent markets into a tailspin.The British pound hit an all-time low against the dollar in the early hours of...

New minimum tax could hit Berkshire Hathaway and Amazon hardest, study shows

Berkshire Hathaway Chairman Warren Buffett seen at the annual Berkshire shareholder shopping day in Omaha, Nebraska, U.S., May 3, 2019.Scott Morgan | ReutersResearchers applied the Inflation Reduction Act's new 15% corporate minimum tax onto 2021 company earnings and found that the burden would...

Atlanta Fed President Bostic expects job losses but says there’s a really good chance to get to 2% inflation without killing the economy

President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019.Clodagh Kilcoyne | ReutersRaphael Bostic, the president of the Federal Reserve Bank of Atlanta, appeared on...

Bank of England hikes, says UK may already be in recession

The Bank of England raised rates by 0.5 percentage points Thursday.Vuk Valcic | SOPA Images | LightRocket | Getty ImagesLONDON — The Bank of England voted to raise its base rate to 2.25% from 1.75% on Thursday, lower than the 0.75 percentage point...

Jobless claims edge lower as Fed looks to cool labor market

Initial filings for unemployment benefits declined slightly last week though they were consistent with a drift higher in layoffs that began in the spring, the Labor Department reported Thursday.Jobless claims totaled 250,000 for the week ended Aug. 13, down 2,000 from the previous...