NEWSLETTER
Thursday / September 29Sep 29
Friday / September 9
End of an era
Queen Elizabeth II, the UK's longest-serving monarch, died at Balmoral Castle, Scotland, aged 96, after reigning for 70 years. She died peacefully on Thursday afternoon at her Scottish estate, the Buckingham Palace said in a statement.
The Queen came to the throne in 1952.
Her son King Charles III said the death of his mother was a "moment of great sadness" for him and his family and that her loss would be "deeply felt" around the world.
The Bank of England said its banknotes featuring the image of Queen Elizabeth remained legal tender, following the monarch's death on Thursday.
"Current banknotes featuring the image of Her Majesty The Queen will continue to be legal tender. A further announcement regarding existing Bank of England banknotes will be made once the period of mourning has been observed," the central bank said.
Powell comments
US Federal Reserve Chairman Jerome Powell said the central bank is squarely focused on bringing down high inflation to prevent it from becoming entrenched as it did in the 1970s.
Powell's comments strengthened expectations of a third consecutive 0.75-percentage-point rate rise later this month.
“It is very much our view, and my view, that we need to act now forthrightly, strongly, as we have been doing, and we need to keep at it until the job is done,” Powell said Thursday morning at a virtual conference.
Ukraine recaptures territory
Ukrainian President Volodymyr Zelenskiy said in a video address Thursday that Kyiv's forces had "liberated dozens of settlements" and reclaimed 1,000 square kilometres (385 square miles) of territory in the east and south since September 1.
Zelenskiy also posted a video in which Ukrainian soldiers claimed to have captured the eastern town of Balakliia near Kharkiv, the second largest city in Ukraine.
Ukrainian forces made a sudden and deep thrust behind Russian lines in the Kharkiv region. Ukraine has for weeks been talking about a big counteroffensive in the south around Kherson. Western military analysts believe Russia may have left itself exposed in other areas as it rushed to reinforce the south.
U.S. Secretary of State Antony Blinken was visiting the country to pledge further aid.
ECB decision
The European Central Bank raised interest rates by the largest amount since the early days of Europe’s currency union, moving aggressively to combat record inflation. An energy crisis puts Europe on the brink of recession.
The bank said in a statement that it would increase its key rate to 0.75% from zero—its second hike this year following a 50-basis-point rise in July—and signaled that further rises were likely over the coming months.
US SEC vs crypto
The US Securities and Exchange Commission will establish a new office for cryptocurrency filings. The office will be within the Division of Corporation Finance, which handles disclosures for publicly traded firms, said Cicely LaMothe, the associate director for disclosure operations within that division.
LaMothe told the audience at a legal conference in Washington on Thursday that the SEC saw the new office as necessary to address “unique and evolving” filings around crypto assets, the Block reports.
US stocks
The Dow Jones Industrial Average jumped 193 points, or 0.61%, during the regular session on Thursday — closing higher after alternating between gains and losses throughout the day. The S&P 500 rose 0.66%, and the Nasdaq Composite advanced 0.60%.
Those gains put all three major averages on pace to snap a 3-week losing streak. Through Thursday, the Dow is up 1.45%. Meanwhile, the S&P 500 is up 2.09%, and the Nasdaq Composite is 1.99% higher.
Queen Elizabeth II, the UK's longest-serving monarch, died at Balmoral Castle, Scotland, aged 96, after reigning for 70 years. She died peacefully on Thursday afternoon at her Scottish estate, the Buckingham Palace said in a statement.
The Queen came to the throne in 1952.
Her son King Charles III said the death of his mother was a "moment of great sadness" for him and his family and that her loss would be "deeply felt" around the world.
The Bank of England said its banknotes featuring the image of Queen Elizabeth remained legal tender, following the monarch's death on Thursday.
"Current banknotes featuring the image of Her Majesty The Queen will continue to be legal tender. A further announcement regarding existing Bank of England banknotes will be made once the period of mourning has been observed," the central bank said.
Powell comments
US Federal Reserve Chairman Jerome Powell said the central bank is squarely focused on bringing down high inflation to prevent it from becoming entrenched as it did in the 1970s.
Powell's comments strengthened expectations of a third consecutive 0.75-percentage-point rate rise later this month.
“It is very much our view, and my view, that we need to act now forthrightly, strongly, as we have been doing, and we need to keep at it until the job is done,” Powell said Thursday morning at a virtual conference.
Ukraine recaptures territory
Ukrainian President Volodymyr Zelenskiy said in a video address Thursday that Kyiv's forces had "liberated dozens of settlements" and reclaimed 1,000 square kilometres (385 square miles) of territory in the east and south since September 1.
Zelenskiy also posted a video in which Ukrainian soldiers claimed to have captured the eastern town of Balakliia near Kharkiv, the second largest city in Ukraine.
Ukrainian forces made a sudden and deep thrust behind Russian lines in the Kharkiv region. Ukraine has for weeks been talking about a big counteroffensive in the south around Kherson. Western military analysts believe Russia may have left itself exposed in other areas as it rushed to reinforce the south.
U.S. Secretary of State Antony Blinken was visiting the country to pledge further aid.
ECB decision
The European Central Bank raised interest rates by the largest amount since the early days of Europe’s currency union, moving aggressively to combat record inflation. An energy crisis puts Europe on the brink of recession.
The bank said in a statement that it would increase its key rate to 0.75% from zero—its second hike this year following a 50-basis-point rise in July—and signaled that further rises were likely over the coming months.
US SEC vs crypto
The US Securities and Exchange Commission will establish a new office for cryptocurrency filings. The office will be within the Division of Corporation Finance, which handles disclosures for publicly traded firms, said Cicely LaMothe, the associate director for disclosure operations within that division.
LaMothe told the audience at a legal conference in Washington on Thursday that the SEC saw the new office as necessary to address “unique and evolving” filings around crypto assets, the Block reports.
US stocks
The Dow Jones Industrial Average jumped 193 points, or 0.61%, during the regular session on Thursday — closing higher after alternating between gains and losses throughout the day. The S&P 500 rose 0.66%, and the Nasdaq Composite advanced 0.60%.
Those gains put all three major averages on pace to snap a 3-week losing streak. Through Thursday, the Dow is up 1.45%. Meanwhile, the S&P 500 is up 2.09%, and the Nasdaq Composite is 1.99% higher.
