UK employers tell Reeves to take ’hard choices’ on budget

Wall Street futures surged as expectations for a potential interest rate cut by the Federal Reserve in December gained traction, signaling a recovery in tech stocks. This rebound follows a week of volatility, where concerns over a tech bubble and inflation weighed heavily on investor sentiment.

A UK government taskforce has finalized plans to streamline regulations for the construction of new nuclear reactors, aiming to expedite the process and reduce costs. This initiative, led by Prime Minister Keir Starmer, seeks to dismantle outdated rules that have hindered nuclear development in the country.

The UK government has announced a 25% reduction in energy bills for over 7,000 manufacturers starting in 2027, as part of a strategy to engage businesses ahead of a significant tax-raising budget. This initiative aims to alleviate financial pressures on manufacturers and foster a more favorable business environment.

Aida, a member of the Japanese government panel, stated that Japan can actively intervene to support the yen amid ongoing economic challenges. This assertion comes as the yen has been under pressure, prompting discussions about potential monetary policy adjustments by the Bank of Japan (BOJ).

Blue Owl is reportedly considering reviving a merger of its private credit funds, contingent on the share price of the fund, according to sources. This potential move indicates a strategic reevaluation of the company's investment structure in response to market conditions.

Chancellor Rachel Reeves is set to implement a crackdown on benefit fraud while simultaneously lifting the two-child limit for universal credit, a move expected to cost £3 billion. This initiative aims to generate an additional £1.2 billion in savings as the government addresses rising welfare spending criticisms ahead of the upcoming budget.

Kohl's is set to appoint Michael Bender as its permanent CEO, according to reports from Bloomberg News. This decision marks a significant leadership change for the retail company as it seeks to stabilize and enhance its operations in a competitive market.

Bessent stated in an interview with NBC that the US economy is not at risk of recession, highlighting resilience in economic indicators despite ongoing market fluctuations. This assertion comes amid discussions surrounding interest rates and stock valuations.