Latest news with #economicplans
Bloomberg
2 days ago
- Business
- Bloomberg
UK 30-Year Inflation-Linked Yields Hit Highest Since 1998
The yield on long-dated inflation-linked UK government bonds surpassed the highs seen during the gilt-market meltdown three years ago, reflecting an ongoing shift in demand away from such debt. The rate on 30-year linkers — often known as the real yield — rose to 2.54%, the most since 1998. That surpassed a high recorded in September 2022, when former Prime Minister Liz Truss's economic plans triggered a fire-sale dynamic among leveraged pension fund strategies.
CNA
5 days ago
- Business
- CNA
India's Independence Day: PM Modi says his country will not tolerate "nuclear blackmail"
Indian Prime Minister Narendra Modi has rolled out sweeping economic and security plans as the country marks its 79th Independence Day. He also warned that Pakistan could be punished for any future attacks on India. Across the border, Pakistan marked its Independence Day on Aug 14, with Prime Minister Shehbaz Sharif announcing a new military force to oversee missile combat capabilities in a conventional war. Ishan Garg and Hira Mustafa report.
CNA
5 days ago
- Business
- CNA
India's Independence Day: Modi warns Pakistan will face punishment for any future attacks on India
Indian Prime Minister Narendra Modi has rolled out sweeping economic and security plans as the country marks its 79th Independence Day. He also warned that Pakistan could be punished for any future attacks on India. Across the border, Pakistan marked its Independence Day on Aug 14, with Prime Minister Shehbaz Sharif announcing a new military force to oversee missile combat capabilities in a conventional war. Ishan Garg and Hira Mustafa report.
Times
21-07-2025
- Politics
- Times
The Talented Mr Mamdani
I know talent when I see it. Zohran Mamdani has it. He is handsome, charismatic and a smooth talker. He's got the perfect 'I've got your back' smile. But behind it? Reckless economic plans that will destroy working-class jobs and crush small businesses. Massive tax hikes that will drive enterprise businesses out. He wants to defund the police, which will no doubt increase crime in New York City, the capital of the world and the largest home to Jews outside Israel. Mamdani is slick — but not that slick. He foolishly thinks that by rubbing elbows with Jewish elected officials and business leaders last week, the rest of us are going to forget what he stands for. Not a chance. Beneath the charm and the polished exterior, Mamdani's lack of experience and radical socialist policies will be devastating for every New Yorker — and especially for the Jewish community. His entire identity is built on hatred of Israel and the movement to 'free Palestine … by any means necessary'. His record speaks for itself. He refuses to recognise Israel as a Jewish state; he falsely claims Israel is committing genocide, while he's quiet about countries like Syria that actually are. He vows to arrest Binyamin Netanyahu, the Israeli prime minister, for war crimes if he sets foot in New York City. • Meet Zohran Mamdani, the Bernie Sanders-inspired socialist who wants to run NYC He defends the use of the slogan 'globalise the intifada', which he must know is a blatant call for violence against Jews. He sponsored a bill that would fine New York synagogues and Jewish businesses $1 million or risk legal action for raising money for Zaka and Hatzalah, Israeli emergency response organisations helping people in disputed territories. In a resurfaced music video, he rapped 'My love to the Holy Land Five', referring to a group of convicted terrorists in the largest terror financing case in US history. One of the terrorists he praised, Mufid Abdulqader, sang at an Al Sakhra production in Oklahoma City in 1992: 'We won't fear a Jew. Oh, Hamas, respond to them with force. Death is right for Jews.' I could go on. Does he really think meeting a rabbi and congregants at a synagogue on the Upper West Side will erase all of that? It's as if he's saying, 'Look, Ma! I'm not an antisemite!' Not only is it meaningless, it's also pure performance. Here is who Mamdani truly is. He chants alongside Jew-haters at rallies for Within Our Lifetime, the antisemitic group led by Nerdeen Kiswani. Meanwhile, his mayoral campaign has been quietly funded by CAIR, an organisation with alleged ties to Hamas and an unindicted co-conspirator in the 2007 Holy Land Foundation Trial and a US specially designated global terrorist. Then there is his radical father, Mahmood Mamdani, who joined Columbia University in 1999 as a Herbert Lehman professor of government. In 2014, he published the book Good Muslim, Bad Muslim, in which he wrote: 'We need to recognise the suicide bomber, first and foremost, as a category of soldier.' When NBC's Kristen Welker interviewed Zohran Mamdani in June, he declined to denounce the phrase 'globalise the intifada'. Then, at an event hosted by the Partnership for New York City last week with 100 business leaders, he backpedalled slightly, saying he would 'discourage' the use of the slogan, but not the idea behind it. He reiterated that he did not personally use the statement and that to many 'the phrase means protest against the Israeli occupation of Gaza', but his father seems to know the intifada calls for violence against Jews. His father even apparently praised the violence that broke out between Israel and Palestinians in May 2021, which left hundreds dead, saying: 'We are witnessing something far more meaningful, the birth of the third intifada against settler colonialism.' Like his dad, Zohran Mamdani talks in double-speak. When questioned by business leaders about his well-known stance on defunding the police, he instead focused on his proposal to increase mental health services. But, unfortunately for him, the internet is for ever. In 2020 he tweeted: 'There is no negotiating with an institution this wicked & corrupt. Defund it. Dismantle it. End the cycle of violence.' In the first quarter of 2025, antisemitic incidents accounted for 62 per cent of all reported hate crimes in New York City. So, how exactly does Mamdani plan to protect us? Surely not with his Department of Community Safety, filled with social workers. Ironic that he just spent more than $33,000 on private security for himself. Michelle Goldberg of The New York Times wrote that 'plenty of Jews support Zohran Mamdani', noting a poll that showed him winning the support of 20 per cent of likely Jewish voters in the Democratic primary, putting him second after the 31 per cent of Andrew Cuomo, the former New York governor who has since announced an independent campaign for mayor. But only one in five registered voters turned out for the primary. About 1.35 million New Yorkers are not yet registered to vote. The race is hardly over. Mamdani can play down his anti-Israel, anti-capitalist, anti-western rhetoric all he wants. He can host shabbat dinners with far-left Jews who call Israel a genocidal state. But nothing he says or does will pull the wool over the eyes of most Jewish New Yorkers. October 7, 2023 marked our worst day in history since the Holocaust. These are the crimes against humanity that he celebrates every time he rallies alongside his keffiyeh-wearing, Hamas-supporting fans. Zohran Mamdani is a charlatan, a Trojan horse, a political fraud dangling promises of free buses and rent freezes while he knows he can't legally deliver. But the charm, the smile, the talent! Most Jews of New York know better. Mamdani will hear us loud and clear in the general mayoral election on November 4. Aliza Licht is an award-winning marketer, author, podcaster and, as of October 7, 2023, a Jewish activist.
Telegraph
03-07-2025
- Business
- Telegraph
Investors can't trust Labour, warns UK bond giant
Investors can no longer trust Labour after its multiple about-turns, bond giant Legal & General (L&G) has warned. Sonja Laud, the chief investment officer at L&G, said the decision to abandon key benefit reforms and reverse course on winter fuel payments had destroyed faith in the Government's economic plans. L&G is one of Britain's biggest investors, managing £1.1 trillion of assets. It is one of the biggest buyers of UK government debt. Ms Laud said: '[Markets] can't trust that what's been put forward will be put in place. You will see the adverse reaction. It was quite a big one yesterday.' It follows a dramatic day in which Rachel Reeves's tears in the House of Commons triggered a fall in the pound and a jump in borrowing costs. Investors were concerned that the Chancellor could be on the brink of leaving Downing Street, sparking fears that her fiscal rules could be abandoned. However, borrowing costs had been rising even before the Chancellor wept after Sir Keir Starmer gutted his welfare reforms on Tuesday night to avoid an embarrassing defeat on the legislation. The about-turn has blown a £5bn hole in Ms Reeves's budget. Ms Laud said: 'The changes we have seen ever since the first announcements from the Labour Party - and the intended changes they wanted to put forward - have subsequently been either watered down or changed. 'That's what the bond market does not like. The reaction in the gilt market yesterday [shows] that there clearly is an unwillingness to accept that lack of clarity.' 'Flashback to days of Liz Truss' She added that traders were still nervous after Liz Truss's mini-Budget. She said: 'There's heightened sensitivity in the UK because of what happened in 2022, where you had unfunded fiscal promises.' Ms Laud's comments come as Sir Keir and Ms Reeves scramble to repair the damage done this week. The Chancellor made a surprise appearance alongside the Prime Minister at an event on Thursday, at which she insisted she remained committed to her fiscal rules. The Prime Minister also said Ms Reeves would remain Chancellor 'for many years to come'. Borrowing costs dipped in response but remain higher than where they were just days ago. David Roberts, at Nedgroup Investments, said the bond market turmoil was a 'flashback to the days of Liz Truss'. 'Having been elected on a mandate to sort out public finances, to rein in benefit spending, it appears many in the [Labour] party have decided to return to their traditional tax and spend ideology,' he said. 'Failure to push through welfare reform whilst adhering to fiscal rules seems to leave the Government with little option other than to raise taxes.' Morgan Stanley warned that the struggling Chancellor could be as much as £30bn in the red against her fiscal rules ahead of the autumn Budget. With limited room to borrow or cut spending, 'tax hikes look most likely,' the bank said. Sir Keir's failure to grasp the nettle of welfare reform means Britain will spend £1.5bn a week on health and disability benefits for working-age adults by the end of the decade. The bill is on course to balloon to £75.7bn by 2029-30, up by one quarter from £60.4bn this year. It puts the cost of this portion of the welfare state on a par with the defence budget.
