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UK economy: Rishi Sunak only has unpleasant choices as prime minister
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UK economy: Rishi Sunak only has unpleasant choices as prime minister

London CNN Business  —  Rishi Sunak, Britain’s third prime minister in seven weeks, took office on Tuesday with a pledge to fix the “mistakes” of predecessor Liz Truss and tackle a “profound economic crisis.” The task won’t be an easy one, he acknowledged. “This will mean difficult decisions to come,” Sunak said in his first...

Pound holds ground as Rishi Sunak leads race to become UK prime minister
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Pound holds ground as Rishi Sunak leads race to become UK prime minister

London CNN Business  —  Britain’s third prime minister in seven weeks will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But their other task — shepherding the country through a recession — is poised to be just as daunting. Rishi Sunak emerged over the weekend as...

Trump Org. criminal tax fraud trial kicks off Monday
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Trump Org. criminal tax fraud trial kicks off Monday

CNN  —  Jury selection begins Monday in the Trump Organization’s criminal tax fraud and grand larceny trial in New York, a symbolic moment following years of investigations that places former President Donald Trump’s business before a jury. Trump is not a defendant in the case and is not expected to be implicated in any wrongdoing,...

Badrinath-Kedarnath temple doors to remain closed on Oct 25 solar eclipse
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Badrinath-Kedarnath temple doors to remain closed on Oct 25 solar eclipse

Doors of Shri Badrinath-Kedarnath temple will remain closed on October 25 on the solar eclipse, said the temple committee. After the eclipse, the pujas will be performed in the evening, the Chief Administrative Officer of the Shri Kedarnath-Badrinath Temple Committee added. Prime Minister Narendra Modi offered prayers at Badrinath temple on...

Shalanda Young has quietly become central to Joe Biden’s presidency. Her most important work may be yet to come.
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Shalanda Young has quietly become central to Joe Biden’s presidency. Her most important work may be yet to come.

CNN  —  As Washington obsesses over polls, fundraising and closing campaign messages, a high-stakes legislative battle is waiting on the other side of the midterm elections. Lawmakers will have a little more than a month to reach an agreement to fund the government, with officials on both sides of Pennsylvania Avenue keenly aware that the...

Elon Musk didn’t want EV tax credits. Now Tesla is warming up to them
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Elon Musk didn’t want EV tax credits. Now Tesla is warming up to them

Washington, DC CNN  —  Tesla buyers may be able to take advantage of new federal tax credits for electric vehicles next year, the automaker’s executives said Wednesday. The credits can be as large as $7,500 for new vehicles and $4,000 for used vehicles. Tesla’s eligibility for the previous tax credits ended in Jan. 2020 when...

How Liz Truss’ term as British prime minister went from bad to worse
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How Liz Truss’ term as British prime minister went from bad to worse

CNN  —  When she took the keys to 10 Downing Street in the wake of Boris Johnson’s political demise, Liz Truss promised to “ride out the storm” of Britain’s economic crisis. Just over six weeks later, she was engulfed by a hurricane of her own making. It was a humiliating end to a calamitous premiership...

New IRS rules mean your paycheck could be bigger next year
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New IRS rules mean your paycheck could be bigger next year

Inflation may be pushing prices up, but it also may help push up your take-home pay starting next year. Thanks to inflation adjustments to 2023 federal income tax brackets and other provisions announced by the Internal Revenue Service this week, more of your 2023 wages may be subject to lower tax rates than they were...

I Bonds: Last chance to lock in a nearly 10% return on your savings
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I Bonds: Last chance to lock in a nearly 10% return on your savings

Inflation is soaring, markets are down and savings rates are still very low. But there’s one investment that offers a nearly 10% return for the next several months. But you’d need to act quickly. Until the end of this month, you have a chance to lock in a 9.62% rate for six months, October through...

Liz Truss was defeated by the bond market. Investors aren’t satisfied yet
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Liz Truss was defeated by the bond market. Investors aren’t satisfied yet

London CNN Business  —  After a bruising three-week battle with bond markets, UK Prime Minister Liz Truss admitted defeat on Friday. She fired her finance minister and gutted her economic program by promising to reinstate a big tax hike on corporations. Truss said she acted in the national interest to ensure economic stability and to...