#UK: Tax Cut Pledge Blamed For Temporary Pound Collapse

[world politics news]

The market’s verdict on the £220 billion policy blitz set out by UK Chancellor Kwasi Kwarteng was swift and devastating Tuesday. 

His pledge to cut taxes was blamed by financial experts for the sudden drop in the UK currency, the Pound, against the US dollar. The currency recovered it's value later in the day, a fact not generally reported by the mainstream media.

[FULL STORY HERE]

World Politics News is dedicated to raising Americans' knowledge of political events, elections, and legislation throughout the world.

#THEPHILIPPINES: Pres. Duterte Orders Stock Market To Close "Indefinitely'

[world politics news]

The Philippines halted stock, bond and currency trading until further notice, becoming the first country to shut financial markets in response to the widening coronavirus pandemic.

The closures take effect on Tuesday, according to statements from the Philippine Stock Exchange and the Bankers Association of the Philippines.

[FULL STORY HERE]

World Politics News is dedicated to raising Americans' knowledge of political events, elections, and legislation throughout the world.

#SAUDIARABIA: Gov't Says It Will Respond With "Bigger" Actions If US Imposes Sanctions Over Alleged Khashoggi Murder

[world politics news]

Saudi Arabia rejects political and economic "threats" over missing journalist Jamal Khashoggi, reports the BBC. The country would respond to any punitive action "with a bigger one," the unnamed senior source said. Khashoggi vanished October 2nd after visiting the Saudi consulate in Istanbul. Turkey's president has said his government has proof that he was killed while inside the building, allegedly on orders of Saudi Crown Prince Mohamed bin Salman, who is the nation's de facto ruler.

Pres. Trump said last week he would "punish" Saudi Arabia if it were found responsible for killing him. Khashoggi, a Saudi has been a critic of the Saudi monarchy, has been living in the US in self-imposed exile and writing for the Washington Post about the king's tactics against his enemies.

WHY IT MATTERS TO US:
You could feel any stoppage of oil flowing from Saudi Arabia to the US at the gas pumps, as prices would rise almost immediately after an embargo was announced (and it may happen even before then, just on the threat of a cut-off.) Stocks could plunge this week, because the Markets hate uncertainty.

[FULL STORY HERE]

World Politics News is dedicated to raising Americans' knowledge of political events, elections, and legislation throughout the world.

#JAPAN

PM Abe Defends Comparing Japan to Gordon Gekko (The Sequel Version) [world politics news]